Research Project Assignment - Strategies of Business to Enter Emerging Market
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Added on 2020-10-05
Research Project Assignment - Strategies of Business to Enter Emerging Market
Added on 2020-10-05
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Table of ContentsTITLE:“The different strategies employed by businesses to enter emerging markets.” A casestudy on Morison’s..........................................................................................................................1CHAPTER 1 : INTRODUCTION...................................................................................................11.1 Overview of research........................................................................................................11.2 Background of research....................................................................................................11.3 Rationale of research........................................................................................................11.4 Research aim and objectives............................................................................................21.5 Research questions...........................................................................................................2CHAPTER 2: LITERATURE REVIEW.........................................................................................32.1 Concept of globalisation...................................................................................................32.2 Various strategies that could be employed by Morrison to enter in emerging markets...32.3 Barriers faced by Morrison while entering or operating in new market..........................42.4 Relationship between globalisation and business success................................................5CHAPTER 3: RESEARCH METHODOLOGY.............................................................................73.1 Introduction......................................................................................................................73.2 Research philosophy.........................................................................................................73.3 Research approach............................................................................................................73.4 Research method..............................................................................................................73.5 Data collection methods...................................................................................................83.6 Sampling...........................................................................................................................83.7 Time scale.........................................................................................................................9CHAPTER 4 : FINDINGS............................................................................................................104.1 Data collection................................................................................................................104.2 Data analysis...................................................................................................................11CHAPTER 5: DISCUSSION.........................................................................................................245.1 Findings to Stakeholders................................................................................................24
REFLECTION & RECOMMENDATION FOR ALTERNATIVE RESEARCHMETHODOLOGY........................................................................................................................26Reflection.............................................................................................................................26Alternative Research Methodology......................................................................................26CONCLUSION....................................................................................................................26REFERENCES..............................................................................................................................28
TITLE:“The different strategies employed by businesses to enter emergingmarkets.” A case study on Morison’s.CHAPTER 1 : INTRODUCTION 1.1 Overview of researchGlobalisation is the process of interaction and integration among people, organisations,industries, political parties, etc. from one country to different country. In order to work indifferent countries, there is requirement of different aspects which are significant and relevant incontext of changes taking place in external market (Hirst, Thompson and Bromley, 2015). Inorder to successful conduct business operations at international level, it is essential to analysemarket trends, consumer demand, etc. and then taking actions accordingly. There is positiveimpact of change in plans and policies which is relevant and significant to understand plans andpolicies in significant and relevant manner. This research is based on Morison’s which is fourthlargest super market chain in UK. It have headquarter in Bradford, West Yorkshire, EnglandUK. 1.2 Background of researchIn this study, there is discussion about different startegies through which there usdiscussion about policies through which organisation can enter in emerging market. These days,organisations expand their business by entering in emerging market. Morison’s is theorganisation which has around 498 stores in UK till 2016 and they are expanding in differentcountries as well (Docquier and Rapoport, 2012) There are different countries having developingeconomy, so there is scope of growth for Morison’s. It is responsibility of managers tounderstand what is trend and then plan actions. 1.3 Rationale of researchRational behind conducting this research is this topic is vast and assist companies toexpand in market. It is easy to expand knowledge about emerging market because people haveknowledge about. In case researcher wants to expand business in emerging market, thenstrategies which givers positive impact can be learned (Papastergiadis, 2018). Apart from thisinvestigator has interest to know strategies framed at global level to operate business1
successfully, reader is able to learn barriers which arise while operating in developing countriesand corrective measures to deal with it. 1.4 Research aim and objectivesResearch aim- To identify the different strategies employed by businesses to enter emerging markets. Astudy on Morison’s.Research objectives1.To study the concept of globalisation2.To identify various strategies that could be employed by Morison’s to enter in emergingmarkets.3.To examine various barriers faced by Morrison while entering or operating in newmarket.4.To study the relationship between globalisation and business success.1.5 Research questions1.What is the concept of globalisation?2.What are the various strategies that could be employed by Morison’s to enter in emergingmarkets?3.What are the various barriers faced by enterprises while entering or operating in newmarket?4.What is the relationship between globalisation and business success?2
CHAPTER 2: LITERATURE REVIEW2.1 Concept of globalisationGlobalisation is the terminology which describes social, economic and governmentinteraction and interrelation among people from different geographical region (Docquier andRapoport, 2012). With globalisation of operations, there are some aspects which has to beconsidered such as change in political parties, legal aspects, etc. For entering in developingcountry, it is important to understand economic policies so they can plan financial status, sourcesof funds, etc. accordingly. According to Crystal Ayres (2019) there are some advantages as wellas disadvantages of globalisation which has to be kept in mind. Some advantages includes-Pooling of resources- With working at international level, there is availability of moreresources through which working efficiency of organisation gets improved. At internationallevel, there are many competitors so it is important to maintain quality of services with optimaluse of resources. Improves communication techniques- There is requirement of proper communicationthrough which operations will be done in effective and manner. There will use of online sources,internet connection to share and gather information, etc. This is the base through whichinformation, ideas can be shared among management of Morrison. Apart from above discussed advantages, there are some disadvantages as well such asReduction in social safety, New system of politics which affects successful implementation ofglobalisation policies (Cetorelli and Goldberg, 2012). Managers of Morrison have to understandmeasures through which they can plan it. 2.2 Various strategies that could be employed by Morrison to enter in emerging marketsFor establishing business in emerging market, managers of Morrison have to understandchanges which are taking place in external market. According to Sarah Boumphrey (2019), thereis difference in working style of organisations as per change in geographical region, so in thiscase it is essential to understand it and then implement properly. There are some strategies whichassist in entering in new market such as-Selecting best mode for entering in market- There is requirement of some specific modethrough which entry in new market is easy and feasible (Evans, 2012). There are different waysfor entering in market such as licensing, partnership, joint venture, etc. These are the ways3
through which knowledge about market can be collected. Managers of Morrison have to selectbest way to enter in new and emerging market. Create desirability- It is important to create desirability for product and services. This ispossible with the help planning for marketing in better and effective manner (Martinez‐Fernandez and et. al., 2012). Marketing is the technique through communication about productand services is provided to consumers. When marketing activities are attractive, then consumersare aware about products and services and there are ready avail services. 2.3 Barriers faced by Morrison while entering or operating in new marketAccording to the perception of Louie Ali (2014), it has been identified that when a companyseeks to expand its business in international market, then it has faced a number of barriers. Itincludes culture or language barriers, non-tariff barriers to trade, supply chain risks, operationalrisks related to recruitment and more. In context with Morison’s, as it is considered as the fourth largest chain within a supermarket. In order to gain high competitive advantage, this firm wantsto expand its business into emerging market area of Brazil, Korea, China and more. Here,globalisation provides various opportunities to this company in reaching targeted audience, getraw materials on cheap price, supply commodities and more (Costinot and Rodríguez-Clare,2014). But apart from various benefits, some factors that may create barriers in front of Morrionsare described as below:- Local competition: It refers to be the most common barrier that every company facewhile expanding its business in international market. In this regard, Morison’s also face the sameproblem, where host companies of Brazil, China and other market are gained advantage to gainloyalty of customers. As domestic companies know much better about taste and preference oftheir targeted customers (Gubler, 2012). Therefore, Morison’s have to build effective strategiesto sale its products into new area, by conducting a proper market research to identify the demandof local customers. This would help in expanding business more effectively. Language and cultural barriers: Nations are generally distinct on the basis of culture,language and way of living standard of people. Therefore, international companies who launchbusiness across the nations have faced a large number of issues related to linguistic and cultureissues. For this purpose, to face the realities Morison’s need to adapt new environment andrestructure business policies as well as strong go-to-strategy as per local culture. This would helpin reducing the impact of linguistic issues and cultural barriers more effectively. 4
Supply chain risk: Imports, exports, trading, shipping as well as logistics are allconsidered as main activities that large organisations have departments dedicated to. In thisregard, developing an effective supply chain and managing the same which crosses territorialboundaries would be a real challenge for international companies. Therefore, Morison’s need todevelop a better strategy, an appropriate business plan and a proper budget to maintain its supplychain process while running business at global level. Bribery and corruption- This is the major issue which is faced by Morrison whileoperating at international level. Business expansion in international market is possible with thehelp of different parties such as government, legal regularities, etc. Due to excessive corruptionsometimes there is issue in conducting operations. Due to corruption, there is requirement offunds to give bribe which is ethically and financially inappropriate as per ode of conduct ofMorrisons. Supply chain risk- There is risk of proper supply chain management in order tosuccessfully implementation of business operations. There is requirement of some raw materialso it is essential to have regular supply. So in this case sometimes, managers of Morrisons faceissue in getting regular supplies. Cost such as holding cost, maintaining cost, ordering cost, etc.of supplies has to be maintained so supply chain does not get halted. Finding Reliable Partners- There is requirement of partner for entering in new countryas mode of entry such as partnership, joint venture, strategic alliance, etc. there are possibilitiesthat Morrisons are not working able to find best partner with whom they can perform operationsin better and effective manner. If proper partner is not available then there is issue in knowingculture, demand of consumers which affects sustainability in new market. 2.4 Relationship between globalisation and business successThrough perception of Cavusgil and Knight (2015), it has been evaluated that the new globaleconomy of today’s 21st century has completely transformed the social, economic and politicallandscape in an indelible and profound manner. Therefore, global economy is also known ascomposition of interactive forces’ trilogy. It includes globalization, ICT (InformationTechnology and Communications) revolution and trade liberalization. Here, concept ofglobalization helps in melting the territorial borders, creating free trade which aid to enhanceeconomic integration and more. While, ICT revolution helps in making connection betweencountries and their targeted audience. Similarly, organisations define specific rules of5
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