Managing Successful Business Projects

This research report explores the challenges and benefits of using joint ventures as a mode of entry for international expansions. It focuses on the case study of 'Happy Bulgaria' in the UK market and provides recommendations for using the correct market entry strategies. The report includes a literature review, methodology, and analysis of the results.

MNAGING SUCCESSFUL
BUSINESS PROJECTS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................4
LITERATURE REVIEW................................................................................................................4
Risk factors associated with the joint venture.............................................................................4
Benefits that arise by using joint venture as an expansion medium............................................5
Recommendations for using correct market entry strategies.......................................................6
METHODOLOGY..........................................................................................................................6
RESULTS........................................................................................................................................9
CONCLUSION AND RECOMMENDATIONS..........................................................................16
REFLECTIONS.............................................................................................................................18
REFERENCES..............................................................................................................................20
APPENDIX....................................................................................................................................22
Questionnaire.............................................................................................................................22

INTRODUCTION
The major concern of a wide sector of companies planning to go for international
expansions is related t the ode of entry i.e. the correct medium through which the companies
should enter in such international markets. There are a variety of options that are available but
the correct option must be selected in accordance with the nature of business, its, activities, its
size etc. In this research report, the benefits and challenges that are related to joint venture in
particular as a mode of entry would be evaluated in the context of the Happy Bulgaria in the
market of UK (Lynch and Jin, 2016). The research topic would help in the current environment
where there are no clear distinguishers between the various advantages and disadvantages that
are aced by the companies practically while expanding internationally. The research will
contribute immensely in ascertaining what are the risk factors especially in context of the joint
venture because this is one of the most feasible approaches of expansion internationally.
The present research that has been undertaken is performed specifically in context of the
restaurant chain of Bulgaria and this is being done so that the joint venture as an expansion
option can be evaluated in context of the restaurants specifically. The capital to be invested is not
very high with the restaurants and additionally the risk of the success of the restaurants is also
very high (Dinu, 2016). Therefore, it is necessary to evaluate and identify those options where
maximum returns can be garnered without undertaking too much risk or investing too much. The
reason that this research topic has been selected for this researcher is because this area is not very
well researched regarding the investment options for restaurants and therefore it is easier to for
the similar restaurant chains who are planning to expand. They will be able to identify the
different risks and challenges that they can face if they choose joint venture as their expansion
strategy and it will also highlight the benefits that such strategy provides.
The research being undertaken will also assist the students and other researchers in
determining what are the different aspects that are actually face and the primary research will
help in collection of original data (Gross, Huang and Ding, 2017). This will develop the
conclusions and findings of the research in a realistic manner where the actual challenges etc.
will be identified and discussed. Therefore, the research topic that has been selected is analysis
of different challenges and benefits that arises while expanding business through joint venture
medium.
Aim
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To analyse the challenges and the benefits relating to market entry in context of the case
on “Happy Bulgaria” in the UK market.
Objectives
 To investigate the risk factors associated with joint venture for the organizations
 To determine the benefits enjoyed by the firms resulting from the joint venture
 To conduct primary data, through questionnaires ,to assess the market potential for the
entry of Happy Bulgaria in the UK.
 To provide appropriate recommendations in relation to the strategies that should be
adopted to the entry in the UK market.
MAIN BODY
LITERATURE REVIEW
Literature review basically involves collection of already published data and facts related to
the topic that has been selected. This helps in critically analysing the viewpoint of different
authors that they presented in their research papers, journals, articles, etc. and then synthesise
their view point.
Risk factors associated with the joint venture
As per the research paper published by Vargas-Hernández, Ioannis and González-Armenta
(2017), it can be evaluated that during international expansion, there are various risk that might
be faced by the business men if they choose joint venture as an expansion strategy. The most
prominent risk is the selection of the joint venture partner with whom the business is to be
expanded with. The partner’s manner of working and the ethics of operation etc. everything
needs to be tested thoroughly before deciding to invest in the business as joint venture partners.
This is often the most critical steps and faulty selection of partners can lead to serious
consequences that can cause failure of the entire joint venture. Next major risk that the author
has highlighted in their research paper is that there is often lack of clear division of duties and
responsibilities that create difficulty in obtaining optimum balance. This creates the negative
work culture and collaboration between two different organisational bodies and ultimately
affects the longevity of the joint ventures thus entered into. The authors have concluded that due
to such risk factors the joint ventures are often short lived where their actual working life gets
reduced significantly due to the reduction in the balance and clarity of activities that is required
to operate the business successfully.
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The point above is however contradicted by the research paper published by the
Khamaksorn, Tah and Kurul (2020), stating that there are indeed many risk factors that are
associated with the joint venture as an expansion tool but despite his the company can work
together successfully for a longer time period. There is the risk of getting into confusions
regarding clear segregation of duties but this aspect can b addressed by developing good legal
counsel where the companies collectively can form clear structures segregating the areas of
operation for both of them. This will help in reducing the duplicity of task as well. The risk of
the correct partner’s selection is also evident but this too can be minimised using the good
research skills where the market is analysed in prior to finalising the partners. It is easier to
obtain the data regarding the activities of a business man and based on this data along with the
personal observation skills, the joint venture can operate successfully if completed in a
systematic manner.
Benefits that arise by using joint venture as an expansion medium
The research paper published by Zakić and Radišić (2017), illustrates that there are several
benefits that arise while using joint venture as an expansion tool and strategy. The authors have
highlighted that by entering into joint venture the risk that is associated with the success of the
business gets reduced in half and the investments are also reduced in half. This acts as a major
benefit for the companies that are currently operating at smaller scales and find the assistance of
such capital investment as immensely helpful. The authors have further highlighted the benefits
of the joint venture stating that the joint venture helps in penetrating into new and international
markets with already available customer base and the knowledge or expertise that is required in
order to operate successfully in these countries. The authors further highlight that if some other
mechanisms would have been used then the time taken to develop customer base, establishing
brand name etc. would be very long and the benefits are reaped after a much longer time period.
Another research paper published by Pratono and Ratih (2019), further highlights that apart
from the physical benefits and the benefits related to the resources of the partner company, there
are several other benefits such as the intellectual property rights that are gained due to the such
joint ventures, the benefit of synergy that can be utilised, the increased competitive power that
such joint ventures holds in the new international market etc. are some major benefits that arise.
Another major benefit that can arise from such expansion through joint venture is by utilising the
economies of scales where the combined resources of the two separate companies can lead to
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better creation and distribution of the resources that will also cause increased revenue generation
for the joint venture which has been entered into.
Recommendations for using correct market entry strategies
The authors, Nippa and Reuer (2019), have recommended the manner in which the
companies can choose the correct expansion strategies on the basis of the various factors. The
political environment of the country in which the company is planning to expand is the first
aspect where the regulations and allowance for international trade is the first aspect that should
be considered. Secondly the preference of the people in that country regarding the product
should also be evaluated as it helps in ascertaining that whether their product can be a success
without any assistance by opening stores of their own etc. These aspects help in ascertaining
what is the correct expansion strategy that a company should adopt in order to minimise the
future risk options.
Apart from this, another research paper published by the Jain, Kashiramka and Jain (2018),
further illustrates that the risk taking capability of the company, the investment that they can
successfully make in such expansion etc. are some of the additional aspects that need to be
considered. A firm should focus on internal analysis as well so that they are clearly able to
identify which strategy would be the best without jeopardising the interests of the company
simultaneously.
Overall the literature review that was undertaken for the purpose of completing secondary
research shows that majority of the authors have categorised joint venture as hugely beneficial
for the organisations that do not have too much capital to invest and tend to minimise their risk
percentage as well by such expansion. Joint venture hence was found to be an appropriate
strategy that can be used for expansion by smaller organisations.
METHODOLOGY
Research Type: There are present various taxonomies which can be used with the intention to
categorise research journals and papers based on various factors. A research paper can be
categorised on the basis of its aim, purpose, subject of research, nature or any other attribute but
the most common methods to categorise the types of research papers is qualitative and
quantitative research papers. Quantitative research is predominantly expressed using graphs and
numbers with its data collected also being in numeric form so that it can be analysed statistically
and mathematically. It is used to assess the validity of assumptions and theories.Qauntitative
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research is mainly focused on facts, figures and theories that can be quantified into numerical
values (Wiek and Lang, 2016). Contrastingly qualitative research predominantly makes use of
words and ideas with the intention to evaluate and understand experiences, thoughts and
concepts for research or study purposes. Qualitative research is primarily focused on an
individual’s thoughts, feelings, beliefs, opinions, and ideas that cannot be quantified into
numerical values and is qualitative in nature. This research paper is qualitative in nature as it
takes into account the feelings, beliefs, opinions and views of individuals which cannot be
quantified and analysed using mathematical techniques and approaches.
Data Collection: Data collection is the strategic process through which researchers collect
essential relevant information for their study or research purposes using various sources with the
intention to figuring out correct answers to the research problems and questions. There are
mainly two approaches through which researchers can collect their research data- primary and
secondary methods. This research paper makes use of both approaches. Primary data collection
approach is when the researcher collects relevant data by themselves for their study or research
purposes, while secondary data collection approach is when researchers make use of data that is
collected by other individuals for their own research purposes (Fletcher, 2017). Use of primary
data collection approach results in accurate, relevant and reliable data that is suited to the needs
of the particular research, while secondary data can often range in its quality, accuracy,
reliability and relevance as it was collected for completely different purposes than what the
researcher now wants to apply it for i.e. towards his research. This research paper makes use of
primary data collection approach through the dedicated questionnaires and also makes use of
secondary data collection approach through the literature review, that this research paper has
conducted, so that accurate, reliable and relevant data that is essential for the purposes of this
research paper is collected.
Sampling: It is the strategic process through which researchers select a dedicated number of
individuals from amongst a larger group for research or study purposes, conducted in such a
manner that the selected sample of individuals come to represent the entire group from which
they were selected. There are two approaches available to researchers for their sampling
operations known as probabilistic and non probabilistic sampling. Probabilistic sampling
approachrandomlyselects the individuals from a group for research purposes, so that all
individuals within the group have a fair and equal chance to get selected and represented in the
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sample (Kumar, 2019). Contrastingly, non probabilistic sampling approach does not make use of
randomised techniques for selections, instead makes use of non random techniques such as the
judgement of the researchers to select individuals for a given sample from amongst a larger
group. For this approach, all individuals do not have a fair and equal chance to get represented in
the selected sample. This research paper makes use of probabilistic random sampling method to
select a sample of 30 employees of Happy Restaurants as respondents, for its research purposes.
Data Analysis:Data analysis is the strategic process through which a researcher can effectively
assess and evaluate the data that has been collected with the intention to identifying trends,
patterns and usable information from the collected data that can be applied to the research
paper’s themes. Researchers have access to two main approaches of data analysis for their
research or study purposes- thematic data analysis and statistical data analysis.Thematic data
analysis is suited to qualitative types researches as through this approach the researcher tries to
gain insight into the patterns, trends, meaning and information within the data that is collected
through analysis. Contrastingly, statistical data analysis approach is suitable for quantitative
types of research as in statistical data analysis, the researcher tries to quantify the collected data
and apply a form of statistical analysis to it using statistical tools and software (afWåhlberg,
2017). This research paper makes use of thematic data analysis approach as it is most suited for
qualitative research and helps researchers gain insights, trends, patterns and meaningful
information from the qualitative data that is collected from primary and secondary sources for
the research.
Ethical Issues: There are also present various ethical issues related to how the research was
conducted, data was collected and stored for the research paper. One major ethical issue during
the research was the consent of the external participants for the research. All external participants
were made to provide their consent for willingly participating in the research of their own
accord, without any external forces pushing them to participate in the research. The researcher
was also made to sign a declaration form which explicitly stated that all contents in the research
paper are original to them, with all external and secondary sources and data used for the research
appropriately referenced and cited so that no plagiarism takes place in relation to the research
paper (Mohajan, 2018). Another major ethical concern during this research was the storage of the
primary data that was collected during research in an ethical and safe manner, as the data was
highly sensitive and confidential in nature and could not be leaked to external sources which
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would breach the privacy and consent of the researching participants. For the data storage
operations, all data was first encrypted using advanced encrypting algorithms so as to make the
stored data secure. Then the data was stored in a cloud service with firewalls, with access
privileges restricted to handful of researchers with the intention to further provide increased
security to the stored data.
RESULTS
The result section will include the analysis of the data that has been collected on the basis of
primary research that was conducted. For primary research, questionnaires were distributed to
the employees of Happy and their opinion regarding the international expansion was obtained.
This has been analysed and presented in following manner:
Theme 1: Majority of the respondents were found to be aware with the joint venture as an
expansion strategy.
Do you understand the concept of international
expansion through joint venture?
Frequency
Yes 27
No 3
Total 30
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Interpretation: The chart above clearly signifies that the maximum numbers of employees are
aware about the joint venture technique of international expansion where only 10% of them were
found to be unaware of this concept as expansion strategy. This can be further referenced from
the analysis done in the literature review above where it was identified that the joint venture was
the most beneficial technique that is available to the businesses (Le Nguyen, Larimo and Wang,
2019). Therefore, the interpretation that the maximum number of respondents knows about the
joint venture technique acts as support in the argument that has already been discussed and
analysed.
Theme 2: Maximum employees are aware that Happy is planning for international expansion.
Are you aware of the fact that Happy is
planning to diversify itself out of Bulgaria in
UK?
Frequency
Yes 29
No 1
Total 30
Interpretation: Maximum of the employees i.e. 97% agreed that they were aware regarding the
planning of Happy to go for international expansion in UK and were all geared up for such
expansion. This shows that the company keeps their employees informed about the major
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decisions that they are undertaking and the company has the support of its employees in the
decision for international expansion in UK. This will assist the company in expanding their
business when they decide on the expansion strategy that is to be used.
Theme 3: Joint venture was opinionated to be the best expansions strategy that Happy could
adopt.
What according to you is the best strategy for
such international expansion of Happy?
Frequency
Joint Venture 13
Opening their own stores 10
Franchisee or Licensing 4
Should not go for international expansion right now 3
Total 30
Interpretation: Chart clearly signifies that the joint venture was the most favoured approach that
the employees think for the international expansion of Happy. It was identified that the majority
if respondents stated that using joint venture would be the best strategy due to the limited risk
and quicker brand establishment as it was identified in the literature review done above as well.
It was identified that smaller businesses can minimise potential risk by engaging into joint
venture as an expansion technique and this can further help them in the controlling the exposure
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to risk as well (López-Cózar-Navarro, Benito-Hernández and Platero-Jaime, 2017). The chart
therefore interprets what was found earlier that joint venture is the best strategy that can be
adopted by smaller businesses during international expansion.
Theme 4: Majority of employees found it likely that Happy will succeed in its new joint venture
in UK.
How likely do you think Happy is going to
succeed if it enters into joint venture with a
UK’s firm?
Frequency
Extremely Likely 10
Likely 12
Neutral 0
Unlikely 6
Extremely Unlikely 2
Total 30
Interpretation: When the Happy enters into the international market with their restaurant chain
through the joint venture medium, majority of the employees think that it is most likely that they
will succeed in the European market. The percentage of respondents thinking it to be extremely
likely also follows quite closely at 33% where they think that the chances of success are
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extremely likely. The analysis done in the literature review also evidences that for small
businesses, if they expand using the joint venture technique then the chances of success increase
drastically thus agreeing with the view of the opinion of the respondents as well.
Theme 5: Maximum respondents feel that the brand name of Happy can be threatened due to
this joint venture.
Do you feel that the brand name of Happy will
be threatened if they decide to go for joint
venture?
Frequency
Yes 14
No 5
Most likely it will 9
No idea 2
Total 30
Interpretation: The chart above can be used to interpret that when the brand value that Happy
has created in Bulgaria is taken into consideration, and then it is possible that the company might
lose the rand name that it was able to develop with the quality of food that they were serving.
This is plausible since the joint venture would involve sharing the goodwill and the brand value
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as well and this has been identified from the research that was done earlier under the risk section.
This is a potential risk that an organisation will have to incur if they plan on expanding further.
Theme 6: Threat to brand name and loss of USP were found to be the major challenges that
Happy can face.
. What according to you would be the major
challenge that Happy will face after joint
venture?
Frequency
Cultural Inappropriateness 2
Threat to brand name 10
Increased risk of market exposure 5
Loss of Unique selling point 10
None 3
Total 30
Interpretation: The chart above helps in interpreting that the respondents gave equivalent
answer to the two options that would act as major challenge for happy when they choose joint
venture as an option for international expansion. These were potential threat to brand name and
the loss of unique selling point of the restaurant i.e. the food and its taste that they would have to
share with the restaurant with whom they are tying up (Jiang, Holburn and Beamish, 2018).
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Therefore, it can be said that the majority of respondents think that these two would be the major
challenges faced by the company on their international expansion by choosing joint venture as
the strategy of expansion in UK.
Theme 7: Established market share was agreed to be the major benefit that can be incurred in
the joint venture of the Happy.
What would be the major benefits that Happy
will be able to utilise after joint venture?
Frequency
Established market share 17
Inside knowledge related to the customers 2
Reduced market risk 6
Greater revenue generation 5
Total 30
Interpretation: The chart concludes that the main benefit that company is going to derive by
going international through joint venture as the expansion tool is that the readily available market
segment that the company can easily target through their products rather than slowly building up
the goodwill and brand name. this has been researched in the literature review as well where it
was identified that the major benefit of going international is that the established market segment
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can be gained and benefits on revenue can be easily generated. This was ascertained in the
primary research as well by the answer of the respondents.
CONCLUSION AND RECOMMENDATIONS
The research conducted above helps in concluding that the entire research process is very
long and intricate process where there are multiple factors that need to be taken into
consideration while undertaking the entire research activities. It can be concluded from the
research undertaken that there are multiple strategies that can be used by the companies while
deciding n on international expansion. However, it was identified that the strategy of joint
venture was the most feasible option that was available to the organisations with comparatively
lower investment avenues and who do not want to take higher risks. The Happy was found to be
one such chain of restaurant s operating in Bulgaria and the research evaluated that whether the
technique of joint venture could be adopted by them as an expansion strategy. The research was
conducted through both primary and secondary mechanisms and it was identified that the major
findings of both the researches were common. The joint venture technique was identified as the
most beneficial strategy for Happy in primary research and in secondary research where smaller
businessmen can enjoy various benefits of this strategy as well. The research also concluded that
the challenges that are faced in the joint venture simultaneously are also immense where it was
identified that the majority of the joint ventures face the most potential risk of selecting the
correct partner who will contribute in the further development of the company rather than in
taking advantage of the resources and building up on it. It was also concluded that the risk of
depreciation in the brand name would also be the major risk that the companies entering in joint
venture would have to face particular Happy who has developed its brand image after working
on the quality of products and services that are served by them in their restaurant.
On the basis of challenges identified, there are various recommendations that can be made
for the companies who are planning to expand their businesses at international level. This can be
done in following manner:
 The companies should always analyse their strategic positioning in the domestic country
first where they evaluate that whether the capital for international expansion is adequate or
not, what is he risk taking level of the company etc. All this factors will help the company in
ascertaining that what s the level of exposure that they can tolerate in the international
market without compromising the domestic affairs.
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 Then the company should analyse the investment options and flexibility that is available in
the company with in which they intend to trade. This will help in analysing the pros and
cons of trading through different trading mechanisms in different countries where expansion
needs to be done. This will also assist in identifying what would be the most profitable
strategy that could be adopted for the expansion that is intended and hence draw major
benefits.
 After the internal and external analysis, the company will be able to select a particular
expansion strategy based on the conclusions that were drawn on the analysis of the
environment. Consequent to this, the company should select appropriate strategies that are to
be used for comprehensive expansion. For instance in the present research, for Happy
restaurant, the joint venture medium has been selected so the company should then analyse
all the potential companies in the market of UK with which partnership would be profitable
and add on to the net worth of the company.
 Both the companies should keep clear distinction between the roles and responsibilities that
are to be fulfilled and therefore this will lead to better working practice and balance between
the different activities that are to be performed. The balance and clear segregation swill help
both the companies in keeping of control over their part of duties that are to be fulfilled thus
helping in the better decision making as well.
 The company should tend to restore some of it essence or originality in the new brand name
that is being created under the joint venture so that the customers are able to recognise the
original brand which will help in avoiding the loss of original brand name in the
international market.
 Another major recommendation that can be made is that the terms and conditions must be
clearly set before finalising any agreement so that in case of any legal case scenarios that
can arise in future, unnecessary complicacies can be avoided and better management can be
integrated.
Therefore, by adopting the intended recommendations, the company would be able to
perform better after entering into the joint ventures and maximum benefits can be drawn by both
the companies simultaneously.
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REFLECTIONS
In my opinion, the overall experience of conducting this research was an immensely positive
one, as I ended up learning a lot in the process of conducting and completing this research paper
about the various entry methods businesses can make use of to enter into global markets and the
particular risks and advantages that are thrust upon a business such as Happy Bulgaria if they
make use of joint venture method to enter into global markets in order to diversify their
operations and increase their productivity, market share, customers base and profitability in the
UK’s markets. This was an immense learning opportunity for me as I had no prior knowledge of
the joint venture method business use to enter into global markets and this made me develop both
personally and professionally. I also learned a lot about how to appropriately conduct the
necessary research for a research paper of this scope, something I had not undertaken prior to
this project and though I did face some difficulties, they showcased to me areas in which I could
further develop and improve myself. I also ended up learning a lot from the market analysis
conducted to assess the market potential for the entry of Happy Bulgaria into the UK’s markets,
as this was also something I had never done before (Galdas, 2017). The most significant hurdle I
faced during the completion of this report was in the primary data collection operations, needed
for the research paper. Though I found selecting a sample of 30 employees to be easy, collecting
their data in an ethical manner proved quite challenging for me, as I had to first educate many
people on the reasons for which they had to sign and provide their personal consent for the
research, towards which they were hesitant at first. But through effective communication and
determination, I was able to procure the consent of all research participants and able to
successfully analyse and complete the research. Another issue I faced during the research was
related to the storage of primary data collected which was highly sensitive and confidential in
nature and if leaked could lead to immensely troubling consequences for me. For this I consulted
my superiors, who guided and recommended me with encryption algorithms which can make the
stored data secure against external threats and also showcased to me the safe cloud
configurations I could make use of to safely and securely store the research data (Macmillan and
Paine, 2018). Contrastingly, I found my time management skills to be appropriately adequate as I
was able to complete the research paper in the dedicated time restrictions and also had ample
time at the end to review and reassess the results of my data analysis and research
recommendations so that they were correct according to me. Overall undertaking this research
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project was an immensely positive learning experience for me and added significantly towards
my personal and professional growth.
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REFERENCES
Books and Journals
afWåhlberg, A., 2017. Driver behaviour and accident research methodology: unresolved
problems. CRC Press.
Dinu, A.M., 2016. International expansion through joint venture-risks and benefits. Knowledge
Horizons. Economics. 8(1). p.139.
Fletcher, A.J., 2017. Applying critical realism in qualitative research: methodology meets
method. International journal of social research methodology.20(2). pp.181-194.
Galdas, P., 2017. Revisiting bias in qualitative research: Reflections on its relationship with
funding and impact.
Gross, M.J., Huang, S.S. and Ding, Y., 2017. Chinese hotel firm internationalisation: Jin Jiang’s
joint venture acquisition. International Journal of Contemporary Hospitality
Management.
Jain, S., Kashiramka, S. and Jain, P.K., 2018. Corporate strategies: Evidence from Indian cross-
border acquisitions. In Flexible strategies in VUCA markets (pp. 167-176). Springer,
Singapore.
Jiang, G.F., Holburn, G.L. and Beamish, P.W., 2018. Repeat market entries in the
internationalization process: The impact of investment motives and corporate
capabilities. Global Strategy Journal.
Khamaksorn, A., Tah, J.H. and Kurul, E., 2020. Knowledge Creation: A Case Study of
International Construction Joint Venture Projects in Thailand. International Journal of
Innovation, Management and Technology. 11(1).
Kumar, R., 2019. Research methodology: A step-by-step guide for beginners. Sage Publications
Limited.
Le Nguyen, H., Larimo, J. and Wang, Y., 2019. Control, innovation and international joint
venture performance: The moderating role of internal and external
environments. International Business Review. 28(6). p.101591.
López-Cózar-Navarro, C., Benito-Hernández, S. and Platero-Jaime, M., 2017. The influence of
cooperative relations on geographical expansion and diversification strategies in family
firms. International Business Review. 26(4). pp.764-773.
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Lynch, R. and Jin, Z., 2016. Knowledge and innovation in emerging market multinationals: The
expansion paradox. Journal of Business Research. 69(5). pp.1593-1597.
Macmillan, R. and Paine, A.E., 2018. Real time change: Reflections from qualitative
longitudinal research on voluntary action. Ten Years Below the Radar, p.56.
Mohajan, H.K., 2018. Qualitative research methodology in social sciences and related subjects.
Journal of Economic Development, Environment and People.7(1). pp.23-48.
Nippa, M. and Reuer, J.J., 2019. On the future of international joint venture research. Journal of
International Business Studies. 50(4). pp.555-597.
Pratono, A.H. and Ratih, R.V.S., 2019. International alliance strategies: a case study of the
Indonesian medical device industry. In Globalization and Development (pp. 381-400).
Springer, Cham.
Vargas-Hernández, J.G., Ioannis, A.I. and González-Armenta, L.E., 2017. Joint Venture
Efficiency through Skills Complementarity or by Reducing Transaction Costs?: A Case
Study of an Apparel Company in an Emerging Market. In Factors Affecting Firm
Competitiveness and Performance in the Modern Business World (pp. 162-190). IGI
Global.
Wiek, A. and Lang, D.J., 2016. Transformational sustainability research methodology. In
Sustainability science (pp. 31-41). Springer, Dordrecht.
Zakić, K. and Radišić, B., 2017. Strategies of Chinese Companies when Entering Global Market.
Varazdin Development and Entrepreneurship Agency; John Naisbitt University;
University North; Faculty of Management University of Warsaw.
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APPENDIX
Questionnaire
Questionnaire
Name:
Age:
Gender:
1. Do you understand the concept of international expansion through joint venture?
Yes
No
2. Are you aware of the fact that Happy is planning to diversify itself out of Bulgaria in UK?
Yes
No
3. What according to you is the best strategy for such international expansion of Happy?
Joint Venture
Opening their own stores
Franchisee or Licensing
Should not go for international expansion right now
4. How likely do you think Happy s going to succeed if it enters into joint venture with a UK’s
firm?
Extremely Likely
Likely
Neutral
Unlikely
Extremely Unlikely
5. Do you feel that the brand name of Happy will be threatened if they decide to go for joint
venture?
Yes
No
Most likely it will
No idea
6. What according to you would be the major challenge that Happy will face after joint venture?
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Cultural Inappropriateness
Threat to brand name
Increased risk of market exposure
Loss of Unique selling point
None
7. What would be the major benefits that Happy will be able to utilise after joint venture?
Established market share
Inside knowledge related to the customers
Reduced market risk
Greater revenue generation
8. Can you recommend any strategies or tactics that Happpy can adopt during its joint venture?
________________________________________________________________________
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