Business Project: Joint Ventures and International Market Penetration

Desklib provides past papers and solved assignments for students. This project analyzes joint ventures for international market entry.

MANAGING A SUCCESSFUL BUSINESS PROJECT

Executive summary
The research project has been undertaken to understand the effects of the joint ventures and their
impact on the features of the business operations. The research topic re4volves around the
concept of understanding the success the business would reflect on the factions of penetrating the
international market. This could be highlighted thorough the implementation of conducting the
surveys and the interviews. The research results reflects on the outcomes of the greater
understanding of the mangers about the joint ventures and its efficacies it could have on
generating high amount of revenues through the strategic alliances of the local company in the
concerned market.

Table of Contents
Task 1...............................................................................................................................................4
Task 2...............................................................................................................................................9
Chapter 1: Introduction................................................................................................................9
Chapter 2: Literature review......................................................................................................10
Chapter 3: Research Methodology............................................................................................13
Chapter 4: Results......................................................................................................................15
Chapter 5: Conclusion and Recommendations..........................................................................25
Chapter 6: Reflections...............................................................................................................26
References......................................................................................................................................27

Task 1
1. A brief explanation of the proposed topic and why you have chosen it
Project Definition
The aspects of the joint ventures are one of the major market entry strategies that is used by the
organisation across the world to reap the benefits of the assertive market opportunities. The
companies, which would aspire to enter any foreign market info graphic, have to face challenges
in the aspect of gaining knowledge of local political system and economical influences (Yan and
Luo, 2016). This will help the organisation to undertake the activities of entering the foreign
market and assigning the market share in the concerned market with the features of higher
chances of revenues. The project has been defined on the inclinations of providing substantial
data and information on the lines of the benefits and the disadvantages of the joint ventures in the
international market.
2. An aim and some objectives for your proposed research
Aim
Aim of this research work is to identify opportunity and challenges of joint venturing for Tey’s
Australia in context of UK.
Objective
 To identify different aspects of Joint Venture of Tey’s Australia
 To analyse positive aspects of joint venture business
 To evaluate challenges of joint venture business that can harm Tey’s Australia
 To introduce mitigating factors for joint venture challenges
3. A brief discussion of the scope and limitations of the project
Project Scope

The scopes of the research will be based on the qualitative and quantitative research. The
qualitative research will be performed on the rationales of qualitative analysis of the mangers and
the survey will be conducted through the means of surveys.
Project Limitation
The aspect of the time limitation plays a major role in hindering the activities of the project
research.
4. Resources and cost considerations
Activities Time (hours) Cost Per Hour (£) Total cost (£)
Identifying the
assertive resources
that would propagate
the project
25 15 375
Proper allocation of
the research inputs on
the operations.
20 5 100
Acquiring knowledge
through the primary
data collection
22 12 264
Information
assessment of the data
through the research
28 18 504
Creating the
documentation
process of the
Standardization of
Procedure
12 5 60
Evaluating the growth
and the progress of
the research
12 15 180

Total 1363
Table 1: Cost analysis
(Source: Created by the learner)
Monitoring and Evaluation control of the project
Activities Examination of activities
Selection of Theme Managed by the Project Manager
Identifying the objective Managed by the project manager and
other managerial heads
Literature review Managed by the project supervisor
Explaining the research method. Managed by the technical supervisor
Analyzing the information gathered. Managed by the project manager
Recommending solutions Managed by the project coordinator
Table 2: Monitoring Plan
(Source: Created by the learner)
5. A Gantt chart or work breakdown structure in order to provide timeframes and stages
for completion
Activity Start Date Duration End Date
Instigating of the
project
2/2/2019 15 2/17/2019
Implementation the
objective
2/17/2019 3 2/20/2019
Recognising the theme 2/20/2019 4 2/24/2019
Highlighting the scope
of the research
2/24/2019 3 2/27/2019
Allocating finances of
budget
2/27/2019 5 3/4/2019
Developing the
research objectives
3/4/2019 10 3/14/2019

Interacting with the
managers and project
members
3/14/2019 3 3/17/2019
Creating the
questionnaire that
reflects the impact of
the respondents
3/17/2019 4 3/21/2019
Making the Risk
Management Log
3/21/2019 3 3/24/2019
Explaining the
research methodology
3/24/2019 18 4/11/2019
Induction of the
appropriate research
methodologies
4/11/2019 6 4/17/2019
Asserting an estimation
of the interviewing
process
4/17/2019 6 4/23/2019
Information analysis 4/23/2019 20 5/13/2019
Interview Analysis 5/13/2019 10 5/23/2019
Survey Analysis 5/23/2019 10 6/2/2019
Indcuting the
recommendations
6/2/2019 10 6/12/2019
Documentation of the
research
6/12/2019 5 6/17/2019
Table 3: Work Breakdown Structure
(Source: Created by the learner)

Instigating of the project
Implementation the objective
Recognising the theme
Highlighting the scope of the research
Allocating finances of budget
Developing the research objectives
Interacting with the managers and project members
Creating the questionnaire that reflects the impact of the
respondents
Making the Risk Management Log
Explaining the research methodology
Induction of the appropriate research methodologies
Asserting an estimation of the interviewing process
Information analysis
Interview Analysis
Survey Analysis
Processing the recommendations
Documentation of the research
2/2 3/24 5/13 7/2
Figure: Gantt chart
(Source: Created by the learner)
6. A risk registers covering the main risks with the proposed research
Risk
description
Risk
impact
Probability
of
occurrence
Project impact Consequence Risk owner
The
unavailability
of the finances
and the time
schedules to
acquire
information
High Low Premature
ending of the
research
The project has to
be finished with
disregard to
adhering to the
inappropriate
outcomes
Project
Manager

The problems
and the
predicaments of
the technical
databases and
the storage of
information
High Medium The aspect of
the project
would incline
to the progress
of the project
for a longer
time, adding up
to financial
expenses.
The improper
fixation of the data
storages as the
means of Database
Management
systems could
provide as
potential security
threat
Project
Manager
The interaction
of the
employees and
the circumspect
of
vulnerabilities
cropping up
Medium Low Inadequate
alignment to
the project
objectives
Inconsequentia
l alignment to
the project
aims
The inappropriate
means of
misleading rhe
project results
Project
Manager
Absence of
substantial
responses
High Low The project
may run behind
the project
milestones
The quality of the
project gets
adversely affected.
Project
Manager
Table 4: Risk Assessment
(Source: Created by the learner)

Task 2
Chapter 1: Introduction
In the words of Giddens (2018), the term globalisation identifies the process through which the
organisations plan to enter the global market and plan to operate in an international scale. In a
nutshell, globalisation refers to the conglomeration of the steps that are identified in the process
of entering the global market and ensuring that the organisations enjoy suitable amount of profit
in the market. This is particularly the interaction of a particular economy with the world
economy. It refers to the process of bringing together two or more economies towards the
achievement of a common goal. There are a number of advantages, which are obtained from the
impacts of globalisation, and this makes it one of the most sought after concepts in case of
entering the new market. The main concept of globalisation lies in the fact how to connect with
the different people and the industries and thus contribute towards the achievement of a common
goal.
Globalisation has actually taken over the global market in an extensive manner. There are
actually a number of benefits as well as advantages, which are associated with globalisation. In
the words of Beck (2018), globalisation enhances the employment opportunities and in most of
the cases, it enhances the educational level of the place. Some have even pointed out towards the
overall development of the place as well as the quick flow of information in that particular place.
The above factors have however been contradicted by Steger (2017), who pointed out that
towards the environmental degradation of the place that occurs due to this. This is indeed true as
there have been instances when the excess of globalisation in this particular place have actually
degraded the natural resources of the place. It has also been identified that in cases, that though
there is a common belief that globalisation enhances the employment level, but there have been
instances where globalisation have reduced the employment growth of the place and have even
widened the gap among the poor and the rich in the society.
One of the common methods through which the globalisation occurs is joint venture. Most of the
organisations prefer joint ventures to the others owing to the advantages that are obtained from it.
Along with all of the other advantages, this type of ventures usually brings with it a lot of

financial stability and it helps the organisation in gaining some sort of advantage in the market
(Hay and Marsh, 2016). However, just like, there are two sides of the same coin; there are also a
number of disadvantages, which are associated with it. For considering all of these, the case
study of Tey’s Australia have been considered. The organisation is an example of one of the
leading meat processing plants operating in Queens land Australia.
With an aim of enhancing the customer base and enhancing the profit generations in the market,
the organisation is now planning to enter the UK Market. It has been estimated that as part of the
market entry strategies, the organisation has chosen the joint venture process. The current report
will consider the different benefits as well as the disadvantages that are associated with the
overall process of this particular venture. The report will also provide a proper literature review
section that will concentrate on identifying the advantages and the disadvantages related to the
joint ventures. A proper literature review and methodology will also be included in the final
sections of the project. The different other relevant data and statistics will also be included in the
below sections (Burns , 2017).
Chapter 2: Literature review
Joint ventures
In the words of Baylis et al.(2017), the term joint ventures identifies the process through which
come together in a common platform for achieving some of the common benefits. The aspects of
the joint ventures revolve around the concepts of the establishment of the organisation that deals
on the ownership ventures of joint entites in the form of two or more organisation that reaps the
benefits together and incur the loss as well. The most number of joint ventures often
demonstrates on equal partnership, this involves the participation of two identities that often
transcend on the activities of holding fifty percent of the ownership stake and develops a team of
managers that contribute to the shares of operating control.
Advantages of joint ventures
The advents of the joint ventures are mainly taken up by the SME in order to penetrate the
markets of the international info graphics. The foreign institutions favour to form alliances in the
form of joint ventures provides with the features of mutual benefits as the domestic companies
reap with the benefits of bringing new technologies and business policies. The domestic

company would reap the benefits of asserting the presence of the political relations and the
familiarity of the governmental frameworks within the concerned market demography. As the
organisation delves in the activities of performing the business in the international market for the
first time, the business finds it difficult to understand the market statistics and info graphics
(Caiazza et al.,2015).
The firm could use the local knowledge, that the organisation would have in order to alleviate the
business sales of the foreign companies and they could benefit by forming the strategic alliances.
The foreign companies, vying their trades in the developing economies often come across
situations where they find in political isolation because, previously the company had performed
their business in the developed economies where the impact of the political implications are few
(Pieterse , 2015). This in turn hinders their acquisition of raw materials form the local suppliers
due to the influences of the political personality. The development of joint ventures with the
local company that recognises the prevailing political system helps the foreign organisation to
penetrate the market. The problems relaying on this premises is inclined to the situations faced
by JCB with its entry to India.
Disadvantages of joint ventures
As every rose have, their own thorns- there are also a number of disadvantages that are related
towards considering joint ventures as the market entry strategy. While some of the basic
disadvantages that are related to globalisation have already been highlighted in the previous
sections (introduction section), further discussions on the risks of joint ventures will be
conducted in this section. Some of the significant and noteworthy disadvantages of joint ventures
have been included and discussed in the below sections
Unclear objectives- In the words of Schmukler and Abraham (2017), it has been identified that
in most of the cases, the objectives of joint ventures are not at all. There have been a number of
instances where unclear objectives in the venture have actually resulted in the disastrous failure
of the entire venture.
Restricted flexibility- It has been identified that the restricted flexibility of the decisions
regarding every small and basic concept often turns out to be a vital factor in ensuring the
success of the joint venture. It needs to be mentioned in this regard flexibility is one of the