Identify the order in which the following phases typically occur during globalization.
Phase 1. Exporting - Companies sell their goods and services in a foreign market.
Phase 2. Cooperative contracts - Companies establish a presence in a foreign market through licensing and franchising.
Phase 3. Strategic alliances - Companies work with other companies in a foreign market to set up joint ventures.
Phase 4. Wholly owned affiliates - Companies purchase a foreign company and run it as a wholly owned subsidiary.