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Choosing a Strategy for Entering International Markets
Shumilo O. S., Zaika O. V., Harbuzov O. S.

Shumilo, Olha S., Zaika, Olga V., and Harbuzov, Oleksandr S. (2022) “Choosing a Strategy for Entering International Markets.” Business Inform 12:45–50.
https://doi.org/10.32983/2222-4459-2022-12-45-50

Section: International Economic Relations

Article is written in Ukrainian
Downloads/views: 2

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UDC 339.13

Abstract:
Domestic enterprises entering international markets have both problems and many opportunities to improve the efficiency of their activities. The article identifies the reasons why enterprises revise their business strategies and form new marketing strategies for entering the markets. The main ones are: increasing sales; increase in profits; ensuring both short-term and long-term profitability; increasing the capacity for innovation; economies of scale; education; competition; incentives on the part of government. It is noted that the strategy of entering international markets should be based on the principles of the overall strategy of the enterprise and be developed on the basis of an analysis of existing forms of strategies: export, joint venture, direct investment. The existing forms of strategies are considered and their essence is analyzed. Thus, the export strategy is considered as the choice by the enterprise of foreign markets for the promotion of goods, while production remains on its own territory. The joint venture strategy is implemented by combining the efforts of the enterprise with partners of other countries to conduct joint business based on the formation of partnerships and joint business activities, as result of which certain capacities are created outside the country. The direct investment strategy involves investing capital and creating own warehouses, manufacturing and trading enterprises, as a result of which the company becomes fully involved in foreign economic activity. It is proved that for an enterprise that is just starting its export activities in the foreign market, it is advisable to apply an export strategy of indirect exports and choose mediation. The stages of formation of the company’s strategy for entering the international market are presented: defining the mission of the enterprise; formation of goals and objectives; study of the external environment of the enterprise, assessment of the functional components of the internal environment of the enterprise; development and analysis of strategic alternatives, strategy selection; implementation of the strategy in the activities of the enterprise; evaluation and control of the strategy implementation.

Keywords: general strategy, enterprise, international market, export strategy, joint venture strategy, direct investment strategy.

Fig.: 2. Bibl.: 8.

Shumilo Olha S. – Doctor of Sciences (Economics), Professor, Professor, Department of Marketing, Management and Entrepreneurship, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Zaika Olga V. – Senior Lecturer, Department of Marketing, Management and Entrepreneurship, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Harbuzov Oleksandr S. – Masters Student, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

List of references in article

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Lipych, L. H., and Fatenok-Tkachuk, A. O. “Stratehii vykhodu pidpryiemstva na zovnishni rynky“ [Strategies for Entering Foreign Markets]. Kultura narodov Prichernomorya, no. 102 (2007): 146-151.
“Stratehiia vykhodu pidpryiemstva na zovnishni rynky“ [The Strategy of the Company's Exit to Foreign Markets]. https://sites.google.com/site/ctrategiavihodu
Shynkarenko, R. V., and Semenets, V. V. “Sutnist ta osoblyvosti form vykhodu pidpryiemstv na zovnishni rynky“ [Essence and Features of the Forms of Enterprises' Exit into Foreign Markets]. Skhidna Yevropa: ekonomika, biznes ta upravlinnia. 2018. https://chmnu.edu.ua/wp-content/uploads/2019/07/SHinkarenko-R.V.-Semenets-V.V..pdf
Tiurina, N. M., and Karvatska, N. S. Zovnishnyoekonomichna diialnist pidpryiemstva [Foreign Economic Activity of the Enterprise]. Kyiv: Tsentr navchalnoi literatury, 2019.
“Vykhid na mizhnarodni rynky dlia ukrainskoho biznesu“ [Access to International Markets for Ukrainian Business]. Nimetsko-Ukrainska promyslovo-torhovelna palata. https://ukraine.ahk.de/ua/dienstleistungen/markteinstieg
Vasilenko, A. V. Menedzhment ustoychivogo razvitiya predpriyatiya [Enterprise Sustainable Development Management]. Kyiv: TsUL, 2005.

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