TAILIEUCHUNG - Lecture International Business (11/e) - Chapter 16

In this chapter you will learn: How economists measure employment and unemployment? How minimum wage rates and unionization can cause unemployment? Why there is a natural rate of unemployment? Why there is a cyclical component of unemployment? | Entry Modes McGraw-Hill/Irwin International Business, 11/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter sixteen Learning Objectives Explain the international market entry methods Discuss the debate on whether being a market pioneer or a fast follower is most useful Identify two different forms of piracy and discuss which might be helpful and harmful to firms doing international business Discuss channel members available to companies that export or manufacture overseas 16- Pioneers vs. Fast Followers Pioneers Can gain and maintain competitive edge in new market Overall pioneers may not perform as well in the long run as followers Most successful when High entry barriers exist Firm has sufficient size, resources, and competencies Followers Many become followers by default May be advantage to let pioneer take initial risks Most successful when Few legal, technological, cultural, or financial barriers Sufficient resources or competencies to overwhelm the pioneer’s early advantage 16- Entering Foreign Markets Nonequity modes of market entry Exporting Selling some regular production overseas Requires little investment Relatively free of risk Indirect exporting Direct exporting Equity modes of market entry Wholly owned subsidiary Joint venture Strategic alliance 16- Summary: Modes of Entry 16- Indirect Exporting Exporting of goods and services through various home-based exporters Manufacturers’ export agents sell for manufacturer Export commission agents buy for overseas customers Export merchants purchase and sell for own accounts International firms use the goods overseas 16- Indirect Exporting, cont’d. Disadvantages Commission to export agents, commission agents, export merchants Foreign business can be lost if exporters decide to change their sources and supply Firm gains little experience from transactions 16- Direct Exporting Exporting of goods and services by the producing firm Sales company option Business .

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