Jennifer Solomon International BusinessChapter 12 (1,8)1. What is international strategy, and why is it important?•International strategy is the way firms make choices about acquiring and using scarce resources in order to achieve their international objectives. It is important because it is needed to achieve and maintain a unique and valuable completive position both within a nation and globally. Managers are trying to develop a competitive advantage with its resources—time, talent, and money which are scarce. There are many alternative ways to use these scarce resources. A company’s managers are forced to make choices regarding what to do and what not to do, now and over time. Different companies make different choices, and those choices have implications for each company’s ability to meet the needs of customers and create defensible competitive decisions that do not make good sense competitively, and the company’s international competitiveness may be harmed. 38. What is scenario analysis? Why would scenario analysis be of value to an international company?
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