What is a characteristic of firms that consider themselves domestic?

Firms that consider themselves domestic primarily focus on conducting business within their home country. This characteristic means they typically operate under the legal and regulatory frameworks of their own nation, catering to local customers, employing a local workforce, and sourcing products or services domestically. By doing so, these firms concentrate on maximizing their efforts within the confines of their national market rather than seeking to expand their operations or customer base internationally.

The emphasis on local operations allows these firms to develop a deep understanding of their market's specific needs, preferences, and cultural considerations. While they may engage in partnerships or pursue local opportunities, their core identity is rooted in serving and operating primarily within their home market.