What characterizes an international strategy?

An international strategy is characterized primarily by the utilization of core competencies globally with minimal local adaptation. This approach allows a company to leverage its strengths, such as technology, brand reputation, or unique processes, in various markets without making significant modifications to its products or services. By focusing on what it does best, a company can achieve economies of scale, reduce costs, and maintain a consistent brand identity across different regions.

The emphasis on minimal local adaptation is crucial, as it allows businesses to streamline operations and avoid the complexities and costs associated with customizing products or services for each specific market. This strategy can be particularly effective in markets that are relatively similar in terms of consumer preferences, regulations, and competitive landscapes.

In contrast, extensive local adaptation involves tailoring products to meet the specific tastes or needs of each market, which can lead to higher costs and challenges in maintaining brand consistency. Customizing every product for local markets indicates a highly localized strategy, deviating from the core principles of an international strategy. Lastly, standardizing products across all regions may work in some contexts but lacks the flexibility that characterizes the nuanced approach of an international strategy focused on core competencies and selective adaptation.