Explain basic and generic strategies multinationals use in competing locally and internationally. How can generic strategies strengthen competitive advantage in multinational business?Your response should be at least 200 words in length.Entry-mode strategies indicate success or failure of a multinational corporation. A good entry-mode strategy can increase the opportunity for success and reduce barriers. Explain and provide examples of the different types of foreign country entry-mode strategies.Your response should be at least 200 words in length.Some MNCs operate a single business. However, many MNCs have more than one type of business strategy. What are the basics of multinational diversification? How do they choose their mix of different businesses? Explain both related and unrelated diversification.Your response should be at least 200 words in length.MNCs face a fundamental strategic dilemma when competing internationally. Explain the complexities of the global-local dilemma facing multinational organizations. Compare and contrast local-responsiveness solution and global integration solution. Do not forget to mention multidomestic strategy, transnational strategy, international strategy, and regional strategy in your answer.Your response should be at least 200 words in length.