A comparative analysis of CMR Surgical’s prospects for internationalization

As market trends continuously grow, businesses must increase their ability to perform and grow effectively. This essay will highlight some of the key criteria which should be considered before implementing strategies for internationalization. The Uppsala model of internationalization will be used to analyze the process. Apart from that, the critical issues faced by the company while implementing the internationalization theory will also be discussed. It will help in evaluating the key areas where the business can focus. Other than that, the external influencing factors will be highlighted in the essay. Moreover, the resource-based view will be discussed to emphasize the importance of a company's unique resources and capabilities in creating sustained competitive advantage.
According to Buckner and Stein (2020), internationalization is defined as increasing the company’s branching model to capture more markets to ensure the growth rate of the business. Internationalization theory is based on the cost transaction approach, which revolves around the behavioral assumption (Buckner and Stein 2020). Apart from that, Buckley and Casson, (2009), defined that, this theory also drive the boundaries of organization which they are planning to shift and gain profit. The company’s purpose is to explore the new market for the business to gain a competitive advantage. The industry must ensure that flexibility is significant to acquire recent changes in the business (Jonsson and Foss, 2011). In their targeting process, the company will divide the continents into four segments to effectively target the specific market (Park, 2022). CMR Surgical is famous for developing the Versius robot surgery system, which provides a modular and portable setup to design the integrated virtual operating room (Park, 2022). Based on the analysis of Stewart (2022), it has been found that the demand for surgical robotics will increase in the upcoming time effectively (refer to appendix 1). But, before going internationally,...

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