Identify and briefly describe a local company's strategic options in competing against global challengers.
What will be an ideal response?
If opportunity-seeking, resource-rich international companies are looking to enter developing-country markets, what strategy options can local companies use to survive? As it turns out, the prospects for local companies facing global giants are by no means grim. Studies of local companies in developing markets have disclosed five strategies that have proved themselves in defending against globally competitive companies.
1. Develop business models that exploit shortcomings in local distribution networks or infrastructure.
2. Utilize keen understanding of local customer needs and preferences to create customized products or services.
3. Take advantage of aspects of the local workforce with which large international companies may be unfamiliar.
4. Use acquisition and rapid-growth strategies to better defend against expansion-minded internationals.
5. Transfer company expertise to cross-border markets and initiate actions to contend on an international level.
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