Development of global strategy really has three stages to it. The first is a development of what's called a core business strategy. And a core business strategy really is the basis of the sustainable competitive advantage. Okay. There is a lot of things to talk about when you start talking about business strategies, and competitive advantages. But after you develop that, and after you focus in on that - on that core business strategy, the next two steps are really simple sounding. First, you internationalize the strategy, which means that you take that strategy and you adapt it to reflect the needs of the target country that you have an interest in. The place that you have selected as the first country to enter into. And then after you have internationalized, and gotten your hands around that - those new dynamics in your country - you company, excuse me - then you globalize that strategy. Or you take the strategy, and you begin to move that across countries. Everytime entering a new country, you adapt - not the strategy, but the product offering to reflect the supply/demand issues that are pertinent for the new country that you are entering. Now, not said on the slides, but an important point here. Nowhere will you hear me say, I want to be an internationalist, so I think I will go to Turkey and wander around a while and see what I can find to do. You've got to be highly focused. You've got to have a tight, tight, clear strategy that allows you to enter into the markets so that you are efficient and effective, and so that you can set up good distribution networks within those countries as you enter into them. Critical point. This is just a graphic - stage one again, develop a core business strategy. Stage two, internationalize that. And stage three; you can see you can expand that into other countries of interest. So if core business strategy is so important, let's talk about that just for a second. When you talk about business strategy, you're really talking about two topics here. First is the development of a corporate strategy. And the second is the development of a business strategy. And business strategy we talked about just a minute ago. But corporate strategy we haven't talked about yet. We define corporate strategy in the following way. Corporate strategy is the way a company created value through the configuration and coordination of it's activities. Okay. Three key points that are highlighted in red there. First is value creation. And this is important whether you are going to be a - just a domestic company, or you are going to be an internationalist. Okay. Your company has to create value. Second, configuration. And configuration really are the products you elect to sell and distribute. Services you provide. The geographic areas that you elect to work in. U.S., North America, international, global. And then the vertical boundaries. What level of integration do you want to be as an organization? Do you want to be a broker? Or do you want to be upstream, downstream relative to the marketplace? And then coordination is just a term for how the company manages all your activities and business. Three key components.