Internationalization is essential for many companies due to the prominent trend of globalization in the global context. Regardless of size, a country's growth often involves natural internationalization. Hence, Multinational Corporations (MNCs) have various reasons for opting for internationalization.
When a company decides to expand internationally, there are clear advantages such as growth, increased turnover, higher profits, and lower investment costs. However, the next step is to select the appropriate strategy for investing in a foreign market. In the case of TopicalCare Group, their chosen investment mode was through acquisitions led by their subsidiary, TopicalCare International. Unfortunately, this approach was unsuccessful for both companies. It is possible that TopicalCare made an incorrect choice of entry mode or a poor location for foreign direct investment (FDI). The focus of this research was to determine potential re-entry strategies for TopicalCare International in the Nigerian pharmace
...utical industry to avoid the risk of another failure. The research aimed to answer several questions: What challenges arise when entering a developing country market and how do they impact entry choices? How do market entry strategies vary in Nigeria considering its continuous development? Does the decision to enter the Nigerian market depend on any specific environmental conditions? Does TopicalCare need to make any organizational-level changes before entering the Nigerian market? Currently, TopicalCare is seeking the most optimal entry strategy into the Nigerian Pharmaceuticals industry.The company is already present in multiple markets worldwide.
The company effectively utilizes its global scale and scope to offer advanced technology. However, can it successfully enter and operate in Africa's largest economy by sticking to its conventional acquisition and development strategy, or will it choose a more international approach by
forming partnerships with local companies to share risks? Regardless of the chosen investment mode, this study aimed to enhance, deliver, and encourage research in the pharmaceutical industry in Africa. The research sought to examine the potential for international expansion of TopicalCare pharmaceutical business in Nigeria and compare different strategies for entering foreign markets while ultimately drawing conclusions on the most favorable reinvestment approach for TopicalCare in Nigeria.
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