After reading this chapter you should be able to:

Understand the benefits MNCs can achieve using global integration or local adaptation.

Understand the conflicting pressures of the global–local dilemma faced by international managers in MNCs.

Know the content of the basic multinational strategies: transnational, international, multidomestic, and regional.

Choose a multinational strategy by using the diagnostic questions that help MNCs to cope with the global–local dilemma.

Understand the unique challenges faced by emerging market MNCs when executing multinational strategies.

Understand the unique challenges faced by MNCs when executing multinational strategies in emerging