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Umnica [9.8K]
3 years ago
14

When firms expand into global markets, they are faced with the choice of reducing costs and/or adapting to the local market. Whe

n high pressures exist to adapt locally, companies should choose a(n) ________ strategy or ________ strategy in order to compete in the global marketplace.
Business
1 answer:
Airida [17]3 years ago
6 0

Answer:

Global strategy; Transnational strategy

Explanations:

Companies should choose a global strategy or transnational strategy

A global strategy is a technique used by a firm to expand and compete in the global market. It is the plans made by a firm to grow beyond it's border.

Global strategy covers three other strategies

1. International strategy

2. Multinational strategy

3. Global strategy

A firm adopt global strategy in order to increase its sales of products and Profit.

Transnational strategy is a technique which allows firms to expand sales of goods and services while taking into consideration the difference in culture of people.

Transnational occurs when a company in China wants to expand to other countries like Nigeria. For China to have a smooth operation, it must first take into cognizance our culture and believe.

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