Final answer:
To expand internationally, strategies such as decentralizing decision-making, implementing diversity programs, forming strategic partnerships, and mergers are commonly used. Globalization promotes government, culture, and financial market integration while preserving cultural identity during modernization is critical.
Step-by-step explanation:
To expand internationally, companies have often pursued organizational strategies such as decentralizing decision-making, implementing cultural diversity programs, forming strategic alliances and partnerships, and mergers. Each of these strategies has distinct advantages. Decentralizing decision-making allows for more local autonomy, which can be crucial for understanding and adapting to different markets. Cultural diversity programs can help ensure that a company is sensitive to the norms and values of the markets they are entering. Strategic alliances and partnerships offer a way to cooperate with local firms and leverage their existing knowledge and networks, which can be vital for successful market entry. Mergers, on the other hand, can lead to rapid expansion and economies of scale.
Globalization has significantly influenced these strategies. The integration of governments, cultures, and financial markets through international trade into a single world market is at the core of globalization. Nevertheless, it is noteworthy that integrating child care through international trade is not an aspect of globalization.
When core nations encourage modernization in peripheral nations, it is essential to be aware of preserving peripheral nation cultural identity, preparing for pitfalls that come with modernization, and avoiding hegemonistic assumptions about modernization. Additionally, multinational corporations do not necessarily concentrate wealth in the hands of core nations or establish their headquarters primarily in the United States, which contradicts some of the characteristics usually attributed to them.