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Selecting a Strategy for Aker Solutions to Enter the French Market

   

Added on  2019-09-26

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Aker Solutions(Norway)STRATEGIES TO ENTER IN FOREIGN MARKETStrategies to enter in foreign market
Selecting a Strategy for Aker Solutions to Enter the French Market_1

Aker Solutions- Strategies to enter in FranceTable of ContentsIntroduction...................................................................................................................2Reason for choosingFrance..........................................................................................3Strategies for Entering Foreign Market........................................................................3Equity mode..............................................................................................................3Non-equity mode......................................................................................................3Market strategy of Aker to enter France.......................................................................4Institutional view of international strategy...................................................................4Formal institutions....................................................................................................4Informal institutions..................................................................................................5Conclusion....................................................................................................................5References.....................................................................................................................51
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Aker Solutions- Strategies to enter in FranceIntroductionThis assignment is focused on the entry and expansion of Aker Solutions in France. AkerSolutions is a company providing oil and construction services based in Oslo, Norway. Itserves the oil and gas industry by providing them with the oilfield systems, products, andservices. The company, until 2008, was known as Aker Kværner and was founded in 1841.(Are, 2016) The slogan of the company is ‘taking the next step in the global oil and gassuccess story'. The company is considered as the global leader in designing and supplyingmooring system and deck machinery for offshore and marine applications. The products ofAker Solutions range from underwater installation of a system nearly the size of a footballfield, to equipment that can be worked with under deepest water levels and in the harshestenvironment conditions. In 2014, Aker focused its business on two important sectors fieldand subsea design. At present, it provides employment to about 13,000 people in around 20countries including Europe, Asia-Pacific, America and Africa. The company was started byAker in Oslo, Norway, in 1841 as a small mechanical workshop named Akers MekaniskeVerksted. The growth of the company was fast and thus it went through an engineering andshipbuilding company. The world's first system of subsea gas compression delivered byAker which was about 200km off the coast. The system with the size of a football fieldrevolutionized the production of natural gas by cost cutting and improved safety at thebottom of the ocean. The company entered a new era by taking over major construction, engineering, andshipbuilding rivals in 2002. Merging two companies gave rise to a technically andfinancially strong business with diverse interests. The process and construction businesswere divested in 2011. In the same year, it also split the procurement, construction, andengineering activities. In 2013, the business of loading and mooring systems and well-intervention services was sold by Aker. Now, it is one among the leading providers ofoilfield systems, products and services in the world for upstream oil and gas industry. It isfocused towards rapid growth of subsea oil-services and deep-water markets. It serves theconstruction and engineering segment of the market and is targeted towards corporates andenterprises. The company is positioned as a company that brings technology and engineeringtogether to the drilling of oil and gas, field development and production. 2
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