Expert Answer:Grantham University Cultural Differences Exchanges

  

Solved by verified expert:https://glife.grantham.edu/Username:ccromwelPW: Mash25Now that you have your approved idea for the project it is time to begin the second part of the project, which builds on Project Part 1. Using the same company of choice that is proposing an expansion opportunity overseas, conduct research on the country. Specifically focus on the culture and cultural exchange. For the culture, review the web site http://geert-hofstede.com/ to compare the cultural differences between the countries. Identify the cultural differences and consider the cultural exchange. In addition, research and choose the best distributions method: Product/Market, Pricing, and Positioning.Identify the following:Cultural differencesCultural exchangeDistribution MethodsSubmission Requirements:Submit a two- to three-page Word document using 12-pt. font and APA formatReferences must be found in the Grantham University online library. Only the body of the paper will count toward the word requirement. Please see rubric below.Final Project – Proposal For Expansion OverseasSubmit your work in the “W4 Dropbox for Capstone or Internship” found in the W4 FolderGrading Criteria AssignmentsMaximum PointsMeets or exceeds established assignment criteria40Demonstrates an understanding of lesson concepts20Clearly presents well-reasoned ideas and concepts30Uses proper mechanics, punctuation, sentence structure, spelling, and APA10Total100
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Running head: KFC IN FINLAND
1
KFC in Finland
Clayton J Cromwell Sr.
Grantham University
KFC IN FINLAND
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Overview of KFC
One of the most recognizable brands in terms of selling fast foods is Kentucky Fried
Chicken or commonly referred to as KFC. It was founded in the year 1952, though the idea of
the company dates back to the year 1930. Over the existence of the company, it has been
successful in the serving of fast food in the form of fried and grilled chicken even though it
offers other options such as salads and sandwiches. As time progresses, the company has
continued to grow and has opened many branches all over the world in over 80 countries.
Additionally, with expansion, the company has been able to adapt their menu to suit different
geographical areas.
Initial analysis of growth opportunity In Finland
In this case, the country of choice for KFC is Finland. In this case, the initial study shows
that the company could have an excellent opportunity for expansion. This is because the Finish
economy is on an upturn and hence people are likely to increase their spending habits
(Euromonitor, 2018). That will extend to the fast-food industry. Additionally, a majority of the
Finland population are in the middle class meaning that they are high consumers. That may work
to bolster the sales of KFC in the case it was to open its door in the country. Another factor that
increases the potential for growth for the company in Finland is the penetration of technology. In
this instance, many people in this country have access to the internet and smartphones. That will
likely affect the growth of KFC positively. Notably, it will enable mobile ordering and home
delivery which is a large part of the business model of KFC. Furthermore, it will also assist in
advertising efforts through digital platforms. The other aspect that improves the growth
opportunity of KFC in Finland is labor. In this instance, the workforce is readily available, and
this will mean that the operations of the company will go on without hitches. Also, the brand
KFC IN FINLAND
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name is likely to give an edge in the Finnish Market. Over and above, the initial growth analysis
for KFC in Finland is great, and hence the company should proceed with the market entry.
The Mode of Entry
The method that will be used by KFC to enter the Finnish market is franchising. This
strategy will be effective because of many factors. Firstly, it will create ease in the manner that
the business is managed. For instance, the franchisor will be responsible for the day-to-day
running of the organization in terms of staffing and management of general activities. Secondly,
it will reduce the cost of market entry (Siebert, 2015). Notably, for the case of this market entry
strategy, it will enable KFC to grow using the resource of other people. In this instance, the
franchisee meets the cost of the business and also collects the income, the company will receive
franchise fees and royalties and hence creating a win-win situation. Thirdly, using franchising
the risk of business failure of highly reduced. The franchise will have learned from similar
endeavors, and therefore it will have a list of the dos and don’ts when it is entering the Finnish
market. Fourthly, it will enable the company to compete with other established fast food brands
in the country. That is because it will lead to the creation of networks quickly. Lastly, with this
mode of market entry is KFC will not have to spend a lot of time identifying the effective
managers for the outlets.
KFC IN FINLAND
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References
Euromonitor. (2018, May). Fast Food in Finland | Market Research Report | Euromonitor.
Retrieved from https://www.euromonitor.com/fast-food-in-finland/report
Siebert, M. (2015, December 4). The 9 Advantages of Franchising. Retrieved from
https://www.entrepreneur.com/article/252591

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