Readiness to Internationalize at Maynooth Natural Granite
Shingirayi A. Mutandiro – 6565816
Professor Lynn MacDonald
Mr. Hyland is trying to find suitable markets for expanding his granite rock business profitably by relinquishing some control of his business. Mr. Hyland is also concerned with achieving a balance between his local business interests and family life in Canada.
Alternatives 1. Keep ongoing operations as is (status quo) 2. Service Boston, Hamburg and London only 3. Expand to Tokyo and Amsterdam (in addition to Boston, Hamburg and London)
Facts considered 1. There is a significant household gardening market, especially in USA 2. The…show more content… Higher prices lead to lower demand compared to the competitors’ granite products. Delays will also lead to poor service, meaning lower goodwill as well as lost sales. 2. The average cost of auto propane trading worldwide at US$6.40 is expected to rise given growing global fuel demand. The higher cost of auto propane will also increase the price of the granite products that MNG intends to ship to foreign markets. 3. The Canadian gardening market is heavily saturated, and even more so as the granite business grows. With the advent of the internet, customers have more options to find cheaper alternatives to MNG’s products. This also means the company’s market share is significantly reduced. 4. Language and social differences in potential markets act as barriers to business activities. Without knowledge of the foreign languages, conducting business transactions becomes harder. The culture differences make it even more complicated, since there are differences in business etiquette depending on the country. 5. Balancing family time and business is also important for Mr. Hyland. Running a business like this is time consuming and gets in the way of his aim for more family time.
Mr. Hyland is trying to find suitable markets for expanding his granite rock business profitably by relinquishing some