Which of the following is NOT a way a company can engage in global business?

Engaging in global business involves strategies that allow companies to expand their operations, reach new markets, and connect with consumers and businesses in different countries. Licensing, direct foreign investment, and joint ventures are all widely recognized ways through which a company can operate on an international scale.

Licensing allows a company to permit foreign entities to produce and sell its products, thus gaining access to new markets without the need for substantial investment. Direct foreign investment involves a company investing directly in facilities, operations, or assets in another country, which enables the business to have a significant presence and control over its international operations. Joint ventures entail the collaboration between two or more companies to undertake a specific project or business activity, allowing them to share resources, risks, and benefits in a foreign market.

In contrast, local advertising primarily focuses on marketing products or services within a specific territory or market, rather than engaging in activities that expand a company’s global reach. While advertising is essential for promoting a business, it does not constitute a method of global business engagement in itself. Therefore, acknowledging the different methods of entering and competing in international markets helps clarify why local advertising does not align with the global business strategies outlined in the other options.