International firms or multinational corporations are organizations that conduct business operations across national borders.
2. The strategic-management process is conceptually the same for multinational firms as for purely domestic firms, although the process is more complex for international firms due to more variables and relationships.
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3. More time and effort are required to identify and evaluate external trends and events in multinational organizations than in domestic corporations.
4. Multinational corporations face unique and diverse risks, such as expropriation of assets, currency losses through exchange rate fluctuations, unfavorable foreign court interpretations of contracts and agreements, social/political disturbances, import/export restrictions, tariffs, and trade barriers.
5. Before entering international markets, firms should scan relevant journals and patent reports, seek the advice of academic and research organizations, participate in international trade fairs, form partnerships, and conduct extensive research to broaden their contacts and diminish the risk of doing business in new markets
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