Political Environment
BlueBlak Inc. is a pharmaceutical company that is based in India. The company was founded in 2015 and has got a large distribution channel in India, consisting of about 700 outlets. The company seeks to expand its operations overseas through exporting drugs in New Zealand. This report was compiled by the operational management team of BlueBlak Inc., based on the analysis of the business prospects of exporting drugs to New Zealand. Some of the key indicators that made New Zealand a viable market for the company’s products include its political and economic stability, which assures the predictability of the market in the long term. The other salient indicator was the accessibility of established pharmaceutical retailers with which BlueBlak Inc. will form non-equity partnerships, thereby enabling the company a wide scope of market access. Besides, the regulatory structures in New Zealand is friendly to foreign investments considering the requirements laid down by MedSafe, that national regulatory body.
Notably, the methodology used to compile this report was involved an in-depth analysis of the social, economic and political factors in New Zealand. This largely entailed an extensive searcher of the current published literature, database information and market information such as industry news and customer intentions. One major limitation encountered in the compilation of this report include was the easy availability of information regarding the economic, cultural, political and legal aspects in both India and New Zealand. There were no current reports by international organizations or peer-reviewed journal articles that could provide the information and the report has thus to draw the information only from credible websites.
The political stability of New Zealand provides a conducive environment for businesses and investors. The country ranks highly internationally in terms of its democratic institutions, government transparency and the low corruption levels (Gloss, 2017). New Zealand is a parliamentary democracy that is modeled along the British governance system, consisting of a single-chamber of the House of Representatives. Its Head of State is Queen Elizabeth II whose representative is a resident Governor-General. The democratic regimes in New Zealand are mainly coalitions, with two major political parties (New Zealand Now, 2018). Gloss, (2017) argues that the politically stable environment in New Zealand has made the country a safer place for conducting business. The openness, stableness and fair dealings encouraged by the government have seen to the country attracting many foreign investors. Its stability has also introduced an element of predictability with regimes running their terms and getting re-elected which gives investors a sense of certainty when making projections for their business investments.
Economic Stability
In regards to medicine and medical products, the New Zealand government provides subsidies to its citizens. Buyers use Higher Use Health Card (HUHC) or the Community Service Card (CSC) to buy the subsidized drugs. Those people without the cards pay more to acquire their prescribed drugs. The government has fully subsidized the medicine for children who are under the age of six years and are therefore not charged. Furthermore, the Pharmaceutical Management Agency determines the drugs that should be subsidized and at what cost (New Zealand Immigration, 2018). BlueBlak will need to factor in the subsidies that the government is providing for their citizens, with particular regard to how they will affect the costing of the medicine products that they will provide to the New Zealand market.
The economic stability of New Zealand is also an indicator of a sound investment environment. Basically, New Zealand operates a mixed economy that is based on the principles of a free market. The country reported a high growth of GDP at 2.9 % in 2016 (New Zealand Now, 2018). The economy further grew by 2.7 % in 2017 and it is projected to grow by 2.9% in 2018 and, 3.6% in 2019. The economy boasts of a sizeable manufacturing and service sectors that complement the highly productive forestry and agricultural sectors (ICEUW, 2018 ). The key drivers of the service economy include property, financial services and tourism (Focus Economics, 2018). Its economy, therefore, consists of a comprehensive mix of goods and services.
Besides, exports serve as a significant contributor to New Zealand’s economic growth. Notably, the export of goods and services from New Zealand account for about one-third of its GDP, with the country holding dear bipartisan commitment regarding free trade (New Zealand Now, 2018). Arguably, New Zealand strongly supports trade liberalization and has entered into various free trade agreements (FTAs) with its Asia Pacific neighbours such as Thailand, Malaysia, China, Hong Kong, ASEAN, and Australia. Furthermore, New Zealand has ratified the Trans-Pacific Partnership Agreement (TPP) (Gloss, 2017). The fact that New Zealand is a proponent of free trade portends well for BlueBlak Inc. as it indicates that the country is welcoming to foreign investors.
The attractiveness of New Zealand in business has been noted in various international reports. For instance, according to the World Bank 2016 “Dong Business” report, New Zealand was ranked second best worldwide in terms of the ease of doing business. The 2015 Global Opportunity Index by Milkin Institute ranked New Zealand as fourth worldwide in terms of its attractiveness to foreign investment (New Zealand Now, 2018). Gloss, (2017) further notes that New Zealand has a fairly simple tax system that does not include payroll tax, capital gains on tax or social security. The country also has a considerably low cost of labour on the basis of purchasing power and whenever this is combined with favourable international investor exchange it makes New Zealand educated workforce and highly skilled labour considerably affordable.
Legal Environment
The legal environment is an important consideration as it ensures the stability of the foreign country in terms of establishing partnerships and seeking redress in case of arising conflicts. The legal institutions in New Zealand are largely based on the English law. The judiciary in the country is strong and independent. It provides solid protection to the property rights, and ensures that contracts and intellectual property rights are not secure but also enforced (New Zealand Now, 2018). This robust legal framework ensures that both foreign and local investors are provided with a low risk and well-function business environment for their investments.
It is recommended for traders and manufacturers to register their trademarks and patent their innovations in New Zealand. The country is a signatory to intellectual property conventions and treaties such as the Berne Convention, the Paris Convention, the TRIPS Agreement and the Patent Co-operation Treaty. The trademarks and patents are the Intellectual Property Office of New Zealand, which is charged with the responsibility of maintaining a register of such rights and interests. The patents are registered according to the Patent Act 2013. On the other hand, trademarks are registered under the Trade Mark Act 2002. The Act stipulates that registration of trademarks is for any sign that can be represented graphically and be also distinguish goods and services of one business entity from those of the others. The trademark is valid for ten years; upon which time it can be renewed for another successive ten years (Foreign & CommonwealthOffice, 2017). It will be, therefore, required of BlueBlak Inc. to register its trademark in New Zealand in order to acquire government recognition and be therefore free to transact business in the country.
The New Zealand Medicine and Medical Device Safety Authority (Medsafe) is a regulatory body that is charged with the responsibility of regulating the importation of medicines, medical devices, and any other related products or herbal medicines. Essentially, Medsafe regulates medicine in New Zealand to ascertain that it is safe, of good quality and effective in its targeted use. Medsafe restricts the importation of medicines that they have neither reviewed nor approved. They approve medical products after they have confirmed that they are manufactured safely to the acceptable quality and that they also contain a safe or effective formulation. (MEDSAFE, 2018)
Given that BlueBlak Inc. seeks to sell medicaments that are used in therapy, it is considered under the requirements for approving medicine products and medical devices. BlueBlak Inc. will, therefore, need to apply through the Medsafe Evaluation and Approval Process. This will entail submitting a New Medicine Application alongside the supporting data, whose guidelines have been determined by Medsafe. The supporting data should demonstrate the quality, safety, and efficacy of the ingredients used to make the medicinal products (MEDSAFE, 2018). The evidence needs to be substantiated by clinical trials or alternatively through citing credible, scientific peer-reviewed literature. Notably, testimonials are not admitted as the supporting data. BlueBlak Inc. will also need to provide data on the quality of its products in the course of their shelf-life. Furthermore, BlueBlak Inc. will need to provide evidence that their medicament products are made in facilities that are compliant to sound manufacturing practices (MEDSAFE, 2018). As the entity that will be legally responsible for placing the medicament products in the New Zealand market, BlueBlak Inc. is also required to have an established physical address in New Zealand.
Intellectual Property Rights and Trademark and Patent Registration
Culture plays a significant role in the success of business transactions, especially when dealing with people from foreign cultures. Hendon, Hendon, & Herbig, (2004) claims that naturally, cultures influence the negotiation between members in relation to their conceptualization of the process, the ends that they target, the means that they use and the expectations that they have regarding their prospective business partners. In this chapter, we look at the interaction of culture in determining the success of BlueBlak Inc.’s communication and negotiation with its partners in New Zealand.
Each culture is delineated from the other by its respective nuances, norms, traditions, and beliefs. All these factors affect business transaction particularly when one is trying to launch into a foreign market that has got a different culture than their own. One of the way in which culture affects business is in the different ways in which people from various cultures dress. Evidently, dressing ascribes meaning to personality, which may give the impression of one being either respectful or sloppy or arrogant ranging from one culture to another (Cellich & Jain, 2012). For instance, business people in New Zealand dress conservatively, aiming for a more formal look. In order to maintain their formality men, wear suits that are darker coloured with conservative ties; business women wear suits, dresses or skirts and blouses with jackets. Their dressing is rather casual when they are not involved in business activities or meetings, though the clothes should keep the classic neutral colors such as camel, white navy and gray in order to maintain the professional casual look (Cultural Atlas, 2018). On the account of business dressing, Indians are similar to the New Zealanders: the dressing for both men and is derived from the western culture, with men wearing suits and ties and long pants, while women wear skirt suits (Expat Focus, 2018). There will be an agreement in the manner of addressing something that may end up building synergy in the business relationship due to the commonalities involved.
Punctuality is a key component of the business culture in New Zealand. It is expected for one to be on time or early for their business appointments (Cultural Atlas, 2018). This will need to be approached with caution because, in most instances, Indians begin and end their business meetings late, allowing many interruptions to take place on a regular basis (Expat Focus, 2018). This may appear rude to the New Zealanders and they may form a perception of a lack of seriousness in the business that we want to establish. Therefore, punctuality during the business meeting is something that will need to be developed and observed religiously.
Regulatory Structures in New Zealand
When dealing with New Zealand it is recommended that one to maintain a formal and reserved demeanor, particularly in their first meeting. One is required to become more relaxed, taking the cue from the behavior of their New Zealand host (Cultural Atlas, 2018). Indians place high prominence on forming relationships and may exchange gifts such as sweets in such meetings (Expat Focus, 2018). This could be potentially problematic to a people who are quite reserved in their first encounter with people from other cultures and need to be given time to get used to dropping the veil of formality.
Besides, New Zealanders prefer minimal talking while people are eating. Therefore, any conversation is conducted before and after the meal. Dinners are normally reserved for the social interactions and thus business is never discussed during such occasions. However, lunch is normally used for conducting business conversations (Cultural Atlas, 2018). This is slightly different to the Indian culture where eating time involves dialogues, though not based on business issues but rather personal family matters; therefore, posing a potential danger of misunderstanding.
According to Cellich & Jain, (2012) culture has a direct effect on verbal and non-verbal business communication. The variation in culture goes a long way in determining the success of communication in business based on whether or not the cultural expectations of the people involved will be adequately addressed. One of the key elements of verbal communication is language. The commonality of language between negotiators or business partners builds a bridge that helps each of them to reach a satisfactory agreement (Gelfand & Brett, 2004). In the case of New Zealand, we have established that apart from Maori, English is widely used in business communication in New Zealand. The same case applies to India, where apart from the wide use of numerous indigenous languages such as Hindi and Telegu, English is largely the official business language (Business Culture, 2018). This implies that there will be no communication barrier with our New Zealand partners in terms of language.
Non-verbal communication is quite evident when people are greeting one another either before or after the meeting. When meeting a New Zealander and when parting them one needs to give a firm handshake and simultaneously maintain a good eye contact. This indicates a genuine interest in the person or the meeting that you are have just had or are going to have (Cultural Atlas, 2018). There is a slight difference compared to our Indian culture where our greetings could either be through a handshake or Namaste that involves pressing palms together with the fingers pointing upwards, which is then accompanied by a gentle bow (Expat Focus, 2018). Namaste may not work with the New Zealanders and it may turn them off, particularly if one ignores their proffered hand for greeting.
Importance of Government Subsidies
It is also important to take into consideration how people are addressed in a foreign culture. The people in New Zealand liked to be addressed by their titles such as Mr. or Mrs., which is then followed by their full name (Cultural Atlas, 2018). The same applies to India where much importance is placed on the use of formal titles. This then will not pose any challenges in communicating with our partners in New Zealand.
Even though New Zealanders will allow one to use their first names after a short while, it is best that one addresses them by their honorific title and surname until they suggest otherwise (Cultural Atlas, 2018). In the Indian business culture, there is small talk before the business meetings commence, which often includes some questions about the family of the participants (Business Culture, 2018). While this is a way of building trust amongst the people you are trying to negotiate within the Indian context, it should be avoided with the New Zealanders, as it may sound intrusive, given that they take time before they even allow you to use their first name to address them.
New Zealanders put a high premium on honesty. It is, therefore, advisable not to hype the product one is trying to sell or brag about it. It is important not to come across as being overly friendly or too forward (Cultural Atlas, 2018). On the account of honesty, Indians too consider the business relationship as being of utmost significance; they thus based their business decisions on the intuition and trust they have on their prospective partners just as much as they rely on data and statistics in the determination of a working relationship (UK-India BritishCouncil, 2018). In this regard, small talk will be invaluable in getting to understand the prospective partner as Indians perceive rushing business decision as rudeness.
As Zueva, Rogers, Corbett, & Cathro, (2007) observe, culture affects the manner in which business negotiations are conducted and the resulting agreements. If anything, the resulting agreements are a reflection of the interpretation of the business partners of their surroundings and the interactions that they had with their partners. Hammerich & Lewis, (2016) cautions that cultural differences may lead to the breakdown in communication and interfere with the adoption of appropriate negotiation strategies, given that the parties from these different nationalities rely on cultural frameworks in making conclusions. Brett, (2014) points out that the negotiators’ cultural backgrounds affect their priorities, interests, and strategies that they employ in international business negotiations.
The negotiation process that will be used in this regard will be based on the framework proposed by Rudd & Lawson, (2007), which consists of four key steps to be applied in global negotiations. The first step will include the pre-negotiation whereby the research will be conducted to understand the other parties and their culture, their contexts and the BTNAs that are available for them. The second stage will consist of evaluating the strengths and weaknesses of Blueblak Inc. in the quest of preparing for a credible and effective negotiation. The third step will consist of examining the assumptions that BlueBlak has about the negotiation process with the potential strategic partners. This will require that the BlueBlak’s management adapt to the culture of the potential partners and establish the standard practice to be observed that will guarantee success. The fourth step will involve ensuring that the argument reached provides a foundation for prosperous outcomes and stable future relationships with the strategic partners.
The strategy that will help BlueBlak Inc. to penetrate the New Zealand market will be the non-equity strategic alliance. According to Culpan, (2009) the non-equity strategic alliance are contractual relationships that are established between two or more firms with the objective of sharing some of their unique capabilities and resources in order to develop a competitive advantage. Uddin & Akhter, (2011) notes that non-equity strategic alliances are normally entered with manufacturers, distributors and/or suppliers; they may also be established for the purpose of information sharing or marketing.
There are numerous advantages that come with the adoption of the non-equity strategic alliance. One of these is that the relationship between the partners is largely informal and this demands lesser commitment on their part as compared to the other types of strategic alliances. This thus, makes the agreement much easier to implement (Russo & Cesarani, 2017). Secondly, this alliance will not require BlueBlak Inc. to have much experience about the New Zealand market; neither will it require the transfer of tacit knowledge expertise (Schniederjans, Schniederjans, & Schniederjans, 2015). Peng, (2014) further notes that companies opt for the non-equity strategic alliance because it helps to streamline entrance into new markets through distribution agreements, supply contracts, and licensing agreements. The partnership is premised on the factors such as complex economic environment and uncertainty pertaining to the technologies used in the new markets.
BlueBlak Inc. will enter into a non-equity strategic alliance with Green Cross Health, which is one of the major distributors of medicine in New Zealand that owns some nationally recognized pharmacies such as Life and Unichem. BlueBlak Inc. will also form another strategic alliance with Chemist Warehouse, which is the main competitor of Green Cross Health, with a national network of pharmacies (Clayton, 2017). With these strategic alliances in place, BlueBlak Inc. will be able to leverage their network and human resource expertise to reach the markets in New Zealand. Joy, Esther, & Onoh, (2018) suggests that the selection of strategic partners should focus on elements such as the similarity of strategic goals and objectives between the partners that will create synergies through combined technologies, marketing, and the management cadre. Therefore, BlueBlack Inc. is set to benefit from this particular strategic alliance through sharing with the partner in terms of the product technologies, markers, and management resources. Notably, the non-equity strategic alliance will be characterized storing BlueBlak products in the outlets of the two pharmaceutical companies and providing shelves in those outlets, where the products can be displaced to then walk-in customers.
There are three approaches that the BlueBlak Inc can adopt in the management of the human resource in New Zealand. These include the ethnocentric, polycentric and geocentric approaches. Vyuptakesh, (2013) defines the ethnocentric approach as the one in which the practice by the home country prevail in matters to deal with key decision-making. Besides, as Deresky, (2017) claims the home country employees are assigned the key jobs and thus the subsidiaries follow the human resource practices of the home country. Leat, (2012) regards the polycentric approach as the one in which every subsidiary is in charge of its local human resource management. In this case, a local is charged with the management of the subsidiary, largely because he/she is well versed with the local business knowledge as compared to the managers at the headquarters. The human resource practice is, therefore, developed locally. Rudd & Lawson, (2007) argues that the geocentric or global approach is suitable for business entities that are integrated globally and therefore manages and recruits their staff on a global basis.
BlueBlak Inc. will employ the ethnocentric approach in the management of its human resource in New Zealand. Therefore, the management will deploy managers from India to oversee the business operations with the strategic partners in New Zealand. This approach is deemed appropriate in this case for a number of reasons. For one, as Ritcher, (2012) suggests, the ethnocentric approach is suitable when the operations and procedures of the parent company, which is BlueBlak in this case, require management and control in order for the company to realize some profit. We will require managers from the headquarter to be on the ground to monitor the operations of our business in our partner’s stores and outlets. Scullion, Collings, & Gunnigle, (2007) further recommends this approach for those organizations that seek to transfer the value of their company to their foreign operations. In this case, the BlueBlak Inc. employees in India are well versed in our values relating to work ethics, productivity, customer services, and other such issues. In deploying them to New Zealand we shall be transmitting those particular values to the subsidiaries rather than let them be absorbed with the values of our partners.
There are other hosts of benefits that are associated with the adoption of this particular strategy. According to Shong, (2008), the adoption of this particular strategy will give the BlueBlak Inc. employees some international exposure, which is bound to broaden the scope of their knowledge and skills. Ghanawi, (2012) also recommends this particular strategy as it provides opportunities for continuity, particularly in case BlueBlak Inc seeks to expand its operations in the future. This is achievable by appointing managers to work in the New Zealand subsidiary who are well versed in the working knowledge of the company’s long-term objectives.
Conclusion
The operational management team concludes that New Zealand as a viable market for BlueBlak Inc.’s medicinal products reveals some key positive indicators that make the country attractive for investment. For one, New Zealand has got a stable political system that guarantees continuity of foreign investment and allows for the possibility of making projections for future investment strategies. Besides, the stability of the political system has made it possible for the economy to thrive, recording robust consistent growth in GDP each successive year. This is indicative of a strong market with disposable income who can support the growth and expansion of business enterprises. Furthermore, the legislative framework in the country provides foreign investors with various structures through which they can safeguard their investments both in the short and long term.
Based on this facts, the BlueBlak Inc. may enter the New Zealand market by forming a non-equity strategic alliance with Green Cross Health and Chemist Warehouse. Notably, these are the key medicine sellers in New Zealand with a distribution channel that spans the whole country. They are renowned for the credibility of the brands of drugs and medical devices that they sell across the country and have established relations with the government in the sense that they collaborate to provide subsidized medicine to the New Zealanders. In creating a strategic alliance with these pharmaceutical retailers, BlueBlak Inc. will be able to tap into their distribution network, use their storage facilities and leverage on their knowledge and expertise regarding the workings of the New Zealand medicine markets.
As required by the law, BlueBlak Inc. will first establish a physical location in Wellington, New Zealand’s capital. This will serve as the headquarters of the subsidiary, where most of the administrative and operational management functions will be conducted. BlueBlak Inc. will then seek clarification from Medsafe in order to acquire the authorization to import medicine into New Zealand. After the acquisition of approval and the establishment of strategic alliances, BlueBlak Inc. will embark on the recruitment of personnel, who will include the management staff that will be drawn from the BlueBlak Indian headquarters and the subordinates some of whom will be drawn locally and will include dispensary technicians, retail staff and chemists.
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