In conclusion

In conclusion, every business should try to capitalise on existing opportunities and face threats from the business environment. Since companies are unable to change the external environment they can only respond. However, they can change their internal environment to grasp the opportunities and face threats. Analysing the business environment of the enterprises can be very important for the success and survive in its industry. In addition, each business’s decision requires a cost-benefit analysis. It can help organisation determine which approach is most appropriate and rewarded by analysing each option and avoiding the risk of failure.
Lastly, choosing a market entry mode has a great impact on international business and can be regarded as the leading edge of international marketing (Wind ; Perlmutter, 1977). Herton’s business may be challenged by local businesses, but it is a suitable choice to bring into Taiwan. A joint venture is considered a long-term mode of entry because of the lesser risk and brings more benefits for the enterprise than the initial short-term entry model, exporting used for test marketing new product development.