The correct answer is D. All of the above.
Companies can globalize their operations through different means, including exporting directly, licensing/franchising, and joint ventures.
Exporting directly is when a company sells its products or services to customers in other countries without using a third party. This can be done through a variety of channels, such as online sales, mail order, or through distributors.
Licensing/franchising is when a company grants another company the right to use its brand, products, or services in exchange for a fee. This can be a good way to expand into new markets without having to invest a lot of money or resources.
Joint ventures are when two or more companies form a new company to pursue a common goal. This can be a good way to share the risks and rewards of expanding into new markets.
Each of these methods has its own advantages and disadvantages. Companies should carefully consider their options before choosing the best way to globalize their operations.
Here are some additional details about each of the options:
- Exporting directly can be a good way to control the quality of your products and services, and to build relationships with customers in other countries. However, it can also be expensive and time-consuming to set up and manage an export operation.
- Licensing/franchising can be a good way to expand into new markets without having to invest a lot of money or resources. However, you will need to carefully select your licensees or franchisees, and you will have less control over the quality of their products and services.
- Joint ventures can be a good way to share the risks and rewards of expanding into new markets. However, you will need to find a partner that is compatible with your company, and you will need to be prepared to compromise on decision-making.