Develop an International Strategy for Your Own Small Business: Achieving the Right Global Mode of Entry Now that you have identified the target regional economic zone (Chapter 3) and country where you would like to conduct business, your next step will be to determine the mode of entry into that foreign market. The following questions will assist you in identifying the right strategy: · 1) International Business Risk Management

International Business Risk Management
In 2020’s Journal of International Business Studies, a study found that international businesses can take varying levels of risk depending on their size, industry and location (Lin and colleagues, 2020). Companies should carefully evaluate their tolerance for risk before entering foreign markets. This is because the risk level can impact the success of their business operations. Importing and exporting are both ways of reducing risk for international businesses. The sale or purchase of products and services in another country is called exporting. Importing, on the other hand, refers to purchasing goods and services from overseas suppliers. This activity can allow companies to access international markets without taking on as much risk as traditional entry methods such as joint ventures and foreign direct investment. Cont…
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