True, two components of formulating an international strategy are to choose an entry strategy and to attain a competitive advantage over international competitors.
To maintain the business in more than one country, head offices are located in one country or home country. The business is basically done for the export and import of goods and services.
Such a kind of business which is done in more than one country is known as international business, and the strategy that is used by any business is known as an international strategy.
To attain a competitive advantage over international competitors, an international strategy is formulated by businesses as an entry strategy.
Therefore, two components of formulating an international strategy are to choose an entry strategy and to attain a competitive advantage over international competitors.
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