Entry into Foreign Market Essay Example | Topics and Well Written Essays - 1500 words - 1

Entry into Foreign Market - Essay Example ays emphasis on four important areas: a) The question of value: Whether the resource of the company is sufficient to exploit an environmental opportunity or be able to neutralize an environmental threat (Chapman, 2011). b) Question of Rarity: Are the resources of the company presently controlled by other small competing companies (Chapman, 2011). c) Question of Imitability: Do the companies face difficulties in cost advantage in developing or obtaining it (Chapman, 2011). d) Question of organization: Have the policies and procedures of the company organized systematically to support the exploitation of valuable, rare and expensive to imitate the resources (Management Mania, 2013). The evaluation of various resources of CIC would be as follows: Tangible Financial CIC is one of the most profitable drilling equipment manufacturers which have successfully completed various drilling projects for the renowned companies of varied nations. Physical CIC has made a strong presence with the man ufacturing of 80 brands in more than 300 locations around the world. Technological The company has installed state of the art machineries and control equipments meant for oil drilling, control instrumentation and various other process operations. Organizational The company has developed in built effective strategies meant for its various onshore activities in ultra deepwater discoveries (Cameron, 2013a). Intangible Resources Human Presently, CIC boasts of a diverse workforce with more than 27000 employees globally. Innovation & Creativity One of the major objectives of the company is to design leveraging tools which lessens the burden of extracting crude oil onshore and offshore. Reputation The company has been successful in drilling and compressing activities without hampering the... Presently, Myanmar is facing various kinds of social and economic tensions, which have hampered the national unity of the country. This has led to a major downfall in the economic development and decrease in various economic opportunities. 90 percent of the population follows Buddhism and the cultural and social values are based on Theravada Buddhism. Gender biasedness is also prevalent to a large extent in the Myanmar society (BEWG, 2011). The country has been facing severe challenges because initially, it was under the control of the military regime, which has compelled the people to adapt to a particular lifestyle. Firstly, the management of CIC should understand and analyze the cultural variations in Myanmar which will help the company in studying the attitude and behavior of the common people. Secondly, the company should adopt several techniques which will help in understanding marketing dynamics and also adjust to it accordingly. Modeling techniques like Delphi methods will he lp in assessing the market requirement and developing strategies accordingly. Finally, the company should adopt a clear communication model which would help the employees to understand the importance of work ties over cultural ties and also provide clear instruction process. After assessing the current scenario in Myanmar it is advisable for CIC to opt for subcontracting techniques (WiseGeek, 2011).The subcontracting technique is a type of job contract, which will help in outsourcing certain type of work to other companies (WiseGeek, 2011).