Global markets can have a significant impact on strategy. With globalization, there are more opportunities than ever before for firms to sell products and services around the world. Whereas in the past strategy might have been developed for local areas or at best regional areas, firms today must take into account the entire world. De Brentani (2010) notes that this can have a significant effect of product development. Global firms now must think about how well a new product idea will translate to foreign markets. This results in changes to the way companies approach innovation, as they must be careful with their products and branding to ensure the broadest appeal possible.

Global markets also mean the opportunity to tap into global resources. International markets are not just a source of revenue but a source of ideas as well. For example, innovation derived from international operations can be applied around over...
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