Chapter 5 the Global Environment 1. The importance of a company’s decision to globalize Globalizing can be important considering the situation of business in crisis situations of pandemics. However, there have to be adequate resources available for ensuring that globalizing can be done properly. Globalizing will also require adequate, skillful, qualified, experienced and professional human resources to be acquired. 2. The four main strategic orientations of global firms These orientations will always be important to ensure that firms can customize their strategies. Otherwise, there can be inappropriate strategies developed and implemented. 3. The complexity of the global environment and the control problems that are faced by global firms This is important to ensure that the global environment can be managed by designing customized and appropriate resources. 4. Major issues in global strategic planning, including the differences for multinational and global firms These issues can create problems. Therefore, there has to be preparedness to resolve these issues. 5. The market requirements and product characteristics in global competition These are important for developing competitive advantage. 6. The competitive strategies for firms in foreign markets These are important to remain competitive in foreign markets.