This paper looks at the matter of entering a new market for an international business.
Written in 2007; 863 words; 5 sources; APA; $ 30.95
Paper Summary:
In this article, the writer discusses modes of entry available to a multi-national enterprise considering a new market. Various strategies are discussed including trade-offs in terms of business interests and competencies when settling on a strategy. Additionally, attention is paid to the importance of cultural factors that need to be addressed. The writer also discusses how attitude is part of the global business toolkit. The writer concludes that for an enterprise entering a new and foreign market it is paramount for the project's long-term success and viability for the organization to become acclimated to the local culture.
Outline:
Conference Activity: Business Entry Modes
Business Strategy & Modes of Entry
Trade-offs & Considerations
Attitude as a Business Tool
From the Paper:
"For many enterprises the move into international markets has become not one so much of choice as of necessity. In order to remain competitive and preserve revenue streams in the face of stiff international competition in home markets, enterprises have turned to entering foreign markets in order to remain solvent. In so doing, the enterprise becomes exposed to a whole slew of cultural and communication issues that global multi-national enterprises (MNEs) have been developing competencies to address for many years. These competencies are centered around first developing a market entry strategy based on a mode of entry and then inter-cultural communication, the organization's impact on the local economy of the new market, and the organization's position within the local community."
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