Internationalization analysis

 

Internationalization analysis

Defining industrial evolution, IT systems and economic viability in global opportunities.

Inroduction 

Industrial and economic evolution in the last century have evolved into a complex matrix that is interdependent one volution and innovation. The economic principles of the game have changed into flexible and interdependent cooperative development. In industry 4.0 there can be found high techno-economic relevance. Also, technological evolution changed organizational structures, management and development process.

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Theoretical framework

Globalization have changed market structural perception, and company entry level have become more competitive than ever. This can be identified in standardized practices and fulfilment provided by global corporations (Christian Grönroos). However, industrial evolution has its advantages and opportunities. There may be dominance in the standardized mainstream products, but niche markets with specialized product demand can be found (Gary A. Knight and S. Tamer Cavusgil). Christian Grömroos theorizes corporate internationalization to be achievable in markets through the following strategies:

1. Direct export => standardized approach toward most appliable services in terms of customer expectancy.
2. Systems export => two or several firms whose solutions complement each other, cooperate into mutual understanding and beneficial agreement.
3.  Direct entry => entering foreign market with your own representation, everything is defined by the company.
4.  Indirect entry => establishing local agreements and cooperation.
5. Electronic marketing => communication and land distance do not bind a firm cooperation.

The above strategies can be followed in combinations or even all at the same time. While the organizations in fact can find many opportunities in international development. Its value product can be treated and handled in many ways. For example, the organization may chose to penetrate outside market, be a service provider, specialty retailing and/or have any other involvement that directly entails that is linked to a new market segment. This can be achieved whether in B2B OR B2C (Christian Grönroos).

Organizational advantage is derived from competitive advantage in its answers and innovations. As mentioned in the introduction, techno-economics are highly influential in industrial market diffusion. There is a visible increase in demand for technological development (Juan Alcácer et.). The traditional story is one of a choice or a substitution effect between alternative modes of governance. Instead, in the information age the internal and external business networks coordinated by a firm have become increasingly interconnected. This directly implies measurement and manipulation in managerial practices, IT can further enhance organizational control and navigation. Further optimizing patterns, connections and sharing of information, that leads to organizational growth and development. Also, these patterns are constantly changing and adopting to market dynamic environment (Juan Alcácer et.).

One more phenomena and investigation that further supports techno-economic dependence and high impact is “Born Global”. Born global primarily investigates relatively small tech companies, that are emerging on a global playfield to promote some innovative service (Gary A. Knight et.). Its public adoption and market development have been investigated through Uppsala model and innovation framework.

Finally, firm should keep in mind cultural distance and psychic distance, for new market entry (Carlos M.P. et.). These two highly impact successful entry in any given type of establishment. Regardless of a mainstream marketing perspective, in which customer satisfaction is derived from cultural and individual expectancy. Carlos identifies two main key distinctions in regard to differentiating between cultural and psychic distance:

• The greater the cultural distance between the home and the foreign market, the greater is the psychic distance.
• The importance that a manager attributes to conservation values is positively related to psychic distance.

Conclusion

Market and economic development in the last century have led into globalization and interdependent viability. There is no simple way to explain market complexity because of its magnitude however, there can be made more comprehensive conclusions that lead into understanding business entry levels. Globalized corporations have made it difficult to compere in some regards, and in relation to technological evolution business entry have shifted into a more innovation competitive market than ever. Notably industries are becoming service driven, with firms trying to find ways of cooperation instead of competition. And lots of emerging companies are providing innovative solutions to communication channels and/or solutions to industrial development.

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References:

Carlos M.P. Sousa and Frank Bradley (2004) Cultural Distance and Psychic Distance: Two Peas in a Pod? Journal of International Marketing 2006, American Marketing Association Vol. 14, pp. 49–70

Juan Alcácer, John Cantwell and Lucia Piscitello (2016) Internationalization in the information age: A new era for places, firms, and international business networks? Journal of International Business Studies Vol. 47, 499–512

Christian Grönroos, (1999),"Internationalization strategies for services", Journal of Services Marketing, Vol. 13, pp. 290 – 297

Sylvie Chetty, Desiree Blankenburg Holm (2000) Internationalisation of small to medium-sized manufacturing firms: a network approach. International Business Review Vol. 9, pp. 77–93

Gary A. Knight and S. Tamer Cavusgil (1996) The born global firm: A challenge to traditional internationalization theory. Advance in international marketing, Vol. 8, pp. 11-26