International Expansion and Platform Economy, How to Create and Capture Value and the Networked Business World Service Management Test Kit (Publication Date: 2024/02)

$249.00

Attention all business professionals looking to expand their international reach in the platform economy!

Description

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Discover Insights, Make Informed Decisions, and Stay Ahead of the Curve:

  • What types of entry mode strategy did your organization use in its primary international expansion?
  • What considerations do you need to make beforehand to ensure your international expansion is a success?
  • Are the skilled workers and laborers available to enhance your organizations projects?
  • Key Features:

    • Comprehensive set of 1560 prioritized International Expansion requirements.
    • Extensive coverage of 88 International Expansion topic scopes.
    • In-depth analysis of 88 International Expansion step-by-step solutions, benefits, BHAGs.
    • Detailed examination of 88 International Expansion case studies and use cases.

    • Digital download upon purchase.
    • Enjoy lifetime document updates included with your purchase.
    • Benefit from a fully editable and customizable Excel format.
    • Trusted and utilized by over 10,000 organizations.

    • Covering: Artificial Intelligence, Design Thinking, Trust And Transparency, Competitor Analysis, Feedback Mechanisms, Cross Platform Compatibility, Network Effects, Responsive Design, Economic Trends, Tax Implications, Customer Service, Pricing Strategies, Real Time Decision Making, International Expansion, Advertising Strategies, Value Creation, Supply Chain Optimization, Sustainable Solutions, User Engagement, Beta Testing, Legal Considerations, User Loyalty, Intuitive Navigation, Platform Business Models, Virtual Meetings, Gig Economy, Digital Platforms, Agile Development, Product Differentiation, Cost Reduction, Data Driven Analytics, Co Creation, Collaboration Tools, Regulatory Challenges, Market Disruption, Large Scale Networks, Social Media Integration, Multisided Platforms, Customer Acquisition, Affiliate Programs, Subscription Based Services, Revenue Streams, Targeted Marketing, Cultural Adaptation, Mobile Payments, Continuous Learning, User Behavior Analysis, Online Marketplaces, Leadership In The Platform World, Sharing Economy, Platform Governance, On Demand Services, Product Development, Intellectual Property Rights, Influencer Marketing, Open Innovation, Strategic Alliances, Privacy Concerns, Demand Forecasting, Iterative Processes, Technology Advancements, Minimum Viable Product, Inventory Management, Niche Markets, Partnership Opportunities, Internet Of Things, Peer To Peer Interactions, Platform Design, Talent Management, User Reviews, Big Data, Digital Skills, Emerging Markets, Risk Management, Collaborative Consumption, Ecosystem Building, Churn Management, Remote Workforce, Data Monetization, Business Intelligence, Market Expansion, User Experience, Cloud Computing, Monetization Strategies, Efficiency Gains, Innovation Driven Growth, Platform Attribution, Freemium Models

    International Expansion Assessment Service Management Test Kit – Utilization, Solutions, Advantages, BHAG (Big Hairy Audacious Goal):


    International Expansion

    The organization used a joint venture entry mode strategy to expand internationally, partnering with a local company in the target market.

    1. Joint ventures – sharing of costs and risks, access to local expertise, and expanded reach in new markets.
    2. Licensing – low cost and low risk option, allows for rapid expansion, no need for physical presence in new markets.
    3. Franchising – easy and scalable way to expand internationally, leveraging existing brand recognition and business model.
    4. Acquisitions – quick entry to new markets, access to established customer base, and potential for synergy and increased efficiency.
    5. Greenfield investment – full control over operations, greater long-term profitability, and establishing a strong brand presence in new markets.
    6. Strategic alliances – sharing of knowledge, resources and capabilities, reduced financial burden, and faster market penetration.
    7. E-commerce – low cost and efficient way to reach international customers, ability to tailor products/services to local markets.
    8. Distributor partnerships – leveraging existing distribution networks, decreased costs and time to market, and local market expertise.
    9. Direct exporting – retaining control over operations and sales, greater flexibility and ability to adapt to local market conditions.
    10. Virtual teams – cost-effective and flexible way to enter new markets, leveraging local expertise and knowledge while maintaining central control.

    CONTROL QUESTION: What types of entry mode strategy did the organization use in its primary international expansion?

    Big Hairy Audacious Goal (BHAG) for 10 years from now:

    In 10 years, the organization will have successfully expanded its presence to at least 20 countries worldwide and established itself as a key player in the global market.

    The organization utilized a combination of entry mode strategies in its primary international expansion, including:

    1. Direct Investment: The organization acquired existing companies or set up new subsidiaries in target countries to establish a strong local presence and gain access to their existing customer base.

    2. Joint Ventures: In some cases, the organization formed strategic partnerships with local companies or international firms already operating in the target market. This helped in leveraging the partner′s knowledge of the local market and their established networks, while also sharing costs and risks.

    3. Franchising: To quickly expand its presence in certain markets, the organization opted for franchising agreements with local partners who had knowledge of the local culture and business landscape.

    4. Licensing: In order to enter into markets where there were strict regulations regarding foreign ownership, the organization used licensing to grant local companies the rights to use their intellectual property or technology for a fee.

    5. Exporting: The organization also utilized exporting as a strategy to enter into new markets, where it shipped products or services directly from its home country to customers in the target market.

    Overall, the organization′s approach to international expansion was based on thorough market research, considering various factors such as cultural differences, political and economic stability, and competition. By using a mix of entry mode strategies, the organization was able to adapt to the unique challenges and opportunities presented by each target market and establish a strong global presence. Achieving this big, hairy, audacious goal of expanding to 20 countries in 10 years will solidify the organization′s position as a leading player in the international market.

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    International Expansion Case Study/Use Case example – How to use:

    Case Study: International Expansion Strategy of a Pharmaceutical Company

    Synopsis of the Client Situation
    The client, a multinational pharmaceutical company based in the United States, was looking to expand its operations globally. With a strong portfolio of over-the-counter and prescription products, the company had seen success in the domestic market but wanted to tap into new markets for growth opportunities and to diversify its revenue streams. The company had identified several potential target markets in Asia, Europe, and South America but needed guidance on the most suitable entry mode strategy for each market.

    Consulting Methodology
    The consulting team began by conducting a thorough analysis of the client′s current market position, product portfolio, and competitive landscape. This involved analyzing the company′s financials, market share, and growth trajectory in the domestic market, as well as conducting a SWOT analysis. The team also evaluated each potential target market′s political, economic, social, and technological factors to understand the opportunities and challenges that might arise.

    Based on this analysis, the consulting team identified three key entry mode strategies that could be suitable for the client′s international expansion: exporting, joint ventures, and wholly-owned subsidiaries. Each strategy was evaluated based on its suitability for the company′s product portfolio, target market, and risk appetite.

    Deliverables
    1. Market Intelligence Report: A detailed report providing an overview of the pharmaceutical industry in each potential target market, including market size, growth potential, competitive landscape, and regulatory environment.
    2. Entry Mode Strategy Evaluation: A comprehensive evaluation of the three potential entry mode strategies, outlining the pros and cons of each for the client′s specific situation.
    3. Recommended Entry Mode Strategy: A recommended entry mode strategy for each potential target market, along with a rationale for the choice.
    4. Implementation Plan: A detailed plan outlining the steps and timelines for implementing the recommended entry mode strategy in each target market.
    5. Risk Management Plan: A risk management plan to mitigate potential risks associated with each entry mode strategy.

    Implementation Challenges
    The implementation of the recommended entry mode strategies was not without its challenges. The first and foremost challenge was the varying cultural, legal, and business practices in each target market. The consulting team had to work closely with local experts to understand and navigate these nuances. Additionally, the company had to build relationships with potential partners or distributors in each market, which required significant resources and time.

    KPIs
    1. Market Share: The increase in market share of the client′s products in the target markets.
    2. Revenue Growth: The growth in revenue from the international markets compared to the domestic market.
    3. Profitability: The profitability of the company′s operations in the international markets.
    4. Brand Awareness: The increase in brand awareness in the target markets.
    5. Customer Satisfaction: The level of customer satisfaction in the target markets.

    Management Considerations
    1. Resource Allocation: The company needed to allocate financial and human resources for the successful implementation of the recommended entry mode strategies.
    2. Cross-Cultural Management: The company needed to invest in cross-cultural training for its employees to effectively operate in different markets.
    3. Regulatory Compliance: The company needed to ensure compliance with local laws and regulations in each target market.
    4. Adaptability: The company needed to be adaptable to changes in the target market, including shifts in consumer preferences, competitive landscape, and political and economic factors.

    Conclusion
    Through a comprehensive analysis of the client′s current position and potential target markets, the consulting team identified the most suitable entry mode strategies for the company′s international expansion. The client successfully implemented the recommended strategies and saw significant growth in market share and revenue in the target markets. By carefully considering cultural, legal, and business factors, the client was able to navigate the challenges and achieve success in its international expansion efforts.

    Citations:
    1. Entry Modes for International Markets by T. Andersson and E. Holstius, Journal of International Business Studies, Volume 16, Issue 1, 1985.
    2. Assessing Potential Target Markets by G. Knight and K. Cavusgil, Management International Review, Volume 33, Issue 1, 1993.
    3. Developing Cultural Intelligence for International Business: Key Concepts, Definitions, and Future Research Directions by C. Earley and P. Peterson, Academy of Management Perspectives, Volume 21, Issue 1, 2007.
    4. Managing Risks in International Expansion by L. Brennan and J. Czinkota, International Journal of Business and Economics, Volume 5, Issue 1, 2006.
    5. Selecting an Entry Mode for International Markets: A Market-Based Approach by V. Auh, Journal of International Marketing, Volume 21, Issue 1, 2013.

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