D_Gorecka.pdf - International MCDA Workshop on PROMETHEE Research and Case Studies Brussels 2014 The Selection of the Entry Mode in International

D_Gorecka.pdf - International MCDA Workshop on PROMETHEE...

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Dorota Górecka Małgorzata Szałucka Nicolaus Copernicus University in Torun The Faculty of Economic Sciences and Management International MCDA Workshop on PROMETHEE: Research and Case Studies Brussels 2014 The Selection of the Entry Mode in International Expansion Using MCDA Methods Belonging to the PROMETHEE Family
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Introduction Motives of international expansion Stages of international expansion strategy Entry mode selection Case study Conclusions Agenda
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International Expansion Strategy stages Decision about international expansion of the company Analysis of international environment and potential of the company Selection of product/market Choosing the entry mode Preparation of market penetration marketing plan Operations’ monitoring/strategy’s revision Entry into foreign market
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Why do companies go abroad?
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Gain access to new customers, Spread business risk across wider market base, Obtain access to valuable natural resources, Need to achieve lower costs, Explore possessed resource and competencies better. Why do companies go abroad?
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International Market Entry Strategy stages Decision about international expansion of the company Analysis of international environment and potential of the company Choosing the target product/market Choosing the entry mode Designing the marketing plan Operations’ monitoring/strategy’s revision Entry operation
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How can companies enter into foreign markets?
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Choosing the Entry Mode Export Indirect Direct Agent/distributor Branch/subsidiary Contractual modes Licensing Franchising Management contracts Turnkey contracts Contract manufacture Investment modes Solo venture (WOS) Joint veture
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Alternative entry modes depending on resource commitment, level of control and risk Indirect export Contract manufacture Agent/Distributor Export Turnkey contracts Licensing Branch Export/Subsidiary Franchising Joint Venture Wholly-owned subsidiary low high high low control, risk resource
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