Management strategies and organizational behavior
part 1- 350 words, apa style, 2 peer reviewed references
Your company is going to penetrate into a new market. Using one of your chosen countries( NIGERIA), analyze and choose at least three strategic approaches that you could use to enter the market. (Some of some strategic approaches for you to choose from include joint venture, divestiture, forward integration, backward integration, retrenchment, liquidation market development, market penetration, product development, service development, horizontal integration, vertical integration, concentric diversification, conglomerate diversification, and innovation).
part 2- minimum 350words
GO to the Goinglobal website and look at each of your countries ( NIGERIA, GERMANY, CUBA) to see what it would take for an American to expatriate into each country. SUBMIT your findings.
Answer preview
Part 1: Penetrating into Nigerian market
The company can use several strategic approaches as it seeks to penetrate the Nigerian market. Each of the ways chosen will be determined by the product that will be launched into the new market. The first strategy that the company can use is a joint venture. A joint venture is as a business agreement between two or more companies that come together with the aim of combining resources so that they can achieve a specific goal. Joint ventures have the advantages of being an excellent way of gaining access into foreign markets while being able to reduce the risks involved in the process (Tsang, 2016)…
(800 words)