What Is an Outside-In and Inside-Out Framework? Using Examples, Describe

question 22

Essay

What is an outside-in and inside-out framework? Using examples, describe each and how they are related to international studies.

---

Definitions:

Innovation

The introduction of new ideas, products, or methods, aiming at improving efficiency, value, or creating something novel.

Profit-Maximizing

A strategy aiming to achieve the highest possible profit from business operations.

ATC

Short for Average Total Cost, ATC represents the total cost per unit of output, calculated by dividing the total cost by the quantity produced.

Monopolistic Competition

A business environment where a multitude of firms provide closely related but not identical products, granting them some market control.