Internationalisation
Internationalisation is the process whereby organisations venture into foreign markets. Some of the traditional methods used by firms to enter and serve these markets are:
- Inward modes which include activities such as purchasing of final goods, raw materials, components, machinery, technologies, licenses, or other know-how in these new markets
- Indirect modes include subcontracting to an exporting firm and indirect exporting through domestic or foreign agents or other intermediaries
- Direct modes cover direct exporting to foreign customers and the selling of licenses to licensees abroad
- Investment modes refer to investments in marketing or manufacturing firms abroad, either alone or in co-operation with another firm (joint ventures)
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