Please make sure that it is your own work and not copy and paste off of someone else work or article. Please make sure that you watch out for spelling errors and grammar errors, Please make sure that you read the study guide and use the APA format.
Book reference: Hill, C. W. L. (2021). International business: Competing in the global marketplace (13th ed.). McGraw-Hill Education. https://online.vitalsource.com/#/books/9781264123926
A small Canadian firm has developed new medical products using unique biotechnology know-how. The cost of investment in manufacturing facilities will be a major one for the Canadian firm, but it is not outside its reach. The firm is trying to decide how best to serve the European Union market. The firm is evaluating three strategies, which are listed below.
- Manufacture the products at home, and let foreign sales agents handle marketing.
- Manufacture the products at home, and set-up a wholly owned subsidiary in Europe to handle marketing.
- Enter an alliance with a large European pharmaceutical firm. The products would be manufactured in Europe by the 50-50 joint venture and marketed by the European firm.
Which one would you advise it to choose? Explain