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Choice of mode of entry: The success or failure in the new market would extensively depend upon the choice of the mode of entry. Globalisation has resulted in the availability of many deferent options for the mode of entry to a new market. These options range from acquisitions and mergers to joint ventures, direct exports, indirect exports, licensing, franchising and alliances. However at the same time globalisation has resulted in intense competition. Therefore, given the intensity of competition the choice is one that should be made carefully taking into consideration as many relevant factors as possible. Keith D. Brouthers (2002) highlights transaction cost, institutional context and cultural context to be the most important factors affecting the decision of the mode of entry. 1. Transactional cost theory: This is one of the most common grounds used to decide the mode of entry into a new market. 'Transaction cost variables are concerned with...

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