Explain why companies compete abroad, and evaluate the advantages and disadvantages of going global.
■ Firms expand beyond their domestic borders if they can increase their economic value creation (V – C) and enhance competitive advantage
■ Advantages to competing internationally include gaining access to a larger market, gaining access to low-cost input factors, and developing new competencies.
■ Disadvantages to competing internationally include the liability of foreignness, the possible loss of reputation, and the possible loss of intellectual capital.
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