What is the primary concern regarding small and medium-sized firms entering the international market?*1 pointa) Access to technologyb) Cultural assimilationc) Governance methodsd) Market competition
Question
What is the primary concern regarding small and medium-sized firms entering the international market?*1 pointa) Access to technologyb) Cultural assimilationc) Governance methodsd) Market competition
Solution
The primary concern regarding small and medium-sized firms entering the international market is market competition. This is because these firms often lack the resources and capabilities to compete with larger, more established global companies. They may struggle to understand and adapt to the local market conditions, customer preferences, and regulatory environment. Additionally, they may face challenges in establishing a distribution network and brand recognition. Therefore, market competition is the biggest concern for small and medium-sized firms when entering the international market.
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