E-Ship at TU München

Flashcards and summaries for E-Ship at the TU München

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Study with flashcards and summaries for the course E-Ship at the TU München

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

What are Gazelles and Unicorns

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Explain the following entry strategy and its pros and cons: Broad-scope strategy

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Motivation UMRS – Categorization of RS

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Which foreign market entry modes exist?

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

What makes foreign market entry attractive?

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Which market entry barriers might occur?

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Global model - explain the changes in the 1990s

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

How did internationalization work in the 60s/70s?

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Explain the following growth strategy: Diversification strategy

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Explain the following growth strategy: product development strategy

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Explain the following growth strategy: Market development strategy

Exemplary flashcards for E-Ship at the TU München on StudySmarter:

Explain the following entry strategy and its pros and cons: Narrow-scope strategy

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Exemplary flashcards for E-Ship at the TU München on StudySmarter:

E-Ship

What are Gazelles and Unicorns
Gazelle:
Young company with a certain number of employees and a growth >20% over 3 years

Unicorn:
startup valued at over $1 billion

E-Ship

Explain the following entry strategy and its pros and cons: Broad-scope strategy
Range of products on many markets. Strategy emerges through the information provided by a learning process.

Pros:
+ reduce risks from market uncertaintites

Cons:
– increased exposure to competition

E-Ship

Motivation UMRS – Categorization of RS
Recommender systems as sub-area in personalizaton

Personalization: Personalized system address overload by building, managing and representing information customized for individual users
A respond to the increasing info overload

E-Ship

Which foreign market entry modes exist?
– Exporting
– Licensing (manufacturor gives license to foreign manufacturer; franchise)
– Joint Venture (sharing equity with 2 or more firms)
– Subsidiary (separate, legal entitites controlled by a separate higher entitiy)

E-Ship

What makes foreign market entry attractive?
– Market structure and growth
– price, cost structure
– infrastructure

E-Ship

Which market entry barriers might occur?
1. Institutional barriers as import tariffs or local ownership restrictions or local content clauses for foreign direct investment

2. Market-based barriers through hindered access to distribution systems, problems in finding skilled personnel or customers preferences to buy local

E-Ship

Global model - explain the changes in the 1990s
1. Environment changed to increasingly internationalized industried
2. Products become highly innovative and specialized with shorter life cycles –> unique competitive advantage
3. Markets are often niche segment thus narrow markets neccesitate international growth
4. Management team has increasing international backgroun, experience and mindset with international networks

E-Ship

How did internationalization work in the 60s/70s?
Uncertainty and low knowledge of other markets.
Gradually increasing interationalization after long time of doing business (slowly increasing exports then subsidiaries)

E-Ship

Explain the following growth strategy: Diversification strategy
new product to new market

How?
backward integration (toward raw material)
forwards (toward customer)
horizontal: samel level but differen value-added chain

E-Ship

Explain the following growth strategy: product development strategy
existing market and new product –> same customers

Pros:
+ existing distribution channels
+ existing reputation of the firm

E-Ship

Explain the following growth strategy: Market development strategy
Existing product to new group of customers

– new geographical market
– new demographic market
– new product use

E-Ship

Explain the following entry strategy and its pros and cons: Narrow-scope strategy
Narrow-scope focuses on satisfying a particular need for a smal number of customer groups with a small product range.
Focus:
– high craftmanship
– customized products
– local business operations

Pros:
+ specialized knowledge and expertise
+ reduce competition related risks

Cons:
– increase market uncertainties

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