What are the stages a firm typically goes through as it grows internationally?

A firm typically goes through several stages as it grows internationally, starting with domestic market focus, where it primarily operates in its home country. Next, it may enter foreign markets through exporting or licensing, allowing it to test international waters with lower risk. As it gains experience, the firm might establish joint ventures or partnerships to enhance its local presence. Finally, it may fully integrate into international markets through direct investment and the establishment of subsidiaries, aiming for a more substantial and sustainable global footprint.