Asked by Micah Awisus on May 10, 2024
Verified
A common first step into international business is global sourcing.
Global Sourcing
The practice of seeking resources, goods, or services from the global market, typically to leverage cost advantages, expertise, or efficiencies.
- Recognize the different methods for penetrating international markets, such as importation, exportation, worldwide sourcing, and obtaining licenses.
Verified Answer
SM
Samin MagarMay 16, 2024
Final Answer :
True
Explanation :
Global sourcing involves finding and purchasing goods or services from suppliers located in different countries, which is often the first step for businesses looking to enter international markets.
Learning Objectives
- Recognize the different methods for penetrating international markets, such as importation, exportation, worldwide sourcing, and obtaining licenses.