Market Entry Strategy For Wi-Charge Limited In India

Suitable Market Entry Strategy

Wi Charge is positioned as an SME that uses Israeli based technology which is focused on expanding its services and products within India that is anticipated to have successful market opportunity (Robles, 2017). The company is also involved in solving the issue of modern devices along with battery charging along with offering wireless charging service which surpasses ordinary wireless charging of modern devices. The objective of the report is to analyze the suitable market entry strategy used by the Wi-Charge Limited for expanding its business in India. This report will also explain the entry strategy of the company along with operational strategies that is planned in order for this business to expand its business in international market. Moreover, the key core competency of the organization will also facilitate in promoting success along with evaluating the major internal weaknesses against which effective operational and corporate strategies will be developing in attaining business success. 

Wi-charge ltd might undertake franchising as their market entry mode while expanding the Indian markets.  Franchising will be helping the organization in undertaking contracts in the form of license agreements (Saleem, Qayyum, Tahir & Khan, 2015). The agreements will be helping the organization in reducing the level of risk and lower resource commitment. The organization will be providing the franchisee with design of the product and the necessary equipment’s. The franchising activity will be helping the concerned business in marketing their products more efficiently in the Indian markets through the resources that will be invested by the franchisee firm. Brunner and Kuhn (2014) stated that franchising is one of the preferred ways through which an organization might undertake a rapid expansion in the host country. Therefore, franchising would be the best option for the concerned organization while making their expansion in the Indian markets.

Kulkarni  (2017) stated that the different changes that are undertaken by organizations are dependent on the assessment of the needs of the customer base. The franchising activity will be helping the concerned business in enhancing the marketing and distribution operations through the support of the franchisees. The franchisees are well aware of the needs and preferences of the customers in the nation. Therefore, the knowledge of the customer base will be assisting the concerned business in undertaking wide expansion in the Indian markets (Chen, Kor, Mahoney & Tan, 2017). On the other hand, the bilateral relations held by India and Israel will be helping the organization in maintaining the efficacy of the operations.

Operational Strategies for Business Expansion

Through implementing successful marketing entry strategy, Wi Charge Limited is deemed to be successful based on its success factors. In analyzing the same, the weaknesses of this new venture within India will be analyzed so that these can be addressed in ensuring the success of the company (Murphy, 2018). The weaknesses those can be faced by the company while entering the Indian market includes the fact that the chargers developed by this company is observed to mostly not matched with the current mobile phone technology. In addition, it has also been observed that the device developed by Wi Charge Limited occupies a considerable area. In addition, it is also observed that the company relies on the standardization of wireless changing batteries and along with that technology can be simply imitated by other manufacturers. Due to lack of new and improved technology the company might deal with issues related to attaining competitive advantages within Indian market (Tulung, 2017).

To deal with such weaknesses associate with business of Wi- Charge Limited, the company will employ certain success factors in order to attain competitive edge within Indian market. The charging devices will attain increased success in the Indian market for its products offered have consume friendly features such as simplicity, user friendliness, wireless along with having compatibility with multiple devices or USB (Tallman, 2017). Moreover, success of this venture in the new market is also ensured because of its competitive advantage based opportunities of developing new related services, attaining partnerships with other busineses along with observing that all mobile phones need charge and therefore the will be a huge demand for these products (Shaw, 2015). Moreover, certain other success factors attained by this new venture in entering Indian market includes its innovative technology of offering a wireless charging service that can offer wireless charging options to the mobile devices in which a device can be placed above the wireless charging unit. Competitive advantage can be attained by its products through offering an attached wireless charging unit within any ceiling in which it can serve as a normal light and charging devices through infrared beans attached to their devices (Cohen & Scatigna, 2016). 

The major weaknesses that are faced by the organization are:

Poor stakeholder management due to lack of communication- The lack of proficient communication between the management and the workforce affected the smooth functioning of the business units. The organization follows a top- down hierarchical model, which does not facilitate communication between the subordinates and the managers. It has resulted to clashes and conflicts in the workforce with no mitigation. The different changes that are planned by the business are affected through the lack of integration in the workforce. Gruber,   MacMillan and Thompson (2013) stated that communication acts as an efficient tool in connecting the different departments of an organization while operating on the common goal of the business. On the other hand, Rivera and Oh (2013) stated that communication helps an organization in maintaining the transparency of the operations which helps in encouraging the mass involvement of the stakeholders in the business processes. Lack of proficient communication with the stakeholders has affected the organizational operations through disintegration.  On the other hand, the poor stakeholder management and lack of communication has also affected the inventory management systems of the business. It has resulted to degradation in productivity of the business (De Nicolo, 2015).

Evaluation of Internal Weaknesses

Rising labor costs- The rising labor costs are one of the major competencies that are faced by the organization. It has affected the smooth functioning of the processes as planned by the business. Lack of proficient communication with the Labor Unions has also affected the supply of labor in the concerned venture resulting to diminishing productivity. On the other hand, the rising labor cost challenges the financial capabilities of the concerned business, which affected the productivity of the same while operating in different international markets.

Inappropriate resource allocation- The lack of coordinative functioning of the managers in the different departments has affected the organizational capabilities of resource allocation as per the demand faced by the same in the global markets. De Villa,   Rajwani and Lawton  (2015) stated that lack of proper resource allocation affects the positioning of the organizational product offerings in the global markets. On the other hand, Brunner and Kuhn (2014) stated that lack of efficiency of the organizations in allocating resources might result to huge loss for the venture. Therefore, the concerned organization face an issue relating to lack of proper collaboration among the stakeholders resulting to poor resource allocation capabilities.

The strategies that might be utilized by the organization for mitigating the issues are:

 Establishing proper communication medium- The organization might take steps to establish proficient communication medium in order to induce collaborative functioning of the different departments. Gruber,   MacMillan and Thompson (2013) stated that communication helps an organization in integrating the workforce and thereby guiding the same to achieve the common goal of the business. Enhancement of the communication medium will be helping the organization in encouraging the involvement of the stakeholders in the business processes that are planned by the venture. On the other hand, the enhanced communication between the stakeholders will be helping the organization in identifying the issues that are faced by the stakeholders and mitigate the same for supporting the smooth functioning objectives. The induction of suitable communication medium will be helping the organization in maintaining the change readiness among the stakeholders. Laufs and Schwens (2014) stated that change readiness helps an organization to implement a modification more efficiently.  Therefore, the induction of proper communication will be helping the organization in maintaining the efficacy of the processes as per the objectives of the business.

Negotiating with the Labor Unions- Undertaking negotiations with the labor union will be helping the organization in minimizing their expenses. On the other hand, frequent communication with the labor union will be helping the organization in undertaking a detailed analysis of labor supplies. It will be helping the organization in planning the processes as per the capabilities of the same (Foss, Lyngsie & Zahra, 2015).

Success Factors for Wi-Charge Limited in India

Undertaking meetings with the managers- The organization must take steps to communicate with the managers of the venture in order to identify and assess the resource capabilities of the same before allocating. Kulkarni (2017) stated that resource allocation is one of the major steps that are undertaken by the organizations in order to facilitate the smooth functioning of the processes. Meetings with the managers of distinct departments will be helping the hierarchy in identifying the crisis that is faced by the venture and thereby mitigate the issues in order to enhance the processes as per the needs of the business. The meeting with the managers will also help the organization in managing the inventory as per the demand faced by the same. It will be helping the organization in enhancing the processes. 

The operational strategy developed for Wi-Charge Limited in successfully entering Indian market considers improving consumer experiences through offering convenient, stable and meaningful power which can offer an effective building block for next generation access control solutions (Yanow & Adams, 2018). The operational strategy of the company also considers taking advantage of gradual increase in buying power of Indian consumers through implementation of innovate technologies. This strategy implementation will also make to suitable for the companies in expanding as well as attaining current market opportunities that can result in growth and development of the business in Indian marketplace. Moreover in implementing the innovation strategy for attaining competitive advantage, the new venture will develop a stylish integration like prototype in order to indicate the limitless possibilities from integrating leading edge charging technologies with modern generation power delivery (Burton & Obel, 2018). Moreover, in order to successfully compete within Indian market, the new venture will integrate its long range wireless power system with increasing advanced charging device replacements along with highly desired feasibilities for modern cellphones (Liao et al. 2017).

The corporate objective of Wi- Charge Limited is focused on offering highly desired capabilities along with offering exceptional solutions for charging issues intended for modern mobile devices. Constant business innovation is the major corporate objective of the new venture employing which it intends to attain competitive advantage within the international market. Focused on such objective, Wi Charge Limited will also focus on offering long range wireless charging facility that will be combined with magnetic induction charging technology that can offer power charging in any tablet without consideration to power outlets proximity (Kabue & Kilika, 2016). The company’s corporate strategy is also focused on entering the new market through its innovative technology implementation by means of franchising that can facilitate the company in introducing high-desired abilities for consumers which can also be added by manufacturers.

Strategies for Mitigating the Organization’s Weaknesses

The new venture of Wi Charge Limited will follow an organizational design of offering global product through franchising in India. The global product offering of the company will make sure that it is safe to use and as per the global digital trends In offering as global product within Indian market, the new venture will also demonstrate its technology within the market that is deemed to progressively increase the delivered power with reducing the cost of hardware used in charging devices (Král & Králová, 2016). The organization follows a top- down hierarchical model, which does not facilitate communication between the subordinates and the managers. It has resulted to clashes and conflicts in the workforce with no mitigation. The different changes that are planned by the business are affected through the lack of integration in the workforce. Wi-Charge Limited in successfully entering Indian market considers improving consumer experiences through offering convenient, stable and meaningful power which can offer an effective building block for next generation access control solutions (Foss, Lyngsie & Zahra, 2015). The operational strategy of the company also considers taking advantage of gradual increase in buying power of Indian consumers through implementation of innovate technologies. Moreover, in offering global product, the new venture will focus on simplicity, centricity and automation.

Franchising will be helping the organization in undertaking contracts in the form of license agreements. The agreements will be helping the organization in reducing the level of risk and lower resource commitment. The organization will be providing the franchisee with design of the product and the necessary equipment’s. In global product will invest wisely and heavily in order to increase the number of innovative products along with anticipating and managing consumer expectations long with tailoring pricing and promotions accordingly (Liao et al. 2017). 

The financial capital requirements is developed that can support successful entry of Wi Charge Limited.

Staffing method- The organization will be undertaking Polycentric staffing method of staffing, which will be allowing the venture to hold its subsidiaries as separate national entity. On the other hand, the staffing method will be helping the organization in hiring managers from India. Asher and Novosad (2017) stated that the Polycentric staffing method helps organizations in reducing the level of risk that might be faced by the same while setting up venture in the Indian markets. On the other hand, the managers from India, the host country, will be assisting the concerned business in maintaining the efficacy of the same through proper assessment of the customer requirements.

Diverse workplace- The organization will also hold a policy encouraging diversity in the workplace. Diversity in the workplace will be helping the organization will be assisting the same in maximizing innovation in the business processes. The key aspects of the diversity policy will be based on the need of avoiding discrimination based on race, culture or sex. Hye and Lau (2015) stated that the diversity in the workplace helps organization in abiding by the Equal Employment Act and thereby enhance the operations of the same as per the objectives of the business.

Anti-Tolerance towards workplace harassment and crime- The policy will help the organization in reducing workplace harassments and thereby facilitate the smooth functioning of the processes through elimination of conflicts between the employees. On the other hand, the policy will be helping the organization in inducing a positive workplace environment, which will help in enhancing the collaborative functioning of the employees leading to the common goal (Espinosa & Lindahl, 2016).

Conclusion

The objective of the report was to analyze the suitable market entry strategy used by the Wi-Charge Limited for expanding its business in India. The organization will be providing the franchisee with design of the product and the necessary equipment. The franchising activity will be helping the concerned business in marketing their products more efficiently in the Indian markets through the resources that will be invested by the franchisee firm. Moreover, it has also been gathered that Moreover in implementing the innovation strategy for attaining competitive advantage, the new venture will develop a stylish integration like prototype in order to indicate the limitless possibilities from integrating leading edge charging technologies with modern generation power delivery.  In addition, it has also been revealed that polycentric staffing method helps organizations in reducing the level of risk that might be faced by the same while setting up venture in the Indian markets. 

References

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