進入國外市場PPT課件

1、1Institutions, resources, and foreign market entriesInstitution-based viewResource-based viewForeign Market Entries: WhereWhenHow第1頁/共33頁Where to enter?2 Two sets of considerations drive the location of foreign entries: (1) strategic goals and, (2) cultural and institution distance.第2頁/共33頁Location-

2、specific Advantages and Strategic Goals3 Location-specific advantages: Favorable locations in certain countries may give firms operating there an advantage. Natural seeking Market seeking Efficiency seeking Innovation seeking第3頁/共33頁Natural seeking4 Firms quest to pursue natural resources in certain

3、 location. Advantages: Possession of natural resources and related transport and communication infrastructure. Example: Oil in Middle East, Russia第4頁/共33頁Market seeking5 Firms quest to go after countries that offer strong demand for their products and services. Advantages: Abundance of strong market

4、 demand and customers willing to pay. Example: Seafood in Japan第5頁/共33頁Efficiency seeking6 Firms quest to single out the most efficient locations featuring a combination of scale economies and low cost factors Advantages: Economies of scale and abundance of low-cost factors Example: Manufacturing in

5、 China第6頁/共33頁Innovation seeking7 Firm target countries and regions renowned for generating world-class innovations. Advantages: Abundance of innovative individuals, firms, and universities. Example: IT in silicon valley; financial services in New York; aerospace in Russia第7頁/共33頁Cultural/Institutio

6、nal Distances and Foreign Entry Locations8 Culture distance : the difference between two cultures along some identifiable dimensions (such as individualism). Institutional distance: the extent of similarity or dissimilarity between the regulatory, normative, and cognitive institutions of two countri

7、es第8頁/共33頁When to enter?First-moverLate-mover91983.4.112013.12.16第9頁/共33頁First mover advantages10 First movers may gain advantage through proprietary technology. First movers may make preemptive investments. First movers may erect significant entry barriers for late entrant, such as customer switchi

8、ng costs. (B2C & B2B) Intense domestic competition may drive some nondominant firms to seek fortunes abroad to avoid clashing with dominant firms head on in their home market. First movers may build precious relationships with key stakeholders such as customers and governments.第10頁/共33頁Late-move

9、r advantages11 Late mover may be able to free ride on first movers huge pioneering investments. First movers face greater technological and market uncertainties. First mover may be locked into a given set of fixed assets or reluctant to cannibalize existing product lines in favor of new ones.第11頁/共3

10、3頁When?12 A mountain of research is still unable to conclusively recommend a particular entry timing strategy. It is through interaction with other strategic variables that entry timing has an impact on performance.第12頁/共33頁How to enter?13 Scale of entry: Commitment and Experience Modes of Entry: Th

11、e First Step on Equity versus Nonequity Modes Modes of Entry: The Second step on Making Actual Selections第13頁/共33頁Scale of Entry14 Scale of entry: The amount of resources committed to foreign market entry. Large scale entries Small scale entries第14頁/共33頁Large scale entries15This both helps assure lo

12、cal customers and suppliers and deter potential entrants.The drawbacks of such hard-to-reverse strategic commitment are (1) Limited strategic flexibility elsewhere and(2) Huge losses if these large-scale “bets” turn out wrong第15頁/共33頁Small scale entries16 They focus on organizational learning by get

13、ting firms feet “wet” - learning by doing-while limiting the downside risk. The drawback of small-scale entries are a lack of strong commitment, which may lead to difficulties in building market share and capturing first-mover advantages.第16頁/共33頁Modes of Entry: The First Step on Equity versus Noneq

14、uity Modes17 Modes of entry: The format of foreign market entry. Nonequity mode: A mode of entry (exports and contractual agreements) that tends to reflect relatively smaller commitments to overseas markets. Equity modes: A mode of entry (JV and wholly owned subsidiaries) that is indicative of relat

15、ively large, harder to reverse commitments.第17頁/共33頁Modes of Entry: The Second step on Making Actual Selections18 During the second step, managers consider variables within each group of nonequity and equity modes.第18頁/共33頁19Choice of entry modesNonequity modesequity modes(FDI)ExportsContractualagre

16、ementsJoint Ventrues(JVs)Wholly owned subsidiaries (WOS)Direct exportsIndirect exportsOthersLicensing/franchisingTurnkey projectsR&D contractsCo-MarketingMinority JVs50/50 JVsMajority JVsGreen-fieldsAcquisitionsOthers第19頁/共33頁Licensing/franchising20 An agreement in which the licensor/franchisor

17、sells the rights to intellectual property such as patents and know-how to the licensee/franchisee for royalty fee.第20頁/共33頁Licensing/franchising21 Advantages Low development costs Low risk in overseas expansion Disadvantages Little control over technology and marketing May create competitors Inabili

18、ty to engage in global coordination第21頁/共33頁Turnkey project22 A project in which clients pay contractors to design and construct new facilities and train personnel. Build-operate-transfer (BOT) agreement. A nonequity mode of entry used to build a longer term presence.第22頁/共33頁Turnkey project23 Advan

19、tages Ability to earn returns from process technology in countries where FDI is restricted. Disadvantages May create efficient competitors Lack of long-term presence第23頁/共33頁R&D contract24 Outsourcing agreements in R&D between firms.第24頁/共33頁R&D contract25 Advantages Ability to tap into

20、the best locations for certain innovations at low costs. Disadvantages Difficult to negotiate and enforce contracts May nurture innovative competitors May lose core innovation capabilities第25頁/共33頁co-marketing26 Co-marketing refers to efforts among a number of firms to jointly market their products

21、and services.第26頁/共33頁Co-marketing27 Advantages: Ability to reach more customers Disadvantages: Limited coordination第27頁/共33頁Joint venture (JV)28 A new corporate entity given birth and jointly owned by two or more parent companies.第28頁/共33頁Joint venture (JV)29 Advantages: Sharing costs, risks, and profits Access to partners