Title Formulating International Entry Strategies for World Bank Consulting Projects Through Country-level Competitive Analysis: A Vietnam Case Study
Authors Koo, Bonsang ; Shin, Byungjin ; Yu, Youngsu ; Jung, Jaewon
DOI http://dx.doi.org/10.6106/KJCEM.2017.18.4.057
Page pp.57-66
ISSN 2005-6095
Keywords International Entry Strategies ; World Bank ; Vietnam ; Country-level Competitive Analysis
Abstract Using bidding data collected from the World Bank’s open database, this research performed a series of competitive analyses of the major countries that have participated in the Bank’s engineering consulting services contracts in Vietnam. The goal of the analysis was to evaluate the performance of Korean engineering firms to date, and provide strategic recommendations for future projects. Results showed that Korean firms had a high bid acceptance rate, comparable to major developed countries. The success was attributed to the high technical scores in the selection process. Comparatively, financial scores were not competitive and inferior to developing countries such as China and India. Results of a ‘Skitmore’ analysis revealed that Korea was competitive in medium size projects and were situated between developed and developing countries. Korea thus needs to increase participation in basic and detailed design services, 2) improve labor costs through ‘localization’ and latest technologies, and 3) and venture into larger sized projects.