Review:
International Business Strategies
overall review score: 4.5
⭐⭐⭐⭐⭐
score is between 0 and 5
International business strategies involve the planning and implementation of business activities on a global scale to achieve goals such as expansion, market penetration, and growth.
Key Features
- Market research and analysis
- Entry modes into foreign markets (e.g., export, joint venture)
- Cross-cultural management
- Global supply chain management
- International marketing strategies
Pros
- Access to new markets and customers
- Diversification of revenue streams
- Potential for higher profitability
- Opportunity for innovation and learning from different cultures
Cons
- Risk of economic, political, and cultural challenges in foreign markets
- Higher costs associated with international operations
- Complexity of managing a global business