Define and highlight factors that support multi-national business strategies.
The main multinational business strategies are-:
1) Multidomestic Strategy
A firm using a multidomestic strategy sacrifices efficiency in favour of emphasizing responsiveness to local requirement within the reach of its business.
2) Global Strategy
A firm using a global strategy sacrifices responsive to local requirements within each of its market in favour of emphasizing efficiency.
3) Transnational Strategy
A firm using a transnational strategy seeks a middle ground between a multidomestic strategy and a global strategy. Such a firm tries to balance the desire for efficiency with the need to adjust to local preferences within the various countries.
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