entry methods
TRANSCRIPT
Introduction:
It is observed that the pace of retailers’ internationalization has been increasing significantly
during the couple of years. It is obvious from present literature that the retailers do not only
internationalise as a reaction to decreasing sales or reduction in the local market share. There
are a large number of factors that are probably to play a function motivating both the decision
as well as the business strategy accepted in overseas markets (Evans et al, 2007). Now the
internationalization of retailing has reached such a phase that requires further review of the
hindrance to internationalization and the extent to which retailers design their international
strategy. A considerable research is also accomplished in this regard (Alexander, 1990;
Hutchinson et al., 2006, 2007; Quinn, 1999; Vida and Fairhurst, 1998; Wrigley et al., 2005).
All these concerns that business situation in the international market has amended
significantly especially during some previous years. There are so many reasons behind this
aspect such like advanced technology, limited growth opportunities and the decline in
domestic market. Moreover, the inclination of retailers towards deliberation of possession in
the retail sector has changed the background of international retailing.
Internationalization means centralization of management and spreading out using an
analogous perception overseas. The international retailers mainly overlooked regional and
national distinctions. International retailers develop to the markets which contain a fragment
of customers that will consider their businesses constructively (Park and Sternquist,
2007). Because of the uncomplicated duplication of previously established formula, the
global retailer is now skilled to quick growth (Salmon and Tordjman, 1989). Among their
developed understanding and aptitude, international retailers are forcefully growing and the
global market has become much homogenized that retailers can sell their indistinguishable
offerings all over the world by standardized marketing activities (Hamel and Prahalad, 1985).
1
Experiential studies disclose that companies among universal strategic driving force tend to
favour an advanced equity mode of entry (Harzing, 2002; Rajan and Pangarkar, 2000).
Exploring the impact of tactical factors on global entry method option, these studies created
proof that companies with a universal strategy favoured a wholly owned subsidiary.
However, franchising has been broadly used as a substitute way for international retailers
(Park and Sternquist, 2007). Albeit latest studies inside the retailing division have
focused on global features of retailing, for example enthusiasm towards globalization
(Alexander, 1996), determinant of worldwide participation (Vida, 2000; Vida et al., 2000),
but study on entry method strategy is almost missing, excluding a small number of studies
(Doherty, 1999, 2000; Palmer and Owens, 2006; Petersen and Welch, 2000). Generally,
global franchising literature has determined the inspiration to internationalise, the degree and
course of movement, means of global franchising and to a minor area, functioning concerns
such like command, support and adjustment (Aydin and Kacker, 1990). This piece of study
has determined the firms that are basically built around development throughout
internationalising the home franchise business (Christiansen and Walker, 1990; Kedia et al.,
1994). On the other hand, this literature did not concentrated on the particular temperament of
the internationalisation of retail organizations utilizing franchising as a global entry mode,
whether they franchise nationally or not (Doherty and Alexander, 2005). But, since
elaborated by Moore et al. (2004), study on command and control in the perspective of global
retailing remains at an early stage rather than its fundamental significance in the global retail
franchising practice. The impression of power is believed to be central to understanding the
ways through which one channel element can alter or amend the performance of a different
member inside its channel of circulation (Hunt and Nevin, 1974).
This theory of managing is more difficult through internationalising the channel consequently
in global retail franchising it is essential that retailers use means so they can manage
2
franchisees and usage of the brand name in distinct markets. Accordingly, the present study
contributes to the research through covering results from a qualitative study of global retailer
that scrutinized the means through which retailers organize their worldwide retail businesses.
International retailers are along with the largely flourishing and creative of global retailers
(Dawson, 1994; Doherty, 2000; Moore et al., 2004) and the globalisation of this division is
focussing growing attention to research (Moore et al., 2000; Doherty and Alexander, 2004).
The mainstream of this paper highlights the significance of external forces in motivating
global development and the possibility of adopting a specific business tactic. It will also be
analyzed during the course of time whether the inspirations and obstacles to international
retailing and the inclination for standardisation or adjustment have transformed through the
environment (Evans et al, 2007). Along with concise literature review of significant research
on global retailing, worldwide retail franchising and domestic franchising will also be
determined.
Internationalization of retailing:
Bearing in mind the growing stage of worldwide actions by retailers because they look for
prospects in new geographical markets, it is not amazing that there has been a proportionate
increase in educational attention on international retailing. A significant study has been
reviewed in the modern texts available on the theme of global retailing (Alexander, 1997;
Sternquist, 1998). During the recent age there has been substantial attention in the
globalisation of retail functions from both practitioner and scholastic equally (Dawson,
1994). Therefore, a well recognized understanding currently exits covering such arguments as
the purposes for global growth (Alexander, 1990), the degree and course of global retail
action (Pellegrini, 1994; Sternquist, 1997) and individual organization skills (Clarke and
Rimmer, 1997). When we consider the entry mode options accessible to international
retailing firms, franchising has demonstrated as a progressively more accepted form of
3
operation in the current period (Burt, 1993). Franchising can explained as a large diversity of
business activities, however the modern franchise structure generally in exercise is called as
the business format franchising (Quinn and Doherty, 2000). Franchising has previously been
a preferred approach of development among service sector organizations, predominantly the
business of fast food restaurants (English and Willems, 1992).
Although, a varied array of retail companies is now conscious about the benefits for global
expansion which the strategy for franchising may possibly bring. So, this approach was
implemented by niche retailers suck like Benetton and Body Shop and some others such like
GIB (Belgium), Casino (France) and UK stores, for example, Marks & Spencer and BhS,
everywhere it was used as the only sort of entry methods (Quinn and Doherty, 2000). It is
also observed that global retailers are progressively more using franchising as a method of
business in overseas markets, but the researchers has merely started to scrutinize international
franchising inside the framework of internationalisation retailing (Sanghavi, 1991; Doherty
and Quinn, 1999). Apart from the effort of Doherty and Quinn (1999), there is no any
significant hypothetical examination or clarification of global retail franchise practice.
International and domestic franchising:
Unlike the domestic franchising, the international franchising has got inadequate educational
interest. But, the research work primarily obtained a behavioural perception, exploiting the
exporting and worldwide marketing literature (McIntyre and Huszagh, 1995). Furthermore, in
spite of the development in the practical utilization of franchising for global retail
organizations, consideration to the globalisation of retail franchising has been comparatively
inadequate (Manaresi and Uncles, 1995). The research for global franchising has been
subjugated with studies that observe how the companies which fabricate home franchising
businesses consequently take their experienced franchising businesses into the worldwide
4
market (Sashi and Karuppur, 2002). Research on international franchising has also studied a
variety of problems from the modes that franchisers use to develop globally (Mendelsohn,
1992).
While international retail franchisers seek a franchisee margin and payment in return for the
sale of a product in that particular store through their retail company’s store and brand
franchising concept. The issues that have been addressed within the increasing literature of
franchising international retailing are comparatively narrow (Doherty, 2006). It is also
observed that entry method choice of global retailers from the transaction point of view of
expenditure and agency theory. The researcher here argued that agency theory can assist in
describing why global retail organizations decide licensing and franchising at what time of
entering global markets (Doherty, 1999). Whereas another writer has presented an in depth
review of the merits and demerits of entry modes for the global retailers and his effort is
explanatory that does not use primary research (Dawson, 1994).
When we search literature, we can find that the work on globalization of United States
franchising is overwhelmed the literature. Furthermore, understanding in this piece of
research is the perception that franchisors are globalizing the previously tried and
experienced franchise conception. Some researchers also probing the features that may
manipulate a previously practised franchise company to globalise its franchise perception. It
is also emphasized that usually retailers do not prefer to franchise in the home market and
hence, they utilize franchising simply to go for globalization (Quinn and Alexander, 2002).
Considerably, no any particular work on this perspective is emphasized on the worldwide
franchising actions of retailers. literature review has exposed that despite a range of problems
have been concentrated on the field of global retail franchising except no any work has
scrutinized practically about the concern what stimulates retailers to globalize by using
5
franchise approach, regardless of this being a repeated argument of majority of the global
franchising study.
International retail joint venture:
Another most commonly used method of internationalization is the international joint
venture. Study of global retail literature shows that global retail joint venture action remains
least discovered part, not slightest than the expressions which must be used to explain this
experience. On an inspection level, nominal research has conducted to the level and extent of
global retail joint venture activities. In the period of 1980s, research explained the evident
function of global retail joint venture along with ‘encourage internationalists’ on that time
(Treadgold, 1988). In around more than three decades global retail joint venture demonstrated
accepted, mostly in 1960s (Burt, 1993). Many studies of global retail movement in some
countries also acknowledged significant improvements in joint venture activities throughout
the early 1990s. A study also established that a considerable altitude of global retail joint
venture departures happened in the grocery retail sector of the Europe (Burt et al 2004).
Internationalization of the retail joint ventures is defined in the most comprehensive manner
that the company which enters in the international retailing contributes mutually in the
process of entrance among another company with the effect consequential to the new
business (McGoldrick and Ho, 1992). This particular definition Highlights the infant or the
new firm but ignores describing among the different levels of joint venture possession
composition, the quantity and nature of the colleagues concerned, and how they will modest
and figure its improvement. In contrast, another researcher described that ‘joint venture is not
simply a combined possession, but it is also said to be a give and take progression that stands
on the replace of resources’ (Hyder, 1999). On the other hand, joint ventures offer chances
for the firms to exchange knowledge that has become communally surrounded during the
6
passage of time. Ultimately, this definition presents little implication of the types of joint
venture movement.
Instead, a long array of defining the concepts of international joint ventures is also available
in the academic literature. For example, joint venture is defined as ‘a company that has more
than single parent’ in conjunction with the global complication that ‘one partner may be
situated out of the country in which joint venture will happen’ fetch to joint ventures (Zhang
and Rajagopalan, 2002), to the existing equity viewpoint in which every partner have at least
five percent as a compulsory situation (Beamish and Kachra, 2004). Such a long array of
definitions in the academic literature possibly replicates the appearance of the joint venture
trend. In this regard some other researchers have recognized the causes establishing joint
ventures, but these writers did not investigate these inspirations in more details. For example
getting hold to new geographical markets (Dawson, 1994), helping resolve tricky problems
and employing management (Knee, 1993), getting entrance to the entrepreneurial talents to
obtain retail units and to ease site gaining (Dawson and Henley, 1999), creating a retail trade
name and store representation in a new market (Burt and Sparks, 2002), protecting national
political and trade situation control and starting associations with family owned companies
with powerful retail operation identification (Wrigley and Currah, 2003).
This restricted outline of the enthusiasm for starting global retail joint ventures recommends
that there is still a need for a strong and deliberate debate on the context of motivation of
global retail joint venture. After acceptance of this statement that still fewer is identified
about the sudden pressure of global retail joint venture practice, then it will eventually be
helpful to think about the related influences of worldwide retail situation on global joint
venture creation.
Internationalization through wholly owned business subsidiary:
7
This is another form of entry mode discussed in the literature. As compared to the
international franchising, wholly owned entry approach permits for superior
participation/management and income than that of franchising, whereas franchise is valuable
because it decreases the investment needs for the persons who franchise. Management refers
to the ability to influence or guide the actions or functions of an overseas subsidiary, while
participation refers to the extent of particular market professional and economic resources
dedicated to an overseas subsidiary through a company (Erramilli and Rao, 1990). Here the
participation is compatible to the control due to the very tough relationship between a firm’s
extent of participation in an overseas subsidiary and the control of the company’s subsidiary
(Anderson and Gatignon, 1986). Hence, it is argued that the more participation the
international retailer get, the more the probability that retailer will adopt the entry method of
wholly owned business. In addition, the advanced information diffusion danger the
international retailer observes, the further the retailer will desire to choose the wholly owned
business method of entry.
The existing resources to the international retailers are varied across companies and
improperly mobile. Moreover, the resources are constantly collected and their accessibility
and capability depends upon the culture or country. The resources suck like finance,
knowledge and professional resources possessed by an international retailer could be
accessible or adequate for launching a full possession of subsidiary in an overseas market, but
at the same time, these assets might not be sufficient for entering the overseas market through
wholly owned business method (Park and Sternquist, 2007). In case quick growth is required,
the retailer can exercise the joint ownership methods of entry in order to attain balancing
resources. Studies also sustained this interpretation through a judgment that companies
inclined to decide joint ownership mode of entry to obtain required resources (Delios and
Beamish, 1999). It is also believed that due to the shortage of expected or forecasted
8
resources, a lot of international retailers with modern thought may have to rely upon
franchising method for quick growth in the worldwide markets, although the retail assets of
them persuade the complete control of the entry method. In case the retailers are affluent in
relational and lawful resources, an international retailer will desire to choose contractual
method of entry since they previously contain the proper resources for adopting contractual
entry method and might sustain nominal costs throughout market entry.
Internationalization through licensing:
Licensing explains the rules and policies that restrict the service prerequisites to persons or
entities that fulfil the criterion established by the state. Regardless of argues that licensure
enhances the value of service, the results of licensure on utilization excellence is unclear. The
statement that the service supplier aggressively encourage licensing usually took to the doubt
that licensing rewards them at the cost of service providers (Svorny, 1999). Rubin (1980)
explained the past examples in western regulation that provide direction to recent licensing
regulations not only in United States but also other European countries. Most of the practice
in licensing agreements is found in pharmaceuticals and physicians. Practise to give license to
the physicians was started in the US when the American Medical Association was established
in 1846 and until that period of time the entry into the industry was almost unobstructed
(Hogan, 1983). Texas was the very first country to pass licensing regulations in the US in
1873. As compared to the other entry methods, licensing increased the cost of entry because
it requires investment from one class to the other. Licensing also requires substantial training
and education. It can also be mandatory for the participants to take and accomplish a
qualified program that contains particular time and content features. The unambiguous
expenses of that investment comprise the costs for books and education, except the major
expenditure is typically implicit that means the opportunity cost of time suffered by applicant
(Svorny, 1999).
9
Supporter of licensing usually argued that customers have inadequate knowledge to decide a
suitable choice from the suppliers available to them. This type of knowledge is considered to
be asymmetry by some firms to be curiously powerful in the markets of health care,
mitigating entry obstacles in the medicine market (Trebilcock, 1976). Many researchers
blamed that licensure does not generally provide quality services. Study of consultant quality
revealed huge proportions of persons in the market who do not meet principles set by the
researchers. The results from these studies disclosed that licensure failed to guarantee the
quality of service (Hogan, 1983).
Enthusiasm for going global:
The forces that motivate the retailers to globalize their businesses have been sorted in
different behaviours most popularly include internal and external motivations (Vida and
Fairhurst, 1998), proactive and reactive forces (Wrigley et al., 2005) and push and pull forces
(Alexander, 1997). Reactive and push motivations are normally related to negative
characteristics in a home market, whereas proactive and pull forces are normally correlated to
positive features of the offer or the overseas market. Overall, drivers of global retailing have
included both the external as well as internal forces suck like resources, organization
attention and proficiency, corporate culture and comparative advantage of the retail and even
some environmental forces such like dimension of the overseas market, political, social and
economical circumstances in home as well as overseas markets, diffusion of the home market
and actions pursued by the rival firms (Alexander, 1997; Moore et al., 2000; Salmon and
Tordjman, 1989).
On the bases of conventional assumption, it was believed that companies started with a solely
domestic focal point and then due to the diffusion in the home market or voluntary attention
from overseas markets, started to develop increasingly (Nordstrom and Vahlne, 1994). This
10
recommends that retailers could simply follow global development once they had used all of
the chances for expansion in the home market. However, it is also obvious that numerous
retail companies together with UK based companies Debenhams and Tesco, all together
practise both home and global expansion opportunities. The Uppsala model of globalisation
too recommends that the globalisation of any company is an incremental method in which
companies primarily go into the markets that seem psychically identical and consecutively
grow into further remote overseas markets. The statement that the emotional closeness of
overseas markets to the home market discloses growth decisions have been confronted
through the effort of Evans et al. (2000).
The environment in home market is much important in retail globalisation as study in the
previous decade has shown a rising drift to the control of proactive external and internal
forces. It is also significant to reintegrate these forces as sole opportunities, forecasting for
expansion, size of the market and the exceptionality of the retail offer (Alexander, 1997).
It is found in a review of retail companies that the volume of the foreign market, niche
opportunities and stage of economic richness were the largely quoted forces of motivating
retailers towards globalisation. Most considerable determinants of global retailing include
knowledge of the global market, company’s experience of internationalization, size of retailer
and behaviour of the management. This viewpoint of the comparative advantage is also
dependable with Sternquist’s (1997) function of Dunning’s diverse structure to describe retail
globalisation.
It is also found that the shift from private possession to public possession of fashion design
houses was associated with the finances mandatory to utilize the global potential of their
brands (Moore et al, 2000). The international demand of the brand name provides motivation
to the higher management to discover the chances that are there in overseas markets. The
11
individuality, individual dealings and worldwide image of the retailers are used to be
influential in the choice of going global.
Barriers to the internationalization of retailing:
Along with the discussion on motivation for global retailing a plenty of concentration is also
required to the barriers of globalization. Barriers to global retail growth have been
characterized in two groups that include the forces that obstruct the beginning of overseas
expansion and barriers to the globalisation course of action. The initial group of forces
frequently exist in the company and relay to a shortage of finance, information and overseas
market relations adding up to management’s approach to overseas growth and the awareness
of risk linked to globalisation (Salmon and Tordjman, 1989). In addition five hurdles to the
globalisation have been recognized that include fiscal obligation, density of global markets,
market knowledge, management assets and control of brands. Most of the forces therefore
ease the SME retailers to critically consider the global extension as a potential tactical
direction (Hutchinson et al, 2006). This progression of barriers usually highlights the further
environmental features.
The available literature on global retailing has also discovered these forces as the inhibitors to
the range and speed of overseas market growth and these forces include complexity in
distribution activities, variations in foreign exchange rates, government rules and political
and economic insecurity (Alexander, 1997; Vida and Fairhurst, 1998). The increasing activity
of study in the field of global retail divestment has already recognized a series of forces that
hamper the globalization process. Another research work also emphasized a structure
comprising of four forces that play important part to the collapse of global retail process.
Collapse in a specific market is linked to the stability and threat of the overseas markets, the
failure to move functioning methods and practice to the overseas market, competitive
12
malfunction involves the deficit of the retail procedure as compared to the rival firms, and the
firm’s collapse that relates to the home market which is the consequence of problems in the
domestic market (Burt et al., 2003).
Barriers in global retailing have also been correlated to the complexity faced in the home
market and the consequential attention to the resources available to firm’s management.
Potential weaknesses in the higher management executives with proper understanding and a
shortage of commitment to the overseas businesses are also acknowledged as crucial forces in
global retail barriers (Burt et al., 2002). According to the above literature divestment is itself
the most important concern among the retail collapse, moreover, the problems that participate
to a proposed divestment decision could be believed as the barriers to more global
development. The problems faced by the overseas market as well as the home market can
delay the tempo of market saturation and can also slow down the company’s capability to
penetrate in the succeeding markets.
Some studies also suggest that there are some factors that can play role in restraining as well
as accelerating the activities of globalization. Spiritual distance, for example, is usually
analysed as a restraining force where companies at their premature phase of globalisation are
unwilling to penetrate in markets which are diverse as compared to their home market. It is
also argued that the observation of variation can persuade the firms to enter the market. It is
recognized to the aspiration of retail companies based in aggressive and established markets
to search for the chances in least urbanized markets (Evans et al. (2000). Some forces can
perform double functions. Another study shows the character of investment banks which they
performed in the procedure of global retailing. In this study it is observed that the banks can
limit the growth actions of the retail companies, however they can as well perform as a
channel to support retail globalisation. It can essentially be classified as the obstacles or the
driver, however the existing study has inclined to generalize the functions performed by the
13
internal and external forces. Likewise, it is believed in the future that the barrier to retail
globalisation will vary in terms of their importance and affect as environment gradually
revolutionized, firms develop and executives discover from their earlier mistakes.
Conclusion:
To sum up, it is clear that the international retailer who has exceptional abilities is thought to
recognize more rewards as compared to the retailers who have exceptional ideas. The
retailers who have considerable abilities to manufacture and control their products are
believed to support wholly owned subsidiaries for international development (Park and
Sternquist, 2007). Throughout analysis a series of environmental and organizational forces
have also been identified to stimulate the option of franchising to enter the global market as
fashion retailers. The economic benefits of franchising, unlike the other substitute entry
modes of globalization are revealed to be important while making a choice .But in contrast if
a retailer has sufficient relationships and lawful resources and missing adequate finances, he
will go for franchising. And licensing is thought to be the most risky because it requires
education and coursework and involved an absence of quality assurance (Svorny, 1999). This
paper also revealed that most of the qualified retailers in global environment encouraged the
companies to support their global strategy regarding franchise method when they go global.
That is why the global retailers believe that franchising suggests a helpful way to tackle
majority of the complications faced in international business. Though, this document clarifies
the forces that inspire the retailers to go for franchising globally. It is also obvious that the
appearance of franchising has happened many times due to these forces (Doherty, 2006).
When we talk about the motivating factors for the internationalization of retailing, the main
force for retail globalization is found to be the income growth. Although, growth is also
recognized as a most important pull factor for the global retailing (Alexander, 1990). Growth
14
by global extension was given the first priority in reaction to the diffusion of home market.
On the other hand, international expansion is also viewed as part of the practical business
attitude for continuously looking for recent chances to enhance turnover effectiveness. These
views also support the categorization of global fashion retailers (Wrigley et al. 2005).
The study also revealed that the hurdles to launching the global retailing usually exist inside
the company itself. Shortage of supervision and devotion, narrow global professional
understanding and inadequate communications are the most common problems which stop
the companies to develop business activities into more overseas markets (Evans et al. 2007).
It is amazing that the unstable political and economical factors of several global markets are
not acknowledged as a most important obstruction to overseas expansion. But the legal
environment appeared to be crucial because it can discourage an entry into a specific market
as well as can obstruct the entry to overseas market.
Finally, this paper also highlighted the problems faced by the retailers during their activities
of going global. Retail firms come across a series of challenging matters in organizing the
joint venture with global partners. The most important discussion is associated to tactical and
operational problems, organizational associations, required financial resources and
incompetence of the partnering firm. Hence, some additional issues have also been analysed
by Owens and Quinn (2007) that includes the variations in the corporate and national culture,
the instant and proper execution of the retailing procedure and some environmental factors.
The study overall highlighted the main differences and importance of different entry modes
that are available for the retailers seeking for going global. Another aspect covered in this
paper is the problems faced by the international retailers during their globalization procedure.
Additionally, owing to the long array of barriers, motivations suck like international
expansion and global recognition as well as growth in the firms’ profits at large augmented
the enthusiasm of retailers to enter the overseas market.
15
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