Market Entry Strategy: Evaluating Joint Venture for Origins in India

Desklib provides past papers and solved assignments. This project analyzes joint venture risks and benefits for market entry.

Managing a Successful Business Project
Ascertaining the risks as well as benefits of a joint business venture to enter the Indian market with
references to Origins

Table of Contents
TASK 1- RESEARCH PROPOSAL.......................................................................................................2
1.1 INTRODUCTION/BACKGROUND TO THE RESEARCH.............................................................2
1.2 AIMS AND OBJECTIVES OF THE RESEARCH...........................................................................3
1.3 SCOPE AND LIMITATION OF THE RESEARCH PROJECT.........................................................4
1.4 RESOURCES AND COST CONSIDERATIONS...........................................................................5
1.5 GANTT CHART...................................................................................................................... 6
1.6 RISKS REGISTER....................................................................................................................7
REFERENCES...................................................................................................................................9
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TASK 1- RESEARCH PROPOSAL
1.1 INTRODUCTION/BACKGROUND TO THE RESEARCH
Globalisation and free trade between national borders provide the opportunities for the
business to cater new market however it also increased the competition among the companies
and look for new ways to remain competitive (Saha and Chattopadhyay, 2015). Among different
market entry modes, A joint venture is one of the common business arrangements in which two
or more organizations agree to combine their resources and expertise to attain a common
objective. The organization uses joint venture to enter into the market as it creates synergies,
also shares the risks, resources and rewards and provide flexibility both the organizations
(Zhang et l., 2016).
There are various benefits whereas some of the risks associated in using joint ventures as entry
mode for the organization in the international market. Origins deliver high quality and high-
performance beauty products to domestic and international markets to cater to its customers
(Hitt et al., 2016). In order to enter a new market such as India, the company needs to
investigate the opportunities for offering its beauty products in Indian market. Thus the
rationale for conducting this research is to ascertain the risks, as well as benefits of using joint
business venture, are entry mode to enter the Indian market by Origins.
2

1.2 AIMS AND OBJECTIVES OF THE RESEARCH
This research project aims to ascertain the risks as well as benefits of a joint business venture to
enter the Indian market with references to Origins. The research objectives are:
1. To discover the role and use of joint business venture as market entry mode through a
review of the literature
2. To ascertain the use of joint business venture by Origins for entering in Indian market
3. To determine the risks associated with using joint venture by Origins
4. To identify the benefits related to using join venture by Origins.
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1.3 SCOPE AND LIMITATION OF THE RESEARCH PROJECT
The scope of the research comprises both included and excluded scope. Quantitative research
will be used in this research to meet the research aims and objectives. Also, it includes the use
of both primary and secondary sources to get a more reliable outcome through secondary
sources and also from carrying out primary research (Zhang et al, 2016). The unbiased approach
will be selected to conduct the research for getting a reliable and valid outcome. A systematic
questionnaire will be prepared in order to distribute it online and ascertain the risks and
benefits linked with using joint business venture as an entry mode for entry in India.
One of the major exclusion is that the research findings and outcome will not reflect the entry
mode by Origins in India. Also, this research is not specific to any geographical location in India.
This research excludes the study on other market entry modes to enter an international
market. This research fulfils academic purpose instead of commercial purpose (Kumar, 2019).
One of the major constraints for the result is limited availability of time to conduct the
research. Also, the project budget is another limiting factor. The reliability and validity of the
research are limited by the attributes such as volatile responses of the participants. The
effectiveness of the research can also be impacted by a lack of knowledge regarding the use of
data collection and analysis tools and techniques (Hollender et al., 2017). Also, the research
effectiveness is impacted by the inadequacy and restricted information collected through
questionnaire.
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1.4 RESOURCES AND COST CONSIDERATIONS
Human, financial as well as physical resources are used in the research to meet the research
aims and objectives. Guidance and direction from the experts and supervisor are sought in
order to carry out the research in an effective manner. Support staff is required to carry out an
online survey effectively and collect the quality data for the research. Online survey
applications and Ms-excel will be used to collect and analyse the data in order to meet the
research aims and objectives (Quinlan et al., 2019). Physical resources such as computer
hardware, software, IT networks and other stationery materials will be used to successfully
complete the research project. The estimated budget will be prepared to manage the cost for
the tools and techniques used to accomplish the activities of the research.
COST CONSIDERATIONS
Particulars Projected Budget (in
£)
Actual Budget (in
£)
Human resources £100 £113
Refreshment to staff £55 £62
Computer hardware, IT networks £150 £156
Stationery resources £45 £39
Vouchers to the online participants £50 £100
Other administrative costs £80 £95
Total £480 £565
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1.5 GANTT CHART
Activities Week
1
Week
2
Week
3
Week
4
Wee
k 5
Week
6
Week
7
Week
8
Research
proposal
development
conducting the
literature review
formulation of
research
methodology
Primary data
collection
Primary data
analysis
Result, conclusion
and
recommendation
s
Reflection and
final research
report
6

1.6 RISKS REGISTER
I
d
Curr
ent
statu
s
Occurr
ence
proba
bility
Risk
impact
Risk
descrip
tion
Proj
ect
impa
ct
conseque
nces
Risk
respo
nse
strate
gy
Continge
ncy plan
Respo
nse
strate
gy
1 Open Mediu
m
Low Inapt
access
for data
collectio
n,
technical
issues
(Liu et
al.,
2016)
Limit
s
scop
e
achie
veme
nt
Failure in
using
suitable IT
system and
tool
Justific
ation
Digital
tools to
collect
data
Ensure
backup
facilitie
s’
availabi
lity
2 Open Low Mediu
m
Inadequ
ate or
limited
informa
tion
impact
the
research
effective
ness
Impa
ct on
resea
rch
qualit
y and
time
Impact on
quality and
accuracy of
data
collected
Justific
ation
Increase
the scope
of the
project
Develo
p
toleran
ce level
and
enhanc
e
additio
nal
respon
ses
3 Open Low high Time
and
Hind
er
Delay in
research
Justific
ation
- Time
and
7

budget
affected
by
unfamili
ar
technolo
gy use or
research
method
ology
the
meeti
ng of
aims
and
objec
tives
findings
and
outcome
(Liu et al.,
2016)
patienc
e to
carry
the
researc
h
8

REFERENCES
1. Hitt, M.A., Li, D. and Xu, K., 2016. International strategy: From local to global and
beyond. Journal of World Business, 51(1), pp.58-73.
2. Hollender, L., Zapkau, F.B. and Schwens, C., 2017. SME foreign market entry mode
choice and foreign venture performance: The moderating effect of international
experience and product adaptation. International Business Review, 26(2), pp.250-263.
3. Kumar, R., 2019. Research methodology: A step-by-step guide for beginners. Sage
Publications Limited.
4. Liu, J., Zhao, X. and Yan, P., 2016. Risk paths in international construction projects: Case
study from Chinese contractors. Journal of Construction Engineering and Management,
142(6), p.05016002.
5. Quinlan, C., Babin, B., Carr, J. and Griffin, M., 2019. Business research methods. South
Western Cengage.
6. Saha, A. and Chattopadhyay, U., 2015. The impact of international joint venture on local
economy: A case study of hero honda. South Asian Journal of Business and Management
Cases, 4(1), pp.14-26.
7. Zhang, X., Ma, X., Wang, Y., Li, X. and Huo, D., 2016. What drives the internationalization
of Chinese SMEs? The joint effects of international entrepreneurship characteristics,
network ties, and firm ownership. International Business Review, 25(2), pp.522-534.
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