Market Entry Overview
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Market Entry Overview
Anthony Dennis
College of Business Western Governors University
Laura Garrido
11/08/23
A.
Company Culture and Market Entry Strategy:
In this paper, I plan on presenting the facts in a numbered/bullet point format so that it’s easy for the reader to understand the layout and facts of the article.
The culture within a company plays a vital role in shaping and influencing market entry strategy.
Here’s how:
1.
Innovation and Customer-Driven Design
The company's culture and mission statement
emphasize a customer-first approach as well as putting innovation at the forefront of what
the company does. This would influence the market entry strategy by ensuring that any product introduced in a new market aligns with the needs and preferences of the target
2
audience. In the case of India, understanding the specific requirements of local fishers and creating a product that addresses those needs would be a priority.
2.
Open Communication and Collaboration
: The founders have established a culture of open communication and collaboration, where employees and founders are considered equal partners. This culture would facilitate effective market research and engagement with Indian fishers. It would allow for a deep understanding of the market, enabling the company to tailor its product and approach to suit the Indian context.
3.
Testing and Feedback Loop
: The company's culture encourages testing and feedback from customers. This would be crucial in the Indian market, where the product may need to be adapted to suit the diverse range of fishers in terms of age, regional preferences, and
cultural nuances. The testing laboratories, involving both customers and innovators from other industries, would be invaluable in refining the product for the Indian market.
B. Organizational Structure:
An organizational structure, where all employees have access to the founders for collaboration and decision-making, be both a positive and a negative. Here’s why:
Advantage:
Quick Decision-Making
: The decentralized structure allows for fast decision-making. This is particularly beneficial in a dynamic market like India where adaptability and responsiveness to changing customer needs are crucial.
Company Culture:
The company's culture plays a crucial role in shaping its decision-making
3
process. In this case, the founders have established a culture of innovation, where employees are encouraged to generate creative ideas. This culture fosters an environment of continuous improvement and a focus on delivering innovative solutions. The incentive for employees to contribute their ideas and the creation of testing laboratories demonstrate a commitment to involving all stakeholders in the design and development process. This inclusive approach empowers employees to take ownership of their contributions, leading to a sense of shared responsibility for the company's success. Additionally, the founders' invitation to innovators from other industries highlights an openness to external perspectives, further enriching the creative environment.
Organizational Structure: The decentralized organizational structure is another significant factor influencing decision-making. Allowing employees and founders to function as equal partners creates a flat hierarchy, where accessibility and collaboration are prioritized. This structure promotes open communication and shared decision-making, ensuring that all perspectives are considered in the decision-making process. With easy access to the founders, employees have the
opportunity to contribute their insights, voice concerns, and actively participate in shaping the company's strategies. This structure empowers employees and fosters a sense of ownership, as their input directly impacts the decisions made by the company.
Strategic Direction, Mission, and Vision Statements: The mission statement, vision statement, and ethical statement provide a clear framework for the company's strategic direction. The mission statement emphasizes customer-driven design and growth, indicating a commitment to meeting customer needs and driving industry innovation. This mission guides decisions related to product development, customer service, and expansion efforts. The vision statement, focusing
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