dvantage in to entering foreign markets. Since a lot of companies don't have this competitive advantage they need to rely more on the internationalization process. They can do this by following what is called the "Way Station" approach to the internationalization journey(Monti 2).The way station has four different components: planning a trip, selecting the mode of transportation, dealing with roadblocks, and making a commitment. Each of the four components can be either the "high road" approach or the "low road" approach. The high road gets better long-term results, whereas the low road can obtain quicker, easier results but usually at the expense of not building a sound long-term position(Monti 2). Planning the tripThe objective is to leverage core competencies into under-served market opportunities(Monti 2). If a company takes the high road approach this means being proactive. Being proactive is anticipating the needs of customers and preparing to meet their future requirements better than competitors can. If the high road is taken companies will be leading with strengths, defining success broadly, setting lofty goals, and establishing immediate targets. In contrast, the low road approach to planning the trip means being reactive. A company will rely on personal experiences and gut feelings. The low road includes exporting labor to lower-cost markets. Of course, many companies have successfully gone overseas seeking cheaper labor. But these companies, include Nike and Levi-Strauss, already had other sources of competitive advantage, such as styling and branding(Monti 3). Reactive strategies can work to begin with, they are not the best method for long term ventures.Selecting the Mode of TransportHow a company chooses to enter a country or market-through a joint venture, an acquisition, or a direct investment-is the second most important decision in the internationalization journey(Monti 4). The high road approach means ...
