In terms of global business strategy, the governance of firms has been likened to a federal structureâ "strong central management core of decision making, but considerable dispersal of power and financial resources.

Transnational (multinational)

Explanation: A transnational firm is a multinational firm that operates across national boundaries. Global business strategy allows a firm's revenue to run across borders and these firms can then trade in worldwide markets. A global business strategy includes thinking in an integrated way with regards to all business related aspects, evaluating the goods and services that are produced and meeting global standards in not only the world markets but also the local markets. A multinational firm will also make use of a policy of dispersed production with centralised strategic management. All these factors can link multinational firms to federal structure.

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.