If we consider the Paychex Flexible and ADP Compliance with Pay Convenience packages, the cost difference is even greater. Paychex Flexible is 543% more than QuickBooks Online Payroll, and ADPâs package is 477% more expensive. The Paychex cost ignores the cost of getting printed checks, which needs to be added to produce a fair comparison to ADP.
2) Adaptation: Another way of managing political risk is adaptation. Adaptation means incorporating risk into business strategies. MNCs incorporate risk by means of the following three strategies: local equity and debt, development assistance, and insurance. i) Local Equity and Debt:
Porter wrote in 1980 that strategy targets either cost leadership, differentiation, or focus. These are known as Porter's three generic strategies and can be applied to any size or form of business. Porter claimed that a company must only choose one of the three or risk that the business would waste precious resources. Porter's generic strategies detail the interaction between cost minimization strategies, product differentiation strategies, and market focus strategies of porters.