Small Business and Entrepreneurship in the Automotive Industry
Added on 2020-06-04
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INTERNATIONALBUSINESS MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1ASSIGNEMNT 2.............................................................................................................................1Entry strategy:.............................................................................................................................1Strength and weaknesses of lighting car:....................................................................................2Intended organisational design....................................................................................................3Expansion scope in new market..................................................................................................5Requirement of financial capital.................................................................................................6Staffing policies..........................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONNowadays, business is becoming globalised that will allow their businesses to expandtheir businesses in many countries. There are various strategies for entering into any market.Now there are so many tools which would allow by lighting car company (Beamish, 2013).Financial capital market refers to, financial market is mainly divided into two parts capitalmarket and equity market. For achievement of organisational goals and earn maximum profitfrom external market place, so in this case business firms are investing their fund in severalareas. Along with this, these both markets are regulated and controlled by government of countryin appropriate manner. In this report various type of strategies are introduced that are used bylightening car company in practice to expand it business in India.ASSIGNEMNT 2Entry strategy:There are various ways by which the cited company could enter could enter in a foreignmarket. Direct exporting might be one of the most adequate strategy in one market but, on theother hand, there are other various modes which are having some set of regulatory requirementsbefore entering into new markets. The following strategies are the major tools by which one canenter into another market. Some of them are mentioned hereunder: Direct export: Direct export sending out is offering specifically into the market you havepicked utilizing as a part of the primary case you possess assets. Many organizations, once theyhave built up a business program swing to operators and additionally wholesalers to speak tothem promote in that market. Operators and merchants work intimately with you in speaking toyour interests. They turn into the substance of your organization and accordingly it is essentialthat your selection of specialists and merchants is taken care of similarly you would enlist a keystaff individual (Birkinshaw, Brannen & Tung, 2011). Licensing: Licensing is a generally advanced game plan where a firm exchanges therights to the utilization of an item or administration to another firm. It is an especially helpfulsystem if the buyer of the permit has a generally vast piece of the overall industry in the marketyou need to enter. Licenses can be for promoting or creation. permitting). Franchising: it is a kind of North American process for quick market extension howeverit is picking up footing in different parts of the world. Diversifying functions admirably for firms1
that have a repeatable plan of action that can be effectively moved into different markets. Twoprovisos are required while considering utilizing the establishment display. The first is that yourplan of action ought to either be exceptionally one of a kind or have solid brandacknowledgement that can be used globally and besides you might be making your future rivalryin your franchisee. Partnering: Partnering is right around a need when entering remote markets and in a fewsections of the world (e.g. Asia) it might be required. Cooperating can take an assortment ofstructures from a basic co-promoting game plan to an advanced vital organization together tomanufacture (Cantwell, Dunning & Lundan, 2010). Banding together is an especially valuablemethodology in those business sectors where the way of life, both business and social, issubstantively not quite the same as your own as nearby accomplices bring local market learning,contacts and if picked wisely clients. Joint Ventures: Joint venture are a specific type of association that includes the makingof a third freely oversaw organization. It is the 1+1=3 procedure. Two organizations consent tocooperate in a specific market, either geographic or item, and make a third organization toattempt this. Dangers and benefits are typically shared similarly. The best case of a joint ventureis Sony/Ericsson Cell Phone. Purchasing a Company: In a few markets purchasing a current neighborhoodorganization might be the most suitable section procedure. This might be on the grounds that theorganization has significant piece of the pie, are an immediate contender to you or because ofgovernment directions this is the main alternative for your firm to enter the market. It ispositively the most exorbitant and deciding the genuine estimation of a firm in an outside marketwill require generous due perseverance.Strength and weaknesses of lighting car:lighting car Motors outlines, creates, fabricates, and offers superior completely electricvehicles and vitality stockpiling items (Organization Design for International ConstructionBusiness. 2017). It has built up its own system of vehicle deals and administration focuses, andalso Supercharger stations far and wide to quicken the across the board appropriation of electricvehicles. It worked 208 areas, alongside 585 Supercharger stations in North America, Europe,and Asia. The organization presently delivers and offers two completely electric vehicles, theModel S car and the Model X don utility vehicle. 2
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