List and briefly describe the four basic strategies a firm c

List and briefly describe the four basic strategies a firm can employ to compete globally.

Solution

Below strategies a firm can employ to compete globally:

Low Pricing Strategy: Offering products and services at lower price point as offered by competitors.

Better Quality Products: Offering higher quality products by technology up-gradation and tighter quality control measures.

Licensing or Franchise: Company can either use Licensing or franchising method to lower initial setup cost for the company.

Customized Offerings: Have different customized offerings based on the geography you are trying to target.