Internationalization Strategies of Wesfarmers Limited

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Individual assessment
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Executive summary
This assessment covers most of the aspects of internationalization in order to extend their
business and increase the awareness of the business. There are various and different types of
stages of internationalization have been applied by the organization in order to evaluate the
stages of internationalization. Many companies adopted direct exporting services to enter into the
international market. In addition, to expand the services to directing exporting into the
international market they have to go through with various stages of evaluation. Hence, the
corporate plans and tactics of evaluation may include different enthusiastic plans systematically
and effectively to internationalize the business.
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Table of Contents
Executive summary.........................................................................................................................2
Introduction......................................................................................................................................4
Evolution stages of internationalization..........................................................................................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
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Introduction
Based on the assessment that how the organization are gradually participating in the evaluation
stages to get international and enter into a foreign market. The organizations are adopting various
techniques of entering into the international market. The international market practices are way
more important to extend the business to other international boundaries. No matter how
sophisticated technologies and assets they acquire to get the business most recognizable
eventually the implementation of evaluations in the business is very necessary. The managers
and leaders are acquiring many business models to get internationalize their business. Therefore,
the organization have become successful to make their business more recognizable.
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Evolution stages of internationalization
On the basis of evaluation stages and internationalization business, the organizations are
drastically changing the business attributions. The businesses are adapting these stages in order
to make their business internationalize in this competitive world. A set of application is
demonstrating various aspects in order to increase the business in a foreign market in a well-
defined manner (Pacheco, 2019). The variations and occupancies in the business with different
organizations are clearly showing their efforts and defined in the mentioned below categories:
 Domestic companies: The best example of domestically explored their business in order
to get the attention of people is Wesfarmers Limited (Freixanet, et. al., 2019).
Wesfarmers Limited has been explored across the country and also maintains the loyalty
of the customers and employees by providing the impeccable service records.
Wesfarmers Limited is a worldwide organization enlightens the customer needs and
desires. Initially, this organization was limited to the national boundaries due to political
and legal regulations. The overall impression of this organization is way more effective
than management thinks growing globally and makes evolution in their business practice.
The practice began with expanding market penetration and share.
 International company: In order to get prospered and successful in the career, the
organizations are required to think big and clear (Pacheco, 2019). Therefore, Wesfarmers
Limited has applied different theories and internationalization concepts in business. They
commenced internationalization strategy with their own continent and starts exporting
products in New Zealand. Wesfarmers Limited has taken the risk and internationalizes its
operation into many different nations. The idea of internationalization has come by
analyzing its performance domestically. The response was surprisingly very good and out
of the box. Therefore, sales forecasting and budget allocation were also not so difficult
for them. Stakeholders are more likely to invest in the company which performs out of
the box in the market. In order to enter the foreign market, they applied the strategy of
target marketing and produces retail product along with chemicals and fertilizers.
 Multinational company: Wesfarmers Limited is a conglomerate Australian market and
explored in many different countries (Etemad, 2017). The exploration of Wesfarmers
Limited was very impeccable and extensively good. A company can only bring stability
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and sustainability in their behaviour when they satisfy their customers. Through target
marketing, they do even triggering individual or household customer but also triggers the
customers such as retailers, farmers, other business organizations in several countries.
They have targeted the countries which contains a good strength of population and huge
scope for the agricultural sector. The extension in their price and promotional strategy to
expand the market share is necessarily good and effective because their managers have
also decided to diversify their business to retail sector also after getting an ultimate
response (Etemad, 2017).
 Global company: In order to force or apply global market strategy in the business the
exploration in the business, the managers and leaders are required to establish a clear
image of their products and services to be delivered in other international boundaries. The
use of different marketing strategies in the business can increase the wealth of business.
An international brand can only focus on its marketing strategy in order to globalize the
business. Globalization of the business does not only increase the recognition but
contribute to the economy of the business (Dutta, et. al., 2016). Globalizations practices
of Wesfarmers Limited are surprisingly good in order to get explore the business,
therefore, they explored their business in more than 10 countries. The exploration of the
business is possible extending the business and entering in various international
boundaries. Wesfarmers Limited has mainly focused on the business strategy and they
mainly encountered customer demand. A set of clear understanding has applied that their
managers have done market orientation and research about the countries which going to
enter (Dutta, et. al., 2016). The biggest opportunity for an organization is when they hit
the customer need with the exact product which customers need at a very digestible price.
The production at the international level is not a cup of tea because international factors
and business environment hit different aspects of production. Wesfarmers Limited often
makes production outside the countries to reduce the production cost and promote cost-
effective strategies.
 Transactional company: The transactional business can be improvised the business in
order to share the products and services with other international business. The
diversification in the business can be possible with the transaction of products and
services. In simple words, the transactional companies can be termed as a partnership
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with companies. Hence, Wesfarmers Limited is also an organization controlling different
subsidiaries to operate the business. Globalized organizations often acquire different
small-medium organization to get the support to deliver their products to the right
customers. The organization can be termed as logistics and transportations. In order to get
better direction to the companies, the transactions can only possible with the
homogeneous and Giffen goods (Tran, et. al., 2016). The use of different transactional
practices has adopted by Wesfarmers Limited in order to remove disruption and other
barriers from the business. The establishment of the business in a new market is very
necessary to internationalize the business and increase brand recognition. The use of
international marketing is basically depending on business commitments and good
working relationships. International marketing does not only for establishing market
share bit also increase the working relationship with other countries. People of other
countries only accept the organization when they consider countries’ culture, morale and
attitude of buying pattern of people (Tran, et. al., 2016).
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Conclusion
Based on this report it has been concluding that Wesfarmers Limited has applied the
internationalization stages and made very drastic evolution in the practices in order to expand the
business very systematically and enthusiastically. The need for accepting the government and
political regulation is very important to establish new market share in the market. The use of
international market practices is very necessary to increase the market share and recognition of
the business. The changes and practical approaches in very important to be recognized by the
managers and leaders of Wesfarmers Limited to explore the brand name.
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References
Dutta, D.K., Malhotra, S. and Zhu, P., 2016. Internationalization process, impact of slack
resources, and role of the CEO: The duality of structure and agency in evolution of cross-border
acquisition decisions. Journal of World Business, 51(2), pp.212-225.
Etemad, H., 2017. Towards an emerging evolutionary life-cycle theory of internationalized
entrepreneurial firms: from born globals to borderless firms?. Journal of International
Entrepreneurship, 15(2), pp.111-120.
Freixanet, J., Rialp, A. and Churakova, I., 2019. How Do Innovation, Internationalization, and
Organizational Learning Interact and Co‐evolve in Small Firms? A Complex Systems
Approach. Journal of Small Business Management.
Pacheco, L., 2019. Internationalization Effects on Performance: the Case of the Portuguese
Textile and Wearing Firms. Journal of Textile and Apparel, Technology and Management, 11(1).
Tran, Y., Yonatany, M. and Mahnke, V., 2016. Crowdsourced translation for rapid
internationalization in cyberspace: A learning perspective. International Business Review, 25(2),
pp.484-494.
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