Running Head: JAGUAR AND CHERRY AUTOMOBILES 1

Jaguar and Cherry Automobiles

Name:

Institutional Affiliation
JAGUAR AND CHERRY AUTOMOBILES 2

Contents
External Issues and Trends Driving Jaguar Land Rover And Chery Automobile Company Ltd
Together .......................................................................................................................................... 4
Globalization of their activities ................................................................................................... 4
"Customer first "philosophy ........................................................................................................ 4
Manufacturing Localization and corporate social responsibility ................................................ 5
Areas internal benefits and synergies for both companies are involved and why the Chinese
government is involved ............................................................................................................... 5
With reference to the academic literature, how would you describe this partnership? .................. 6
Access to new markets ................................................................................................................ 6
Gain efficiencies by combing assets and operations ................................................................... 6
To access skills and capabilities .................................................................................................. 7
Shared risk for major investments ............................................................................................... 7
Risks associated with the partnership.......................................................................................... 7
Communication ....................................................................................................................... 7
Strategy .................................................................................................................................... 7
Resources ................................................................................................................................. 8
Culture ..................................................................................................................................... 8
Jaguar Land Rover and the US-based Ford Motors .................................................................... 8
National culture involved ................................................................................................................ 8
Financial Impacts ........................................................................................................................ 9
Cultural Awareness ..................................................................................................................... 9
Corporate Cultures .................................................................................................................... 10
Possible Effects, both Positive and Negative, Of Exchange Rate Movements on the Deal ......... 10
Positive ...................................................................................................................................... 11
Sustainable and Healthy Business Environment ................................................................... 11
Expanded Market Share......................................................................................................... 11
Increase in Foreign Currency Earning ................................................................................... 11
Negative Impacts ....................................................................................................................... 12
JAGUAR AND CHERRY AUTOMOBILES 3

Higher Volatility .................................................................................................................... 12

Use of Scarce Resources to Predict Exchange Rates ............................................................ 12
Tendency to Worsen the Existing Problems.......................................................................... 12
Challenges of Doing Business Internationally .............................................................................. 13
Legal Issues ............................................................................................................................... 13
Cultural Barriers ........................................................................................................................ 13
Political Problems ..................................................................................................................... 14
References ..................................................................................................................................... 15
JAGUAR AND CHERRY AUTOMOBILES 4

External Issues and Trends Driving Jaguar Land Rover and Cherry Automobile Company

Ltd Together

The partnership was established in November 2012 with the two companies, Cherry

Automobile and Jaguar Land Rover coming up with a 50:50 independent venture ad it represents

the first ever Sino-British premium automotive venture between the Chinese and Britons. The

joint venture is dedicated to being one of the leading premium automaker inspiring excellence in

china market especially and to achieve these they have established a world-class manufacturing

plant so that they can be able to deliver to the Chinese market with quality products and service.

As such following are some of the reasons which could be described as the main forces which

have brought the two automobile companies together to establish a joint venture:

Globalization of Their Activities

Over the years, Jaguar Land Rover have been one of the iconic and also most renowned

manufacturer of premium vehicles and this has made the company to be one of the UK's biggest

vehicle exporter, and it is estimated that by the end of 2014, the company was selling its products

in 180 countries worldwide. The company has also established more than 17 national sales

companies around the globe and these pioneering centers have shaped the company reputation

positively as one of the most resilient and steadfast innovators in the automobile industry. The

pursuit of market share especially in Asia brought the company together with Cherry Automobile

which was doing very well in the market formed a partnership, a move which was to consolidate

and strengthen their presence within the local communities specifically in the Chinese market.

"Customer first "philosophy

The two companies have over the years indicated that success can only be possible if you

maintain a strong and customer oriented perspective by providing customers' with the most
JAGUAR AND CHERRY AUTOMOBILES 5

advanced products, by taking their demands and preferences into consideration. As such the two

companies merged to deliver to the Chinese market the customer satisfaction which has been

elusive in the market in terms of quality and innovative products in the automobiles sector for the

years (Gkikas, 2012). At the core of the of the joint venture so formed is the relentless desire to

raise the customer's satisfaction by delivering unto them the very best in the world, which

couldn't be possible if done individually.

Manufacturing Localization and Corporate Social Responsibility

Jaguar Land Rover has been in Chinese market even before they formed their joint

venture, but as described above to better meet the customer's demands they invested hugely by

establishing a new manufacturing facility after approval by the Chinese government. Cherry

Jaguar Land Rover Changshu plant has since been opened and its first locally produced car was

Range Rover Evoque and by 2016 the plant is expected to produce more than three jaguar

models. Corporate Social Responsibility (CSR) has also been instrumental in bring the two firms

together as the two firms believe in CSR, especially the drive to sustainable development which

not only ensures the wellbeing of the current generations but also enhances the ability of the

future generations to meet their own needs (Eccles, Ioannou & Serafeim, 2012).

Areas Internal Benefits and Synergies for Both Companies Are Involved and Why the

Chinese Government Is Involved

Cherry being a Chinese company has access to the market being a local company while

on another hand Jaguar Land Rover has a good reputation and these set of two factors will ensure

the joint venture will be a success. Furthermore, the companies are renowned for their strong

capital base, and this has brought in the Chinese government as the third player as it is dedicated

to ensuring its citizens get the best and also are provided with jobs so that they can lead good
JAGUAR AND CHERRY AUTOMOBILES 6

lives (Hooper, 2016). Furthermore, the Chinese government requires any company purporting to

establish a domestic production unit in the country to partner with a local business, a move

meant to help local industries against the well-established industries so that they can thrive

together as one (Balcet & Ruet, 2011; Van den Steen, 2010).

With Reference To The Academic Literature, How Would You Describe This Partnership?

The internationalization of the automotive industry especially from the emerging

economies has stimulated the formation of partnerships especially with the well established

multinational companies (Berchicci, Dowell & King, 2012). As such, this partnership can be

described to be influenced by the following aspects:

Access to new markets

The main goal of the two companies coming together was to increase their market share

in the Chinese market; for instance, jaguar land rover being a well-established industry must be

keen in expanding its market share to the emerging economies especially in the Asian region.

Gain efficiencies by combing assets and operations

When any two bigger companies join hands, their efficiency is bound to increase and as

such Jaguar Land Rover (JLR) will reap immensely from the deal since it will receive tax

waivers for partnering with a local company from the government. Cherry company, on the other

hand, will benefit from capital, assets, and expertise from JLR and this will enhance the well-

being of the two companies at large.

JAGUAR AND CHERRY AUTOMOBILES 7

To access skills and capabilities

The joint venture so formed will help in the two companies to exchange skills more as it

is on the basis of 50:50 and therefore both have equal chances of making decisions, which will

enhance the capabilities of the two firms.

Shared risk for major investments

By forming a joint venture, the companies has enhanced their profitability as they will be

sharing any losses equally for any investments' failure especially in today's' market where cut

throat competition is experienced in any kind of business establishment. As such the partnership

can be described as one which is meant to share the responsibilities emanating from the

investment especially on marketing the products so that they can be able to sell more.

Risks associated with the partnership

Communication
Both firms may fail to communicate their main objective which prompted them to form

the joint venture which may bring misunderstanding at later stages and this can be exacerbated

by the geographic and cultural distance evident from the two partners in this case (Kärreman,

2010).

Strategy
As the firms are from two separate geographical locations and also they have different

cultures, and as such, they may have divergent strategies for conducting their business as joint

ventures which if not agreed well can bring the firm down (Bredillet, Tywoniak & Dwivedula,

2015). Other risks emerging for lack of consensus may originate from governance,

accountability, decision-making among others even though the companies have equal

shareholding privileges (Bredillet Tywoniak & Dwivedula, 2015).

JAGUAR AND CHERRY AUTOMOBILES 8

Resources
Even though the firms have equal powers in this venture, conflicts may arise especially

from the disproportionate allocation of resources between the firms, particularly where the one

firm may feel it is contributing a lot in terms of technology and technicalities (Gong, 2015).

Culture
Both companies originate from a different cultural background as described above and as

such different management styles, which may result in poor integration and cooperation, may

become bigger hindrances of the efficiency being sought after by the two firms (Minkov &

Hofstede, 2012; De Mooij & Hofstede, 2011 ).

Jaguar Land Rover and the US-based Ford Motors

First, this joint venture has so far been successful as several brands of range rovers series

have been produced and have excelled in the market well unlike the former deal with the Ford

Motors which despite huge progress being especially in terms of quality the cars' market did not

materialize. The failure can be attributed to the fierce competition in the luxury car market at the

time, as when the Ford was concentrating on investing more in Jaguar, BMW was investing

more and was also significantly higher in its own brands than the Ford.

National culture involved

In any business merger, especially which involves two firms originating from diverse

cultural backgrounds, the success of such business partnership is predominantly defined by the

values inculcated in the workplace and most are influenced by the culture. In this instance, the

culture can be defined as the collective programming of the mind which differentiates the
JAGUAR AND CHERRY AUTOMOBILES 9

members of the two companies forming the partnership, in this case, members being the Cherry,

JLR and the Ford (Eccles, Ioannou, & Serafeim, 2012). When Cherry and JLR formed their joint

venture, they came up with a new business model with completely new management since they

had to abide by the government regulation which requires firms interested in investing to form

mergers with the locally based firm. As such, this venture as it is evident has been as far as

successful as they have been able to actualize and serve not only the Chinese market with the

latest brands of Range Rovers but also in other parts of the world. JLR, being a world-leading

automobile manufacturer has the requisite experiences of managing such a situation which have

been enhanced more by the equal powers of both players (De Mooij, & Hofstede, 2010).

Therefore, there exists a mutual trust between the two partners which has been reinforced by the

visions of both firms which are coincidentally aiming to give their customers satisfaction by

providing the best innovative products. Furthermore, both firms being involved in similar

businesses and bearing in mind governmental incentives offered to international companies

willing to invest in the country, the venture automatically had to be a success (Shi & Wang,

2011). As such the national culture can be said to have the following impacts on the two

companies:

Financial Impacts
Both companies have helped the venture to materialize in a very fundamental way as they

funded the project equally and as such, even at decision making, they engage each other in a

consultative way and this ensures progress (Lebedev, et al, 2015).

Cultural Awareness
Both companies seem to have good cultural awareness and this has ensured there exists

good communication among the companies leadership which is instrumental in mobilizing

JAGUAR AND CHERRY AUTOMOBILES 10

resources to ensure the customers' expectations are met by coming up with the innovative

products in the market (Reed, 2010).

Corporate Cultures
Refers to the beliefs, values and behaviors that mostly defines how the company

employees and management interacts and this concept is hugely influenced by national cultures

and traditions, economic trends, company size among others. Globalization has been one of the

main forces which have been responsible for advancing cross culture, a phenomenon which

refers to the interaction of people from different backgrounds in the business world and

environment (Ganescu, 2012). Consequently, culture shock pops in which refers to the confusion

or anxiety people experiences when conducting business in a society other than their own. As

such JLR having operated in china for a few years before they partnered with Cherry, seems to

have gelled well with the Chinese culture which has helped the two companies integrate easily

and start enjoying success in their business. The success has been enabled more by the

progressive policies such as CSR policies adopted by the joint venture to address various

workplace and external environment related issues and this has helped to bring a profound

impact on the venture (Clegg, 2013).

Possible Effects, both Positive and Negative, Of Exchange Rate Movements on the Deal
The deal has profound effects on the exchange rate movements as it has s far proved to be

successful as the joint venture has so far been able to produce some of the iconic Range Rovers

which are doing well in the market globally (Jia & Rutherford, 2010). Following are the positive

and negative effect on exchange rate movement which has emanated from the deal:
JAGUAR AND CHERRY AUTOMOBILES 11

Positive

Sustainable and Healthy Business Environment

The deal represents one of the iconic partnerships we have as it has helped to increase

mobility in the Chinese market as the company is selling its products to different parts of the

world and this has increased free movement of currency in the market hence increasing its

flexibility. The joint venture has helped to create sustainable impacts in the country as it has been

keen implementing different projects which ensure there is an effective and efficient utilization

of resources o ensure there is no wastage (Horberry, Stevens & Regan, 2014).

Expanded Market Share

The deal has helped to expand the market for both players as the case illustrates that the

joint venture has for a very short period expanded its market share not only in china but also in

other countries around the world. As such, the company has been instrumental in ensuring there

is free movement of the local currency and other international currencies which have positively

impacted on the exchange rate so far (Chen & Kodono, 2012).

Increase in Foreign Currency Earning

The establishment has been instrumental in increasing the foreign exchange earnings in

the country as most of the luxury vehicles consumers, especially from developing countries,

mostly prefer to trade with China as most of the products from the country are cheap (Chu,

2011). As enumerated above, this has helped in the expansion of the market which in turn has

shaped inflows from the different region of the world as they import their vehicle from the

country hence helping to bring in foreign currencies to the economy (Williams & Williams,

2010).
JAGUAR AND CHERRY AUTOMOBILES 12

Negative Impacts

Higher Volatility
The deal has helped so far to increase the currency market volatility experienced so far

as, especially the short run volatility in the floating exchange rates, a phenomenon which cannot

be explained by macroeconomics fundamentals (Raisinghani, et al, 2014). Therefore, the deal

has helped to shape the cyclical fluctuation system which negatively influences the free market

but it impacts cannot be detected during the short run period but causes a huge ripple effect in

long run.

Use of Scarce Resources to Predict Exchange Rates

Due to high volatility experienced in most of the financial markets, a lot of resources

have been allocated to predict the changes in the exchange rates so that the risks can be managed

and reduce their impacts on the economy and exchange rates (Vaara, 2010). As such the deal can

view as one of the reasons the exchange rates in the country has not yet settled down as it has so

far contributed to the increase in the currency movement exposing the country further.

Tendency to Worsen the Existing Problems

Floating exchange rate which has been adopted to facilitate the in the international

market, for instance, may aggravate the existing problems especially at current times when the

economy is experiencing economic problems such as higher inflation and unemployment. For

instance, as the country is experiencing higher inflation brought by demands of its goods

generally, the depreciation of our currency will be inevitable and this will also affect the

country's' current account negatively as imports become also expensive (Dörrenbächer &

Geppert, 2011).
JAGUAR AND CHERRY AUTOMOBILES 13

Challenges of Doing Business Internationally

Legal Issues
One of the biggest hindrances of conducting business in another country is the legal

issues which one has to be familiar with and this serves only to increase the overall costs which

sometimes make the business to become unpractical in any economical sense. This is so because

one has to adapt to different tax regimes and even sometimes different accounting methods

which increase the complexities involved and therefore, one has to seek legal advice from

excellent international lawyers (Lavastre, Gunasekaran & Spalanzani, 2012). Legal issues are

significant because most of the multinational companies have been unable to trade in different

countries which have been occasioned by not been able to adhere to local regulations. Therefore,

most of the times they are forced to close down periodically while others have been unable to

resume operations and this impacts negatively not only to the current business step up but also to

future international businesses as the laws are becoming complex every day (Linnenluecke, &

Griffiths, 2010).

Cultural Barriers
Different cultures have different values and beliefs which may bring challenges in doing

business for instance in countries where women are not given equal rights to men. Furthermore,

for a joint venture, it can prove to be a big hindrance especially when disagreements sets in due

to different management philosophies which if not well harmonized can lead the business closing

down (Hittle & Moustafa Leonard, 2011). Marketing styles, for example, may differ in different

cultures and this may call for more investments to help in influencing the market force in favor

of the product which may become sometimes impossible. Further, some cultures don't take

contracts as serious as others, and many cultures view the group as more important than the
JAGUAR AND CHERRY AUTOMOBILES 14

individual which calls for more research on these cultures for one to succeed in another culture.

Personally, culture defines what to sell in different markets and therefore it should be one of the

most important aspects any investor should address if at all the business will be successive in that

foreign country (Cavusgil, et al, 2014). Besides, the future of international business which has

been actively accelerated by globalization hinges on cultures experienced in different regions all

over the world and as such it will be important to learn cultural intricacies of the places you do

business in future.

Political Problems
Different regions and countries in the world today are experiencing a volatile political

environment which has been occasioned by either revolutions or terrorist attacks and therefore,

not suitable for committing any resources on. Furthermore, many people and regimes are

opposed to outsourcing, globalization, and other international business practices as they view

them as resource-draining schemes as most rarely invested resources they accumulate in any

region. Moreover, most international companies have been accused of human rights abuses in

other countries and they have suffered severely especially due to bad publicity even if you do not

have an idea such abuses were present. Therefore, this issue is of importance as they should

define the country each one should invest in currently and also for the future businesses to avoid

losses which may bring by political instabilities in the country (Cavusgil, et al, 2014).
JAGUAR AND CHERRY AUTOMOBILES 15

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