Research On Venezuela Market Development Strategy Of R Engineering Contract Firms

Under the conditions of increasingly integrated global economy,a large number of state-owned engineering contracting enterprises have practiced the “going out”strategy.In the process of vigorously exploring overseas markets,Chinese-funded enterprises are inevitably affected by the international environmental turmoil.Therefore,Chinese-funded enterprises need to constantly adjust their strategies to adapt to the changing international market environment and explore a development model that suits them.As an important strategic partner of China,Venezuela was China’s largest engineering contracting market in Latin America,and its rich oil resources attracted many companies.However,due to the fall in international oil prices,the Venezuelan economy has been steadily declining,and the Chinese-funded enterprises in Venezuela have also been hit and tested as never before.Company R was one of the first Chinese companies to enter the Venezuelan market.Venezuela is also an important overseas market for the company,and the company has achieved brilliant results in this market.Due to the turmoil in Venezuela,there are more uncertainties in the country’s situation in the short term,and political and economic risks are greater.Therefore,the project has a high risk,the investment environment is relatively bad,and the personnel safety problem is severe.The company’s current business development in this market is hindered.In addition,R has more competitors and needs to continuously improve its business capabilities,professional technical capabilities and management capabilities in order to achieve business transformation and upgrade,and constantly enhance the brand image and influence to take root in the market to achieve in-depth development.This paper uses PESTEL and SWOT analysis to identify problems faced by the company in the expansion of the Venezuelan market.By analyzing the problems combined with the characteristics of the Venezuelan market environment and the company’s strengths and weaknesses,the strategy for the company’s market expansion is systematically analyzed from the business level and the company level.Using the theory of engineering contracting and corporate strategy to develop an overall strategy for R company,and formulate specific functional strategies from marketing,information,production and human resources to ensure the implementation of the overall strategy.