Scrutiny of factors impacting research

Scrutiny of factors impacting research

Coviello, Nicole E., Munro Hugh J. (1995) state that “Foreign market selection and entry initiatives emanate from opportunities created through network contacts, rather than solely from the strategic decisions of managers in the firm”.

This has been acknowledged as a hypothesis. Hence, to relate to the hypothesis that “a sound strategy to globalize must be created for the firm, keeping in mind the strategic intent, vision and accordingly, the capabilities of the firm, for example – the decision to ‘buy or make’ in the new foreign market”, this work has been referred to. Opportunities to strengthen existing relationships could be explored through strategic analysis, understanding our competences and trying to create a strategic fit when utilizing the established contact to develop business in the new market.

6. Risks and barriers

Cross-cultural variables can impact market research. Tat Keh & Sun (2008) say that “In countries like Singapore, both personal and non-personal risks can influence customer satisfaction indirectly through perceived value. As such, in an individualist culture, service firms should emphasize social acceptance and expression of group values to reduce personal risk and offer post-purchase service guarantees to reduce non-personal risk, thus enhancing consumer value perceptions. As part of their communication strategies, companies should strive to provide high value added services to increase perceived value and, subsequently, consumer satisfaction to enhance their competitive advantage.”

Hence, ways have to be found, to investigate how Realeyes could be better prepared to face Australia launch – both in terms of adopting promotional strategy and looking inward at its ability to sustain customer satisfaction. Perceived business and post-purchase risks in Australia will have to be looked at, whilst Realeyes’ launch. Hofstede’s dimensions have to be visited in order to understand how culture can impact the formation of relationships in business networks (Batonda and Perry, 2003); Hall’s principles on cultural differences will have to be addressed.

Realeyes could deliver services in Australia in the same manner and process as it has been in the UK. But Australian businesses might not have exactly the same expectations from this service, and might even demand more value for their money. For data collection (one element of the business model), the Australian site bears a different set of audience altogether, although culturally similar. The debate of globalisation vs. localisation of business models has been pervasive. Risks are involved in ignoring the importance of business model risk. Moreover, an element of rigidity in the business model is introduced, which might be harmful to the agility of the business model. Hence we hypothesize:

Hypothesis H4 will be evaluated in Section 12.4 of our report (Risk management) by using empirical research findings.

7. Analytical tools and research methods used

Meckl and Schramm (2005) list the usage of various business research theories and methods in their empirical research of internationalization of services, of which we have adopted the ones we think, are necessary for our research.

1. 
   Competitor analysis 1) Structured Phone Interviews
   
2. 
   Network Approach 2) Participant observations
   
3. 
   Product Life-cycle theory 3) Web/Email survey
   
4. 
   Stage theory & Uppsala model 4) Face-to-face interviews
   
5. 
   Risk management theory
   

Table 4 - Various types of research employed

Table 5 - Frameworks employed

8. 
   
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