the boxoffice - market entry in romania
TRANSCRIPT
![Page 1: The BoxOffice - Market Entry in Romania](https://reader030.vdocuments.us/reader030/viewer/2022032700/55d595babb61eb22778b470a/html5/thumbnails/1.jpg)
Katharina, Minh-Thi, Silje, Raphael, Alexandru
The BoxOffice“I’m storing it!”
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Our company
Medium-sized company
Established in Austria
Service: storage rooms
Saturation in the
domestic market
Competition: MyPlace
The BoxOffice“I’m storing it!”
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The International Market ROMANIA
Use knowledge about local culture and mentality
Consumer behavior – 91.7% of household income
No in-house storage possibilities
Cultural profile: Flexible and quick to adapt
Hard working
The BoxOffice“I’m storing it!”
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Power Distance
Individualism
Masculinity
Uncertainty Avoidance
Pragmatism
Indulgence
0
10090
30
42
90
52
20
Hofstede Dimensions
Cultural Profile
Accepting inequalities
Collectivistic society
Preference for avoiding uncertainty
Culture of restraint
The BoxOffice“I’m storing it!”
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The BoxOffice“I’m storing it!”Entry Strategy
Foreign direct investment (FDI): subsidiary
Greenfield investment (bulding, conversion into storage
units)
Consulting company as „experts“:
Find reliable construction company
Risk management: insurance, security system & company
Find qualified local managers
Mr. Caratas as intermediary
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Entry StrategyCompetitor:
Only in Bucharest
Demand still growing
Culture of high Uncertainty Avoidance : Intermediary, consulting company, HCNs
Choose well-known & trusted Romanian security
company
Marketing approaches:
Free trial period
Free moving boxes & service
The BoxOffice“I’m storing it!”
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Board of DirectorsHR Marketin
g
Accounting &
Controlling
Boxes & Maintain
ance
Business Develop
mentRomaniaHR
Marketing
A & C
B & M
Organization chartMr. Zajac Mrs.
Strand Mrs.
Pinczolits
Mrs. Ngo Mr. Caratas
The BoxOffice“I’m storing it!”
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Environmental AnalysisStarting a business
Construction permits Many procedures -> 287,0 days
Electricity 7 procedures, very expensive
Registering property
Getting credit Depth of credit information index Strength of legal rights index
The BoxOffice“I’m storing it!”
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Environmental AnalysisProtecting investors
Strength of protection index higher than in other
E.E.C.
Paying taxes 39 times a year
Up to 43 %
Trade across borders
Enforcing contracts
Resolving insolvency
The BoxOffice“I’m storing it!”
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Possible Communication Problems
Translation
German -> English -> Romanian
Different meanings
High context culture
Meet in person
The BoxOffice“I’m storing it!”
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Time-oriented differences
Polychronic vs. Monochronic
Accept and adjust
Avoid judgemental reactions and stereotyping
Employees should be taught about the cultural differences
Possible Communication Problems
The BoxOffice“I’m storing it!”
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Fear of exploitationInsecurity
Storage insurance Strict regulations of over hours and paymentCorporate social responsibility
Potential Concerns and Solutions
The BoxOffice“I’m storing it!”
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Future development
Outsource to
Romania
HR
Accounting
Call Center &
Customer Service
Expansion to
neighbor countries
The BoxOffice“I’m storing it!”
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Thank you for your attention!!!!
Questions
CommentsFeedback