The company’s exit strategy to the foreign marke

Abstract

Importance: the article identifies and systematizes internal and external factors influencing the choice of strategy for industrial companies entering foreign markets with high-tech products, describes major barriers to effective foreign economic activity organization. Purpose: to assess the potential and level of development efficiency in foreign economic activities of Voronezh region. Research design: аclassification is provided along with key characteristics of methods and strategies used by industrial enterprises when entering international markets depending on risk factors, control levels, and profit potential. Theoretical and methodological foundations of industrial enterprise entry into global markets are analyzed considering motives, factors, implementation methods within the context of leading theories of enterprise internationalization process evolution as well as practical experience from various countries worldwide. Based on generalized strategic frameworks for formulating corporate strategies aimed at entering foreign markets, a typology of such strategies has been developed including their core attributes and functional components. Results: аn overview of approaches to classifying methods and strategies for entering foreign markets proposed by domestic and foreign authors was conducted. Research of theoretical and methodological principles concerning the process of enterprise’s entrance onto the international stage, taking into account motivation, key factors, and implementation methods of this strategy was carried out. Typologies of these strategies were examined, their characteristic features and functional elements defined. Analysis of methodologies for developing strategies targeted towards industrial enterprises’ entrance into foreign markets was performed.