Chapter 14 Student P10 MGT 302

Chapter 14 Student P10 MGT 302 - Chapter14 EntryStrategyand

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Chapter 14 Entry Strategy and  Strategic Alliances
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Main Concepts Difference between tacit versus codified  knowledge The strategic criteria influencing international  expansion and entry mode choice Advantages and disadvantages of the entry  modes
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Tacit Knowledge Tacit knowledge is information that is  intuitive and difficult to articulate or  codify in writing. can be gained through personal  experience or interaction shared knowledge might be dispersed  throughout the company
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Codified Knowledge Codified knowledge is information that can  be easily captured in the form of text,  tables, or diagrams. product specifications, scientific formulas and  computer programs are examples of codified  knowledge
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Basic Entry Decisions Which Foreign Markets Timing the Entry Scale of Entry
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Entry Modes Exporting Direct versus Indirect Turnkey Projects Licensing Franchising Strategic Alliances Joint Ventures Wholly Owned Subsidiaries Greenfield Investment, Acquisitions and Mergers
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Strategic Criteria Impacting Entry Mode Firm resources and capabilities intellectual properties; international  experience; financial resources Conditions in the target market legal, cultural, and economic conditions;  infrastructure; exchange rate stability;  government restrictions
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Strategic Criteria Impacting Entry Mode Characteristics of the product value-to-weight ratio; fragility; perishability;  universal needs Competitive environment first mover advantages; market potential and  growth
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Exporting Exporting: the sale of products produced  in one country to residents of another  country Direct Exporting: company conducts all  phases of the sale and transfer of the  merchandise to a buyer Indirect Exporting: firm hires the expertise of  someone else to facilitate the exchange for a  fee
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Exporting Advantages Avoids the costs of establishing  manufacturing operations in the host  country Minimizes risk and investment  Rapid speed of entry May realize experience curve and  location economies
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Exporting Disadvantages
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Chapter 14 Student P10 MGT 302 - Chapter14 EntryStrategyand

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