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Lenovo: Building a Global Brand
Lenovo: Building a Global Brand
Lenovo dominated the Asia-Pacific markets by crafting distribution agreements. PC division of IBM was acquired by Lenovo. This assisted it in market intelligence, management and technology. The IBM-Lenovo brand was acceded by Lenovo. The latter also obtained the right to operate the Thinkpad trademark.
Businesses that operate in the international business domain can hardly miss to face liability of foreignness. This implies that both social and economic related expenses are faced by firms that have established their operations in overseas or foreign markets (Qian, Li, & Rugman, 2013). Although firms such as Lenovo and Huawei can overcome liability of foreignness in regions they are operating, it is possible for this type of liability to vary for different firms that operate at the same geographical location.
Liability of emergingness can be defined as social and economic costs that business organizations incur at the infancy stage when they begin to emerge in the mainstream marketing platform. When a multinational like Lenovo expands to foreign markets, additional costs incurred are referred to as liability of emergingness. At this point, it is crucial to mention that Lenovo is a multinational firm that has already experienced or undergone massive expansion into other geographical regions (Chen, Hong, Jiang, & Kubik, 2013).
Assets of emergingness are the social and economic resources accumulated from the operations of firms in emerging or new marketing platforms. In the case business organizations that operate in foreign locations, both the liabilities of foreignness and emergingness can be transformed into assets of emergingness by lowering the cost of operation and expanding production. Market expansion in the right direction will lead into profit optimization in any foreign market. In other words, firms operating in foreign locations should strive to overcome both of the above liabilities (Khanna, & Palepu, 2010). The organizational-related costs, customer-related costs and government-related costs should be overcome by business organizations in order to boost asset base.
First, multinationals such as Lenovo and Huawei should meaningfully embrace technology. Firms that utilize the latest technological platforms are in a better position to compete favorably with other market players. As can be seen in the chart below, Lenovo has been shipping the highest quantity of PCs since 2014 compared to other market competitors (Zheng, Wei, Zhang, & Yang, 2016).
As can be seen in the figure below, IBM was the top three more successful PC sellers across the globe. It is crucial to mention that in 2004 when Lenovo was acquiring IBM, the company was not very robust in terms of performance. In fact, it was number 9 among the top ten PC sellers across the globe.
Organizations and corporates have a great opportunity to experience growth in markets that emerge alongside what might be referred to as institutional voids. In particular, firms that are keen in seeking exit strategies from poorly performing markets may find institutional voids and emerging markets to be very fruitful.
Khanna came up with the phrase ‘Institutional voids’ to imply lack of vital instruments of trade in a given market (Institutional Voids, 2013). The stakeholders may include credit card systems and market research firms. Such marketing instruments are crucial in creating a viable link between buyers and sellers. In the case of business organizations that attempt to operate in emerging markets like Lenovo, institutional gaps create myriads of daunting obstacles. The key to successful business growth lies in understanding prevailing voids in any given market and also how to maneuver business activities in the presence or absence of such voids.
When Lenovo expanded to the Asian markets, it faced several institutional voids due to lack of supporting institutions. For example, poor market research coupled with a less rigorous online marketing platform were major bottlenecks in the growth and expansion of the company. Shortly after the PC group was sold to Lenovo by IBM, the latter company began edging out of the hardware portfolio. This gave Lenovo better opportunities for expansion and growth. It can be recalled that for the first time, Lenovo expanded to the Chinese market.