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BRI > Cours 4 > Flashcards

Cours 4 Flashcards

1
Q

Entry mode

A

Arrangement by which a company gets its products, technologies, human skills into a market

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2
Q

3 categories of entry mode

A

Exporting,importing and countertrade

Contractual entry

Investment entry

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3
Q

Developing an export strategy

A

4 steps

  1. Identify a potential market
  2. Match needs to abilities
  3. Initiate meetings
  4. Commit resources
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4
Q

Degree of export involvement

A
  • direct exporting: sell to buyers

- indirect exporting : sell to intermediary

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5
Q

Buyers

A

Sales representative

Distributor

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6
Q

Intermediary

A

Agent
Export management company
Export trading company

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7
Q

Avoid export blunders

A

Conduct market research
Obtain export advice
Hire a freight forwarder

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8
Q

Forms of countertrade

A

Barter

Counter purchase

Offset agreement

Switch trading

Buyback

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9
Q

Barter

A

Direct exchange without Money

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10
Q

Counter purchase

A

Sales to a nation in return for promise of future purchase from that nation

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11
Q

Offset agreement

A

Offset a hard currency sale to a nation with future hard currency purchase

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12
Q

Switch trading

A

Sales by a company of an obligation to purchase from a country

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13
Q

Buyback

A

Export of industrial equipment in return for products that the equipment produces

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14
Q

Licensing

A

Company owning intangible property grants another firm the right to use it for a specific time

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15
Q

Advantages licensing

A

Finance expansion
Reduce risks
Reduce counterfeits
Upgrade technologies

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16
Q

Disadvantages

A

Restrictions licensor’s activities
Reduce global consistency
Lend strategic property

17
Q

Franchising

A

Company supplies another with intzbglible property over and extended period

18
Q

Advantages franchising

A

Low cost
Low risk
Rapid expansion
Local knowledge

19
Q

Disadvantages franchising

A

Cumbersome

L’ost flexibility

20
Q

Management contract

A

Company suppliers another with managerial expertise for a specific period of time

21
Q

Advantages management contract

A

Few assets risked
Nations finance projects
Develops locals workforce

22
Q

Disadvantages management contract

A

Personnel at risk

Create competitor

23
Q

Turnkey project

A

Company designs, constructs, and tests a production facility for a client

24
Q

Advantages turnkey

A

Firms specialize in competency

Nations obtains infrastructure

25
Q

Disadvantages turnkey project

A

Politicized process

Create competitor

26
Q

Wholly owned subsidiary

A

Facility entirely owned and controlled by a single parent company

27
Q

Advantages owned subsidiary

A

Day to day control

Coordinate subsidiaries

28
Q

Disadvantages owned subsidiary

A

Expensive

High risk

29
Q

Joint venture

A

Company created and jointly owned by two or more entities to achieve a common objective

30
Q

Advantages joint venture

A

Reduce risk level
Penetrate markets
Access channels

31
Q

Disadvantages joint venture

A

Partner conflict

Lose control

32
Q

Types of JV

A

Forward integration
Backward integration
Buyback
Multistage

33
Q

Strategic alliance

A

Entities cooperate (but do not form a separate company) to achieve strategic goals of each

34
Q

Advantages strategic alliance

A

Share project cost
Tap competitors strength
Gain Channel access

35
Q

Disadvantages strategic alliance

A

Partner conflict

Create competitor

36
Q

Selecting partners

A

Commitment
Trustworthiness
Cultural knowledge
Valuable contribution

37
Q

Strategic factors

A 
Cultural environment 
Political/legal environments
Market size
Production and shipping costs 
International experience
38
Q

Chinese innovative companies start from

A

Low end segments
Péripheral markets

Serving niche segments and troublesome customers

BRI (5 decks)

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