Formulate the human resource strategies opt for licensing and franchising strategies to enter foreign markets.

When multinational companies decide to enter foreign markets, they often choose licensing and franchising as strategic entry modes to expand their global presence. International Human Resource Management (IHRM) plays a crucial role in formulating effective HR strategies to support these market entry strategies while addressing the complexities of managing human resources across borders.

Licensing is a strategy where a company (licensor) allows a foreign firm (licensee) to use its intellectual property, technology, brand name, or products in return for royalty payments or fees. Franchising is a more structured form of licensing, where the franchisor provides a comprehensive business model, including brand, operational systems, training, and support to the franchisee, who operates the business in the foreign market under the franchisor’s brand.

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