Describe the four steps a firm should take when it is considering going global
What will be an ideal response?
Management first needs to examine whether it is in the firm's best interest to focus exclusively on the home market or to move out into foreign markets. This is a "go" or "no go" decision. The second step, if the decision is "go," is to determine which international markets are most attractive for the company. Some countries will hold greater opportunities than others. After attractive markets are identified, the third step is to determine which market-entry strategy, and thus which level of commitment, is best for the firm. Finally, management must consider marketing mix strategies for foreign markets.
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Indicate whether the statement is true or false
Regier Company had planned for operating income of $10 million in the master budget but actually achieved operating income of only $7 million
A) The static-budget variance for operating income is $3 million favorable. B) The static-budget variance for operating income is $3 million unfavorable. C) The flexible-budget variance for operating income is $3 million favorable. D) The flexible-budget variance for operating income is $3 million unfavorable.