For a multinational corporation (or a company considering entry into the international arena), a more specific set of strategic alternatives, often varying by targeted country, focuses on different ways to enter a foreign market. Managers need to consider how potential new markets may best be served by their company in light of the risks and the critical environmental factors associated with their entry strategies. The following sections examine the various entry and ownership strategies available to firms, including exporting, licensing, franchising, contract manufacturing, turnkey operations, management contracts, joint ventures, and fully owned subsidiaries set up by the firm. These alternatives are not mutually exclusive; several may be employed at the same time. They are addressed in order of ascending risk.
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