Starting a business does not necessarily mean that you must produce everything yourself. There are plenty of third-party vendors that can provide you with certain items that will save you time and money. If you start a new product-based business, you will face some important decisions, whether to produce goods in-house or buy from external suppliers. In some ways, the make-or- buy decision is also the starting point for operations to influence global supply chains. Therefore, your task now is to conduct a make-or-buy analysis to identify the factors that influence a firm’s decision on this matter. Provide real-life examples to support your discussion.

Trends in globalization continue to have an impact on businesses in every region of the world.
Evaluate why the company adopts a localization strategy or a global standardization strategy.
Provide real-life examples to support your discussion.