250 words each
A small US firm has developed and patented a new sustainable clothing material that is quickly gaining visibility in the USA. The material is still quite expensive and not suitable for sports clothing, two factors that make the US market limited to the company. The management of the firm is convinced that a global expansion can keep the firm growing and are asking you for a recommendation on market entry. Share your recommendation for the firm by addressing each of the following questions:
a. Which market the company should enter first and why?
b. When the company should enter that market and why?
c. On what scale the company should enter that market and why?
Cedric Monroe is on the Board of Directors of Ikonia Inc., a company that specializes in developing customized marketing strategies. Cedric recruited two Ikonia executives to join him in starting a social media marketing business. The three of them continued to work for Ikonia, while they were planning their venture and used their positions to gather information on customer needs, purchase equipment with Ikonia’s corporate discount, and recruit potential customers. During this time they did not reveal to Ikonia their intend to open a competing business. A year later they officially registered their business and soon after Ikonia’s leadership discovered its existence. Cedric and his two partners immediately resigned but Ikonia sued them for damages.
- Are the director and the two executive officers liable?
- Did they act ethically?
- Who do you think will win and why?
The normal rule is that after a specified period of time, insurance companies cannot contest the validity of a life insurance policy for any reason except nonpayment of premiums.
- Do you think this rule encourages people to hide facts from the insurance company until their policy is incontestable? And is it ethical to hide facts that would otherwise invalidate an insurance policy? Support your answer with an example.
- What do you think is the reason for this rule?
When a firm wants to expand globally they need to carefully consider the political, economical, legal, and cultural system of every country they want to enter. Discuss the role of business analytics in researching a new market by answering the following questions:
1. What data do you want to collect on the country you want to enter and why?
2. How will you use data analytics to prepare for the entry?
3. How will you avoid making a ridiculous mistake in the international branding of the firm?