What Is International Strategy?
International strategy is a global plan specific to a company or conglomerate where a model for global expansion and commerce is the ultimate goal. International strategy usually refers to actions that occur across multinational corporations in the private sector. Although international strategy refers to doing business across nation-state boundaries, it is based on home market resources. This business model tests which foreign markets are receptive to domestic products.
There are several different international strategies that apply to the different world markets and cultures. No matter how different international strategies are, they all start with analyzing the market and sizing up the competition. For an international strategy to work successfully, a company must have a method of entry and buyers for their service or product. There must be a long-term goal in mind and a growth projection which answers the question “Why here?”
No matter how intricate or specialized an international strategy, they all have pros and cons. For the most part, a pro that comes along with an international strategy is a larger consumer base. One of the cons that come along with an international strategy are the questionable politics and exploitive measure that sometime accompany the endeavor. When a well-designed international strategy comes together properly, the result is a win-win scenario for the companies and markets involved.