Question: Explain how each approach is plotted on Figure 7.2 and explain the differences between the three approaches. Please answer in 5+ sentences. FIGURE 7.2 Three

Explain how each approach is plotted on Figure

Explain how each approach is plotted on Figure 7.2 and explain the differences between the three approaches. Please answer in 5+ sentences.

FIGURE 7.2 Three Approaches for Competing Internationally High GLOBAL STRATEGY Think Global-Act Global TRANSNATIONAL STRATEGY Think Global-Act Local Benefits from Global Integration and Standardization MULTIDOMESTIC STRATEGY Think Local-Act Local Low Low High Need for Local Responsiveness

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