Identify the four major benefits of an international strategy. Explore the four factors that provide a basis for international business-level strategies. Describe the three international corporate-level strategies: multi-domestic, global, and transnational. Discuss the environmental trends affecting international strategy, especially liability of foreignness and regionalization. Name and describe the five alternative modes for entering international markets. Explain the effects of international diversification on firm returns and innovation. Name and describe two major risks of international diversification.