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Foreign market

The decision to enter a foreign market by a firm through internationalization is one of the most important initiatives it can embark upon. Internationalization, globalization and International trade are areas that are widely covered, and much is already known about the various investment strategies. Firms beginning operations in a certain market are subject to the dictates of the host country and its set rules and regulations monitoring its commerce. Within development economics literature contained several theories that have attempted to explain the pattern of international business behaviour over the years.

In the abundance of such literature, many generalizations are easily made. Of course, the uses of generalizations are not harmful, as it helps to easily qualify a known and sometimes unknown phenomenon. However, this has to be obtained through research and not assumption. In today’s world of business, it is easy to make such assumptions about emerging markets in Africa, as being risky and unfruitful. Sometimes without careful examination, Multinational Enterprises (MNEs) can easily pass up growth industries as problematic.

And those that do decide to invest and fail in these markets tend to justify baseless generalizations. In an attempt to resist making such broad generalizations and thereby hindering the flow of

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knowledge, this qualitative research studied market investment strategy to be adopted by a Multinational called TopicalCare International Pharmaceuticals (not the real name), a subsidiary of a Japanese-American global pharmaceutical company for internationalization of its products into Nigerian pharmaceutical industry as one of the most important initiatives it can embark upon.

The research looked into various investment modes and drew out conclusions that TopicalCare could re-invest in Nigeria through any of the three available options namely; establishing wholly-owned subsidiaries, contractual agreements and mergers and acquisitions. Key words: internationalization, globalization, investment modes, foreign direct investment, exporting, licensing, joint venture, wholly owned subsidiary, internal development and acquisitions.

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