Wednesday, February 19, 2020
Israel and the Teva Company Assignment Example | Topics and Well Written Essays - 500 words
Israel and the Teva Company - Assignment Example Israel played a supportive role in Teva development. The government of Israel invested heavily in the education system. Therefore, over the years, I think that the country was able to equip its population with high technical skills which enabled them to work in different manufacturing companies. As a result, the company had qualified personnel at its disposal. These were people who had the necessary skills to steer growth and development of the company. In addition, the employees were well versed in different aspects that they need to consider in order for the business to penetrate the global market. Therefore, through little training by the US professors especially on the American culture, they were able to use the business models that were taught in school in order to penetrate the US market. Israel played a comforting role towards the growth of Teva Company. Although the expansion of any company in the overseas market is important in order to reduce the risks and uncertainties ass ociated with concentrating on a single market, every company must dominate a specific market before trying to capture other markets. Personally, I believe that Teva was able to gain comfort after segmenting the local market. The country gave support to the companyÃ¢â¬â¢s products through ensuring that many of the prescribed drugs came from the company. The company received numerous contracts with government hospitals. This gave the firm confidence to explore the external market as it was assured of local support.