Depends on the business and what they are trying to achieve.
I started a global company in '01. In order of priority this is how we went about the domain names (not suggesting this is the only way or the best way - it really depends on the purpose. But we did build a globally noticeable brand in our niche industry).
1. Searched, found and registered a dot com (before registering the company in several countries). It had to be descriptive of the services being offered. We based the name of the company totally around what dot com was available and affordable.
2. Second priority was to make sure it was available in each of our major markets (North America, UK/Europe, Asia).
3. Registered the country extensions in each of those markets including variations (main ones co.uk, com.au, eu)
4. Redirected all the domains to the dot com (there are better ways to do this, but at the time it was quick, cheap and effective for us).
5. Pumped all our marketing and ad dollars into brand recognition of the dot com.
Good luck. I'm sure there are 1000's of variations and opinions. This is simply how we did it, and it worked.
In my humble opinion and observation, the country extension for those markets you are operating are an essential ingredient if you want to have a globally powerful brand solution (at a corporate entity level). It is not mandatory, but the leverage and recognition is undeniable if you have all the ticks in the box (i.e. one measure of brand penetration is when people type your company into the url do they arrive at your business - regardless of extension. Of course there are limits, and I'm only talking about the major markets that you operate, not every spec of dust occupying the planet).