Foreign Market Entry Plan - Essay Example

Comments (1) Cite this document
Summary
Foreign Market Entry Plan.
The market environment in Hong Kong can be analyzed using PESTEL analysis to describe the various macro-economical factors influencing and impacting upon the business environment. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.3% of users find it useful
Foreign Market Entry Plan
Read TextPreview

Extract of sample
"Foreign Market Entry Plan"

Download file to see previous pages Conducting PESTEL analysis is one of the essential steps in scanning the business environment of firms and attaining a complete overview of the various macro-economic factors that the company must take into consideration. PESTEL analysis describes the political, economic, socio-cultural, technological, environmental and legal factors prevailing in the industry or the firm’s business environment. The tool is particularly essential for businesses for making a thorough understanding and analysis of the growth or decline of markets, business positions, potential and direction of operations.
PESTEL Analysis.
Political
Political conditions in Hong Kong seem favorable for conducting overseas businesses. Implementation of the Principal Officials Accountability System in 2002 was meant to bring about promptness and more responsiveness in the Government’s actions towards people’s concerns. This is especially favorable for conducting businesses because of the fact that any rising demand in the economy would be catered to with immediate action and support from the government.The country demonstrates an open and free economy where people’s rights are respected, courts can function independently and the rule of the law is highly respected in society (US Department of State, 2011). Economic Hong Kong represents one of the most open and dynamic economies. Recovering from the impacts of the global economic turmoil, the country attained high economic growth rates of 6.8%. Inflations rates have also gradually increased from 0.5% to 2.4% since the financial crisis. This was possible due to the government’s aggressive initiatives and measures to control the risk of the housing market bubble due to low interest rates and high liquidity in the international financial system (US Department of State, 2011). From the perspectives of conducting business operations also the economy looks favorable with a sound banking system and very little public debt. The economy has adequate foreign exchange reserves coupled with a strong legal system. A rigorously implemented anti-corruption regime along with the above factors has also enabled the economy to adapt itself to the changing circumstances (US Department of State, 2011). The government has made a conscious initiative to promote measures for improving attractiveness of the economy as a trading and commercial centre and has been constantly reviewing and refining the financial architecture of the economy. Hong Kong seeks to reduce trade barriers considerably. In fact it has recently included a free trade agreement with China in order to enhance potential benefits from trade between the two countries. Its export of goods and services was highly on the rise since 2012 by about 17.3% which was attainable quickly because of the strong fiscal and monetary stimulus provided by the Chinese economy helping to recover from the impacts of the recession (US Department of State, 2011). Socio-Cultural The population of the country is steadily on the rise and has reached 7.097 million in 2012. It accounts for one of the most densely populated economies in the world. English accounts for the official language of the country and is spoken widely by a large group of the population. It is mandatory by ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Foreign Market Entry Plan Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
Retrieved from https://studentshare.org/marketing/1394869-foreign-market-entry-plan
(Foreign Market Entry Plan Essay Example | Topics and Well Written Essays - 2750 Words)
https://studentshare.org/marketing/1394869-foreign-market-entry-plan.
“Foreign Market Entry Plan Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.org/marketing/1394869-foreign-market-entry-plan.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
la
laverne83 added comment 4 months ago
Student rated this paper as
Wonderful paper! Used it to complete an assignment for a marketing course. It was easy as ABC, for the first time in my life.
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Foreign Market Entry and Diversification
...will require a couple of years and extensive property market research across the world. The first foreign market for entry with the new model as deliberated is India, due to the vibrant economic and tourism growth coupled with relatively affordable property transactions. India as an emerging economy in the world today provides excellent attention to investors that provided a lucrative opportunity for business travel for the vast business territory. The centrality of India for Asian markets extending to the Pacific region will facilitate future diversification of the transport component into the sea and luxury travel component involving yacht and cruise...
4 Pages(1000 words)Essay
Entry into foreign market
...? Entry into foreign market Contents Introduction 3 Risk factors and whether Supports Entry 3 VRIO Analysis 4 Existing Cultural Issues 5 FDI or Subcontract 6 Recommendation 7 Greatest Difficulties 7 Reference 9 Introduction Cameron International Corporation provides flow equipment along with equipment in pressure control for both sea oil and land rigs. The company ventured towards FDI dealings with Brazilian companies which tends to manufactures items for the “Brazilian oil and gas” industry and thus support expansion strategy in the respective market. The company recently plans to expand into Myanmar, formerly Burma. The reason behind...
6 Pages(1500 words)Assignment
Foreign Market Entry and Diversification
...? Foreign Market Entry and Diversification Foreign Market Entry and Diversification An Argument for Diversification of Kinko's Printing Company It is important for Kinko’s Printing Company to diversify its operations based on a number of grounds. The company will be in a position to enhance or improve the rivalry of the entire industry. In case the company is successful, its value will improve in the long run. It is important for the company to create value through unrelated or related products given the revenues might be increased and the costs of operation minimized in line with the business level strategies. It is also vital to note...
5 Pages(1250 words)Essay
Foreign Market Entry and Diversification
...? Foreign Market Entry and Diversification Introduction Diversification tends to involve substantial change in the definition of business with reference to customer function, group or other technologies of businesses. Ansoff’s matrix talks about diversification strategy and is one of the popular classifications given by Ansoff’s. Diversification can be of two type’s related diversification or unrelated diversification. Diversification strategies are undertaken in order to minimize the risk, capitalize on the capabilities and might be the only option for the firm to expand its business in times of need (Kazmi, 2008, 160). Argument for diversification of your business Diversification is a...
4 Pages(1000 words)Research Paper
Entry into Foreign Market
...? Running Head: ENTRY INTO A FOREIGN MARKET Commercial organizations undertaking business activities within contemporary economic environments have a tendency to undergo expansion at one point or another. Expansion takes place in two aspects. A company can undergo expansion in terms of production, or in terms of marketing activities. The two aspects derive from the dictates of supply and demand within a given commercial environment. According to Tielmann (2010), the aspect of globalization has enabled business organization to expand their operations beyond their parent territorial borders. This desire for expansion outside initial business setups seeks to enhance production and supply of goods to more potential consumers. Increase... into...
6 Pages(1500 words)Essay
Entry into Foreign Market
...? Entry into Foreign Market of the al Factors al factors in a country includes commitment, capa and corporate governance practice and they have a strong influence on the level and effectiveness on business activities (World Bank 2011).These institutional factors need to be considered while entering into foreign market for investment purposes. In this context it is observed that Cameron International plans to penetrate further into the markets of Myanmar. The company already has a minor presence in the markets of Myanmar and plans to expand further through effective...
6 Pages(1500 words)Essay
Entry into Foreign Market
...by other economies since early 1990s (Duncan, 2009). Despite Cameron International Corporation’s involvement in other developed nations, the company’s production and innovative approaches towards development of oil extraction equipment may hinder the desired success if it fails to establish the actual needs of the oil drilling industry in Myanmar. The risk involved in the company’s strategic entry in foreign markets is the lack of research and development programs to establish the unseen barriers, and the dependence on its large capital base for diversification of investments (Griese, 2004). Certainly, the risks of production that prompted to the explosion of BP oil rig revealed...
6 Pages(1500 words)Essay
Foreign Market Entry and Diversification
...? Foreign Market Entry & Diversification of the of the Foreign Market Entry & Diversification Introduction Diversification is known as the process by which a company spends to offer new products and enter new markets, by way of corporate acquisitions or investing directly in new business. There are two types of diversification depending on whether there is any relationship between new and old business of the company .The reason that companies are diversified is the search for synergies or a reduction in the overall business risk. Diversification is one of four marketing strategies defined in the Ansoff matrix. The paper discusses the need for diversification strategies of the companies that adopt means and methods to excel... stages of...
5 Pages(1250 words)Essay
Foreign market entry
...Article Review: Firm Productivity and the Foreign Market Entry Decision 21st century is an era during which many things are at its most advanced level. Many things are happening now which the old persons even cannot imagine to be done in their time period. The world has now turned into a global village. The countries are now widening their mutual relationships. These relationships are not just confined to only neighboring countries rather the scope has been increased now. This globalization is not just limited to the countries or economies rather the companies and even individual persons are also affected by this globalization. In case of companies, there can a variety of strategies to...
3 Pages(750 words)Essay
Foreign Market Entry Strategy
...analysis of five peer-reviewed research articles that examine different theories and practices of foreign market entry strategy. Different opinions, approaches and methodologies discussed below allow readers to gain a more comprehensive understanding of foreign market entry theory. This paper will focus on several key issues related to the theme of foreign market entry strategy, including the following: the role of strategic capabilities and strategic orientation in the process of selection foreign market entry mode; timing choice of...
7 Pages(1750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Foreign Market Entry Plan for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us