Emerging Market Research Challenges: MKT30015 Report - University

This report analyzes the challenges of conducting market research in the emerging market of the Philippines. It identifies and discusses three key challenges: cultural issues, political and legislative issues, and communication and technology difficulties. For each challenge, the report examines the associated decision-making risks, potential issues in obtaining accurate information, and their implications. Furthermore, it defines and analyzes various strategies to overcome these challenges, such as understanding cultural nuances, managing political and legislative uncertainties, and improving communication and technological capabilities. The report concludes by emphasizing the importance of addressing these challenges to make informed decisions and achieve success in the international business environment. The report also highlights the importance of understanding cultural differences, political stability, and technological advancements for effective market research and business operations.

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author note

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Executive Summary
The report has been helpful in understanding the different kinds of issues which are faced by the
businesses while entering in the emerging markets. In the current scenario, it has been noticed
that there are political instabilities as well as legislative instabilities which can be impacting the
prospects of the business in a negative manner. Moreover, from the analysis of the different
strategies, it can be concluded that it will be suitable for the growth of the business in a proper
manner.

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Table of Contents
Introduction......................................................................................................................................3
Risks/Pitfalls of Research in Emerging Market Philippines............................................................3
Cultural Issues.............................................................................................................................3
Analysis of Decision-Making Risks and Potential Issues Associated with Obtaining Accurate
and Reliable Information.............................................................................................................3
Implications of Issues Posed........................................................................................................4
Analysis and Defining of Strategies Used to Overcome Issues Posed........................................4
Political and Legislative Issues....................................................................................................5
Analysis of Decision-Making Risks and Potential Issues Associated with Obtaining Accurate
and Reliable Information.............................................................................................................5
Implications of Issues Posed........................................................................................................5
Analysis and Defining of Strategies Used to Overcome Issues Posed........................................6
Communication and Technology Difficulties.............................................................................7
Analysis of Decision-Making Risks and Potential Issues Associated with Obtaining Accurate
and Reliable Information.............................................................................................................7
Implications of Issues Posed........................................................................................................7
Analysis and Defining of Strategies Used to Overcome Issues Posed........................................7
Conclusion.......................................................................................................................................8
References......................................................................................................................................10

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Introduction
In the present scenario of the business environment, the emerging markets are helping the
entire global economy to grow through the robust growth as well as development which helps in
leading to the developing economies taking over those which are mainly considered to be
advanced. In addition, as commented by Zhang, Jiang and Noorderhaven (2019), the emerging
market economy helps in describing the economy of the nation which is mainly progressing
towards becoming highly advanced in nature through the usage of the industrialization and
growth.
However, in such scenarios, there are different challenges regarding political risks and
economic risks along with cultural differences which can be impacting performance of the
company as a whole. In the respective report, the main aim and purpose is related to the fact that
there will be discussion on the different risks and pitfalls in the process of decision-making. In
such scenario, the implications of the issues will be analyzed which will be helpful in
understanding the impact effectively. Lastly, strategies are required to be recommended which
will be capable of overcoming the respective risks successfully.

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Risks/Pitfalls of Research in Emerging Market Philippines
Cultural Issues
Analysis of Decision-Making Risks and Potential Issues Associated with Obtaining
Accurate and Reliable Information
While entering in the emerging market of Philippines, there are few major challenges in
which the most eminent one is the cultural issues. The cultural issues can be impacting the
decision-making patterns as the preferences of individuals in Philippines as the expectations of
the individuals can be different from the other country. In the Philippines market, the main
concern is regarding their performance in the business prospects as the people and investors refer
to be highly formal which can be impacting (Wilkins and Emik 2019).
Implications of Issues Posed
Due to the cultural differences in the emerging market of Philippines, the cultural
differences can be impacting the business negatively which includes the following:
Hierarchy in Company is the first aspect as the cultural norms can be dictating how the
attitudes towards the management officials in the company are being perceived (Todorov et al.
2018).
Differences in Styles Related to Negotiations is the other aspect which needs to be
analyzed that will be caused due to the issues posed by cultural issues which can be impacting
performance of the companies in the Philippines market. Most of the Asians have the tendency to
suppress their feelings and emotions and try to keep the things formal (Shirodkar and Konara
2017).

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Analysis and Defining of Strategies Used to Overcome Issues Posed
In order to reduce the cultural differences and barriers in the emerging markets and
become highly successful, there are different strategies which can be implemented are described
as follows:
Learning the culture of clients is the key element which needs to be implemented for
reducing the issues of cultural aspects. The analysis of the business practices as well as protocols
regarding the business practices which will be effective in improving the effectiveness of the
company while entering in Philippines market (Phala et al. 2019).
Be Accommodating is the other key strategy that can be used by the companies while
entering in the emerging economy as when there are different religious approaches or working
schedules, the respect provided to the same is highly necessary as it will be capable of improving
the prospects of the company in the international business (Mbalyohere and Lawton 2018).
Trying out New Things while travelling the emerging markets such as Philippines and
respecting the same will be effective for improving the business prospects in a proper manner
and gain competitiveness and generate the appreciation to try out the new things which are not
present in their home country (Lopez-Vega et al. 2018).
Political and Legislative Issues
Analysis of Decision-Making Risks and Potential Issues Associated with Obtaining
Accurate and Reliable Information
In the emerging economy, there are different kinds of potential issues and risks regarding
the political environment which is uncertain and unpredictable in nature. In case of Philippines,
there is moderate stability in the political environment and there are inclusion of high level of

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corruption (Lopez et al. 2018). In such scenario, the political environment can be unpredictable
and difficult to maneuver and there are cases, wherein the government tries to nationalize the
assets. It will be causing the different risks for the company to start their business due to the risks
related to failure.
Implications of Issues Posed
There are different kinds of risks posed due to the political and legislative issues which
can be impacting the business are described as follows:
Unclear title of the seller assets are the first aspect which can be impacting performance
of the company as a whole in the Philippines market as the lack of proper legal documentation
and the related third party transactions can be making it highly difficult for analyzing the legal
ownership of the different assets which are related to the target company (Herstein et al. 2017).
In addition, in the Philippines market, there are different levels of corruption which
impacts the performance of the company and it will be creating strong impact on the
performance of the businesses which are planning to settle in the respective market. It will be
hampering the revenue growth and profitability to a large extent and impacts the business in the
Philippines market in an inefficient manner (Falahat, Knight and Alon 2018).
Analysis and Defining of Strategies Used to Overcome Issues Posed
From the analysis of the different issues which are related to political and legislative
aspects and it will be creating pressure on the growth of the company. The inadequate corporate
governance as well as lack of enforcement of intellectual property can be impacting performance
of respective company in the emerging market of Philippines.

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Through the managing of the credit risk, it will be the first and foremost approach which
will be beneficial in ensuring that the supply chain can be suitable for withstanding the
unplanned disruptions successfully (Cui and Aulakh 2018).
The legislative issues can be controlled through the incorporation of the proper legal
documentations with the help of trustworthy investors can be beneficial in improving the
situation and improve the effectiveness of the political and legal issues in a suitable manner
(Arslan and Larimo 2017).
Communication and Technology Difficulties
Analysis of Decision-Making Risks and Potential Issues Associated with Obtaining
Accurate and Reliable Information
While entering in the emerging markets of Philippines, there are different decision-
making issues which are related to the communication and technological aspects which need to
be properly improved for improving the prospects of business. The potential causes include the
communication barriers as the people communicate in different languages in various countries
and it causes the language barriers. In addition, there can be lack of technological
implementation or high technological advancements which can be impacting performance of the
companies in emerging market and it will be creating ineffectiveness in the growth of the
company (Cui and Aulakh 2018).
Implications of Issues Posed
Due to the language barriers, there can be ineffectiveness in the business related dealings
and it will be impacting the growth of the company in a negative manner. Moreover, the high
level of technological innovation can be impacting the business prospects in a negative manner.

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In addition, the language barriers can lead to disengagement among the different
employees in the multinational teams. It will be creating further disturbances that will be
impacting the growth of the company to a large extent (Cui and Aulakh 2018).
Analysis and Defining of Strategies Used to Overcome Issues Posed
On the other hand, there are few strategies which can be implemented by the companies
for improving their performance successfully. The language diversity is the key aspect that is
needed to be implemented for improving the process of commencing the business. The
penetration of the language is the other key element that is needed to be implemented by the
companies for engaging themselves in the cross-lingual communication. The sophistication of
the language is the other critical element that needs to be implemented for the company for
improving the effectiveness and generating the growth prospects of the company as a whole.
Moreover, there are different technological alterations made which will be generating
success in the process of managing the effectiveness. The technological advancement training
and development can be implemented for managing growth and create high efficiency in
improving the prospects of the business (Cui and Aulakh 2018).
Therefore, from the analysis of the strategies, it can be seen that the communication is the
key element which needs to be implemented by the businesses for operating their business
successfully. In such scenario, the companies need to learn and understand the diversifications
that will be helpful for improving the effectiveness of the company as a whole.
Conclusion
Therefore, it can be concluded that while entering into the emerging economies or
markets, there are different kinds of decision-making issues which can be impacting the growth

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prospects of the business as a whole. In such scenario, there are different kinds of issues related
to the political instabilities, legislative insecurities along with technological barriers which can
be impacting the performance of the international business negatively. In such scenario, there are
different strategies that can be implemented while entering the emerging markets such as
knowing and understanding the different cultures from different countries as well as the different
other aspects which can be beneficial in improving the position of the companies and gain
competitiveness in the market as well. Moreover, considerations regarding the formats of
conducting meetings and other aspects need to be understood for making the business successful.
The successful integration of the business in the international business scenario is highly
essential which will be effective for making the entire venture successful.

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References
Arslan, A. and Larimo, J., 2017. Greenfield entry strategy of multinational Enterprises in the
emerging markets: Influences of institutional distance and international trade freedom. Journal of
East-West Business, 23(2), pp.140-170.
Cui, L. and Aulakh, P.S., 2018. Emerging Market Multinationals in Advanced Economies.
In The Oxford Handbook of Management in Emerging Markets.
Falahat, M., Knight, G. and Alon, I., 2018. Orientations and capabilities of born global firms
from emerging markets. International Marketing Review.
Herstein, R., Drori, N., Berger, R. and Barnes, B.R., 2017. Exploring the gap between policy and
practice in private branding strategy management in an emerging market. International
Marketing Review.
Lopez, H., Lakemond, N., Garnica, L.A. and Hashiba, L., 2018, June. Open Innovation in
Emerging Markets and New Capabilities Generation. In ISPIM Innovation Symposium (pp. 1-9).
The International Society for Professional Innovation Management (ISPIM).
Lopez-Vega, H., Lakemond, N., Garnica, L.A. and Hashiba, L., 2018. Open Innovation in
Emerging Markets and New Capabilities Generation. In ISPIM innovation conference, 17-20
June, 2018, Stockholm, Sweden. The International Society for Professional Innovation
Management (ISPIM).

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Mbalyohere, C. and Lawton, T.C., 2018. Engaging stakeholders through corporate political
activity: Insights from MNE nonmarket strategy in an emerging African market. Journal of
International Management, 24(4), pp.369-385.
Phala, M.L., Yasseen, Y., Padia, N. and Mohamed, W., 2019. A comparative study on strategy
disclosure between emerging markets and developed markets. Journal of Indian Business
Research.
Shirodkar, V. and Konara, P., 2017. Institutional distance and foreign subsidiary performance in
emerging markets: Moderating effects of ownership strategy and host-country
experience. Management International Review, 57(2), pp.179-207.
Todorov, K., Akbar, Y.H., Todorov, K. and Akbar, Y.H., 2018. Strategy for the Emerging
MarketsDesigners Project: Afrotouch Brands☆ Case Study: Inchcape plc.-Part 1', Strategic
Management in Emerging Markets.
Wilkins, S. and Emik, S., 2019, July. Firm Strategy in Authoritarian Emerging Markets
(WITHDRAWN). In Academy of Management Proceedings (Vol. 2019, No. 1, p. 12312).
Briarcliff Manor, NY 10510: Academy of Management.
Zhang, J., Jiang, J. and Noorderhaven, N., 2019. Is certification an effective legitimacy strategy
for foreign firms in emerging markets?. International Business Review, 28(2), pp.252-267.