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International Strategy, Innovation often triggers M&A activity,…

- - - - Co Development agreements, Reduce Risk
      - Local Partner knowledge
      - Entrepreneurship & Innovation
        
        Opportunity recognition
        
        New business models
        
        Digital innovation
        
        Product & process innovation
        
        Mergers, Acquisitions & Alliances
        
        Capabilities acquisition, to buy capabilities, technologies
        
        Technology sourcing
        
        market access acceleration
        
        Consolidation for scale and strengthen competitive position
        
        Competition advantage & Strategic growth
        
        Faster international expansion
        
        Innovation-led differentiation
        
        Economies of scale & scope
        
        Stronger global positioning, faster international expansion
        
        Access to new technologies
      - Joint Ventures, Accelerate Market penetration
      - Distribution Alliances