What Are the Risks of Relying Only on the Export

question 68

Essay

What are the risks of relying only on the export option for entering into a foreign market?

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Definitions:

Rules of Thumb

Simple, general principles or guidelines that are used to make decision-making quicker, albeit less precise, often based on practical experience rather than theory.

Decision Making

Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Biases

Systematic patterns of deviation from norm or rationality in judgment, where particular feelings or opinions influence decision-making.

Uncertainty

Describes a situation where the outcomes or consequences of actions are unknown and unpredictable.