Decision-making involves choosing from among alternatives. A number of factors help influence whether decision making will be centralized or decentralized, including company size, amount of capital investment, relative importance of the overseas unit to the MNC, volume-to-unit-cost relationship, level of product diversification, distance between the home office and the subsidiary, and the competence of managers in the host country.

Critically describe the management decision-making process encompassing various strategies for the firm to survive and thrive in a foreign nation based on the decision-making elements provided. 

Justify your responses using pertinent facts and a review of the literature.