bartlett and ghoshal advantages and disadvantages

This study offers an empirical test and extension of the Bartlett and Ghoshal typology of multinational companies (MNCs) A three-fold typology of multinational companies: Global, Multidomestic and Transnational is developed from the literature. Among other things, being first typically enables a company to establish ______ and ______ before other entrants to the market arrive. Business must consider if it will be able to use the same branding and marketing techniques and materials to be successful internationally. They offer a standarized product worldwide and have the goal to maximize efficiencies in order to recude costs as much as possible. In terms of organizational design, a transnational company is characterised by an integrated and interdependent network of subsidiaries all over the world. The company might have to consider the requirements of the local population. In this case, most production facilities are located in the home country and foreign subsidiaries, if any, are functioning largely as facilitators for efficient home country production. By being aware of thesedifferent types of multinationals, you will be better able to structureyour own strategic options when going global. Bartlett and Ghoshals international, multi-domestic, transnational and global strategies, The potential cost gains from being globally integrated (such as marketing, production or research economies of scale). Bearing all the risk, As pressures for cost reductions increase, the two most appropriate foreign market entry modes would be, If a firm is highly concerned about choosing a politically acceptable entry mode, the firm should choose. The franchiser typically receives a royalty payment. Each will be elaborated on below. Bartlett and Ghoshal advocates transnational approach: So in this approach they encourages the resources and skills anywhere in firm can be leveraged to exploit opportunities in any geographic market. JIBS is multidisciplinary in scope, and interdisciplinary in content and methodology. Increase in Ytel's common equity price. Also, over the year, the yield to maturity on Ytel's nonconvertible bonds of the same maturity increased, while credit spreads remained unchanged. differentiate its product offering Quality control is a significant disadvantage of ______. The ACA's authorization of four essential modifications allowed for this to happen. (3 marks), Explain the global strategy of theBartlett & Ghoshal theory? The benefits of franchising are similar to the benefits of ______. Boston Spa, The paper presents a comprehensive review of the literature by combining an evolutionary perspective with a Chandlerian business history approach. Creating switching costs The paper shows how Bartlett and Ghoshal's transnational solution concept was developed in light of the global economic changes of the 1970s and 1980s, as well as the managerial and strategic challenges faced by US MNCs. Journal of International Business Studies (JIBS) is a top-ranked peer-reviewed journal in the field of international business; its goal is to publish insightful, innovative and impactful research on international business. Furthermore, it adapts its products to local tastes by offering different products in different markets. Verbeke, A. A(n) ______ is a form of foreign direct investment where a parent company builds its operations in a foreign country from the ground up. the home country. It is therefore perfectly possible that the raw materials are bought and manufactured in multiple countries and that the product is being assembled elsewhere where labor is cheapest. This is known as ________ entry. (Bartlett & Ghoshal, 1992), suggest that, there are three strategic objectives of MNCs. building on existing consumer education about the product, The strategy that allows firms to take their time to acquire information about a prospective market so they can determine how best to enter the market is. The second factor influencing the organization of worldwide operations is Can't find what you are looking for or require further information? The content was very informative and understandable. A shared business risk and shared resources and responsibility are both advantages of ______. They offer the same product worldwide and have the. Design and marketing on the other hand are still largely done in California where Apple is headquartered. Ultimately the multicentred MNE should be viewed as a portfolio of largely autonomous and independent businesses. What three factors help a company determine which entry mode is most appropriate? Palgrave Macmillan is a global academic publisher, serving learning and scholarship in higher education and the professional world. If a service firm's core competency is managerial know-how, which two foreign entry modes make the most sense? The company knows there are currently no competitors or similar companies currently in that market. What are three advantages of acquisitions? Entering a large developing nation like China before most other international companies, and entering on a large scale, will be associated with ____ levels of risk. This item is part of a JSTOR Collection. An international strategy occurs when there are similarities between markets and little gains One option for the company might be a. what are three disadvantages to licensing for the licensor? On the face of it, the disadvantages of being a late entrant seem overwhelming. When determining whether or not to engage in a business in a foreign country, analysts should consider that future economic growth rates within any country are a function of both ______ and ______. Boston House, Boston House, Sales of Fresh n' Fishy have been on the decline, as the company has failed to keep the brand price competitive. Bartlett and Ghoshal originally didnt include this type in their typologies. 2, pp. Pfizer & Nestle, Aims to meet the needs of the local market, Tailor products and services to suit local market, Unique marketing and sales approach to each individual market, A good example would be Nestle and Pfizer, Global: High Integration and Low Responsiveness e.g. The majority of the main activities will be maintained at the headquarter. entry strategy to enter global markets, a firm can take time to gather information to determine if it should enter the market should on a more significant scale. The company wants to benefit from _____. The products were not suitable for the market. business activities will only exist in the home market. The firm has tight control over foreign operations. 5 terms. Start studying Bartlett and Ghoshal Matrix. Tailor products and services to suit the local market. Transnational: High Integration and High Responsiveness e.g. Risky to establish The majority of the value chain activities will be maintained at the headquarter. Slim-Stuff Yogurt would like to enter into a foreign market and build a production facility. Study notes, videos, interactive activities and more! entry strategy include the inability to capture first-mover advantages. One year has passed and Ytel's common equity price has increased to 51 dollar per share. The Transnational Solution. It shows how the transnational solution concept should not be seen as a single work, but rather the outcome of an academic discourse which lasted over a decade. Which is an example of a major strategic commitment by a company? Rich McDonald, CFA, is evaluating his investment alternatives in Ytel Incorporated by analyzing a Ytel convertible bond and Ytel common equity. What are two disadvantages of franchising? & Ghoshal, S. (1989). 29 terms. Earning greater returns from valuable assets. When a business enters a foreign market after other foreign firms, the situation is defined as ______ entry. When considering the three basic decisions a firm must make when it decides to enter a foreign market, it must determine the market to enter, the timing of entrance, and. advantages through centralized global-scaled operations; and (3) international companies, which exploit parent company knowledge and capabilities through worldwide diffusion and adaptation. Bratlett & Ghoshal have defined Global companies as, "building cost advantages through realization of economies of scale" (1989). Not taking advantage of location economies associated with manufacturing elsewhere Instead the international coordinator manages international operations both upstream and downstream the value chain through a tightly-controlled but still flexible logistics function. In order to make sure that a foreign enterprise has organizational customs and behaviors that are NOT antagonistic to an acquiring enterprise, it is vital that the acquiring enterprise screen the. The subsidiaries abroad are likely to be rather weak and the full range of Your email address will not be published. Bob's Bicycle Company is planning to enter into foreign markets where there are already well-established incumbent enterprises and in which global competitors are also interested in establishing a presence. Advantages and Disadvantages of the Affordable Care Act and its Success 3 healthcare services. Businesses that are highly globally integrated have the objective to reduce costs as much as possible by creating economies of scale through a more standarized product offering worldwide. 214 High Street, In a licensing deal, the licensor receives payment in the form of ____ from the licensee. 2002-2023 Tutor2u Limited. Local responsiveness is the foundation of this companys strategy. Nestluses a unique marketing and sales approach for each of the markets in which it operates. A multi-domestic strategy occurs when there are considerable variations between market (2 marks), Please draw theBartlett & Ghoshal theory diagram? Required fields are marked *. 2003-2023 Chegg Inc. All rights reserved. A great example of a transnational company is Unilever. It seems that these strategic optionsare mutually exclusive, but there are companies trying to be both globally integrated and locally responsive as can be seen in some examples below. The three main disadvantages of turnkey projects include: They may create competitors. 148-173. https://doi.org/10.1108/MBR-01-2013-0004, Copyright 2013, Emerald Group Publishing Limited, Visit emeraldpublishing.com/platformupdate to discover the latest news and updates, Answers to the most commonly asked questions here. By entering into an agreement, both companies can avoid litigation over infringement disputes. Figure 3: MNE Archetypes of Administrative Heritage (Verbeke, 2013): Experts are tested by Chegg as specialists in their subject area. According to _____, top managers typically overestimate their ability to create value from an acquisition because they have an exaggerated sense of their own capabilities. Figure 2: Organizational structures of the Bartlett and Ghoshals MNC Typology: Expert Answer. Levels of Strategy: Corporate, Business and Functional Strategy, Hersey and Blanchards Situational Leadership Model, Fiedlers Contingency Model of Leadership, Case Interview Preparation: How To Nail Your Case Interview And Get That Job, Porters Generic Strategies: Differentiation, Cost Leadership and Focus, GE McKinsey Matrix: A Multifactorial Portfolio Analysis in Corporate Strategy, Product Life Cycle: The Introduction, Growth, Maturity and Decline of a Product Category, Three Levels of Strategy: Corporate Strategy, Business Strategy and Functional Strategy, Fiedlers Contingency Model of Leadership: Matching the Leader to the Situation, Hersey and Blanchard Situational Leadership Model: Adapting the Leadership Style to the Follower. (3 marks), Explain the international strategy of theBartlett & Ghoshal theory? Which three statements are TRUE about franchising? Quiet-Night Hotel Corp. has developments around the globe. Parul believes her company's newest technology product will be quickly imitated by others. Products are standarized and only minor customer-oriented activities are done abroad. Together these two factors generate four types of strategies that internationally operating businesses can pursue: Multidomestic, Global, Transnational and Internationalstrategies. Students taking AQA A Level Business need an overview of Bartlett & Ghoshal's model of international strategy. differentiate its product offering The three main disadvantages of turnkey projects include: Lisette works for Southwest Petroleum Corp. True or false: Greenfield ventures are more risky than acquisitions because there is greater potential for unpleasant surprises. Overpayment for assets of the acquired firm. Subsidiaries in the three types of MNCs are shown to differ significantly in aspects of interdependence and local responsiveness. This item is part of a JSTOR Collection. a country's capacity for growth, If a business wants lower costs and less risk when doing business in a foreign country, it should consider those countries that are, An international business can create value when bringing products to another country; however, this primarily depends on the attractiveness of the product being offered and. Assess and compare the February 27, 2010, fiscal year profit margin to any subsequent years profit margin that you calculate. VAT reg no 816865400. Which form of entry should it use? Preemption by other competitors. The Bartlett & Ghoshal Model indicates the strategic options for businesses wanting to manage their international operations based on two pressures: local responsiveness & global integration. (2013). Global companies are the opposite of multidomestic companies. JIBS is an official publication of the Academy of International Business. True or false: As the pressure to reduce costs increases, a firm will focus on location and experience curve economies. Bearing all the cost Which entry mode's major advantage is that a firm has more control over the kind of subsidiary it wants in a foreign market? What is Bartlett & Ghoshal's Theory? Bratlett & Ghoshal have defined Global companies as, "building cost advantages through realization of economies of scale" (1989). How much, if any, will each policy pay? Not having tight control over a local partner to realize experience curve or location economies. An association of two or more companies engaged in a solitary business enterprise for profit without actual partnership or incorporation is called a(n) ______. Higher risk and lack of flexibility are drawbacks of ____ -scale (large or small?) In Bartlett and Ghoshals transnational approach resources and Bartlett & Ghoshal's model is explained in the short revision video below and in the study notes further down this page. Licensing limits the ability to coordinate strategic moves across several countries. This strategy was not originally in Bartlett & Ghoshal's theory. The business must consider the implications/costs on the business of differentiating its product or service in a variety of global markets. True or false: Transportation costs would have an effect on which entry mode a company uses. This helped me understand the terms better. The most typical joint venture involves a ____ stake in ownership between two companies. A great example of a multidomestic company is Nestl. 2000 Springer Other information concerning each product line is provided below. This theory examines the different approaches to managing businesses that operate internationally. Journal of International Business Studies A greenfield venture. Our programme focuses on the Humanities, the Social Sciences and Business. difficult to build market share Activity Based Costing. Something of worth that cannot be touched or held, such as a formula, is considered to be ______ property. International: Low Integration and Low Responsiveness. This part of the theory believes there is little need for local adaptation and global integration. NSUWorks - Nova Southeastern University Institutional Repository entry into a foreign market. These kind of companies build upon a tradition of transferring its proprietary knowledge, which was developed in the home country, to foreign subsidiaries across the globe. Pfizer. In addition, theyhave little pressure for global integration. This part of the theory was created by others. Journal of International Business Studies. JIBS is published 9 times a year. Our programme focuses on the Humanities, the Social Sciences and Business. Their main role is to implement the parent companys decisionsand to act as pipelines of products and strategies. given responsibility appropriate to its capabilities. ______ costs arise when the foreign business system is so different from that in the home market that the firm must devote considerable time, effort and expense to learning the rules of the game. Subsidiaries, if any, are functioning in this case more like local channels through which the products are being sold to the end-consumer. Globalisation is defined as "tightening international linkages on a world-wide scale". Company Reg no: 04489574. decentralisation and a culture of sharing within the global organisation. Taken this all together, there are many ways in which companies can do business abroad. countries. learning from the mistakes made by early entrants Palgrave Macmillan is a global academic publisher, serving learning and scholarship in higher education and the professional world. A company that gains entry into a foreign market through ______ has total control over the products or services manufactured or sold. These expenses are examples of _____. example, power may be kept very much within the home country or may be diffused throughout ______ involves one firm selling intangible property to another firm and insisting that the receiver of the intangible property abides by strict rules on how it does business. the world; products may be standardised or varied according to different market needs. The paper shows how Bartlett and Ghoshal's transnational solution concept was developed in light of the global economic changes of the 1970s and 1980s, as well as the managerial and strategic challenges faced by US MNCs. Products are produced in the companys home country and send to customers all over the world. True or false: Foreign market entry decisions are based on the varying levels of risk and reward. Answer: ome of the advantages to a transnational approach are: The advantage of this approach is the way it utilizes the best of bothcentralized and decentralized structures to support innovation activities.Properlymanaged, this strategy enables the . Bartlett and Ghoshal's work - in partic-ular their idea of the Transnational com-pany - has been extremely influential. Due to efficient knowledge and expertise exchange between subsidiaries, the company in general is able to meet both strategic objectives. The transnational company has characteristics of both the global and multidomestic firm. Refer to Research In Motions financial statements in Appendix A to answer the following. (2 marks), _________________________________________________________________________________________________________, 2. Its aim is to maximize local responsiveness but also to gain benefits from global integration. Bartlett & Ghoshal Model. quick to execute louisarollit Plus. Teaching guide: Bartlett and Ghoshal's international, multi-domestic, transnational and global strategies This model examines the different approaches to managing businesses that operate in several countries. 21 No. Many service firms base their competitive advantage on. JIBS is an official publication of the Academy of International Business. Operations Management questions and answers. We aim to do this by reaching the maximum readership with works of the highest quality. Shared development costs and risks Verbeke (2013) has looked at a large number of multinational enterprises (MNEs) and their administrative heritage, and distinguished four archetypes of MNEs: Centralized Exporter, International Projector, International Coordinator and the Multi-centred MNE. The centralized exporter is a home-country managed firm that trades and sells products internationally. private tutors and courses for students of all ages. relatively independent companies running themselves and producing for their own markets. These subsidiaries have strategic roles and act as centres of excellence. This liability is an example of. franchiser cannot take profits out of one country to support another. Some 131 senior executives of corporations with worldwide operations classified their organizations as being multinational, global, international, or transnational in nature and evaluated their organizations' configuration of assets and capabilities, role of overseas operations, and development and diffusion of knowledge. The business must consider if it will be able to use the same branding and marketing techniques and materials to be successful internationally. For this following could be requirement for smoo . We aim to do this by reaching the maximum readership with works of the highest quality. Indicate whether the value of each component should decrease, stay the same, or increase in response to the: i. Based on these circumstances, Bob's Bicycle Company should enter the foreign markets via ______. Aims to meet the needs of the local market. Building sales volume Identify and write down the revenue recognition principle as explained in the chapter. These are all vital steps in the ______ strategy. switching costs Hi, Company Reg no: 04489574. A good example would be large wine brands around the world. View the full answer. What is Bartlett & Ghoshals Theory? The path to globalization isn't easy, but the authors show that it is possible. The organisation is regarded as a network with each subsidiary Bartlett and Ghoshals multidomestic strategy is most closely associated with this archetype. Unique marketing and sales approach to each individual market. Staff move around Fresh n' Fishy is a canned food made with real carp from the Mississippi River. preempt the competition The international coordinator does not only rely on knowledge and resources from its home country as could be seen in the two archetypes above. It highlights that multinational companies can be managed in very different ways: for Business that are highly locally responsive have as extra objective to adapt products and services to specific local needs. Each company in the study overcame the same core challenges. make the partner accountable. demand preemptions Tel: +44 0844 800 0085. An international company therefore has little need for local adaption and global integration. James, age 18, lives at home and occasionally drives the car of his friend, Mary. COPYRIGHT THE TUTOR ACADEMY LTD. www.thetutoracademy.com. It is true that this strategy has some advantages but some disadvantages of this strategy are below. The aim of this article is to clearly define these different terms and see how they differ from each other, because they do differ! True or False: A commitment that is strategic has a short-term impact and is easy to reverse. What two things did Christopher Bartlett and Sumantra Ghoshal say a late mover company should do to succeed against well-established competitors? Sign up for our mailing list to get latest updates. Mary carries $300,000 of liability insurance on her car under a PAP. (International, multi-domestic, transnational and global strategies), The potential cost gains from being globally integrated (such as marketing, production or research economies of scale). The automotive company Ford is known for this strategy in its early days in the 1900s. Companies with a multidomestic strategy have as aim to meet the needs and requirements of the local markets worldwideby customizing and tailoring their products and services extensively. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. True or false: Many acquisitions fail because of a clash between the cultures of the two organizations. Through increased, reporting requirements and added staff, substantial management cost can be incurred. Using a(n) ___ -scale (large or small?) This part of the theory believes there is little need for local adaptation and global integration. Boston: Harvard Business School Press. A transnational company is Nestl from the Mississippi River 300,000 of liability insurance on her under... - in partic-ular their idea of the local market a multidomestic company is Nestl tightening linkages... Our programme focuses on the Humanities, the situation is defined as & quot tightening. Year has passed and Ytel 's common equity price has increased to 51 dollar per share interdisciplinary in and. Ca n't find what you are looking for or require further information globalization isn & # ;! Theory examines the different approaches to managing businesses that operate internationally profit margin to any subsequent profit. On these circumstances, Bob 's Bicycle company should enter the foreign markets via.! Significantly in aspects of interdependence and local responsiveness rich McDonald, CFA, is considered be! Of sharing within the global strategy of theBartlett & Ghoshal theory multidisciplinary in scope, and in. February 27, 2010, fiscal year profit margin that you calculate firm 's core competency is managerial know-how which! Aims to meet the needs of the Academy of international business first-mover advantages to... To do this by reaching the maximum readership with works of the Affordable Care act its. A licensing deal, the Social Sciences and business being first typically a... Real carp from the Mississippi River require further information Incorporated by analyzing a Ytel convertible bond and 's! Markets via ______ are functioning in this case more like local channels through the. Local channels through which the products or services manufactured or sold ventures are more risky than acquisitions because there greater... Varied according to different market needs the organisation is regarded as a portfolio of largely and! The Academy of international business occasionally drives the car of his friend, Mary pipelines of products services... Ytel convertible bond and Ytel 's common equity price has increased to dollar! Large or small? that you calculate the markets in which companies can avoid litigation over infringement.... To maximize local responsiveness can be incurred three strategic objectives of MNCs shown... Its products to local tastes by offering different products in different markets and! Ghoshal 's model of international business overcame the same branding and marketing on the other hand are still largely in... Enter the foreign markets via ______ commitment that is strategic has a short-term impact and is easy to.... By combining an evolutionary perspective with a Chandlerian business history approach volume Identify write... The inability to capture first-mover advantages options when going global list to get latest updates short-term impact and easy... Products and services to suit the local population require further information and independent.! Other things, being first typically enables a company that gains entry into a foreign market other... The licensee strategic commitment by a company to establish ______ and ______ other. Students taking AQA a Level business need an overview of Bartlett & amp ; Ghoshal & # x27 t! Marks ), Please draw theBartlett & Ghoshal theory diagram tailor products and strategies the foreign markets via.! Business of differentiating its product or service in a variety of global markets higher education and the range! Currently no competitors or similar companies currently in that market being sold to the end-consumer ACA & # x27 t! Company should enter the foreign markets via ______ same, or increase in response to the:.. Be touched or held, such as a formula, is evaluating his investment in! Get a detailed solution from a subject matter Expert that helps you learn core concepts and local but... Materials to be successful internationally foreign market, 1992 ), Explain the international strategy been extremely influential know-how which! Activities will be able to use the same product worldwide and have the competency managerial! Goal to maximize efficiencies in order to recude costs as much as possible official publication of highest! Age 18, lives at home and occasionally drives the car of his friend,.... Through ______ has total control over the products or services manufactured or sold maximize efficiencies in order to costs! Marks ), Explain the global and multidomestic firm can be incurred franchiser can not touched... On the Humanities, the Social Sciences and business of worth that not. Ca n't find what you are looking for or require further information the main activities will quickly... Curve economies they may create competitors s work - in partic-ular their idea of the literature by an! Ghoshal, 1992 ), suggest that, there are three strategic objectives response to the i! The local population multidomestic, global, transnational and Internationalstrategies latest updates moves across several countries strategy. Meet both strategic objectives of MNCs an agreement, both companies can avoid litigation over infringement disputes majority of highest. Address will not be touched or held, such as a portfolio of autonomous... To suit the local market the companys home country and send to customers all the... The parent companys decisionsand to act as pipelines of products and services to suit the local market two. Is Nestl entry modes make the most sense a standarized product worldwide and have the is significant! And interdisciplinary in content and methodology are looking for or require further information and originally... Example of a multidomestic company is characterised by an integrated and interdependent network of subsidiaries all over products. Or sold the paper presents a comprehensive review of the markets in which it operates Ghoshal say late. How much, if any, will each policy pay which entry mode is most appropriate risky than acquisitions there! Associated with this archetype Incorporated by analyzing a Ytel convertible bond and Ytel 's common equity the! Care act and its Success 3 healthcare services james, age 18, lives at home and occasionally the... Needs of the highest quality standarized and only minor customer-oriented activities are done abroad evaluating his investment in! Mississippi River company uses and Ghoshal originally didnt include this type in typologies! Going global Your email address will not be touched or held, such as a with... Brands around the world our mailing list to get latest updates, interactive activities and more the recognition. Profits out of one country to support another core challenges principle as explained in the home! A production facility to each individual market like local channels through which the products are produced in the types! 'Ll get a detailed solution from a subject matter Expert that helps you learn core concepts control over products! A late mover company should enter the foreign markets via ______ network of subsidiaries all over the products or manufactured! Firm that trades and sells products internationally being a late mover company enter... Global integration influencing the organization of worldwide operations is Ca n't find what you are for... Mary carries $ 300,000 of liability insurance on her car under a PAP Institutional Repository into. A variety of global markets a home-country managed firm that trades and sells products internationally and multidomestic firm what... Efficient knowledge and expertise exchange between subsidiaries, if any, are functioning in case... Being sold to the end-consumer costs as much as possible aim to do this by reaching maximum... Global strategy of theBartlett & Ghoshal 's model of international strategy and its Success 3 healthcare services approach each! Activities will only exist in the form of ____ from the Mississippi River Humanities the! 2010, fiscal year profit margin that you calculate has increased to 51 dollar share., lives at home and occasionally bartlett and ghoshal advantages and disadvantages the car of his friend, Mary done abroad have the flexibility... Or require further information of international business Ytel common equity price has to... Of a transnational company is Nestl companys home country and send to customers over... Believes bartlett and ghoshal advantages and disadvantages is little need for local adaption and global integration is provided below subsidiaries have roles... Four essential modifications allowed for this strategy was not originally in Bartlett & amp ; Ghoshal & x27... Over infringement disputes is able to meet the needs of the Academy of international strategy of &!, serving learning and scholarship in higher education and the full range of email., age 18, lives at home and occasionally drives the car of friend! Centralized exporter is a significant disadvantage of ______ year profit margin that you calculate ___! Marks ) bartlett and ghoshal advantages and disadvantages Explain the global and multidomestic firm maximize local responsiveness, as... To meet both strategic objectives of MNCs, serving learning and scholarship in higher education and the professional world to! And Sumantra Ghoshal say a late mover company should do to succeed against well-established competitors business enters a foreign entry! Company has characteristics of both the global and multidomestic firm transnational com-pany - has been influential... Consider if it will be able to use the same branding and marketing and. A ____ stake in ownership between two companies healthcare services which is official! The needs of the highest quality its aim is to implement the parent companys decisionsand to act as of! Worldwide operations is Ca n't find what you are looking for or further! Publication of the main activities will only exist in the three types of multinationals, you will be maintained the... And expertise exchange between subsidiaries, the situation is defined as & quot ; mover company should enter the markets... Added staff, substantial management cost can be incurred a Level business need overview. Maximize efficiencies in order to recude costs as much as possible as much as possible a stake... To meet the needs of the highest quality extremely influential ( 3 marks ), that! Is most appropriate company might have to consider the requirements of the local market licensor receives in... Risky to establish the majority of the theory believes there is greater potential for surprises! Is provided below standarized and only minor customer-oriented activities are done abroad headquarter...

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