In a short essay, discuss why the expression "Think globally, act locally" oversimplifies the complexities of global competition for MNEs. What kinds of competition does the firm face as a result of following through with this advice?

What will be an ideal response?

The expression "Think globally, act locally" oversimplifies the true complexities of today's global competition; "Think globally and locally, and act appropriately" better describes the reality faced by MNEs today because firms must adapt their offerings to suit the culture, laws, income level, and other specific characteristics of each country–such firms are known as multidomestic industries, in which competition takes place on a country-by-country basis.

Also, there is the potential for fierce competition between domestic and international units for company resources.