The document discusses internal and external growth strategies for firms. Internal growth strategies include market penetration, product development, market development, and diversification. These strategies focus on organic growth through existing customers and markets or new products and services. External growth involves international expansion and can include global, localization, transnational, or export strategies depending on the need for local adaptation versus cost reduction. Overall, the document provides an overview of different growth approaches firms can take and factors to consider such as resources, risks, and customizing to local needs versus standardization.