This website uses cookies to ensure you have the best experience. Learn more

3 M Proposal Essay

1195 words - 5 pages

MGMT 2102 z3335161 LEUNG MING KAI MELODIEIndividual ProposalSubject area: What entry mode should the company choose to ensure competitiveness, especially against local operators?Introduction to proposalOver the century, 3M Incorporation, an American based multinational corporation, has a long history of operating business in every corner of the globe. Its operations are conducted in over 60 countries, and its products are purchasable through distributors and retailers in more than 200 countries.3M has expanded its business through a number of entry strategy alternatives, such as exporting, partnership, contract manufacturing and acquisitions. This proposal is therefore investigating which entry mode will be best suited for 3M when entering into France from US headquarters that can ensure the highest possible competitiveness against local operators. Three aspects will be discussed to explain the choice of entry mode:Cultural distance between the host and home countryThe domestic environment for the host countryEase of establishing a new businessPotential Risk and Modes of EntryThe choice of method in entering a market has significant impact in determining the competitiveness and survival potential of a foreign venture (Rugman, 2000). 3M should therefore take concerns of the following potential investment risk when choosing the best entry mode in entering France.Cultural DistanceAccording to Kogut and Singh (1988), it is shown that a high cultural distance is likely to result in a more shared-control modes of market entry mode, such as joint ventures. This is because firms entering a high cultural different market tend to perceive a higher level of country and investment risks, which greatly hinders managerial effectiveness and reduce productivity (Hill, 2003). 3M is an American based company, which its company culture is greatly distinct from the French. Take Disneyland in Paris as example, the miscalculation of cultural difference and management deficiency has resulted in a loss of almost $1 billion (Spencer, 1995). One of the most important issues is that, the French, generally, shows resentment of American culture and harbors hostility to American products. In order for 3M to success, shared-control entry mode can help to neutralize the perception of American produced goods, which is likely to lowered the potential cultural antagonism and allow higher profits potential. The Euro Disney case set a good reference for 3M to adapt their products and marketing skills to the needs and customs of the French to ensure its competitiveness within the overseas market.Economical/Political environmentBrouthers and Brouthers (2000) also suggested that the potential profits and risks of an entry mode are greatly affected by the cultural context of the host country. The cultural context should include not only the national culture but also the investment risks associated with the host country's economic, legal and political environment.As a member of the...

Find Another Essay On 3M Proposal

Peer-review measure funding paper

954 words - 4 pages million (Kaiser Health News, 2013). Furthermore, the project proposal successfully highlights the financial implications of reducing pneumonia patient readmission. The proposal states: The financial impact of Medicare readmissions for pneumonia could be significant. According to the 3M analysis of 2005 Medicare discharge claims data, the pneumonia readmission rate is 9.5% which costs ~$7,165 per readmission (Medicare Payment Advisory Commission


3697 words - 15 pages , this represented roughly $300 million to $450 million in surgical fees, and $50 million to $75 million in manufacturers' revenues (based on a price of roughly $500 per set of implants). Dow Corning dominated the implant market, followed by competitors Bristol-Myers Squibb, Baxter International, Bioplasty, Mentor Corporation, and McGhan Medical Corporation (now named, once owned by 3M Corporation).Beginning in the mid-60's, silicone implants


6173 words - 25 pages ]................................................9 PHOTOVOLTAIC POWER GENERATION INTRODUCTION This report is the result of Gale Greenleaf's October 19, 1998 request for proposal. Bill Louk and Tom Penick responded to her request with a proposal, dated October 30, 1998, to continue earlier research on photovoltaic power generation. The proposal was approved and resulted in continued research followed by a presentation on November 30, 1998 and this final

Are tall buildings necessary for London to remain a competitive world city?

2010 words - 8 pages likely to enable London to grow in a controlled and steady manner and maintain its status as a world city. A key part of the plan, the mayor's proposal for high-density towers throughout the city, has heightened the debate between urban planners and heritage groups as to whether the construction of tall office and housing complexes is necessary and/or appropriate for London. Based on recent documents, articles and essays and London's need to remain

Senior managers can be rewarded as much for their contribution to organisational failure as for their contribution to organisational success. Discuss

3276 words - 13 pages outline are subject to the perception of directors. For instance the Marconi's Chief Executive recently secured a £3m bonus as a result of the company paying down some of its remaining debt - debt arising from management decisions that nearly bankrupted the firm and left it a shadow of its former self. Different situations lead to different performance targets. Management decisions regarding failure can be logically said to reflect the perception

Sri Lanka Navy

3780 words - 16 pages weapon systems. Ship can be fitted with a Trebovaniye-M combat information and control system. The system integrates eight T-171 full-colour operator workstations and three central T-162 servers. It manages and controls all weapons on board, develops combat missions depending on the situation analysis and transfers the data to the weapon systems. The frigate can be armed with an eight-cell 3S14E vertical missile launcher for 3M-54E Klub-N anti

Importace of Corporate Governance

3419 words - 14 pages joint study of this topic is due to be completed this month. What targets the PM model may outline are subject to the perception of directors. For instance the Marconi's Chief Executive recently secured a �3m bonus as a result of the company paying down some of its remaining debt - debt arising from management decisions that nearly bankrupted the firm and left it a shadow of its former self. Different situations lead to different

Environment and Sustainability

5863 words - 23 pages that can be used in planning and proposal evaluation. For example, applying the SUSDEV 21 framework to a proposed construction project in an urban area of Hong Kong would cause the planning group to ask how the project and the new structure would affect air quality, water quality, the biodiversity of Hong Kong, driving times and demands on public housing due to the increased number of jobs. If the positive impacts of the project, such as

When the Bubble Burst

1539 words - 6 pages By the time I arrived state side from my second tour in the Middle East the housing bubble had already burst. I noticed a drastic change in the way that many of my friends and family were living. Several of my friends that worked in real estate had sold their boats and seconds houses. My own stock portfolio had lost a third of its value. My sister and her husband had defaulted on their home mortgage leaving them scrambling for a place to live. I

phase diagram

4456 words - 18 pages Introduction: Chemical equilibrium is a crucial topic in Chemistry. To represent and model equilibrium, the thermodynamic concept of Free energy is usually used. For a multi-component system the Gibbs free energy is a function of Pressure, Temperature and quantity (mass, moles) of each component. If one of these parameters is changed, a state change to a more energetically favorable state will occur. This state has the lowest free energy

Revolutionary Work of Art

1890 words - 8 pages Walter Benjamin emphasizes in his essay, “The Work of Art in the Age of its Technological Reproducibility” that technology used to make an artwork has changed the way it was received, and its “aura”. Aura represents the originality and authenticity of a work of art that has not been reproduced. The Sistine Chapel in the Vatican is an example of a work that has been and truly a beacon of art. It has brought a benefit and enlightenment to the art

Similar Essays

3 M Mining Project Proposal Essay

1351 words - 5 pages Executive Summary Summary and Conclusions The proposed 3M mining project would provide measurable benefits to the Shasta County economy. It would also provide much needed revenue to Shasta County, as well as its incorporated cities, and schools. Economic activity would be enhanced through expenditures for construction, maintenance, fees, taxes, capital expenditures, and general day to day operations. Spending by the mine during construction

Case Study:3 M

1200 words - 5 pages , please call 603-646-0898 3M Corporation Founded in 1902, the Minnesota Mining & Manufacturing Corporation (3M) reported sales revenues of $16.7 billion during the year 2000. The company made more than 60,000 products that year. Nearly 35 percent of its total sales, or about $5.6 billion, came from products that had been introduced during the prior four years, and another $1.5 billion came from products introduced during 2000. These revenues

3 M Corporation Business Analysis

3353 words - 13 pages managers. If the manager refuses funding, the inventors can request funding from any other business unit within 3M Corporation. If none of the business units support the proposal, the inventor can take funds up to $50,000 from the corporate office. 3M Corporation awards about 90 such grants each year. This provides the much needed financial support to employees who have innovative concepts and enables them to give shape to their concepts, as a

'intrinsic Motivation: How To Create An Intrinsically Motivating Environment And Stimulate Creativity And Innovation Within Employees Of Technology Sectors.'

7494 words - 30 pages at anytime and offer help or ask for help" (3M Company, 2002). According to Amabile, in an environment where employees are given the opportunity to express and exchange ideas at will, there will be more room for creativity because there is less pressure to conform and greater task perseverance (Amabile, 1997).Conclusion:Before we start the conclusion, we provide you the problem and the project proposal sub-ject matter first to remind you of the