As with McDonald's, international strategic formulation requires a long-term perspective. Entry strategies, therefore, need to be conceived as part of a well- designed, overall plan. In the past, many companies have decided on a particular means of entry that seemed appropriate at the time, only to find later that it was shortsighted. For instance, if a company initially chooses to license a host-country company to produce a product, then later decides that the market is large enoughto warrant its own production facility, this new strategy will no longer be feasible because the local host-country company 4lready owns the rights.
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