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geb9 - sometimes formally and other times informally WHERE...

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Chapter 10 Learning Objectives After studying this chapter, you should be able to: 1. Understand how institutions and resources affect liability of foreignness  1. Match the quest for location-specific advantages with strategic goals ( where  to  enter) 1. Compare and contrast first- and late-mover advantages ( when  to enter) 1. Follow the comprehensive model of foreign market entries ( how  to enter) 1. Participate in three leading debates on foreign market entries 1. Draw implications for action
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LIABILITY OF FOREIGNNESS  the  inherent  disadvantage foreign firms experience  in host countries because of their nonnative status  differences in formal and informal institutions  governing the rules of the game in different countries  local firms are already well versed in these rules, but  foreign firms have to learn the rules quickly  foreign firms are often still discriminated against, 
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Unformatted text preview: sometimes formally and other times informally WHERE TO ENTER? location-specific advantages - favorable locations in certain countries may give firms operating there an advantage agglomeration - beyond geographic advantages, location-specific advantages also arise from the clustering of economic activities in certain locations natural resource seeking - resources are tied to particular foreign locations innovation seeking - firms target countries and regions renowned for generating world-class innovations market seeking - firms go after countries that offer strong demand for their products and services efficiency seeking - firms single out the most efficient locations featuring a combination of scale economies and low-cost factors...
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