answer each question with more than 150 words for each one.
1. Compare and contrast the difference between a fixed and a floating exchange rate
system. From the perspective of an international business, what are the most important
criteria in a choice between the systems? Which system is the more desirable for an
international business? 2. This week our focus shifts from the environment for international businesses to the
firm itself and in particular to the actions managers can take to compete more
effectively as an international business.
The goal of a firm is to maximize profit. In Chapter 11 you learn that firms can increase
their profits in two ways: by adding value to a product so that customers are willing to
pay more for it or by lowering the costs. Many firms add value to their products through
product differentiation. A good example for this is the auto industry. Each car maker
differentiates its cars to capture a certain segment in the market. BMW captures the
high end market while Honda and Toyota target middle class. Firms also customize their
products based on the tastes and preferences of the customers in different countries to
increase the sales volume and revenues. For example, auto companies design different
models for different countries: Large SUVs for the US market and compact cars for the
Asian and European markets. They also find ways to minimize costs by sharing parts
between different models and opening plants in low cost countries.
What other examples can you give for firms' product differentiation and cost cutting
strategies? 3. A small Canadian firm that has developed some valuable new medical products using
its unique biotechnology know-how is trying to decide how best to serve the European
Community market. Its choices are given below. The cost of investment in
manufacturing facilities will be a major one for the Canadian firm, but it is not outside its
reach. If these are the firm's only options, which one would you advise it to choose?
Option 1: Manufacture the product at home and let foreign sales agents handle
Option 2: Manufacture the products at home but set up a wholly owned subsidiary in
Europe to handle marketing.
Option 3: Enter into a strategic alliance with a large European pharmaceutical firm. The
product would be manufactured in Europe by a 50/50 joint venture, and marketed by
the European firm. 4. "Ukraine has become increasingly popular for IT outsourcing in recent years with
highly skilled workforce, good digital infrastructure and low wages". Please read the
following article and discuss the pros and cons of outsourcing from the perspective of
Outsourcing_Industry?taxonomyId=3195 (Links to an external site.) Please watch the following short video and discuss the role of pull strategies
(advertising) in consumer goods market. (There are other resources you can use in
Week 15 Additional Readings page)
http://602communications.com/2013/06/the-new-marketing-trend-driving-pg-marketingand-unilever-marketing/ (Links to an external site.)
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