In the past week, we had the quiz based on chapter 10 and 11. Chapter 10 is based on entering foreign markets and I am really interested in this Chapter. There are three question that when decide to enter into foreign markets: Where, When and How to enter. There is an inherent disadvantage of foreign company is the non-native statues. The foreign company has lack on culture of the host country and the relationship with government. It is the weakness of the foreign company. In addition, the foreign company has liability in the host country such as customers support local firms. The foreign firms should have much knowledge on the culture of host country, which helps the firms against failure to recognize the different cultures between countries.
Secondly, we had a case study based on market entry. It about Sun Life Financial entered to China. Sun Life Financial is the one of the largest insurance and assets management companies in the world. In 1999, Sun Life Financial got the license from Chinese government and entered into Chinese market. Sun Life Financial signed a agreement and cooperated with China Everbright Group. China Everbright Group is a state-owned firm. As a Sino-Canadian joint venture, the firm promotes the communication between two countries. It is a platform that enhances the relationship between China and Canada. In this case study, it includes the history of Sun Life Financial in China and analysis the Chinese insurance. In addition, it mentions the strategies that Sun Life Financial used as well. This case study is helpful for us to do the final assignment which is based on market entry.
We got the mid-term report in last week. I think has a report during the semester is better for students to manage their study. It helps students recognize the weakness on study and reinforce the future study.