International strategy is the third and final type of strategy presented in this textbook. The first, generic business-level/competitive strategy, is how companies directly compete with rivals on their products and services. Corporate strategy is how a firm might diversify to compete in other industries or expand geographically to reduce risk and grow profits. In international strategy, a firm may desire to expand by entering into new foreign markets or to lower its costs. There are advantages and opportunities when going international, but it is not without risks. There are several tools that firms use to help them assess their potential success when their strategic management process points them abroad. Firms will need to determine which one of four international strategies will work best and which method to enter another country. Some US companies have found great success going international, while others have struggled or failed.
Strategic Management by Reed Kennedy is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.