Chapter 8: International Expansion and Global Market Opportunity Assessment

I. Think about the ideas and information of the topic and find what is relevant to you

GLOBAL STRATEGIC CHOICES

A global strategy is a strategy that a company develops to expand into the global market.
The purpose of developing a global strategy is to increase sales across the world. The term
"global strategy" includes standardization, international and multinational strategies. Developing
a global strategy can benefit your company in many ways, including making sales in new
markets, increasing your global brand awareness and more. To develop this global strategy, it's
important to consider how your business's products can perform in global markets. Global
strategy creation also involves analyzing your competitors, global customers, production sites
and other components of your business to help you ensure that your business succeeds in the
global market.

II. See how the teachings of the topic in the course may be applied to your experiences

- such as how a certain theory explains what is going on in your current situation.

This topic help us student to understand the different strategic choices that help

the businesses to ensure the efficiency and stability of their company. In relating in my

current situation the strategy is about choice.  Not any kind of choice, but the critical

forks in the road. Those moments where you have to make discrete choices whether to

turn left or right, without having the option of turning back easily if things don't turn out

the way you hope they will. Strategic decisions are trade-off decisions, which require us

to weigh one option against the other, and to resolve daunting dilemmas. This is why

making, and even more so, implementing strategic decisions can turn into overwhelming

tasks that often lead to failure.

III. Criticize the divergent view points presented in the course/topic

IV. Indicate what you find most interesting or most difficult in the course

materials/topics.

I find the most interesting part of the discussion is the International expansion entry

modes. Because in this, businesses can choose from among several modes of foreign market

entry, including exporting, contractual agreements, joint venturing, acquiring an existing

company, and establishing a wholly owned greenfield investment from scratch. However, the

majority of literature on foreign market entry mode choices has focused on large multinational

enterprises. It helps to analyze the determinants of foreign market entry mode. Studying this

lesson also helps the innovation, product characteristics, advertising intensity, export intensity of

the products and industries have positive effects on the high-level resource commitment choice

in foreign markets.

Chapter 9: Exporting, Importing, and Global Sourcing

I. Think about the ideas and information of the topic and find what is relevant to you

WHAT IS IMPORTING AND EXPORTING

Exporting is defined as the sale of products and services in foreign countries that are

sourced or made in the home country.While importing is the flipside of

exporting. Importing refers to buying goods and services from foreign sources and bringing them

back into the home country. Importing is also known as global sourcing. Companies export

because it’s the easiest way to participate in global trade, it’s a less costly investment than the

other entry strategies, and it’s much easier to simply stop exporting than it is to extricate oneself

from the other entry modes. The benefits of exporting include access to new markets and

revenues as well as lower manufacturing costs due to higher manufacturing volumes.

II. See how the teachings of the topic in the course may be applied to your experiences

- such as how a certain theory explains what is going on in your current situation.

Exporting and importing plays a very important role in our life and of course the

development of our economy because not all countries are capable doing and producing

certain goods and services. If the economy are very poor in importing and exporting the

goods and services, the life of people in the country will be affected it might be the cause

of having a poor life. International food trade importing countries gain environmental

benefits, while exporting countries suffer environmental problems by using land and

other resources to produce food for exports.

III. Criticize the divergent view points presented in the course/topic

IV. Indicate what you find most interesting or most difficult in the course

materials/topics.

 Learning export and export helps me to broaden my knowledge about the factors which

can have a huge impact on the success of the international business. Exporting and importing

goods is not just the core of any large, successful business but it also helps national economies

grow and expand. Country may lack other resources in order to develop and improve its overall

economy. It is encouraging to know why some countries have highly developed educational

systems or infrastructures, while others do not?Once countries start exporting whatever they are

rich in, as well as importing goods they lack, their economies begin developing. I learned that

importing and exporting goods is not only important for businesses ,but it is important for

individual consumers, too. Consumers can benefit from certain products or components that are

not produced locally, but are available to purchase online from a business abroad.
Chapter 10: Strategy and International Business

I. Think about the ideas and information of the topic and find what is relevant to you

INTERNATIONAL STRATEGY

International strategy is a business plan or strategy created by a company to do its

business in international markets. An international strategy requires analyzing the international

market, studying resources, defining goals, understanding market dynamics & develop offerings.

When a company hires international employees or searches for new markets abroad, an

international strategy can help diversify and expand a business. Economic globalization is the

process during which businesses rapidly expand their markets to include global clients.

There are three main international strategies the multi-domestic, global and transnational

strategies reflect trade-offs between local responsiveness and global efficiency For firms to gain a

competitive advantage, they have to devise strategies that take best advantage of the firm’s core

competencies and that are difficult for competitors to copy.

II. See how the teachings of the topic in the course may be applied to your experiences

- such as how a certain theory explains what is going on in your current situation

In this time of pandemic strategic planning is a very important factors that

business must considered, they must double the effort on thinking about how business

survived in order not to fall. This strategic planning is a vital activity for any business big
 or small, but it would be a very far-sighted firm who predicted COVID-19. This strategy

helps the business strive and thrive.

III. Criticize the divergent view points presented in the course/topic

IV. Indicate what you find most interesting or most difficult in the course

materials/topics.

The most interesting part in this topic is learning the three main international strategies.

The multi-domestic, global, and transnational strategies where in a  multi-domestic strategy have

as aim to meet the needs and requirements of the local markets worldwide by customizing and

tailoring their products and services extensively, while the global companies are the opposite of

multi-domestic companies. They offer a standarized product worldwide and have the goal to

maximize efficiencies in order to reduce costs as much as possible. And the transnational The

transnational company has characteristics of both the global and multi-domestic firm. Its aim is

to maximize local responsiveness but also to gain benefits from global integration.

Chapter 11: Global Entrepreneurship and Intrapreneurship

I. Think about the ideas and information of the topic and find what is relevant to you

ENTREPRENEURSHIP

In economics, entrepreneurship connected with land, labour, natural resources and capital can

generate a profit. The entrepreneurial vision is defined by discovery and risk-taking and is an

indispensable part of a nation’s capacity to succeed in an ever-changing and more competitive

global marketplace. Entrepreneurship is the ability and readiness to develop, organize and run a

business enterprise, along with any of its uncertainties in order to make a profit. The most

prominent example of entrepreneurship is the starting of new businesses.It has the ability and
desire to establish, administer and succeed in a startup venture along with risk entitled to it, to

make profits. The best example of entrepreneurship is the starting of a new business venture. The

entrepreneurs are often known as a source of new ideas or innovators, and bring new ideas in the

market by replacing old with a new invention.It can be classified into small or home business to

multinational companies. In economics, the profits that an entrepreneur makes is with a

combination of land, natural resources, labour and capital.

II. See how the teachings of the topic in the course may be applied to your experiences -
such as how a certain theory explains what is going on in your current situation.

The effect of COVID-19 on businesses has been large and overwhelmingly negative, and

effects can vary related to business characteristics, like industry, and business owner

characteristics, like race, cross business ages, entrepreneurs were most concerned with finding

new customers. Before the pandemic , I have a small business that really help me to make extra

income and to save money for myself, but during this pandemic my small business does not have

a life anymore, but I am looking forward for the reopening of classes to continue what I have

started. Among entrepreneurs with a new business, finding new customers surpassed funding to

start the business as the top reported challenge during COVID-19. Accessing startup and growth

financing during COVID-19 conditions was a bigger challenge for entrepreneurs with a new

business less than 1 year old, compared to entrepreneurs with a young or mature business.

III. Criticize the divergent view points presented in the course/topic

IV. Indicate what you find most interesting or most difficult in the course
materials/topics.FVGH’

V. I find interesting to study the entrepreneurship to born global firms because it able to build
social and business networks to gather reliable information on market conditions and
opportunities. The network, in providing information, supports the entrepreneur and allows the
firm to overcome resource constraints.