What is an essential requirement for experienced, as well as new, firms to succeed in international markets?
A) adhering strictly to their traditional methods of production and operations
B) focusing primarily on their production to exclusively meet domestic demand
C) venturing into multiple markets by investing in all of them at once
D) committing themselves completely to foreign markets
E) having beneficial relations with lobbyists of foreign markets

Question

Quizplus · Accepted Answer

Committing completely to foreign markets is essential for firms to succeed internationally. This commitment involves understanding and adapting to the local culture, regulations, and market needs, which are crucial for gaining a competitive edge and establishing a strong presence in the international market.

What Is an Essential Requirement for Experienced, as Well as New