Why do companies expand into foreign markets? What are the costs? What are the b
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Why do companies expand into foreign markets? What are the costs? What are the benefits? Is it worth it??? When expanding, there is always the battle for “globalization” (or, really “standardization,” or ‘one design for all’) versus the “localization” (or, really “customization” for each particular locale, or ‘one design for each country or specific market segment’).
Surely, businesses would like to “globalize” (“standardize”), thereby gaining economies of scale, and somewhat economies of scope. But, also, they (and particularly their customers) would like them to “localize” (“customize”) to gain/achieve optimal goal effectiveness. All people are not the same, but all people are not different …….. hmmmmm?????????
Hence, what to do in this quandary: standardization (globalization) vs. customization (localization)???
What does “big business” say? What does “small business” say? What is your ‘educated’ opinion, of course, based upon your experience, knowledge, papers you’ve read, OUR TEXT BOOK, and use Google, Yahoo, etc. to find examples of what you’re talking about.
Read Ch. 7 (Strategies for Competing in International Markets),
Ch. 8 (Corporate Strategy: Diversification & the Multi-Business Company), and Ch. 9 (Ethics, CSR, Environmental Sustainability & Strategy).