Foreign market entry and culture

Foreign market entry and culture PDF

Author: Thomas Wagner

Publisher: GRIN Verlag

Published: 2009-07-27

Total Pages: 21

ISBN-13: 3640383869

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Seminar paper from the year 2008 in the subject Business economics - Miscellaneous, grade: 1,3, University of Aarhus, course: Culture and International Business, language: English, abstract: Going abroad is nowadays much more easy due to the continuous globalization process with lower transportation costs and immediate information exchange. Especially during the last decades firms have increasingly committed themselves to global markets in order to exploit cost advantages through lower labour costs or in order to follow the demand for their products (Barkema et al. 1996:164). A firm seeking to perform in a foreign market by establishing a business function (e.g. production management, distribution) has to choose the best mode of entry which is very relevant for the success of foreign operations and therefor an important issue. But foreign market entry does not come along without any costs especialy in cultural distant countries. The impact of differences in national culture, measured as cultural distance between the home country of Multinational Enterprises (MNEs) and the country of operation is a very important issue and therefor worth to examine. The main questions the paper tries to answer is: In which ways does culture matter in the internationalization process of a firm? How does culture affect the choice of market entry and which problems arise due to cultural differneces? Which impediments regarding culture have firms to deal with when going to China?

Foreign Market Entry and Culture

Foreign Market Entry and Culture PDF

Author: Thomas Wagner

Publisher: GRIN Verlag

Published: 2009

Total Pages: 25

ISBN-13: 3640384164

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Seminar paper from the year 2008 in the subject Business economics - Miscellaneous, grade: 1,3, University of Aarhus, course: Culture and International Business, language: English, abstract: Going abroad is nowadays much more easy due to the continuous globalization process with lower transportation costs and immediate information exchange. Especially during the last decades firms have increasingly committed themselves to global markets in order to exploit cost advantages through lower labour costs or in order to follow the demand for their products (Barkema et al. 1996:164). A firm seeking to perform in a foreign market by establishing a business function (e.g. production management, distribution) has to choose the best mode of entry which is very relevant for the success of foreign operations and therefor an important issue. But foreign market entry does not come along without any costs especialy in cultural distant countries. The impact of differences in national culture, measured as cultural distance between the home country of Multinational Enterprises (MNEs) and the country of operation is a very important issue and therefor worth to examine. The main questions the paper tries to answer is: In which ways does culture matter in the internationalization process of a firm? How does culture affect the choice of market entry and which problems arise due to cultural differneces? Which impediments regarding culture have firms to deal with when going to China?

Entry Strategies for International Markets

Entry Strategies for International Markets PDF

Author: Franklin R. Root

Publisher: John Wiley & Sons

Published: 1998-10-23

Total Pages: 292

ISBN-13: 0787945714

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Sage Advice on Going Global Root's perspective is extremely insightful, and clearly the work of one who knows his topics from personal experience. It encapsulates what some of us have taken decades to learn through trial and error. --Larry D. Bouts, president, International Division, Toys-R-Us, Inc. The North American Free Trade Agreement, the new European common market, and the opening of Eastern Europe--among other recent geopolitical developments--have created unprecedented opportunities for American companies seeking to enter foreign markets. This guide offers executives practical advice, recently updated and expanded, on deciding which markets to enter, choosing a product for international distribution, designing an entry strategy, and developing an effective international marketing plan.

Foreign Entry Decision And Global Export Business. Foreing Market Decisions

Foreign Entry Decision And Global Export Business. Foreing Market Decisions PDF

Author: Newman Enyioko

Publisher: GRIN Verlag

Published: 2021-01-21

Total Pages: 27

ISBN-13: 3346333124

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Seminar paper from the year 2020 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, grade: 4.5, , course: Management Sciences // Marketing, language: English, abstract: This paper examined issues surrounding foreign entry decisions. Essentially, the paper determined why and how a company makes a decision to enter a foreign market. The study was descriptive and data were sourced from various books, trade journals, publications and internet sites etc. The study revealed that foreign market entry strategy is an important strategic decision for international business units. The choice of foreign market entry strategy is to be made very cautiously as it has long-term implications, and it cannot be easily reversed. The study found that the future growth of international business unit depends upon the right mode of entry into foreign market. As revealed in the study there are three main modes of entry into foreign market namely: Trade mode, investment mode and contractual entry mode. In trade route, the entry in foreign market is made through exports. In investment mode, the subsidiary units are set up in the foreign market. This mode is also called foreign direct investment mode. In contractual entry mode, technological collaboration agreements are made with the business units of host nation. In this mode, technical skills/managerial skills are provided by business unit in parent country to business units in host country. Besides these three main strategies for entry into foreign markets. The choice of the appropriate strategy depends upon various factors like availability of resources, level of risk, tariff and non-tariff barriers imposed by other nations, transportation cost, infrastructure facilities, vision of management, restrictions on inflow/outflow of foreign investment. A key conclusion in the study is that there are different motives for an entry on a foreign market. The different motives that are stated in the study have common denominator which is that they can all lead to increased profit in the long run. The study suggests that in order to make an effective foreign market entry decision, firms and international business practitioners should apply the foreign-market-entry-model. They should also highlight those factors that have been found to be of most importance while entering a foreign market.

Global Market Entry

Global Market Entry PDF

Author: Christopher Nagel

Publisher: Xlibris Corporation

Published: 2012-08

Total Pages: 87

ISBN-13: 147715874X

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This book is intended to assist managers newly assigned to meaningful international responsibilities those with established positions, but looking for a primer on market-entry strategies, trade documentation, and the protection of a firm's international cash position. This short pragmatic text guides managers through the fundamental decisions necessary to access and serve new markets. The text also serves as a reference for the more granular' issues of trade finance. In the context of increasing levels of globalization and cross-border competition, the focus is on how managers can best position their firms for long-term sustainable profitability.

Cultural Aspects of International Business

Cultural Aspects of International Business PDF

Author: Przemysław Skulski

Publisher: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Published: 2020-11-11

Total Pages: 207

ISBN-13: 8376958070

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The main objective of this textbook is to show cultural aspects and their influence of conducting business internationally. The authors aimed at providing information which can be useful in the process of making business decisions by taking into consideration the existing cultural diversification. This is why the theoretical discourse is accompanied by numerous examples, bringing to the book also a practical dimension. The book is addressed to a wide circle of readers – those interested in the phenomena occurring in the world economy and the dimensions of contemporary culture, as well as students of international business relations. It may also interest entrepreneurs, both those already present in international markets, and those who are at the planning stage of such future activities.

Optimization of market entry strategies focused on market entry barriers in China

Optimization of market entry strategies focused on market entry barriers in China PDF

Author: Elisabeth Bilewicz

Publisher: GRIN Verlag

Published: 2013-08-06

Total Pages: 95

ISBN-13: 3656475539

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Bachelor Thesis from the year 2006 in the subject Business economics - General, grade: 1,7, University of Applied Sciences Essen, language: English, abstract: Which possibilities does a company have to go abroad? What kinds of barriers have to be taken into consideration when entering foreign markets? These are major questions that affect enterprises when they plan the expansion of their business into a foreign environment. This present bachelor thesis is concerned with market entry barriers that have an impact on the chosen market entry strategy of a company. It wants to help sensitizing for potential problems that can occur when entering a foreign market and show which barriers have to be heeded even if the chosen market offers respectable growth as the chosen Chinese economy does. From this examination of potential market barriers it is the objective of this thesis to help identify improvements for market entry strategies and thereby increase the likelihood of a successful venture.

Global Market Strategies

Global Market Strategies PDF

Author: Michael Neubert

Publisher: Campus Verlag

Published: 2013-11

Total Pages: 199

ISBN-13: 3593399458

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Good international trade relations are a must for any modern enterprise, regardless of its size. But without a sound global market strategy, entry onto the international scene is risky and can at worst lead to a company's demise. In this book, Michael Neubert, a renowned expert in global business strategy, outlines the principles that underlie a successful international venture: development of a custom-fit internationalization strategy; selection of foreign markets and structured market entry processes; design of market growth strategies; intercultural management and international corporate management; and the carrying out of market exits. Supplemented with case studies, the tools and solutions in Global Market Strategies provide international managers with the requisite know-how for success in all markets and industries.

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