如何进人国际市场译文.docx

如何进人国际市场译文.docx

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如何进人国际市场译文

HowtoEnterForeignMarkets

Allofthemeansforsuppyingforeignmarketsareemcompassedinjusttwoactivities

（1）exportingtoaforeignmarketor

（2）manufacturinginit.

Exporting

Mostfirmsbegantheirinvolvementinoverseasbusinessbyexporting--thatis,sellingsomeoftheirregularproductionoverseas.Thismethodrequireslittleinvestmentandisrelativelyfreeofrisks.Itisanexcellentmeansofgettingafeelforinternationalbusinesswithoutcommittinganygreatamountofhumanorfinancialresources.Ifmanagementdoesdecidetoexport,itmustchoosebetweendirectandindirectexporting.

IndirectExporting.Indirectexportingissimplerthandirectexportingbecauseitrequiresneitherspecialexpertisenorlargecashoutlays.Exportersbasedintheirhomecountrywilldothework.Managementmerelyfollowsinstructions.Amongtheexportersavailableare

（1）manufacturers'exportagents,whosellforthemanufacturer;

（2）exportcommissionagents,whobuyfortheiroverseascustomers;（3）exportmerchants,whopurchaseandsellfortheirownaccounts;and（4）internationalfinns,whichUsethegoodsoverseas（mining,construction,andpetroleumcompaniesareexamples）.

Indirectexporte,however,payapriceforsuchservice:

（1）theywillpayacommissiontothefirstthreekindsofexporters;

（2）foreignbusinesscanbelostifexportersdecidetochangetheirsourcesofsupplyand（3）firmsgainlittleexperiencefromthesetransactions.Thisiswhymanymanagementsthatbegininthismannergenerallychangetodirectexporting.

DirectExporting.Toengageindirectexporting,managementmustassignthejobofhandlingtheexportbusinesstosomeonewithinthefirm.Thesimplestarrangementistogivesomeone,usuallythesalesmanager,theresponsibilityfordevelopingtheexportbusiness.Domesticemployeesmayhandlethebilling,credit,andshippinginitially,andifthebusinessexpands,aseparateexportdepartmentmaybesetup.Afirmthathasbeenexportingtowholesaleimportersinanareaandservicingthembyvisitsfromeitherhomeofficepersonnelorforeign-basedsalesrepresentativesfrequentlyfindsthatsaleshavegrowntoapointthatwillsupportacompletemarketingorganization.

Managementmaythendecidetosetupasalescompanyinthearea.Thesalescompanywillimportinitsownnamefromtheparentandwillinvoiceinlocalcurrency.Itmayemploythesamechannelsofdistribution,thoughtheneworganizationmaypermittheuseofamoreprofitablearrangement.Thistypeoforganizationcangrowquitelarge,ofteninvoicingseveralmillionsofdollarsannually.FormanyyearsbeforebuildingaplantinMexico,EastmanKodakimportedandresoldcamerasandphotographicsupplieswhiledoingalargebusinessinlocalfilmdeveloping.Manyfinnsthatbeganwithlocalrepairfacilitieslaterexpandedtoproducesimplecomponents.Gradually,theyproducedmoreoftheproductlocallyuntil,afteraperiodoftime,theyweremanufacturingallofthecomponentsinthecountry.

Beforeexaminingforeignmanufacturing,wewanttodescribebrieflytheturnkeyproject,whichisanexportoftechnology,managementexpertise,andinsomecases,capitalequipment.Thecontractoragreestodesignanderectaplant,supplytheprocesstechnology,providethenecessarysuppliersofrawmaterialsandotherproductioninputs,andthentraintheoperatingpersonnel.Afteratrialrun,thefacilityisturnedovertothepurchaser.

Theexportermaybeacontractorthatspecializesindesigninganderectingplantsinaparticularindustrysuchaspetroleumrefiningorsteelproduction.Itmayalsobeacompanyintheindustrythatwishestoearnmoneyfromitsexpertisebydeliveringaplantreadytorunratherthanmerelysellingitstechnology.Chemicalcompaniessoldnumerousturnkeyprojectstothecommunistcountries,forexample.Anotherkindofsupplierofturnkeyprojectsistheproducerofakeyinputthatsellsacompleteplantinordertoobtainacontracttoprovideitsproducttothefinishedfactory.

ForeignManufacturing

Whenmanagementdoesdecidetobecomeinvolvedinforeignmanufacturing,itgenerallyhasfivedistinctalternativesavailable,thoughnotallofthemmaybefeasibleinaparticularcountry.Theseare:

1.Whollyownedsubsidiary.

2.Jointventure.

3.Licensingagreement.

4.Franchising..

5.Contractmanufacturing.

Asixtharrangement,themanagementcontract,isutilizedbybothmanufacturingandservicecompaniestoearnincomebyprovidingmanagementexpertiseforafee.

WhollyOwnedSubsidiary.Thecompanythatwishestoownaforeignsubsidiaryoutrightmay

（1）startfromthegroundupbybuildinganewplant,

（2）acquireagoingconcern,or（3）purchaseitsdistributor,thusobtainingadistributionnetworkfamiliarwithitsproducts.Inthislastcase,ofcourse,productionfacilitieswillhavetobebuilt.Americancompaniescertainlypreferwhollyownedsubsidiaries,buttheydonothaveamarkedpreferenceforanyofthethreemeansofobtainingthem.

However,thisisnotthecaseforforeigninvestorsintheUnitedStates,whoprefertoacquiregoingconcernsfortheinstantaccesstothemarkettheyprovide.Moreover,theyalsohaveonelesscompetitorafterthepurchase.

Sometimesitisnotpossibletohaveawhollyownedforeignsubsidiary.Thehostgovernmentmaynotpermitit,thefirmmaylackeithercapitalorexpertisetoundertaketheinvestmentalone,ortheremaybetaxandotheradvantagesthatfavorajointventure.

JointVenture.Ajointventuremaybe

（1）acorporateentityformedbyaninternationalcompanyandlocalowners,

（2）acorporateentityformedbytwointernationalcompaniesforthepurposeofdoingbusinessinathirdmarket,（3）acorporateentityformedbyagovernmentagencyandaninternationalfirm,or（4）acooperativeundertakingbetweentwoormorefirmsofalimited-durationproject.Largeconstructionjobssuchasadamoranairportarefrequentlyhandledascooperativeundertakings.

Whenthegovernmentofahostcountryrequirescompaniestohavesomelocalparticipation,foreignfirmsmustengageinajointventurewithlocalownerstodobusinessinthatcountry.Insomesituations,however,aforeignfinwillseeklocalpartnersevenwhenthereisnolocalrequirementtodoso.

Somefirms,asamatterofpolicy,enterjointventurestoreduceinvestmentrisk.Theirstrategyistoenterintoajointventurewitheithernativepartnersoranotherworldwidecompany.Stillothers,suchasFordandVolkswagen,havejoinedtogethertoachieveeconomiesofscale.Anydivisionofownershipinajointventureispossibleunlesstherearespecificlegalrequirements.

Althoughajointventurearrangementofferstheadvantageoflesscommitmentoffinancialandmanagerialresources,andthuslessrisk,therearesomedisadvantagesfortheforeignfirm.One,obviously,isthatprofitsmustbeshared.Furthermore,ifthelawallowstheforeigninvestorstohavenomorethana49percentparticipation（commonindevelopingcountries）,theymaynothavecontrol.Thisisbecausethestockmarketsinthesecountriesareeithersmallornonexistent,soitisgenerallyimpossibletodistributetheshareswidelyenoughtopermittheforeignfirmwithits49percenttobethelargeststockholder.

Lackofcontroloverthejointventureiswhymanymanagementsresisfmakingsucharrangements.Theyfeelthattheymusthavetightcontroloftheirforeignsubsidiariestoobtainanefficientallocationofinvestmentsandproductionandtomaintainacoordinatedmarketingplanworldwide.Forexample,localpartnersmightwishtoexporttomarketsthattheglobalcompanyservesfromitsownplants,ortheymightwanttomakethecompleteproductlocallywhentheglobalcompany'sstrategyistoproduceonlycertaincomponentsthereandimporttherestfromothersubsidiaries.

Inrecentyears,numerousgovernmentsofdevelopingnationshavepassedlawsrequiringlocalmajorityownershipforthepurposeofgivingcontroloffirmswithintheirborderstotheirowncitizens.Despitetheselaws,controlwithaminorityownershipisstillfeasible.

ControlwithMinorityOwnership.Therehavebeenoccasionswhentheforeignpartnerhasbeenabletocircumventthespiritofthelawandensureitscontrolbytaking49percentofthesharesandgiving2percenttoitslocallawfirmorsomeothertrustednational.

Anothermethodistotakeinalocalmajoritypartner,suchasagovernmentagency,aninsurancecompany,orafinancialinstitution,thatiscontenttoinvestmerelyforareturnwhileleavingtheventure'smanagementtotheforeignpartner.Ifneitherarrangementcanbemade,theforeigncompanymaystillcontrolthejointventure,atleastintheareasofmajorconcern,bymeansofamanagementcontract.

ManagementContract.Themanagementcontractisanarrangementunderwhichacompanyprovidesmanagerialknow-howinsomeorallfunctionalareastoanotherpartyforafeethatrangesfrom2to5percentofsales.Internationalcompaniesmakesuchcontractswith

（1）firmsinwhichtheyhavenoownership（examples:

HiltonHotelprovidesmanagementfornon-ownedoverseashotelsthatusetheHiltonname,andDeltaprovidesmanagementassistancetoforeignairlines）,

（2）jointventurepartners,and（3）whollyownedsubsidiaries.Thelastarrangementismadesolelyforthepurposeofallowingtheparenttosiphonoffsomeofthesubsidiary'sprofits.Thisbecomesextremelyimportantwhen,asinmanyforeignexchange-poornations,theparentfirmislimitedintheamountofprofitsitcanrepatriate.Moreover,becausethefeeisanexpense,thesubsidiaryreceivesataxbenefit.

LicensingFrequently,worldwidecompaniesarecalledontofurnishtechnicalassis