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JOINT VENTURE
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The international mode of entry are 4:
- contract manufacturing, Licensing, franchising anf JV - JV its an equity alliance between 2 or more persons to carry out a business venture. Risk and rewards are shared una de las partes puede estar phisically located allí pero no es imprescindible its limited time Forming a jv between one or more companies is one of the most frequent ways of conducting international business. This form is more commonly used as a way to share the risk associated with a new enterprise and take advantage of the skills or assets of the venture partner. |
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ADVANTAGES
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Access to new markets. an international jv allows a firm to establish their mkt or manufacturing presence with the assistance of a local partner. The partner may provide knowdledge of government working, regulations, internal market... this knowledge may be very useful to you in an unknown market
- Greater capacity, due to complementary technology and management skills. - More resources. R&D and production cost can be shared - Access to new distribution channels - Risk is shared. JV is particularly attractive to small and medium companies because it allows u to enter in a foreign market having limited risk and taxes - Achieve synergy by combining strengths |
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DISADVANTAGES
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- Investment risk. Although the initial investment don't need to be hight...
- Return in investment. los primeros años pueden ocasionar perdidas conflictos con tu partner high level of commitment |
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MAIN CONFIGURATIONS
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- FORWARD INTEGRATION. companies decide to do downstream activities
- Backward integration - payback. output is absorted by the companies - multistage |
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STAGES IN A JV FORMATION
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- DEFINE OBJECTIVES
ANALYSE THE COST AND BENEFITS. financial commitment, synergy , risk, reduction, control - select ur partner - business plan development. - jv agreement . contract writing evaluate ur performance. |
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HOW TO SELECT A PARTNER
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- Finance. Financial history and ratios
- Organisation. structure, workforce conditions, effective ownership... - Market. Reputation with competitors, quality of salesforce - Production. Existing works. Relation with suppliers - Institutional . Influence in the government, successful negotiations with banks. |
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CONCLUSION
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In conclusión, before starting a joint venture, make sure you are clear about what you want from the relationship. Make sure, also, that you are clear about what your JV partner(s) want and that they know what you want. Unless you are all in agreement
As a small business, you may want to team up with a larger partner for their large customer base, broad product line or advanced business techniques. Most small businesses think of the extensive financial assistance a large company can offer. Be honest about this - there's nothing worse than committing yourself to a large company and finding they are less generous with their money than you had hoped. |
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LARGE
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If you are the larger business in a joint venture proposal, you need to be open about your desire to take over and absorb your smaller partner (if that is the case.) Nobody expects you to pour unlimited funds into a smaller JV partner (even though it might seem like that, at times) and a junior partner might be naturally fearful of losing their identity and loss of intellectual property. Good communication skills are needed.
To créate a favourable Alliance you have to see firstable if it fits with ur business strategy. It is also a good idea to study what similar business are doing, particulary those in the same market as yours. |
