Assignment on The Business Strategy with Conexia (GC0795)
Executive Summary
Connexion is an IT service company based in Argentina that is providing insurance claims solutions for the healthcare industry in the local market. Although it is facing several challenges in its potential US market, it believes that it has a huge opportunity to maximize its business in the US market. The aim of this paper is to analyze and evaluate different entry strategies and select a specific one for Conexia to enter into the US market. Then, this paper critically analyzes and evaluates the effectiveness of the chosen market entry strategy for Connexion. Finally, this paper suggests the Conexia on how it can effectively apply this market entry strategy in the process of maximizing business within the US market. The finding of this paper come from Coneixa’s website and the case given in this assignment, several books, journals, and websites.
The finding discloses that the chosen entry strategy for Conexia is Joint Venture. There are a number of reasons for choosing this strategy for Connexion. Firstly, this strategy will support Conexia to build up credibility in the US healthcare market. Secondly, this strategy will pursue sales leads with the partner company along with its busies growth. Thirdly, this strategy will provide an offer to Conexia to access greater resources such as capacity, purchasing, employees, markets, technologies, distribution channels, finance. Fourthly, it would be able to create a competitive position in the US healthcare market. Fifthly, Conexia would face fewer risks because the business risk and regards will be shared with the partner company. Connexion will be able to maximize its business, develop new products, with innovative ideas in the US healthcare sector. However, Conexia should concern about its revenue, customer base, and brand establishment because Conexia would be sharing with a reputed partner.
Connexion should take a number of steps to create an effective joint venture in its potential US market. Firstly, it should choose the right partner. Secondly, it should build up a stronger joint venture relationship. Thirdly, Conexia should conduct a valid and reliable agreement with the joint venture partner. Fourthly, it should work on a joint venture to improve relationships. Finally, Conexia should develop ending procedures before conduct an agreement.
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Table of Contents
Executive Summary.
1.0 Introduction.
2.0 Entry strategy for Connexion.
2.1 Why should Conexia go US market?.
2.2 How do firms go international market like the USA?-Entry Strategies.
3.1. Exporting and importing.
3.2. Licensing.
3.3. Franchising.
3.4. Joint Ventures.
3.5. Strategic alliances.
3.6. Direct investments.
2.3 Chosen strategies for Connexion.
2.4 What types of Joint Venture is suited for Connexion.
2.5 How much Conexia is ready for a joint venture.
2.6 How Conexia would be benefited through Joint Venture.
2.7 Potential risk of a joint venture in the case of Connexion.
3.0 Recommendation.
3.1 How Conexia can build up a stronger Joint Venture relationship.
3.2 Choosing the right joint venture partner
3.3 Creating a joint venture agreement
3.4 Making joint venture relationship work.
3.5 Ending a joint venture.
4.0 Conclusion.
5.0 Reference.
1.0 Introduction
Connexion is an IT service company based in Argentina. The key operation of Conexia is to provide insurance claims solutions for the healthcare industry in the local market. It had been gaining success with increased revenue and profit in the local market of Argentina due to its greater service values. Consequently, it decided to maximize its business into the global market by entering within US market. However, Conexia anticipated several challenges in the US market. In addition, the US healthcare industry has been going through several regulatory changes because of disjointed claims processes process US health insurance companies, and lack of brand awareness for Conexia’s RTA products. Connexion still believes that it can provide value for US consumers. Therefore, it has been a challenging issue for Conexia to develop effective strategies and take initiatives to gain long-term growth goals in the target market of the US healthcare industry overcoming the challenges.
This paper analyses and evaluate different entry strategies and select a specific one for Conexia to enter into the US market. The chosen entry strategy for Conexia is Joint Venture. Then, this paper critically analyzes and evaluates the effectiveness of the Joint Venture as a market entry strategy for Connexion. Finally, this paper suggests the Conexia on how it can effectively apply this market entry strategy in the process of maximizing business within the US market…………….
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