The strategic decision-making in international business

The strategic decision-making in international business presents for the firms in transitional economies new problems. The article emphasizes the necessity to follow sequential phases of strategic decision-making: setting of goal(s), selection and segmentation of countries' market, implementation of international form and strategy to market, and implementation of marketing instruments. In establishing goals, authors take into account international business. The selection of the market is being solved by the problem of selection (choice) of international market. The segmentation of international market consists of two phases: international segmentation, whose goal is the research of countries' markets from the perspective of structural segments, and transnational phase in which the attempt is to discover similarity or identity of structural segments in various countries' markets. The implementation depends in choosing the appropriate international form (direct and indirect export, licenses, international leasing, franchising, joint venture, distribution firm, assembly firm, manufacturing firm, sister company, etc.) as well as strategic market entry (total-growth, step-by-step, combination). In establishing marketing instruments, standardization plays an important role.