How do you define a global strategy? Compare and contrast global strategy with other international expansion strategies

How do you define a global strategy? Compare and contrast global strategy with other international expansion strategies
Assignment details 4 pages, APA style

As the firm looks for ways to offset the domestic downturn in sales,
Deborah, the CEO of your company, wants to determine if a global
strategy is a good fit for the organization.  She has designated you
as the manager for this project.  You will work with your team to
develop a global marketing plan for your organization.
You begin your research in deciding if and what the global strategy
should be. You get your team together and begin to discuss a plan on
how you will research this possibility.
You start the meeting by saying “Let’s brainstorm and start to get a
plan together for a possible globalization strategy. Tiffany, I’d like
you work with me to begin researching possible locations.”
Tiffany says, “I think we need to research some locations, but I think
there is more to it than that. There still needs to be a decision on
the type of strategy or approach we are taking. Would we use a
multidomestic approach, a global approach, or a transnational
approach? I’m still not entirely convinced a global strategy is the
answer.”
“Great point, Tiffany. It is obvious to me as well that we need to
explore a strategy that will put us in a better position to handle the
economic downturn. We have to provide the board with the facts. They
seem to be leaning in the direction of a global strategy, but I’m not
sure it’s the right move either. That’s why we need to do research.”

Domestic profit margins have dropped by 2% this quarter. You wonder
how you and your team can help fix this. Is a global strategy the
answer, or should the company continue to focus on the domestic
market?

You call a team meeting to learn about the progress of their research.

Tiffany, one of your team members, begins the discussion. “I think we
need to look at some of the internal factors,” she says. “We know what
our capabilities are on the domestic front, but what about in the
global market? We have a fairly strong market presence here in
higher-end markets, but how does that translate globally?”
Discuss the following:
•       How do you define a global strategy? Compare and contrast global
strategy with other international expansion strategies.
•       Identify a minimum of 3 possible countries for globalization.
Research each of these locations in the furniture industry, and
document both the pros and cons of using these in global strategy.
•       What country would you choose? What evidence can you provide in
support of your choice?
•       What evidence might somebody else, who does not agree with you,
provide to support an alternative choice?
•       Recommend two or three areas to benchmark in preparation for the
decision regarding global expansion. MUSE materials provide
information regarding this topic.
The materials found in the M.U.S.E. may help you with this assignment,
such as the audio file Benefits of Globalization. This file provides
real-world experience, which may help you with this assignment

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