International Market Entry Strategies: A Joint Venture Analysis

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Unit 6: Managing a Successful Business Project
“Risks and benefits of a joint business venture to enter international markets”
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Table of Contents
Part 1................................................................................................................................................3
A brief explanation of your proposed research topic and why you have chosen it.....................3
An aim and some objectives for your proposed research............................................................3
A brief discussion of the scope and limitations of your proposed research................................3
Resources and cost considerations relating to your proposed research.......................................4
A project plan, Gantt chart or work breakdown structure in order to provide timeframes and
stages for completion of your research........................................................................................6
Risks register covering the five main risks with the proposed research, including the size of
each risk, planned mitigation measures and residual risk............................................................8
Reference List................................................................................................................................10
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Part 1
A brief explanation of your proposed research topic and why you have chosen it
Joint venture can be termed as a commercial enterprise that is established by either two or more
than two parties. The joint venture has characteristics like by shared returns, joint risks, mutual
governance, and shared ownership. The topic has been chosen because in the present scenario
joint ventures are used by several organisations in order to enter a new market at international
locations (Killing, 2017). However, several advantages and disadvantages are associated with the
joint ventures that are required to be figured out so that the organisations can work effectively
and can conquer the threats that are caused by joint business ventures. The joint venture between
Marks and Spencer with Ocado has been considered to investigate the selected topic so that the
benefits and risks caused by the joint ventures, can be identified aptly. The forces that drove the
organisations to use joint venture have been identified in the research project (Connelly et al.,
2018).
An aim and some objectives for your proposed research
Aim of the project
The research project is aimed to figure out the challenges as well as benefits of a joint venture
that are adopted by the organisations to make an entry into the international market, stimulated
by globalisation with respect to Marks & Spencer (M&S) and Ocado.
Objectives of the research
The objectives of the thesis that has been conducted have been listed as follows:
 To figure out the forces that drive organisations to adopt joint business ventures.
 To find out the risks and benefits that are associated with joint business ventures
 To identify the positive and negative consequences faced by Ocado and M&S after indulging
in a joint venture
 To make recommendations so that Ocado and M&S can tackle the negative effects that joint
venture had, on their operation
A brief discussion of the scope and limitations of your proposed research
Project Scope
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The investigation’s scope has been segregated into two categories as described below:
Included Scope
The investigation has been done with respect to the organisations based in the UK that have
adopted the method to enter the international market so that the risks or challenges associated
with it can be identified along with the recognition of the benefits that joint ventures have. The
research also focuses on the forces that drive the organisations to adopt the joint venture method.
Excluded Scope
The investigation has been conducted taking into consideration the organisations based in the Uk
so that the objectives of the research can be met. However, the project only covers the effect of
the joint venture on the organisations in the retail industry that are based in the UK. Thus, the
investigation does not consider the organisations in other sectors or industry and the retail
organisations that are present in other countries pertaining to the challenges and benefits of joint
ventures.
Limitations of the research
The budget and the time that was allocated for conducting the research was constrained that
restrained the research team from conducting in-depth analysis of the topic that has been chosen
for exploration. The data or information that the managers of the organisation shared cannot be
stated to be totally apt because at several points of time it was observed that the managers of the
organisation were not interested to share complete information or ignored the questions perhaps
due to the policies of the organisation.
Resources and cost considerations relating to your proposed research.
Cost and time analysis
Activities Time Cost per hour Total (in pounds)
Development of aims and objectives 2 11 22
Developing questions for interviews 10 5 50
Gather technical support 10 10 100
Stationeries, printers, internet 15 20 300
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Assessment of data collected 4 5 20
Submission 2 2 4
Total 496 pounds
Table 1: The project cost analysis of the project
(Source: Created by the researcher)
Communication plan
What Who When Why How
Communication is
significant so that
data can be
transferred
effectively
(Habermas, 2015)
The marketing
head of M&S will
be interviewed
who works in
collaboration with
Ocado.
When primary
research data will
be collected, the
marketing head
will be
interviewed.
To find out the
forces or factors
that stimulated
M&S to
collaborate with
Ocado.
Face to
face
meeting
or Skype
Calls
Communication is
important for various
activities to take
place cooperatively
(McNair, 2017).
The marketing
manager of M&S
will be
interrogated who is
managing the
venture with
Ocado.
While collecting
primary research
data the
marketing
manager will be
interrogated.
To find out the
risks and benefits
that M&S faces
after the
collaboration.
Face to
face
meeting
or Skype
Calls
Table 2: Communication Plan
(Source: Created by the researcher)
Resource management
The resources required for conducting the investigation are as follows:
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Materials: Resources like Stationeries, printers, internet, etc will be required to conduct the
thesis.
Human resource: Manpower will be required to investigate the topic properly so that proper
data can be gathered and presented.
Budget: A budget of 496 pounds will be required to conduct the investigation on the chosen
topic.
Quality management
Role Responsibility of Quality
Project
Manager
The person will be required to see the overall operation of the project so that its
objectives are met.
Team Leader The person will be required to scrutinise the performance of the team members
individually.
Table 3: Quality Management Plan
(Source: Created by the researcher)
A project plan, Gantt chart or work breakdown structure in order to provide timeframes
and stages for completion of your research.
Name of Activity Start date Duration End Date
Initialising the Project 8/8/2019 11 8/19/2019
Check resource availability 8/8/2019 3 8/11/2019
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Conduct interviews 8/11/2019 4 8/15/2019
Scrutinise the data 8/15/2019 5 8/20/2019
Enhance the thesis 8/20/2019 20 9/9/2019
Gather secondary data 8/20/2019 8 8/28/2019
Shorten the data 8/28/2019 6 9/3/2019
Scrutinise the data 9/3/2019 6 9/9/2019
Project Completion 9/9/2019 11 9/20/2019
Conclude the investigation 9/9/2019 4 9/13/2019
Present the investigation 9/13/2019 3 9/16/2019
Submit the investigation 9/16/2019 4 9/20/2019
Table 4: Work Breakdown Structure
(Source: Created by the researcher)
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Figure 1: Work Breakdown Structure
(Source: Created by the researcher)
Risks register covering the five main risks with the proposed research, including the size of
each risk, planned mitigation measures and residual risk.
Risks Risk
Size
Reduction measures Residual risk
Communication
error
Huge Use online channels of
communication
Technical errors in online
communication channel
Invalid data Medium Analyse the data Error in outcomes
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Ethics Small Follow ethical policies N/A
Research team Medium Select quality members Unavailability of quality
members
Conflicts Small Clear the misunderstandings Egoistic issues among the
members
Table 5: Risk register
(Source: Created by the researcher)
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Reference List
Connelly, B.L., Shi, W., Hoskisson, R.E. and Koka, B.R., 2018. Shareholder influence on joint
venture exploration. Journal of Management, p.0149206318779128.
Habermas, J., 2015. Communication and the Evolution of Society. John Wiley & Sons.
Killing, J.P., 2017. How to make a global joint venture work. In International Business (pp. 321-
328). Routledge.
McNair, B., 2017. An introduction to political communication. Routledge.
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