1. What most distinguishes domestic and global market? And why?
Domestic market is the financial market which targets a single market. This kind of market deals with only one set of competitive, economic, and market issues. Similarly it faces only one set of customers even though a company has a different segments in the market. Domestic market is also known as an internal market and domestic trade. This market has a very limited scope because the market is within country’s own borders.
Global market is the financial market that targets the worldwide scale. It represents the buying and selling the goods all around the world. It has to deal with different sets of competitive, economic and market issues. This kind of market implements several different marketing strategies based on the region the company is marketing to attract the customer’s attention. It has a very wide scope since the market runs globally.
The major differences between domestic and global markets with the explanation are presented in the following chart:
Domestic Market Global Market
Because it targets the single market Unstable:
Because it targets the multiple markets
Because it has a single set of customers Unpredictable:
Because it has multiple sets of customers
Because it has a limited scope Complex and Risk:
Because it has a unlimited scope
2. What roles do ethics play in international strategy on both a business and corporate level of strategy?
International strategy is the strategy through which the firm sells its goods or services outside its domestic market.
Ethics play a vital role in international strategy on both a business and corporate level of strategy. Strong ethical policies in international strategy help to add great value to a brand. It helps to perform right thing socially, economically and environmentally. This also helps to find the bottom line benefits from demonstrating high ethical standards.
3. What roles do ethics play in cooperative strategy on both a business and corporate level of strategy?
Cooperative strategy is the strategy in which firm collaborate for the purpose of working together to achieve shared objectives.
Ethics plays a very important role in cooperative strategy. It helps to monitor the environmental and social impacts of both a business and corporate level of strategy. It helps people to do what is right and to avoid doing wrong thing. It helps to maintain the standard of the company along with helping to increasing employee loyalty and the pride of the company.
4. Why is there a constant tension that exists between opportunism and cooperation in business strategy? And, how has technology impacted this tension.
There is a constant tension that exists between opportunism and cooperation in business strategy because opportunism is known as seeking gain for oneself at the...