Entrepreneurship in Action: Expansion Strategies for Trimline Company in Asian Markets

This research paper deals with the entrepreneurial orientation of Trimline Company and its expansion strategies in the Asian markets. It includes Porter's Five Forces Analysis, barriers to entry, competitive capabilities, and evaluation of entrepreneurial options. The report also discusses the problems faced by the company and the key contextual factors and constraints. The aim of the management is to expand in the Asian markets which provide a lot of scope for the business. The characteristics and environmental analysis that are to be considered in the business are discussed here.

Running head: ENTREPRENEURSHIP IN ACTION
Entrepreneurship in action
Name of the student
Name of the university
Author Note:

2
ENTREPRENEURSHIP IN ACTION
Executive Summary
The following research paper deals in the entrepreneurial orientation of Trimline Company
which deals in the interior designing of different kinds of ships. The main aim of the
management of the company is to expand in the Asian markets which provide a lot of scope for
the business. The characteristics and environmental analysis that are to be considered in the
business are discussed here. A reflection on the same has been discussed in the second part of the
assignment.

3
ENTREPRENEURSHIP IN ACTION
Table of Contents
Introduction......................................................................................................................................4
Definition of the problems and identification of the key contextual factors and constraints..........4
Porter’s Five Forces Analysis..........................................................................................................6
Figure 1- Porter’s Five Forces Analysis..........................................................................................6
Barriers to Entry in the International Market..................................................................................7
Summary of competitive capabilities of the Company and the Business Models to co-create and
deliver value within the experience...............................................................................................10
Figure 2- Summary of Competitive Capabilities...........................................................................12
Evaluation of the ease of implementation and the potential impact of a single entrepreneurial
option.............................................................................................................................................12
Justification of the ease Implementation of a growth option.........................................................12
Task 2.............................................................................................................................................13
Introduction....................................................................................................................................13
Discussion......................................................................................................................................14
References and Bibliography.........................................................................................................16

4
ENTREPRENEURSHIP IN ACTION
Introduction
The following report is prepared to provide an entrepreneurship plan for Trimline group
of industries while their expansion in the foreign countries (trimline.co.uk 2018). The report has
designed the entrepreneurship pathways where the strategies are framed in an effective manner
to provide the best services to the customers in refurbishment and designing of the marine
interiors. The management of the said organization has decided to expand internationally which
will provide them with lots of scope to earn more profitability. The growth strategies of the
organization will depend on the effectiveness of a robust international strategy.
Definition of the problems and identification of the key contextual factors and constraints
Trimline is a marine interiors company which is in operations for the last 50 years and is
a wide range of experience in designing interiors of ships, yachts, private boats and other such
marine transportation medium. The company is one of the leading industries in United Kingdom
in the following sector for the last five decades (trimline.co.uk 2018). The management of the
organization has decided in expansion of the business in international waters to be one of the
largest companies in marine interior designing in the world and also to increase its revenue. The
management of the company must have a proper knowledge of the market scenario of the host
country to make sure that the company has the adequate knowledge of the market conditions.
This will help the company to structure the strategies in an effective manner to gain a
competitive advantage. The company must also apply different technological innovations to
attract a large number of clients. Therefore the management of the company must focus on the
research and development process to be unique from the other similar companies operating in the
market. However the major issue lies in the allocation of funds for the process as the research
and development. Budget is one of the major issues that create problems for the company.

5
ENTREPRENEURSHIP IN ACTION
Therefore funds need to be gathered gradually to establish the R&D facility. The company has to
also take care of the market responsiveness and the constant update on the technological
advancements. The implementation of different technologies on a timely basis can make them
superior to the other companies (Yu and Lee 2017). As of now the management of the mentioned
company also fails to market itself in the international markets which are not at all acceptable as
the company aims to be one of the top industries in the designing sector of marine transportation.
Thus a robust and dynamic marketing strategy needs to be implemented by the organization to
make it one of the best in the business. Apart from this the customers of the company must also
be convinced by fulfilling their needs and demands. Therefore proper marketing techniques are
the key to the success of the company in international waters.
However the biggest problem faced by Trimline is the share of profit in the market place.
The company has failed to increase their profit margin over the years and has fallen behind to
even new companies in the block. Apart from this the management of the organization has also
failed to diversify their business which helps in creation of an extra source of revenue. Such
extra source of revenue can be helpful in the long run as because it can provide the management
with enough money to invest on research and development process easily. The company must
also prepare itself to be fit enough to meet the demands of the market in peak seasons. The
success of the company will depend on its capability to deliver proper products at the proper
time.

6
ENTREPRENEURSHIP IN ACTION
Porter’s Five Forces Analysis
Figure 1- Porter’s Five Forces Analysis
Source: (Ross 2017)
Porter’s five forces is one of the most important considerations for the company in the
view of its decision to expand its operations internationally. The following marketing tool
includes different dynamics like the competition in the market, power of the customers,
bargaining power of the suppliers as well as the customers, threat posed by new entrants and the
threat of substitute products. The analysis of the following forces in the market will be helpful
for the organization to consider their decision on entering new markets internationally. The goal
of the company is to introduce different ideas on how both the clients and the company can help
maintain a healthy industry. First and foremost the management of the company needs to identify
the potential clients of the business and also the local support.

7
ENTREPRENEURSHIP IN ACTION
a. Clients- The potential clients must be identified by the management of the country as
because the clients need to be satisfied by the organization to maintain a healthy design
culture. The Asian clients are quite different in their approach, needs and choices and
thus a proper and trusted channel must be used to reach these clients.
b. Local Support- Apart from the client identification the management of the Company
must also identify and select the local support base that will be employed to help them
expand in the host country.
Barriers to Entry in the International Market
The management of the mentioned company must choose countries which provide a high
competition for market entry. The emerging Asian markets can be the best example of such
markets. A small number of entrants in the market ensure the possibility of greater profit.
This in turn helps to ensure sustainability in the business and provide the best solutions for
the industry. The barriers to the entry in the market are probably the weakest point for the
interior designing of the company. Barriers to entry will be created by four major factors
which includes the likes of;
 Legal Barriers that includes laws, rules, regulations, certificates and licenses that are
either to be adhered by or obtained in the host countries
 Incumbents that hold the pole position in the market of the host country can use price
cutting techniques to drive out new entrants from the market. This will create huge
problems for the company to gain a smooth entry into the market
 High costs are related while starting the business operations of the country. If the
designing is done or order has been taken for a big work it will be impossible for the

8
ENTREPRENEURSHIP IN ACTION
company to replace or cancel it because of the huge cost involved. This has recently
happened in one of the European countries where the company cancelled the order at the
last moment which led to a huge loss for the organization.
 Incumbents have a strong competitive advantage in the market and thus gaining the trust
of their customers will be an arduous task for the organization.
Therefore the best way forward after entering the foreign market is to create a healthy
relationship with the customers and maintain the best possible quality for serving the
customers in the host country.
1. Bargaining power of customers- The less the control of buyers over the prices of the
materials the better for the company. This can lead to the loss of power from the hands of
the customer but on the other hand the tough competition in the market will force the
companies to innovate and design the best products to stay in the competition which will
be ultimately beneficial for the consumers. As the products of the industry are
differentiated from the other products in the market there are a selected number of buyers
who actually opts for their services. The clients are the one who helps the industry as
without them the company would have to shut down its operations.
2. Bargaining power of suppliers- The more the control of the company over their suppliers
the better. It is recommended for the company to not invest in a particular technology for
a large period of time as such an activity can be of high risk and can harm the goals of the
company to stay in the market for a long period of time. The market in Asia has less
number of suppliers and thus they do will not exert high bargaining pressure over the
management of the company. It is important for the organization to study the market
behaviors of the Asian suppliers. The Asian suppliers respect their culture too much and

9
ENTREPRENEURSHIP IN ACTION
thus the management of the company must be accustomed to the cultural conceptions of
these countries to establish themselves in the following markets. The Management of the
company must employ locals in their business to make sure that they do not face any
cultural shock which in turn can damage the business opportunities.
3. Threat posed by new entrants in the market- The entry of the new companies in the
market provides huge challenge for the incumbents in the industry. This is because the
new entrants often bring with them the best technologies and the best innovative
techniques that help them to acquire the potential customers of the market. This makes
the existing companies more vulnerable as they tend to lose their market shares which
may result into huge losses for the Company. The management of the mentioned
company has to address the changes in the market conditions and must innovate new
technologies every now and then to keep a stronghold in the competitive market.
4. Threat posed by substitute products in the market- It is really easy to choose between
designing companies like the one mentioned here as because there are a selected few
companies that deals with the refurbishing and designing of the marine modes of
transportation. However choosing companies have now became much easier as because
many of the companies specialize in technology, technique to implement the project,
target audience of the organization. And style followed by the organization.
5. Competition among the existing companies- The presence of a robust and dynamic
industry leads to less competition in the market and leads to the formation of a new brand
of loyal customers for the organization. The task of the management of the organization
is to innovate new products that satisfy the wants of the customers and also stay
competitive in the market. It is important for Trimline to offer the highest quality of

10
ENTREPRENEURSHIP IN ACTION
standards for the Asian Market. It can also try their luck in military warships as because
the military market has been on a rise in Asian countries like India and China. The
mentioned interior designing company must make sure to provide the best quality
products to maintain a competitive edge over the minimum number of competitors in the
industry (Ross 2017).
Summary of competitive capabilities of the Company and the Business Models to co-create
and deliver value within the experience
Trimline is one of the leading companies of the market that provides services towards the
refurbishment and maintenance of the shipping interior. The service provided by the following
organization has helped it to earn a loyal set of customers. The company has ensured the delivery
of the services on time which has also helped in the preparation of a proper budget. Business
models have been an integral part of the economic and trading behavior for a long time from
now. The advent of modern technologies has helped in the advancement of the business models.
The success of the business organizations depends on the organizational design and change in the
business models according to the demand of the shipping companies (Österman Praetorius and
Hult 2017). This may start from the micro level of the business to the macro level of the host
countries and the economic zones. Therefore the management of Trimline must concentrate on
formulating a proper and efficient business model to gain momentum in new markets of Asia.
The business model is generally created by three different steps namely;
 Value Creation- Value creation is one of the most basic elements of the formulation of
business model as because it clearly recognizes why and for whom the value is being
created. The absence of any value to the products and services of the company will lead

11
ENTREPRENEURSHIP IN ACTION
to failure of the organization in the market. The main value that is delivered by the
company comes with the refurbishment and designing skills of the organization. Business System- The creation of value is utmost important for the management of the
company to gain success in the Asian markets. The cost of incorporating an effective
business system must be lower than that of the annual revenues of the Organization. Value Capture- The following provides the reasoning behind the creation of the value for
the products and services of the organization. Business Ecosystems- The recent developments in the area of the business ecosystems
suggests that while the business model frameworks are not suitable for the present set of
challenges faced by the organization.

12
ENTREPRENEURSHIP IN ACTION
Figure 2- Summary of Competitive Capabilities
Source: (Österman Praetorius and Hult 2017)
Evaluation of the ease of implementation and the potential impact of a single
entrepreneurial option
As mentioned earlier Trimline is one of the leading shipping interior designing
organizations based in UK. The industry has been in service for the last 50 years and has
constantly served its customers which paved the way for a personal relationship with the clients
of the organization (Omorede and Axelsson 2018). Trimline if makes an entry into the Asian
markets can be a revolution itself as because no such companies offer such unique product and
services in Asia. According to, Kang et al. (2017) the clients of Asia usually depend on European
markets to refurbish the ships which incur a huge amount of money. The start of operations by
the mentioned company in Asia will help in the reduction of operational costs for the
organization. Thus the management of the organization must review the above report to get an
idea of the technical feasibility, business viability and stakeholder desirability of the organization
(Murto Person and Ahola 2014).
Justification of the ease Implementation of a growth option
The implementation of the main strategic ideas of the management is crucial to the
success of the business environment. The implementation of the business plan, campaign, or
project is dependent on the tactics, tools and strategies of the organization. The plan provided in
the following chapter is quite viable and compatible for the business organization. The
uniqueness of the following business along with the service it provides to the companies has
been the best in the business and helps to manage the business efficiently (Mohammed and

13
ENTREPRENEURSHIP IN ACTION
Obeleagu-Nzelibe 2014). The management of the company must implement the entrepreneur
strategy to spread its business in the emerging Asian markets. The Asian markets will offer huge
scope and profit to the mentioned company as because the services offered by Trimline are
totally absent in these parts of the world. Therefore the main entrepreneur focus of the company
in Asia will be at;
 Conducting a market research to gain the idea of the future scope of the market
 The implication of the future strategy of the business should be discussed with the
stakeholders for their interests
 The focus of the management must be on business viability, technical feasibility and
desirability of the stakeholders and the concerned persons to start their operations in the
Asian markets
Task 2
Introduction
Entrepreneurship is the act of the different economies in the present world. Most of the
innovations are drawn and implemented by the entrepreneurs. The role of the mentioned people
has thus been expanded and each and every such action of the entrepreneurs is not only for self
fulfillment but also for solving the different problems that lies in the society. The study of the
case of Trimline and its entrepreneur options to establish their operations in Asia has been a great
learning experience for me as I have similar entrepreneurial thoughts in my mind. I have thought
about the different innovations that have changed the world. The strategy formulated by the
management of Trimline will be extremely helpful for me to implement my entrepreneurial

14
ENTREPRENEURSHIP IN ACTION
thoughts practically. As an entrepreneur I am innovative and I am also able to innovate new
ideas for the expansion of my business as well as enrich my personal experience.
Discussion
The above said case of Trimline highlights the immense success that the company has
achieved over the years along with the entrepreneurial ideas of the management to establish their
business in Asia. A thorough and compact analysis of the Entreprenurial skills of the mentioned
business organization is really helpful for my development as a skilled entrepreneur. The first
and foremost element of the entrepreneurial skill must be to create value for the business
products and services. The values and services of my business will be essential for the creation
of a reputation and also the growth of my business. I will have to identify the value of the
product by terming the uniqueness of the product and comparing them with the other similar
kinds of products in the market. Another most important consideration on the success of my
business will be the creation of the business system. I am responsible for creating a proper and
effective system for the business which will help the organization. A number of different
challenges will be faced by me while implementing these policies.
The business idea that I have in mind is a start up online retailing. The idea struck me as I
am a regular shopper from the different types of online market sites. I felt that I can start up a
start up business with the same idea as the development of Information Technology and the ease
of access for the customers will help my business to grow in stature. The case of Trimline will
again help me to bring uniqueness to the product and concentrate more on market research and
development process to achieve great success in the coming years. Similar to the likes of

15
ENTREPRENEURSHIP IN ACTION
Trimline I can focus more on the emerging markets which will help me to avoid unnecessary
competition from the beginning.
I will have to take a number of personality tests for the success of the entrepreneur. This
will help me to increase my confidence and help me to increase my personal capacity to deliver
the best for the organization. These personality tests included the Da-Vinci type test and Bill
Wagner’s Personality test. I will also undergo the HBDI personal test to measure whether I have
a conceptual or practical frame of mind. Thus the following chapter has defined the ways by
which entrepreneurial skills of Trimline can act as the perfect guidelines to the creation of
entrepreneurship capabilities in a person.

16
ENTREPRENEURSHIP IN ACTION
References and Bibliography
Ahola, M. and Mugge, R., 2017. Safety in passenger ships: The influence of environmental
design characteristics on people's perception of safety. Applied ergonomics, 59, pp.143-152.
Ahola, M.K., Salovuori, H. and Lehtonen, M.J., 2015. Exploring Cruise Experience Through
Actor-Networks of the Cruise Ship Environment. International Journal of Marine
Design, 157(C1), pp.1-12.
Brooker, G., 2017. Adaptation Strategies for Interior Architecture and Design (Vol. 69).
Bloomsbury Publishing.
Covin, J.G. and Miller, D., 2014. International entrepreneurial orientation: Conceptual
considerations, research themes, measurement issues, and future research
directions. Entrepreneurship Theory and Practice, 38(1), pp.11-44.
DeGeest, D.S., Seibert, S. and O'Boyle, E.H., 2014, January. General Mental Ability and
Entrepreneurial Behavior and Performance: A Meta-Analytic Review. In Academy of
Management Proceedings (Vol. 2014, No. 1, p. 11369). Academy of Management.
Gross, B., Werner, H.G. and Paruchuri, S., Johnson Controls GmbH, 2017. Reinforced structural
element made of plastic, in particular in the vehicle interior design field. U.S. Patent 9,849,636.
Hartsfield, S., Johansen, D. and Knight, G., 2017. Entrepreneurial orientation, strategy, and
marketing capabilities in the performance of born global firms. International Business:
Research, Teaching, and Practice, 2(1), pp.12-38.
Haskins, G., 2018. Entrepreneurial Learning: Knowledge, Skills, Behaviours and Attitudes-An
Introduction. In Entrepreneurial Learning City Regions (pp. 95-99). Springer, Cham.

17
ENTREPRENEURSHIP IN ACTION
Ibrahim, N. and Mas’ud, A., 2016. Moderating role of entrepreneurial orientation on the
relationship between entrepreneurial skills, environmental factors and entrepreneurial intention:
A PLS approach. Management Science Letters, 6(3), pp.225-236.
Iza, A., 2016. Entrepreneurial skills, technological progress and firm growth (No. 9469).
EcoMod.
Jansson, K., 2016, October. Circular Economy in Shipbuilding and Marine Networks–A Focus
on Remanufacturing in Ship Repair. In Working Conference on Virtual Enterprises (pp. 661-
671). Springer, Cham.
Kang, H.J., Choi, J., Lee, D. and Park, B.J., 2017. A framework for using computational fire
simulations in the early phases of ship design. Ocean Engineering, 129, pp.335-342.
Lobo, C.A., Costa-Lobo, C. and Ferreira, A.T., 2016. Entrepreneurial skills, the theory of
networks and internationalization: A theorical approach.
Mohammed, U.D. and Obeleagu-Nzelibe, C.G., 2014, January. Entrepreneurial skills and
profitability of Small and Medium Enterprises (SMEs): Resource acquisition strategies for new
ventures in Nigeria. In Proceedings of 25th International Business Research Conference (Vol.
64, No. 16, pp. 1-21).
Murto, P., Person, O. and Ahola, M., 2014. Shaping the face of environmentally sustainable
products: Image boards and early consumer involvement in ship interior design. Journal of
cleaner production, 75, pp.86-95.

18
ENTREPRENEURSHIP IN ACTION
Omorede, A. and Axelsson, K., 2018. Migrant Entrepreneurs and Their Spark for Entrepreneurial
Exploration. World Academy of Science, Engineering and Technology, International Journal of
Law and Political Sciences, 5(8).
Österman, C., Praetorius, G. and Hult, C., 2017. Work environment challenges and participatory
workplace interventions on passenger ships. In 49th Nordic Ergonomics Society (NES)
Conference Joy at Work (pp. 452-459).
Ross, J.M., 2017. Human factors for naval marine vehicle design and operation. CRC Press.
Trimline.co.uk. (2018). Trimline | Home. [online] Available at: https://www.trimline.co.uk
[Accessed 10 Apr. 2018].
Yu, J.W. and Lee, Y.G., 2017. Hull form design for the fore-body of medium-sized passenger
ship with gooseneck bulb. International Journal of Naval Architecture and Ocean
Engineering, 9(5), pp.577-587.