ENTRY MODE AND PARTNER SELECTION IN TURKEY Article

ENTRY MODE AND PARTNER SELECTION IN TURKEY - Article Example Different firms with different times of entry into the Turkish market are highlighted. Specifically, Danish firms have collaborated with Turkish firms in doing business. This is done through establishing joint ventures by the concerned and interested firms. Successful business aspects are highly dependent on strategies. Decisions have to be made and interests into the activities to be undertaken must be clear. In this regard, collaboration with Turkey-based firms is seen as an easier route to operationalize foreign and new firms in Turkey (Beamish & Killing 176). Over and above effective collaborations, management is another critical area to consider. Successful management is an aiding route to business success. This of course must be undertaken within a favorable environment, where in this case Turkey is the environment. Therefore, joint venture mode of entry is fundamental if all market variables are to be exploited, but the right partner combination is of great importance. Firms operate under different goal and objectives. The underlying interest is to minimize costs of operations and consequently maximize business benefits, measured by profitability level. There are reasons why firms targeting the Turkish market opt to establish joint ventures other than seeking to establish individual business operations. It is more likely that there are significant barriers to entry into the Turkish market for a foreign firm and also high competition that is likely to negatively influence new local firms. The joint venture activity therefore becomes a strategic entry option in a bid to realize the expected business outcome by firms in different