1.

Aside from the four countries already in consideration, the country I

personally recommend Genicon to expand into Vietnam. Vietnam is
located in Southeast Asia and surrounded by countries that Genicon is
already located in, or thinking about venturing into such as China,
Thailand, Malaysia, Singapore, and Hong Kong. With Vietnam having an
estimated population of roughly 92 million and a GDP of $194 billion,
this would make Vietnam a hot spot for Genicon to expand into. (The
World Bank. (n.d.). Vietnams population is one of the highest in South
East Asia and is growing at a steady rate, and along with their growth
is also the increase of life expectancy of 76 years old. (The World Bank.
(n.d.). With the increase of population and the average life expectancy
increasing, an organization like Genicon is very much needed and
would thrive in a county like Vietnam. Also included in my quantitative
data is importance of importing in Vietnam. Currently, according to the
CIA World Factbook, Vietnam imports roughly $161 billion worth of
products each year, and electronics is one of the more common
imported items into the country. The medical device industry stands at
about $780 million, and is expected to grow at roughly 8-10% as the
population and need for the devices increase. (Pacific Bridge Medical,
2012). In regards to qualitative data, Vietnam according to The World
Bank, was ranked at 75 out of 177 countries for ease of doing business.
In addition to that, many of Vietnams population speaks English as a
second language which will make it much easier to communicate back
and forth with locals. Below is an analysis of Vietnam through
Hofstedes dimensions.

Power Distance (ranked 70): The power distance is measured as less

powerful members (or common folks) within the country expect and
accept that power is divided. With a score of 70% this means that
much of Vietnams people accept this divided power, and do exactly
what they are told from the higher powers.

Individualism (ranked 20): Individualism is referred to as the degree of

independence people maintain themselves among other people. With a
score of only 20, Vietnam is considered to be a collectivistic society,
meaning they have a long-term commitment to the member of a
group. An example of that can include a family member, relationships,
boss, etc.

Masculinity (ranked 40): A masculinity society is that defined as being

a society that is driven by competition, achievement, and complete
success. Whereas Vietnam is technically considered a feminine society,
given a score of 40%. But a feminine society isnt necessarily a bad
thing, its just that people tend to value equality, solidarity, and
typically conflicts are resolved more easily.
Uncertainty Avoidance (ranked 30): Uncertainty avoidance is defined
as the extend to which the members of a culture feel threatened by
ambiguous or unknown situations and have created beliefs and
institutions that try to avoid these. With Vietnam ranking 30%, they
have a low preference of avoiding uncertainty. Countries like Vietnam
that experience low uncertainty avoidance scores typically see
innovation not threatening and punctuality doesnt seem as important,
and they tend to have a much more relaxed attitude about certain
situations.

Long-Term Orientation (ranked 57): is referred to as how [a] society

has to maintain some links with its own past while dealing with the
challenges of the present and future. With a score of 57, Vietnam is
considered a pragmatic culture. Pragmatic meaning, they usually adapt
to traditions that are easily changed to conditions, and have a personal
perseverance in achieving results. These are great qualities to have in
people of a country.

Indulgence (ranked 35): With a score of 35, Vietnam is seen as a

country that is restraint, where people dont like to indulge on
themselves because they feel as though is often restrained by what is
socially acceptable.

Given the information I found in regards to the qualitative and

quantitative data, I feel as though Vietnam would be a great county for
Genicon to expand into. With a population and life expectancy on the
raise, great exchange rates, and along with a somewhat mid-range
ease of doing business with, I think Vietnam would make a great
foreign market addition for the company.

2. If Genicon was to enter the Chinese market, my entry mode for

recommendation would be franchising. Franchising for a country such
as China would be highly recommended due to the many advantages it
has to offer. Some of the advantages include but are not limited to low
political risk, low cost, allows simultaneous expansion to other parts of
the world (if they were to franchise for other Asian markets), etc.
Because China is considered a communist country and with that being
said, they strict government rules and regulations, this would be a
perfect mode of entry into the Chinese market. Even though
maintaining control over the franchise in a foreign market like China,
having next to none for political risk is almost worth it, considering all
that Genicon would have to go through as far as regulations and high
costs go.
References:

The World Bank. (n.d.). Vietnam. Retrieved February 21, 2017, from
http://data.worldbank.org/country/vietnam

Pacific Bridge Medical. (2012). Vietnam Medical Device Market -

Vietnam Pharmaceutical Market. Retrieved February 21, 2017, from
http://www.pacificbridgemedical.com/target-asian-markets/vietnam-
medical-market/

Hofstedes Information (Vietnam): https://geert-

hofstede.com/vietnam.html