A crucial question for entrepreneurs starting a small business, particularly in a foreign state, is selecting whether or not franchising is the appropriate style of entry. Franchising offers the entrepreneur instant brand recognition, established business processes and supply chains, regulatory and tax guidance together with a ready supply of help in the early months; yet, it deprive the entrepreneur of what many of them desire - the aptitude to make and grow a business from one's imagination.
The two entrepreneurs in this instance had routine salaries, but needed to try their hands at starting a coffee shop - or a chain of coffee shops - in South Korea, which already had many brands with multiple outlets. This case is appropriate to be used in company courses and international marketing or entrepreneurship, management strategy to introduce style of entry selection and product/service distinction. It provides a practical example for pupils to understand how a way of entry choice impacts competitiveness in a mature market section in a geographical marketplace that is mature.
The case can help attain these goals as it 1) Supports students to learn more about the unique challenges that entrepreneurs face in market selection, manner of the entry, product/service offering and brand discrimination strategies; 2) exhibit that these serious decisions - market assortment, mode of entrance, distinction, etc. - are not linear decisions to be made one after another, but instead bits of an integrated strategy that have an impact on each other; 3) Allows pupils to be creative in looking for ways to differentiate a product or service that's a late entrant into a mature marketplace.
Trying to Create a Stir Opening a Coffee Shop in Korea Case Study Solution
PUBLICATION DATE: March 02, 2011 PRODUCT #: W10022-HCB-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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