What Is the Activity That Occurs in the Last Stage

What is the activity that occurs in the last stage of international development?

A) The company invests in production facilities in key countries.
B) The company exports, but trade is minor and handled by an export department.
C) The company establishes its own export division with sales offices in other countries.
D) The company operates in a global industry and establishes worldwide human resources, R&D, and financing strategies thereby denationalizing its operations.
E) The company establishes local operating divisions in host countries to better serve individual country markets.