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CHAPTER 7
STRATEGIES FOR COMPETING IN INTERNATIONAL MARKETS
Student Version Copyright ®2012 The McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
WHY COMPANIES DECIDE TO ENTER FOREIGN MARKETS
To gain access to new customers
To exploit core competencies
To spread business risk across a wider market base
To achieve lower costs and economies of scale
To access resources and capabilities in foreign markets
7–2
WHY COMPETING ACROSS NATIONAL BORDERS MAKES STRATEGY MAKING MORE COMPLEX
1.
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Industry competitiveness factors that vary from country to country
Location-based advantages for certain countries
Differences in government policies and economic conditions
Currency exchange rate risks
Differences in cultural, demographic, and market conditions
7–3
Political and Economic Risks
♦Political Risks
● Stem from instability or weaknesses in national governments and hostility to foreign business.
♦Economic Risks
● Stem from the stability of a country’s monetary system, economic and regulatory policies, lack of property rights protections, and risks due to exchange rate fluctuation.
7–4
The Risks of Adverse Exchange Rate Shifts
♦Effects of Exchange Rate Shifts:
● Exporters experience a rising demand for their goods whenever their currency grows weaker relative to the importing country’s currency.
● Exporters experience a falling demand for their goods whenever their currency grows stronger relative to the importing country’s currency.
7–5
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