What Entry Modes Are Available for Internationalization?
Several entry modes exist for internationalization, each with its own set of advantages and disadvantages. Exporting is the simplest form, involving the sale of goods and services to foreign markets. Licensing and franchising allow businesses to leverage their brand and operational model without significant capital investment. Establishing a joint venture or a wholly-owned subsidiary involves more substantial investments but offers greater control over operations. The choice of entry mode depends on the entrepreneur's resources, risk tolerance, and long-term objectives.