There are at least seven dimensions along which management can globalize (standardize):
- Product
- Markets
- promotion
- where value is added to the product
- competitive streategy
- use of none-home-country personnel, and
- extent of global ownership in the firm.
The posibilities range from zero standardization (multidomestic) to standardization along all seven dimensions (completely global). The challenge for company managers is to determine how far the firm should go with each one. Usually the amount of globalization will vary among the dimensions. For example, the promotion for washing machines might be standardized to a great extent: People use them to get their clothes clean, but for economic reasons, in poorer countries the machines must be simpler and less costly. Therefore, the product is not standardized worldwide.
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