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This well established business entity that goes by the name Kitchenware International was founded and established in the initial stages of the year 2016, in 30th January to be exact. This was necessited by a combined effort of close friends who eventually became partners resulting to the birthing of this kitchen ware giant. The area of specialty of this institution revolves around the manufacture and the production of utensils that serve efficiently and effectively numerous households in this beloved nation of Sydney. The entire manufacturing process is advanced and does not involve the emission of the green house gases that result to global warming issues. The targeted audience or even market purely comprises the young adults placed between 18 to 35 years. The expertise and experience the company has exhibited in its production has resulted to a tremendous demand that has further enhanced and improved the organizations annual revenue. There are well elaborate plans of penetrating into the international market so as to effectively increase the business entitys profits. As explained by the high demand of the kitchen ware both locally and internationally, success is with no doubt inevitable which calls the company to action in attempting to garner in newer business territories as far as the international market is concerned(Tian 2016).
With the issue of there being other well established companies that are in the very same line of work of the production of kitchen ware, it seems wise for the company to assume and embrace a new direction of garnering in newer pastures. This will serve the purpose of reducing the glaring issue of unavoidable competition in our beloved nation of Australia. On the other hand, the company ought to take hold of the need and urgency of maximizing the profits. In as much as there are well elaborate sales within the boundaries, increased sales can also be forth coming from other international platforms. This will positively enhance and effect the overall revenue received by the organization. This can even result to the establishment of even more other outlets both locally and internationally for the overall well being of the company. The acquisition of materials from other nations can be relatively cheap if it is at lower prices. With the case of Fiji, it has been approved and confirmed that the raw materials there are extremely cheap which could for the good of the company. These reduced operation costs will enhance the sales and the general revenue of the organization at hand(Lynch Jin 2016).
Examining Key Elements of a PechaKucha Style Presentation
The global world has extensively evolved and developed where the cultures of the past are being diminished and overshadowed by the westernization. This will ease the company’s attempt of invading the nation of Fiji as the better part of that country has a similar culture as ours. This brings to light the idea that our utensils will also get sold expansively in that nation and the utmost parts of the world. This bold and daring move of the company will enhance its being recognized and commended by other organizations within the boundaries and the global at large. The company’s level of accountability and responsibility will be effected resulting to increased sales for the good of the entire organization. The rate of taxation between the two nations varies greatly with Fiji having a lower system of gathering in taxes. The establishment of Kitchenware International in that nation will result to increased sales sourced from the extreme maximization of the profits. Lastly, the establishment of the company in that foreign nation will facilitate the production of numerous units or even products that will further enhance and increase the organizations overall revenue.
Bearing in mind that Fiji is a new territory, elaborate marketing strategies must be put into play so as to enhance efficiency and effectiveness in the sale of the company’s units. This will call for exclusive checks for the avenues and platforms that are in need of kitchenware. Some of the involved individuals are wedding planners whose endeavors normally revolve around facilitating the feeding programs of the numerous guests gracing the wedding events. Small restaurants and caterers are also other settings that our products can be on sale. The companies that usually have numerous staff parties or meetings are also other grounds where the company’s merchandise can be in play.
The geographical areas of the alien nation can also be target markets of the companys products. With the case of the numerous local learning institutions without kitchen facilities that can facilitate numerous events, such can serve as the companys market. Other areas revolve around the local markets with numerous vendors in need of kitchen appliances which the organization can comfortably supply. The local churches without kitchenwares are also potential markets for the company(Tian 2016).
The penetration into a newer market requires several tactics and strategies to put into play for the smooth running of the organization at hand. Extensive exporting is one such technique to exercise in a newer market. This basically is all about exporting the goods and even the services of the company to this alien market. This will serve the purpose of minimized operational costs for the good and well being of the business entity. Licensing on the other hand is equally important as it will give the company the greenlight to conduct and operate its operations in Fiji effectively without any form of intimidation from whichever body. Joint ventures is another tact to roll in play in entering a new market. This will bring combined efforts from the two joined entities that will positively impact the overall performance of the firm. The company can as well decide to operate as a single entity with no joints which is also commendable. This will serve the purpose of maximizing the profits if the Kitchenware International Company.
The overseas operations will simply assume a similar structure as the mother company. The overall governing body will comprise of a board of management that will be exhibiting absolute power as far as the running of the company is concerned. The chief executive officer will be second in command executing the already generated ideas and thoughts of the board of governors. His or her purpose will aim towards realizing the company’s vision and elaborate missions. There will be several departments headed by well able managers whose full mission is the realization of the set goals and objectives of the company. The human resource manager will be handling the sourcing and the recruitment of employees. He or she will also take them through their different roles for an effective performance. The marketing manager on the other hand will basically be dealing with production promotion making sure that the units produced have been distributed efficiently. With the bit of production, the production manager will be around making sure that anything that relates to the manufacturing processes rolls out perfectly. The operations manager on the other end will be running all the operations of the company making sure that efficiency and effectiveness have been incorporated in the smooth running of the business.
Numerous challenges are associated with sourcing products from other foreign regions. This has great impact on the general performance of the company. Getting the right and necessary information the actual size of the soon to be established will be quite cumbersome. This will call for elaborate research so as to determine the actual proportion that the involved structures will assume. Other elements of the running of the organization will require thorough forecasting in the attempt of preventing any errors held by the unforeseen future. Pricing in the Fijian market is usually unpredictable and therefore the firm must be on the look out so as to avoid any surprises. The quality of the shipment outsourced is also another major issue that might derail the entire project if not put under close scrutiny.
These two nations have diverse cultural backgrounds which might be a hindering factor towards the realization of this international penetration. This might boil down to their taste and preferences which might differ from what the company is putting on the table and this might decrease the sales. Diverse and complicated communication practices might also affect the establishment of this business entity into this foreign nation. The available avenues of communication might not be as effective as the project tem would want and that presumably can affect the sales projection. The negotiation processes also vary and this can present problems in the name of unsuccessful agreements that can be bad for business. The decisions that ought to be made are solely dependant on the business atmosphere in Fiji. Abrupt decisions made possibly because of the unpredictability of the trends of this foreign might in one way or the other result numerous negativities for the well being of the organization.
The situation of exploring and penetrating into a new market is a force to reckon with. Diverse and tremendous changes are inevitable which might necessitate the company towards changing its products. This might result to unknown realizations that might work either positively or negatively. With there being the possibility of things not working out for the good of the company, a good defined exit plan should be forthcoming which is not usually the case with most new establishments in the name of companies. The establishment of the entire organization in a new environment might raise the need for the local team with the purpose of facilitating some elements of the entire setting up of the structure. In the wake of this, the company might end up hiring the wrong team that will end up derailing the general establishment of the organization. In as much as forecasting has already been rolled into play, some projections might not be that accurate especially in the line of estimating the entire cost of offshore manufacturing.
The earlier on mentioned diversified culture needs to be put to check. This can be done by effectively appreciating the foreign cultures by working towards producing products that are in their favor. Australian culture can also be introduced gradually without ignoring the general concerns of the Fijians. With the case of outdated communication systems, elaborate up to date avenues of communication can be established efficiently by the organization with the purpose of garnering in sales to enhance the revenue of this business entity. The current negotiation processes can be introduced to enhance good platforms where business agreements are effectively made and sealed for the good of the company. A comprehensive study should be made on the new market before the actual establishment so as to make sure that elaborate and effective decisions are made that will result to the betterment of the business in the ling run.
There has to coordinated efforts as far as the issue of the evaluation cost is concerned in an attempt to prevent any losses that the company might incur. This can be done establishment of several teams on the ground picking up the required information about what it will entail in the establishment of the company. An effective team should be picked on the basis of experience and expertise towards making sure that the establishment of the company will run smoothly. Effective management of the changes that the market might experience in line with production must be put under close scrutiny for the betterment of the business entity. A thorough and effective close check of the quality of the shipment before and after must be a paramount factor to put under consideration so as to avoid poor quality products(Shenkar Luo Chi 2014).
The price surprises are inevitable in any given business environment. This calls for the company to be on the look out for such so as to immediately and effectively deal with such suprises once their manifestation is due. The company should also have an elaborate exit plan to employ if everything goes wrong. This can be done by efficient and frequent checks on contracts so as to avoid any legal issues and battles from aggressive uncooperative partners. Reasonable forecasting should be paramount for the right and efficient sailing of the company towards maximumly utilizing its potential. The manufacturing selection should be analyzed well so as to avoid any wrong projections that pertain to the size of the company at hand. All this is for the good of the good of the company.
The cultural issue is greatly at play in the situation of our establishment of the company in Fijian. The Fijians are quite reserved and are not readily amused by this establishment. The majority think that their quite rich culture will be degraded as a result of the numerous establishments of foreign companies in the land our organization being one. The idea of emission of the green houses is also creating a fuss and a lot has to be done for our course to up and about. The company’s humble gesture of providing proof that its production is up to date without polluting was not quite convincing to some Fijians. The issue of our presenting unnecessary local competition is indeed diverse as the majority of the Fijians deems this as unfair. Moral decadence is also an issue that the Fijians claim has been presented by older alien organizations(Casserly, et al., 2018).
Some Fijians on the other hand are very much positive with the idea of the company’s establishment in their land. They see it as spring board of growth and development. This establishment will result to the improvement of infrastructure that will greatly help the nation. Technological advancement is also associated with the establishment of the company. This is because of the advanced machinery that will be used in the production of the kitchenware within the Fijian nation. Job opportunities will be numerous as the company will be sourcing labor from within. The company is also associated with extreme westernization that greatly fascinates the Fijian women.
The company has elaborate set plans in addressing the issues raised by the locals. One such way is through the involvement of charity programs where the company has specifically allocated funds for such genuine projects. The entire process of production in the issues of labor and raw materials will be sourced from within so as to enhance the growth and development of the nation. Effective and well elaborate orientations and demonstrations of the production process will be guaranteed so as to nullify the negativities exhibited by the locals as far manufacturing is concerned.
Piekkari, R., Welch, D. and Welch, L.S., 2014. Language in international business: The multilingual reality of global business expansion. Edward Elgar Publishing.
Lynch, R. and Jin, Z., 2016. Exploring the institutional perspective on international business expansion: Towards a more detailed conceptual framework. Journal of Innovation & Knowledge, 1(2), pp.117-124.
Tian, X., 2016. Managing international business in China. Cambridge University Press.
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