Question

Discuss the differences between firm internationalization philosophies.

Answer 1

Q) Discuss the differences between firm internationalization philosophies?

Internationalization has been one of the strategies being used by most executives to reduce the cost of operations. Businesses with overhead costs can have the excess cost cut down in countries that have relatively deflated currencies as well as low cost of living. Most business in the United States finds it relatively cheaper operating in countries that have free trade arrangement with U.S. One way in which internationalization help companies reduce the cost of doing is business is through reduced labor costs. Companies that are interested in going international usually look for those markets that have a low cost of leaving as that makes it cheaper hiring employees in such countries. There are those companies that consider going international when in the financial crisis.

Globalization is also the process that affects all aspects of our lives such as economy, culture, political system, human well-being in society, being “the place” with a mix of diverse ideas and cultures. It includes many business-related activities and is a strategic approach to every company interested in expanding its products and services to new customers. It is composed of internationalization and localization.

Internationalization: means the process of designing and developing a product, website, game or application, so they can be easily localized for targeted markets that may vary in terms of culture, language, or region. Without a doubt, internationalization plays an important role in a globalized world and, for the technology industry, it is a “must-have” for businesses looking to reach new markets.