Fall23 IBUS 311-21 Strategy and Entry Mode

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1 Strategy and Entry Mode Company: SunOpta Inc company Country: Indonesia Hser Ku Wah Metropolitan State University Fall 23 IBUS 311-21 International Business Environment and Operations Professor: Corinne Seltz October 29, 2023

2 Foreign Market Entry Strategic Goals Product/ service offerings  To provide and increase sustainability of alimentation via plant-based beverages and foods, organic foods and beverages and organic ingredients. Target market and customer benefits  To provide non-GMO food products.  To provide sustainable plant-based ingredients, foods, and beverages.  To lead the fast-moving industry with better execution than our competitors. Financial aims  Becoming the low-cost operator in frozen fruit via automation, aggressive action and footprint reengineering to suitable selling sizes and general and administrative expenses.  To evolve the portfolio through innovation towards more value-added products. Strategic Objective “The Indonesian plant-based beverage and food industry is fragmented, with numerous regional and international companies competing for significant market share” (Arwanto et al., 2022) . However, SunOpta is strategically prepared to compete effectively with other companies. This aspect will be achieved via product differentiation, which makes its products unique. Also, Sustainability is the core of all operations within SunOpta Inc. Therefore, the strategic objective is to continuously improve social, economic, and environmental performance to impact customers, employees, investors, and the environment positively. The aim here is to create a healthier, brighter, and sustainable future for food and to be a leading food visionary, leader, and innovator.

3 Entry Modes Exports The easier way to get into foreign markets is through them. The way different countries handle exports is different, and companies can choose whether to sell their extra goods to other countries or make goods specifically to send to a certain market. “Comparative and competitive advantage propagate the export business, the ability to provide better products than other countries and the endowment of natural ability” (Tien & Ngoc, 2019) . This way of getting in is quick, doesn't pose many financial risks, and can bring in a variety of income. Joint Venturing As a way to get into the international market, this mode lets businesses work with foreign firms to offer goods and services. “The advantages of this form of entry are that it enables businesses to develop more quickly, make more money and be more productive” (Schellenberg et al., 2018) . Along with that, it lets businesses connect with other delivery networks and discover new markets. Joint venturing is the best way for SunOpta Inc. to get into the market because it lets the company grow quickly, set up shop in the market, and get its products to more customers. It can take time and work to export and sell goods in another country. SunOpta will be able to reach a bigger market, though, if it works with foreign companies. The company also has a well- established distribution channel and a large group of loyal customers, which will provide SunOpta with a ready market for its products and help it beat its rivals.

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4 Strategic Alliance A strategic alliance is an agreement that is written between two or more businesses that they will work with one another in a certain way and for an agreed-upon period of time to reach an objective they both share. Businesses may benefit more from strategic alliances than they could on their own because they give them access to resources they wouldn't have otherwise. SunOpta will need local partners to break into the Indonesian market because they can help them get past language and culture barriers. A smart partnership between SunOpta and Prima Cargo Company, for example, could be good for both of them. Prima Cargo is one of the oldest and most trustworthy companies in Indonesia. It helps with exporting, importing, and shipping within Indonesia. Since SunOpta is an overseen company, it needs someone to get its goods from where they are made to where they are sold. Because Prima Cargo has a good name, it could help the business with this and find its way around the local market. This will help both companies grow in the United States and abroad.

5 References Arwanto, V., Buschle-Diller, G., Mukti, Y. P., Dewi, A. D. R., Mumpuni, C., Purwanto, M. G. M., & Sukweenadhi, J. (2022). The state of plant-based food development and its prospects in the Indonesian market. Heliyon . Schellenberg, M., Harker, M. J., & Jafari, A. (2018). International market entry mode–a systematic literature review. Journal of Strategic Marketing , 26 (7), 601-627. Tien, N. H., & Ngoc, N. M. (2019). Comparative Analysis of Advantages and Disadvantages of the Modes of Entrying the International Market. International journal of advanced research in engineering and management , 5 (7), 29-36.

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