International Business Management - 2604

InternationalBusinessManagement2604Assignment04-19-2023.docx

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Uber’s Foreign Market Entry Strategy Travis Kalanick got the idea for Uber while trying to hail a cab in Paris. • Kalanick wanted to take advantage of smartphone technology to build a ride hailing app. • The app allowed for GPS tracking, automatic electronic payment, pre-ride display of pricing, estimation of wait time, and driver ratings. Uber’s strategy focused on cities around the globe where demand was likely to be high, picking cities designed as “accelerants” with concentrated needs. • Ignored local regulations in favor of rapid growth and building its own networks. • Strategy worked in the U.S. and Latin America, but not everywhere. Today, Uber has realigned its foreign market entry strategy. fifg/Shutterstock

Ways to Enter Foreign Markets • Exporting. • Licensing or franchising to host-country firms. • Creating a joint venture with a host-country firm. • Creating a wholly owned subsidiary in the host country. • Acquiring an established enterprise in the host country.