【商道论衡】 中国企业国际化的三种路径

Group 1: Stages of Internationalization - The international development of enterprises can be divided into three stages: export, internationalization, and globalization [1] - The second stage, international operation, involves establishing physical organizations overseas to directly engage with end-users and gather market feedback [1] Group 2: Paths to Internationalization - The first path involves local production and sales overseas, suitable for technology manufacturing companies, exemplified by Haier and TCL [2][3] - The second path is represented by Huawei's direct sales model, where the company directly engages with customers in overseas markets [3][4] - The third path is through cross-border mergers and acquisitions, allowing companies to quickly enter international markets, with Lenovo and Geely as notable examples [5][6] Group 3: Cross-Border Investments - Another method of internationalization is through cross-border equity investments, with Tencent being a prominent case, having invested in over 140 targets across 22 countries [7] - Despite significant overseas assets, Tencent's overseas revenue remains low compared to its investments [7] Group 4: Current Challenges - In the context of rising trade barriers and geopolitical risks, companies need to adapt their decision-making logic for internationalization [8]