A Joint Venture or JV is the process of breaking into a new market through strategic local partnership, ideally between a foreign firm and a local firm. HR Mind understands the extreme criticalities and challenges that a JV may face while entering a new market hemisphere.
As per a study undertaken by Bain & Company, the value of joint ventures grew 20% annually from 1995 to 2015, i.e. twice the rate of M&A deals. HR Mind has worked mostly with joint ventures in major countries that include French-Indian, German-Indian, Chinese-European firm, Chinese Indian, Franco-Chinese and Spanish-Indian.
Joint ventures are tricky and complex exercises that can either make or break the company’s global standing. Most emerging markets that are not most developed such as India or China, it is hard to begin operations on your own without any local support. In such cases, JVs come to the rescue and help to make a headway in starting operations here.
The challenges mostly faced by foreign companies in local economies is the mindset, cultural difference, working methodology, etc. that make it difficult to begin anything from scratch. HR Mind is here to assist you and act as a facilitator that binds the relationship between two protagonists.
We do not partake in any signing of agreements, however, since we understand the cultures from our team of international consultants, we are able to provide you with viable and concrete decision making process. Thus ensuring a smooth transition into a new economy without compromising on partners’ criteria that includes timelines, budget, required experience, talent pool, etc.
HR Mind is a specialist in finding bi-cultural professionals that would fit across joint venture organizations, perfectly. As per partners’ goals and visions, we make it concrete and define a proper recruitment strategy to execute the vision.
Our foray into setting up JVs in India and other economies started after realising that most JVs failed after a couple of years because of poor planning and execution. We are the catalyst behind an international company and a local firm. The respect for global processes, risk approach, decision-making style, predefined criteria, lack of recruitment skills and transparency are the main reasons a JV does not succeed.
HR Mind helps build capabilities that are involved in the success of JVs by assessing the pros and cons and presenting them with a tangible solution.
As a trusted partner, we help JVs to succeed in complex market scenarios.