International market entry strategy and modes of entry

Appendix 1. Research Proposal Form
Student Name ......................................................................................... Student
number ..........................................
Centre Name......................................................................................... ...........
Tutor ......................................................................................... Date
...........................................
Unit.........................................................................................
Proposed title
..................................................................................................................................................................................

Section One: Title, objective, responsibilities
Title: To identify and analyse the expansion strategies available with Booths store to enter United States
with special reference to FDI.
Aim: To identify and analyse the expansion strategies available with Booths store to enter United States
with special reference to FDI.
Research Objectives:
 Identification of the various modes of entry that are available in the international markets.
 Advantages of Globalization for Booths grocery and wine store through FDI
 Challenges faced by Booths in expansion
 Recommendation for appropriate strategies that must be selected by the business.
Research Questions:
 What are the various modes of entry available with local businesses to enter into international
market ?
 What are the advantages of globalization to Booths grocery & wine store in the context of FDI ?
 What are the possible challenges to be faced by Booths store during its expansion into the USA ?
 A recommendation of appropriate strategies that Booths must use in order to establish their
business successfully in USA ?
Section Two: Reasons for choosing this research project
Reasons for choosing the project (e.g. links to other subjects you are studying, personal interest,
future plans, knowledge/skills you want to improve, why the topic is important): The research
project will assist in identifying and analyzing various methods and selecting the best one
accordingly.
Section Three: Literature sources searched
Theme 1: Different modes of entry into international market.
In the view point of Barathalakshmi and et.al., (2018) there are different modes to enter into the
international market like exporting, franchising, licensing and Joint Venture. The selection of mode
entirely depends on the size of the business and its willingness to take risk. The author has stated that the
easiest way to enter into an international market is through joint venture as it will lead to division of risk
and capital and also provide easy entry into the international market. Moreover, tin this, company will
not face any threat from the existing players and would immediately have a hold of huge market share in
the USA.
However, the Booth and Anderson (2017) argued that although Joint venture is a less risky option
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but it is not advisable to adopt this method as it would restrict the company' control on its operations, no
authority in decision-making and also reduced profits. Therefore, it is advisable to enter through
franchising technique as it would lead to reduced burden on company and also help them in generating
more revenue with no cost involved.
Theme 2: Advantage of globalization via FDI to Booths grocery & wine store.
According to Fabris (2019) the Foreign direct investment can prove to be of great benefit to firm in USA
would help the company in boosting their revenue because of the economic boom in the country. Also,
the company will enjoy the infrastructural benefits, innovative technology and the skilled workers which
will help in maximizing their overall profits.
However, Measson, and Campbell-Hunt (2015) argues that FDI is an expensive and is a time-consuming
procedure. Also, with the changing trends in the business environment the profitability and growth
prospects of the retails stores have affected. The attitude of consumers is changing, and they prefer to
purchase online which is also a big factor that must be analysed. Therefore, the companies must use
globalization carefully as it can also contribute towards their growth and success effectively and
efficiently.
Theme 3: Challenges faced by Booth store during expansion.
In accordance with Li, Cao and Zhou (2015) there are various challenges faced by an organization while
entering into new market like exchange rate problems and change in laws and policies. Therefore, it is
imperative for the Booth store to analyse these factors and take decisions accordingly.
However, the Jackson and McManus (2016) argues that USA has a stable economy and the dollar
rate is also increasing therefore there are no issues related with the exchange rates but there exists a
problem related with the laws and regulations and the company must have a knowledge about it in
advance in order to avoid the legal problems.
REFERENCES
Books and Journals:
Barathalakshmi, J. and et.al., 2018. Measles Rubella Immunization Campaign: Challenges Faced in an
Urban Area of Chennai. Indian Journal of Public Health Research & Development. 9(7).
Booth, A. L. and Anderson, M., 2017. Food (in) security within a university community: the experiences
of students, staff and faculty at a sustainable institution. In Handbook of Theory and Practice of
Sustainable Development in Higher Education (pp. 187-199). Springer, Cham.
Booth, N., 2017. Trains: Mobile co-working spaces. Planning News. 43(1). p.21.
Fabris, N., 2019. Cashless Society–The Future of Money or a Utopia?. Journal of Central Banking
Theory and Practice. 8(1). pp.53-66.
Guo, Y., Huy, Q. N. and Xiao, Z., 2017. How middle managers manage the political environment to
achieve market goals: Insights from C hina's state‐owned enterprises. Strategic Management
Journal. 38(3). pp.676-696.
Jackson, I. and McManus, J., 2016. The importance of collaboration and competition within and outside
the OECD.
Kumar, R., 2015. Challenges faced by an organization to retain & motivate key staff. Asian Journal of
Multidimensional Research (AJMR). 4(2). pp.52-60.
Li, Y., Cao, J. and Zhou, L., 2015. Challenges faced by public health research organization in the context
of translational research. Zhonghua yu fang yi xue za zhi [Chinese journal of preventive
medicine]. 49(7). pp.585-587.
Measson, N. and Campbell-Hunt, C., 2015. How SMEs use trade shows to enter global value chains.
Journal of Small Business and Enterprise Development. 22(1). pp.99-126.
Section Four: Activities and timescales
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Activities to be carried out during the research project (e.g. research, development and analysis of
ideas, writing, data collection, numerical analysis, tutor meetings, production of final outcome,
evaluation, writing the report):
Activities /
weeks
1 2 3 4 5 6 7 8 9 10 11
Research topic
selection
Setting aims
and objectives
Preparing
brief proposal
Doing LR
Selection of
research
methods
Drafting
questionnaire
Primary data
collection
through
survey
Collation and
analysis of
gathered data
set
Concluding
findings and
recommending
improvement
strategies
Doing
formatting
Taking
feedback and
doing
modifications
in the file
Final
submission
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Milestone one: ............Data collection .............................................................................
Target date (set by tutor): .....4 th December 2019....................................................................................
Milestone two: ............Data analysis .............................................................................
Target date (set by tutor): ..............15 th December 2019...........................................................................
Section Four: Research approach and methodologies
Research methodology can include the different types of approaches and methods that can be used
and utilized by researchers so that they can make their research better and more effective
Research type- There are two types of research one is quantitative and other one is qualitative.
Quantitative research, is defined as the systematic investigation of phenomena by gathering quantifiable
data and performing statistical, mathematical or computational techniques. The other type of research
includes qualitative research which is being used in the report. Qualitative date and research type will
include primary and secondary research type. In primary research type there are various methods such as
surveys, observations, interviews and questionnaire method. These methods are very easy and reliable.
Also secondary research method type includes information from articles, journals and magazines and
many more.
Research Approach- There are two approaches under research broadly classified as inductive and
deductive research. The inductive approach has been used in study. This approach is basically used for
qualitative research. This method is mostly used by the researchers. The other research approach is
deductive. This approach is basically used for quantitative research type as it takes longer period.
Research philosophy- There are two types of research philosophy that includes positivism and
interpretivisim. The positivism philosophy will be used in quantitative research. This helps in finding out
the solutions to numerical data. interpretivism is used for qualitative research. In the present research,
researcher will use interpretivism approach for conducting the research.
Data collection- There are various methods of collecting data. The one is primary and the other
one is secondary data. The data which is collected from raw material is known as primary method of data
collection. The other one which is secondary is already been collected from the published articles and
journals.
Data analysis- Researcher will make use of qualitative analysis and to carry out the research
properly, researchers will be making use of thematic analysis. This will include various types of pie-
chart, diagrams, graphs and other appropriate things which will make the report better.
Ethical consideration- Researcher will be engage in attaching a declaration that will make sure that
they have not incorporate any biasness in carrying out the research. Candidates will also be engaged in
filling the declaration form that they have not been coerced by the researcher in any manner to give
preference to a particular option in any manner. The research must be done ethically and socially in order
to avoid any legal trouble in the near future.
CONCLUSION
From the above study, it can be concluded that globalization is the concept of selling goods and
services internationally. Booths is a wine and grocery store in United Kingdom and there are various
modes available with it in order to expand its products and services like franchising, Joint venture,
licensing and exporting. Also, there are various benefits of expanding the business into international
market but there are certain factors that must be kept in mind. The report also included a list of
challenges faced by companies during the process of globalization and a list recommendation that must
be taken to avoid any uncertainties.
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Recommendations:
 The best mode to enter into the new market is through joint venture. Joint Venture is suitable for
every business as it divides the risk and ownership and also increases the profitability of the
company in the long run. Also, it is important for a business to analyse various factors before
selecting a final one.
 The globalization has various advantages as it helps the company in achieving greater profits. The
USA economy must be analysed properly and the trends must be predicted in order to take
corrective decisions accordingly.
 Certain challenges can be faced by the company before entering into the market therefore the
challenges must be identified in advance and then corrective actions should be taken. Also, the
organization must adapt to changes in advance like spreading their business online as it would
help them in increasing their customer base and maximize the profits.
 The company must keep a close check on all the strategies and forecast its future consequences of
it would help them in selecting a suitable strategy.
 The organization must use the strategy of diversification and internationalization as it will help
the business to introduce a new line of products and services in the market and also increase the
profits effectively and efficiently.
Comments and agreement from tutor
Comments (optional):
I confirm that the project is not work which has been or will be submitted for another qualification
and is appropriate.
Agreed: ....................................................................................
(name) .................................................................................... date) ......................................................
Comments and agreement from project proposal checker (if applicable)
Comments (optional):
I confirm that the project is appropriate.
Agreed: ....................................................................................
(name) .................................................................................... date) ......................................................
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Appendix 2. Research Ethics Approval Form
All students conducting research activity that involves human participants or the use of data
collected from human participants are required to gain ethical approval before commencing their
research. Please answer all relevant questions and note that your form may be returned if
incomplete. For further support and guidance please see your respective Unit Tutor.
Before completing this form, you are advised to discuss your proposed research fully with your
Unit Tutor. Please complete this form in good time before your research project is due to
commence.
Section 1: Basic Details
Project title:
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Student name: ...................................................................................
Student ID number: ...................................................................................
Programme: ...................................................................................
School: ...................................................................................
Intended research start date: ............1 st November 2019.................................
Intended research end date: ..................16 th January 2020...........................
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Section 2: Project Summary
Please select all research methods that you plan to use as part of your project:
• Interviews:
• Questionnaires:
• Observations:
• Use of Personal Records:
• Data Analysis:
• Action Research:
• Focus Groups:
• Other (please specify):
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