Nate, the CEO of Venus Corp., decides to make some changes to the strategies adopted to operate in global market.Although he still remains with the multidomestic strategy, he decides to manage the variations and the costs incurred through it by allowing a local firm to take up a franchise.This ensures that Venus does not have to work on adapting the product to the local needs.Which strategy has Nate adopted to manage the variations?

Question

Quizplus · Accepted Answer

Nate has adopted the Externalize Adaptations strategy by allowing a local firm to take up a franchise to manage the variations and costs incurred in the global market. This strategy involves outsourcing the adaptation process to a local firm, which can help reduce the costs and complications associated with adapting the product to local needs.