for this P6 I will be explaining what business strategies the Media Markt could use when going
international. The strategies that I will be explaining in this P6 are: co-produce, human resources,
technology and joint venture.
Co-producing will be a good strategy for the Media Markt to use then going to Panama. But as the
Media Markt doesn’t produces products like phones or computers itself they can save money on for
example co-producing the interior of the stores with an company in Panama. This can be done when
for example the architects of the Media Markt will come with designs on for example the desks
where are the products are displayed and a company in Panama will put the desks together.
human resources is also an very important strategy when it comes to operating the Media Markt
internationally. There can be a few problems when it comes to human resources. One of these
problems can be the time and money that goes into the training of the new staff. Because when
opening a store of the Media Markt in Panama
there needs to be a supervisor in each store.
These supervisors need to be trained to for
example know the business strategies of the
Media Markt, know the vision and mission of the
Media Markt and how to train your staff. This all
needs to be explained by someone that has been
working at the Media Markt for an extended
amount of time.
Technology is of course very important to the Media Markt because they sell technological products.
But when going to a country that hasn’t got as much technology as we have over here in Europe the
Media Markt can bring our knowledge about technology to Panama, this is called the transfer of
technology. briefly explained transfer of technology means that for example a big company like the
Media Markt can transfer their expertise and knowledge about technology to Panama when going
there. The technology in Panama can favour the Media Mark in a way that the people don’t have as
much technological products at home, this will open a whole new market for the Media Markt, so
the chance to sell a lot of products in Panama. That the Panamanian people haven’t got as much
technology has we have over here is also a disfavour for the Media Markt, this as said before, will
disfavour the Media Markt because the people don’t have the knowledge to go and work in the
Media Markt if they haven’t got tech products their self’s.
A joint venture is when a companies (two or more) decide to create a new company by working as
one organisation. Within this organisation the companies need to contribute together on the
financial side of things. A joint venture can be a good strategy for the Media Markt to use to
minimise the risks when going to Panama. The risk is minimalised in a way that the Media Markt
won’t be fully responsible when it comes to the finance. This will decrease the chance that the
European side of the Media Markt may be effected when the Media Markt in Panama will turn out to
be a flop. A joint venture can also be the perfect solution to compete with competitors because you
will work together with them instead of competing. With this joint venture you will split the profit
with your competitors but the chance of surviving in Panama will increase, and it of course will
increase the brand awareness of the Media Markt.
Name, Class, Student no, date , BTEC Nationals in Business, Unit 1 Business Resources 2015-2016
1
international. The strategies that I will be explaining in this P6 are: co-produce, human resources,
technology and joint venture.
Co-producing will be a good strategy for the Media Markt to use then going to Panama. But as the
Media Markt doesn’t produces products like phones or computers itself they can save money on for
example co-producing the interior of the stores with an company in Panama. This can be done when
for example the architects of the Media Markt will come with designs on for example the desks
where are the products are displayed and a company in Panama will put the desks together.
human resources is also an very important strategy when it comes to operating the Media Markt
internationally. There can be a few problems when it comes to human resources. One of these
problems can be the time and money that goes into the training of the new staff. Because when
opening a store of the Media Markt in Panama
there needs to be a supervisor in each store.
These supervisors need to be trained to for
example know the business strategies of the
Media Markt, know the vision and mission of the
Media Markt and how to train your staff. This all
needs to be explained by someone that has been
working at the Media Markt for an extended
amount of time.
Technology is of course very important to the Media Markt because they sell technological products.
But when going to a country that hasn’t got as much technology as we have over here in Europe the
Media Markt can bring our knowledge about technology to Panama, this is called the transfer of
technology. briefly explained transfer of technology means that for example a big company like the
Media Markt can transfer their expertise and knowledge about technology to Panama when going
there. The technology in Panama can favour the Media Mark in a way that the people don’t have as
much technological products at home, this will open a whole new market for the Media Markt, so
the chance to sell a lot of products in Panama. That the Panamanian people haven’t got as much
technology has we have over here is also a disfavour for the Media Markt, this as said before, will
disfavour the Media Markt because the people don’t have the knowledge to go and work in the
Media Markt if they haven’t got tech products their self’s.
A joint venture is when a companies (two or more) decide to create a new company by working as
one organisation. Within this organisation the companies need to contribute together on the
financial side of things. A joint venture can be a good strategy for the Media Markt to use to
minimise the risks when going to Panama. The risk is minimalised in a way that the Media Markt
won’t be fully responsible when it comes to the finance. This will decrease the chance that the
European side of the Media Markt may be effected when the Media Markt in Panama will turn out to
be a flop. A joint venture can also be the perfect solution to compete with competitors because you
will work together with them instead of competing. With this joint venture you will split the profit
with your competitors but the chance of surviving in Panama will increase, and it of course will
increase the brand awareness of the Media Markt.
Name, Class, Student no, date , BTEC Nationals in Business, Unit 1 Business Resources 2015-2016
1
