The Strategies and Forms of Entrance to the International Market for a Consulting Company

• Main Authors: Chernukha Tetiana S., Bunchykova Tetiana S.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2021-05-01
• Series: Bìznes Inform
• Subjects: international market; strategy; competitiveness; forms of entrance; consulting; projecting
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2021-5_0-pages-48_56.pdf

The article necessitates studying the theoretical and practical aspects pertaining to the formation and choice of a strategy for the entrance of economic entities in the consulting sphere to the international market along with adaptation of certain regularities to the modification of market conditions. The article researches trends, characteristic features and tendencies of the international consulting market in the field of technical design and engineering; outlines key concepts of the industry; presents proportions of this type of business; identifies the dynamics of the market of consulting services on technical maintenance and consulting in the USA and the countries of the European Union. The factors of influence on the international policy of the consulting company for technical design and engineering are analyzed and a block scheme for the formation of an international strategy for entrance to the world market is presented. The stages of formation of the strategy and form of the consulting company’s entry into the international market are defined. The analysis of the level of involvement in various strategies for entering foreign markets allowed to systematize the strategies for entering foreign markets according to certain criteria. As a result of the research, new vectors of strategic approaches to the consulting company’s activities in the international market are allocated, the attractiveness of strategic external business activities is assessed by means of the Delphi method. Prospect for further research in this direction is a substantiation of the market expansion strategy, in which the consulting company can adapt the extant services for new markets. Further development of the era of «consulting 4.0» can lead to the replacement of traditional consulting services.