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The term "global responsiveness" describes a system's or organization's capacity to swiftly and successfully adjust to global issues, cultural differences, worldwide marketplaces, and economic upheavals. It entails taking the initiative to satisfy various client wants, legal specifications, and new trends in various geographical areas.

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It is generally defined as the establishment of two or more companies with joint capital, each owning part of the equity, and jointly sharing profits, expenses, risks, and control over the company. Unlike strategic alliances, strategic alliances have nothing to do with the company's equity and are not rigourous in form.

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Franchising

Franchising is basically a right that manufacturers or businesses give to others.This right allows the beneficiaries to sell the products or services of these manufacturers or parent businesses

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Sovereignty can generally be defined as supreme authority. Sovereignty entails hierarchy within a state as well as external autonomy for states. In any state, sovereignty is assigned to the person, body or institution that has the ultimate authority over other people and to change existing laws.

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Indirect exporting is a method used by companies to sell their goods or services to foreign markets without directly handling the export process themselves. Instead of managing the complexities of international trade, companies work with intermediaries who take responsibility for selling their products abroad.

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The term foreign direct investment (FDI) refers to an ownership stake in a foreign company or project made by an investor, company, or government from another country.

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It is the process of combining different markets and economies into a global system where goods, services, capital, and people move across the globe more freely. It encompasses the economic, political, and cultural integration that results from globalization .

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Contracting goods or services from an outsider

Example

No one from others countries question out sourcing

Muhammad umar yasin

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A transnational strategy is a business approach where a company aims to balance global integration and local responsiveness, operating across multiple countries with a mix of standardized and customized products and services.

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Offshoring means moving a company’s work to another country, often to save money or find skilled workers.

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Are the factors that influence supply and demand, and it play a crucial role in shaping the market psychology.

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Adaptation can helps businesses survive in changing markets. By making products, services, or strategies better, companies can meet demand, in short, respond flexibly to change.

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When a company comes up with a plan to expand it's operations and compete effectively in global markets.

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Free trade is a trade policy that does not restrict imports or exports.

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It is an economic policy aimed at shielding a country's domestic industries from foreign competition. This is typically done through measures such as tariffs, quotas, subsidies, or import restrictions, with the goal of promoting local businesses, preserving jobs, and reducing dependence on foreign goods and services.

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Multi-domestic strategy definition:

Which companies try to achieve maximum local responsiveness by customising both their product offering and marketing strategy to match different national conditions

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Globalisation is the process by which countries and people are becoming more connected. Improvements in transport and communications enable people, goods, capital and information to move between countries.

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A mix of "globalisation" and "localisation," it describes the adaptation of global products or services to suit local markets or conditions, balancing worldwide standards with local preferences.

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Standardisation, or standardization, is the process of establishing and implementing agreed-upon rules or guidelines to ensure consistency, quality, and compatibility across various activities, products, or services

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It’s about a way or a plan a company uses to help them expand their operation and sales into new markets .

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