Global synergies: the reuse or sharing of resources by a corporation and may include marketing departments or other inputs that can be used in multiple markets. This includes, among other things, brand name recognition. Global strategic motivations: other factors beyond entry mode that are the basic reasons for corporate expansion into an additional market. These are strategic reasons that may include establishing a foreign outpost for expansion, developing sourcing sites among other strategic reasons. Means of businesses Entry modes: Export/import, wholly owned subsidiary, merger or acquisition, alliances and joint ventures, licensing Modes: importing and exporting, tourism and transportation, licensing and franchising, turnkey operations, management contracts, direct investment and portfolio investments. Functions: marketing, global manufacturing and supply chain management, accounting, finance, human resources Overlaying alternatives: choice of countries, organization and control mechanisms Physical and social factors Geographical influences: There are many different geographic factors that affect international business. These factors are: the geographical size, the climatic challenges happening throughout the world, the natural resources available on a specific territory, the population distribution in a country, etc. Social factors: Political policies: political disputes, particularly those that result in the military confrontation, can disrupt trade and investment. Legal policies: domestic and international laws play a big role in determining how a company can operate overseas. Behavioural factors: in a foreign environment, the related disciplines such as anthropology, psychology, and sociology are helpful for managers to get a better understanding of values, attitudes, and beliefs. Economic forces: economics explains country differences in costs, currency values, and market size. Risks Faulty Planning To achieve success in penetrating a foreign market and remaining profitable, efforts must be directed towards the planning and execution of Phase I. The use of conventional SWOT analysis, market research, and cultural research, will give a firm appropriate tools to reduce risk of failure abroad. Risks that arise from poor planning include: large expenses in marketing, administration and product development (with no sales); disadvantages derived from local or federal laws of a foreign country, lack of popularity because of a saturated market, vandalism of physical property due to instability of country; etc. There are also cultural risks when entering a foreign market. Lack of research and understanding of local customs can lead to alienation of locals and brand dissociation. Strategic risks can be defined as the uncertainties and untapped opportunities embedded in your strategic intent and how well they are executed. As