Question

Discuss in detail (with examples) major factors to be considered while deciding international partnership

Answer 1

1) Familiarity of offering.

2) Brand recognition.

3) Market landscape.

4) Geographical distance.

5) Cultural understanding.

Answer 2

More comprehensive and comparative businesses are more likely to succeed in choosing foreign joint-venture partners. If a joint venture is required, it's another important factor to choose the right partner. Very few businesses currently claim that they are able to accomplish their goals and objectives on their own, but that they are trying to seek partnership with another business to keep ahead of the global economy of today.

Explanation:

The following are factors to be considered while deciding international partnership

Company strategic planning

• Internal management is the first thing to remember about any organization that the company is going to partner or collaborate with. Internal control enables the company  to assess its current competitive market efficiency, the know-how and competencies of the partnership as well as its financial stability and position, government policy, advantages and risks and most significantly its collaboration objectives.
• This is possible by undertaking a SWOT analysis ( a strategic planning technique undertaken to assist the organisation identify strengths/weaknesses/opportunities/threats concerned with business competition/project planning).

Initial Assessments of the Potential Partners

The initial evaluation of "potential partners" is very critical at this point before going into any specifics or undertaking to prevent some of the risks associated with establishing a partnership, which are the loss of money and time. The following considerations have to be taken into account in this:

1. Objective: The objectives of the 2 companies must be "common & complement" each other.
2. Background: It is necessary to know the history of the companies and to know the records of their "past , present & future plan".
3. Reputation: The reputation of the business is crucial because people prefer to judge you by the organization in which you are employed. Check the "trust & credibility of the people & the "success" of the partnership which they had in the "past". A clear indication must be provided which trust can be built within the connection.
4. Reliability: the business must be commercially reliable.
5. Experience: It also needs to be investigated if they have had collaborative experience in the past, what was the impact, if success or failure?
6. Capital: The company must be financially stable and without issues of credit and debt-free.
7. Culture: A culture which must be read and understood by the future partners. Cultural problems must be resolved in international joint ventures, as contracts vary from one cultural context to another.
8. Structure: The system under which they work, their "mission, vision and values" should also be understood

To know more

Differentiate between contract manufacturing and setting up wholly ...

https://brainly.in/question/10041935