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Distance Still Essay

  • Submitted by: RoseLuoY
  • on August 6, 2015
  • Category: English
  • Length: 5,349 words

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Below is an essay on "Distance Still" from Anti Essays, your source for research papers, essays, and term paper examples.

TOOL

KIT

Companies routinely exaggerate the attractiveness of foreign
markets, and that can lead to expensive mistakes. Here's a
more rational approach to evaluating global opportunities.

Distance
Stiii Matters
The Hard Reality of Global Expansion
by Pankaj Ghemawat

W

HEN IT WAS LAUNCHED IN 1 9 9 1 ,

Star TV looked like a surefire
winner. The plan was straightforward:
The company would deliver television
programming to a media-starved Asian
audience. It would target the top 5% of
Asia's soeioeeonomie pyramid, a newly
rich elite who could not only afford the
services but who also represented an
attractive advertising market. Since English was the second language for most
of the target consumers. Star would be
able to use readily available and fairly
cheap English-language programming
rather than having to invest heavily in
creating new local programs. And by

SEPTEMBER 2001

using satellites to beam programs into
people's homes, it would sidestep the
constraints of geographic distance that
had hitherto kept traditional broadcasters out of Asia. Media mogul Rupert
Murdoch was so taken with this plan especially with the appeal of leveraging
his Twentieth Century Fox film library
across the Asian market-that his company. News Corporation, bought out
Star's founders for $825 million between
1993 and 1995The results have not been quite what
Murdoch expected. In its fiscal year
ending June 30,1999, Star reportedly
lost $141 million, pretax, on revenues of

137

T O O L K I T • Distance Still Matters

$111 million. Losses in fiscal years 1996
through 1999 came to about $500 million all told, not including losses on joint
ventures such as Phoenix TV in China.
Star is not expected to turn in a positive
operating profit until 2002.
Star has been a high-profile disaster,
but similar stories are played out all the
time as companies pursue global expansion. Why? Because, like Star, they
routinely overestimate the...

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