Companies striving for global market leadership pursue strategic alliances or collaborative partnerships with foreign companies in order toMultiple Choicerevamp the global industry value chain, raise needed financial capital from foreign banks, and wage price wars against foreign competitors. exercise better control over efforts to revamp the global industry value chain and combat the bargaining power of foreign suppliers. exercise better control over efforts to revamp the global industry value chain, insulate a company from the impact of the five competitive forces, and use the brand names of their partners to make sales to foreign buyers. increase the bargaining power of foreign suppliers and help defend against the competitive threat of substitute products produced by foreign rivals. get into critical country markets quickly, gain inside knowledge about unfamiliar markets and cultures, and access valuable skills and competencies that are concentrated in particular geographic locations.

get into critical country markets quickly, gain inside knowledge about unfamiliar markets and cultures, and access valuable skills and competencies that are concentrated in particular geographic locations.

Explanation:

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

Some examples of international economic organizations involved in global economy and trade are;

I. World Trade Organization (WTO).

II. United Nations (UN).

III. International Monetary Fund (IMF).

IV. United Nations Conference on Trade and Development (UNCTAD).

When a company or business firm strive for global market leadership, its main focus would be to pursue strategic alliances or collaborative partnerships with foreign companies. This would enable it get into critical country markets quickly and effectively, it would also gain an inside knowledge and understanding about unfamiliar markets, consumer demographics and cultures, as well as getting hold of valuable skills and competencies that are concentrated in specific geographic locations in the world.

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