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The European Union is a known trade advantage all around the world. The economic
enhancement it made has created possibilities for companies and economies alike. Synop6 is
one of those strong beneficiaries which have a very strong influence since the Common EU
Legislation. Having this feature, it is and will be imperative for any company of a related
industry to have a reasonable benefit of the EU. The EU offers a very convenient advantage
of trade which reduces tax and also some common formalities when goods cross from border
to border. Having in view of the future prospects of such a venture and growing trade and
economic problems, Synop6 should expand towards Eastern Europe to expand its operations.
It is crucial for Synop6 to prepare for certain precautions before venturing into this
expansion. The reason being, there are major risks that need to be hedged. There are some
Internal Problems:
The size of the company gives it advantage of being highly responsive to changes in
environment. Although changes at such macro level are very demanding, given the limited
resources currently, including valuable time. As new member countries join the EU, Synop6
will have to research for each country, it being a research company for its clients. But given
the rise of 10 countries of the EU has costed heavily for the company, and will become
difficult for Synop6 to sustain itself. The internal staff is not yet trained to deal with newer
countries, which involves hiring translators, and education about their business practices.
Synop6 must begin from being aware of the environment as much it can from its
limited resources.
Strengths:
costs
Weaknesses:
• Lack of financial and informational resources, as against the cost of verifying accurate
information
• Oil dependency from Russia, particular resources in high demand are becoming
Opportunities:
o Special Economic Zones (SEZs) in Poland, they offer less trade barriers and
Threats:
• Limited time, danger of new entrants of the same industry to take up potential clients
• Inherent problems:
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Suggested Solution:
Given the environment circumstances, Synops6 will have to make efficient use of its
resources to survive and also gain the opportunity. There are a number of opportunities that
could arise from entering Eastern Europe to do business. The major precaution that remains is
the uncertainty of cost while establishing itself further. He objective will only be reached if
the company runs another diversified approach while expanding to the Eastern EU. Ideally
Poland poses to be a strategic location for settling a business because it has links to countries
from all its borders, there becomes a lucrative ground for doing multinational business. The
facility of Special Economic Zone allows a designated area in which manufacturing and
distribution activities on preferential terms. Currently they are 14 of them in Poland. This will
approaching country to country for clients and sources for required demands.
It is critical to act fast because there will be newer companies which will be looking for
the same opportunity. Acting fast would not only offer immediate new clients but also save
Synops6 from losing potential share of clients within the European Union. Therefore taking
Secondly, Synops6 still currently has relevant research for emerging countries of the EU,
it is important to bank on them and choose the current most trusted countries to begin their
venture. Currently France is liaise clients with the help of Synops6 (Case Study, Page 297).
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This is a sign of a potential new opportunity for the company. The Czech Republic now run 2
nuclear plants that generate enough power to export it. It can enter the Nuclear Policy from
the Czech Republic to have an exclusive advantage to connect supplier to manufacturer and
Thirdly, Hungary faces excess demand for oil and natural resources and therefore is a
potential client for such suppliers that can offer those resources. This will further reduce
dependency on Russia and will offer a focused approach towards researching. That is, it can
research for those economies that are known to be generally strong for oil production or large
Conclusion:
This approach will not only be a lucrative venture but a safe play as well. The only other
cost that remains is to train or hire such people who can help integrate and improve
communications with other member countries. While this expansion progresses, Synops6 will
far the European Union Council is working on the EU Regional Cohesion Policy (Chapter 7,
Economic survey of the European Union 2007) which proves implications about this going
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