International, National & Local Economics
Creating a long-term global strategy is a complicated but important task. As is evident throughout this chapter, no country is an economic island, and the economy truly is global. A growing number of businesses have become true multinational firms, with operating facilities around the world. They have figured out how to mitigate their risks both politically and economically, but they have also found how events in one nation can reverberate around the world.
As U.S. businesses contemplate and engage in global expansion, there are endless opportunities, but also potential risks. The U.S. market is also attractive to foreign firms. For an organization to be successful in today’s global economy, its owners and stakeholders must look across borders and understand the global community.