Q3(3). On the assumption that Mr. Francois is thinking about starting a branch in some foreign country, he will need advice on the types of strategies that could be adopted.a. What are the best approaches to enter a foreign market? b. What are two negative experiences or drawbacks in entering a foregin market? c. Based on your response, would you advise Mr. Francois to enter a foreign market? Strengths: Committed employees and management, Appropriate management style, Adequatefinancial and human resources, Wide variety of products, Broad market coverage, Good financialmanagement, Brand name reputation, Excellent customer service skills, Same expertise in newClearly, Mr. Francois was an astute businessman who was always thinking of the next move togrow the business. Hejoined the local Chamber of Commerce, continued to read widely aboutwhat was happening locally, regionally and intemationally, and made every effort to attendconferences and seminars which he thought would be beeneficial. He was always thinking sboutgrowth and expansion. John Francois Stores became a known business even to those personswho had never patronized the store. In the midst ofit all, Mr. Francois understood his corporatesocial responsibility and as such was respected highly by other businessman and members of thecommunity and country.There were a number of proud moments for Mr. Francois and employees when he was awardedthe Business Man of the Year Award on three (3) occasions s well s several other awardsthroughout the years of operations. He was recognized for his business acumen. The years flewby quickly. Mr. Francois participated in anumber of short courses in management which helpedto build his confidence. By the third year of operations, Mr. Francois got an idea - "I could go tothe various parts of Carnibar, observe the needs of citizens and meet them at their point ofneeds, and market my products."He packed his large Toyota panel van and along with hisdriver, he put his plan into action by going to different aress in Çamihar on Saturdays andSundays. Mr. Francois was successful with this venture and discovered that retirees, housewivesand other persons did not leave their homes frequently, but needed his products. He began to gointo more villages and towns at lesst two (2) days per week in addition to Saturdays andSundays. Within ten (10) years, Mr. Francois had set up branches at strategic locations in thewest, north, south and central parts of Çamihar. He achieved this by accessing low-interest loansfrom an established Credit Union and his bankers. He utilized and invested some of his savingsAlthough Mr. Francois had spread his wings and continued to operate a successful and profitablebusiness, he never stopped pondering his next move. By 2015, the total staff had grown to onehundred (100) persons which included cashiers, information technology personnel, supervisors,customer service staff, cleaners, drivers and his five (5) children as managers with one at eachbranch. The children had been educated up to the undergraduate level and had a fairly goodunderstanding of business processes. Mr. Francois was the Chaiman of the organization.venture managementWeaknesses: Lack of research and development akills, Lack of understanding of strategicmanagement and planning.In addition to the stores, Mr. Francois had invested in four (4) beach-front properties which werebooked for at lesst 90% of the year. These properties were well kept and maintained. Much ofOpportunities: Exploit new marlket segments, Move into new businesses, but how and whattype: Expand into foreign markets, Acquire a profitable acquisition.the occupancy wa gained via word of mouth although a website was developed. Regional andintemational tourists s well as local citizens made repeat visits, which demonstrated that theservice received was excellent. Mr. Francois was proud of his achievements.Threats: Incresse in competition, but where do we look, New foms of competition, Changes incustomer preferences, Rising costs of products and labour, Changes in demographic factors,Changes in economic factors and down tum in the economy, Slow growth in the market.Mr. Francois began to think about succession for his business and the future for his children whoAt the start of 2020, Mr. Francois and his family began to follow the news with respect to thedesdly COVID-19 virus. Mr. Francois pondered "I wonder howthispandemic willaffect ourbusiness. We sell mainly needs andsome wants, so we could exxpect our cusomers to continueto patronize us. However, we cannat dismisswhat the ukimate effects may be on the business"The business has been successful, but Mr. Francois and his family has recognized that things arechanging in the environment and could have negative outcomes on the business. At the January2020 monthly mesting, it was decided that the company should seak the services of areputableand trusted person who can advise and sssist the organization with getting adear understandingof what strategic management and planning entails. Other matters discussed which the familysgreed to pursue included embarking on a training initiative which would include staffat alllevels as well as to create an awareness of the environmental factors that can affect the company.Mr. Francois and his family decided to hire you as a trust-worthy relative who he considered s3intelligent and with an understanding of business strategies. The meeting ended with Mr.Francois thinking aloud that they should all read about what it means to be innovative. Heindicated that at the next meeting, they will all come with their idess of a plan that is different towhat they are doing now and which can contribute to continued success. He was not sure whattype of plan that would be. He has been following keenly the possible impact and negativefallout that the company could experience because of the COVID-19 virus. However, as anastute businessman, Mr. Francois realized that there are capabilities within his organizationhad bean supporting him throughout the years. In the midst of the initiatives undertaken, andcontinued success, Mr. Francois was very cognizant that the world of business was wrought withdynamism and uncertainty and that he and his family needed to understand what and how furtherstrategic moves could be undertaken. He had been reading and trying to kep up to date withwhat was happening in the world of business. He and his family did not have a full graap of thetheoretical underpinnings to maneuver quickly out of any new challenges, and he understoodvery well that challenges can surface with expansion.to accomplish his ventures. There were now five (5) stores which were esilx.ecognizable asthey were painted in the same çoloura.Looking to the FutureOn a Growth PathBy 1987, Mr. Francois Mills the staff had incressed and included the following senior membersand who occupied offices at the main branch. These persons managed staff, some of whom weredispersed at the various branches as well as trained employees who were on the floor of theStores.Undoubtedly, John Francois Stores has been a successful organization, but something waaneeded to take the organization onto the next wave. As a family, they looked at the financialsvery closely and recognized that while the company was still shead of other similarestablishments, with an influx of customers at all branches, the profits had been reducing in thethree (3) years prior to 2019, though minimally. It was determined that there were several factorsin the extemal environment that were impacting busines3es generally.Mr. Francois and his family had their usual monthly mesting in December 2019 and you wereinvited to get a better understanding of the status of the organization. At themeeting, somepoints were noted in relation to the present status of the organization, namely a SWOT Analysis.Whist the SWOT Analysis was not fully articulated in tems of what the strengths can and havebrought to the Company; how the weaknesses are impacting the Company; the possibleoutcomes from taking advantage of available opportunities; and the possible impact of thrests,• Personnel Mamager- was responsible for ensuring that human resource practicesincluding health and safety procedures were adhered to• Accountant - responsible for ensuring that accounting standards are upheld. Also, themember was responsible for the cashiering finction.which could be utilized and contribute to continued success. He would have to think a bit more• Procurement Inventory Manager-responsible for ensuring that adequate stock is alwaysavailable through the efficient and timaly management of inventory.• Marketing Manager- works alongside the Procurement/Inventory Manager to promoteabout his next move. Mr. Francois stretched his imagination, "We had better start thinkingabout starting a branch in anorer island some foreign counoy, or start to manufacturesomething thatpeople willneed. "Then he pondered to himself, "I do not have all theknowledge about the inticacies of what I am thinking and the so-called strategies to contin uEto be a winner"the organization, its products and seasonal promotions.the brief notes are highlighted below: Table #1 below:An Opportunity for You to demonstrate your Knowledge, Skilk, Abilities and OtherCharacteristics (KSAOCS)Cosmetics and related School itema - copyproducts for mem and books, pancils, pensBaic food/groceryitems - rice, flour,rulers, etc.sugar, peas, salt,sesonings and othercondimentswomen.Mr. John Francois, avery successful businesaman is contemplating his nextmove at the age ofseventy (70). As a young man at the age of sixteen (16), he dreamt of becoming a "businesaman"and would go into stores in the city where he lived and observe how persomel operated. In hisexploits, he became very friendly with manyof the business owners in the city. As time passed,John Francois obtained four (4) Advanced Level subjects (Mathematics, Geography, EnglishLiterature and Spanish). He also enrolled in a Technical Vocational institution and pursued shortcourses in tiling, plumbing, masony and electrical maintenance for which he gainedcertification. Through his qualificatians, John was able to secure employment quite essily fromthe age of seventeen (17) years. Within afive (5) year period, John had worked at alargehardware store, then a small home branch of a large Bank, and alarge successful insurancePersonal hygienePlumbing andA variety of snacksproductselectrical materialand soft drinksPerfumes/fragrancesSmall appliancesKitchen ware andGlasswareClothing and footwa Household items -for babies, and boyssnd girlsA variety of gift itemsbatteries, glue, tacka,company. During that time, John was being very observant and was recognized by each of hisemployers as an asset. However, John was "hungry" and wanted to achieve his dream ofbecoming a "big businessman".etc.Ladies and gentsHousehold cleaningGardeningOpportunity Ahead!Unfortunately, John Francois lost bothhis parents bythe age of twenty-three (23), but he was lafwith a fortune. By the age of twenty-four (24) John decided to erect a four-story building on apiece of land which he had inherited in the city. He was focused on his goal of starting abusiness. He began reading autobiographies and other books about successful businesamenacross the world. Healso sought advice from the collesgues and mentors whom he had metalong the way. He was never afraid to seek advice. In 1977, at the age of twenty-six (26), JohnFrancois had completed the large commercial building at the comer of French Street and JohnStreet, the main street in the city and one of the busiestcomers in the city of Timberland on theesstem part of the island of Çamiher. The building was painted in a bright florescent green andbordered with bright yellow. "My building must be a landmark in Timberland", he thought tohimself. The people of Timberland were a diverse population in many ways and the building waa true reflection of Çamikar. Mr. Francois operated as a sole proprietorshipfor many yearsselling a variety of almost every item that a household couldwant as shown in the table below:underwear and otherproductstools/implements andeveryday gamentshardware itemsGym ahoes andslippers for ladies andSewing itemsAvariety of handyman toolsgentsThe Early Years and Thinking AheadJohn Francois Stores began withfive (5) employees: a cahier, twostore clerks, one driver and ademer. The store was well sectioned with the variety of items sold. The size of the buildingallowed Mr. Francois to offer for rental four (4) large offices on the third floor to two (2) lawyersand two (2) accoumting fims. The fourth floor was reserved for rental for fumctions, parties andother activities by the citizens from all over Çamitar. To date, the rentals have been bringing inahefty monthly income. John Francois StoresOrders are placed with wholesalers who would deliver the products on scheduled daya. Mr.Francois remains a very organized individual. During the first two (2) years of operating in thecity of Timberland, Mr. Francois observed that his customers comprised of citizens from all overthe island. He began to plan. He thoughtof setting up branches in the west, north, south andcentral parts of Çamihar, but with the Timberland store remaining as the flagship branch.pies the ground and lst floors of the building.

Question

Q3(3). On the assumption that Mr. Francois is thinking about starting a branch in some foreign country, he will need advice on the types of strategies that could be adopted.a. What are the best approaches to enter a foreign market? b. What are two negative experiences or drawbacks in entering a foregin market?  c. Based on your response, would you advise Mr. Francois to enter a foreign market? Strengths: Committed employees and management, Appropriate management style, Adequatefinancial and human resources, Wide variety of products, Broad market coverage, Good financialmanagement, Brand name reputation, Excellent customer service skills, Same expertise in newClearly, Mr. Francois was an astute businessman who was always thinking of the next move togrow the business. Hejoined the local Chamber of Commerce, continued to read widely aboutwhat was happening locally, regionally and intemationally, and made every effort to attendconferences and seminars which he thought would be beeneficial. He was always thinking sboutgrowth and expansion. John Francois Stores became a known business even to those personswho had never patronized the store. In the midst ofit all, Mr. Francois understood his corporatesocial responsibility and as such was respected highly by other businessman and members of thecommunity and country.There were a number of proud moments for Mr. Francois and employees when he was awardedthe Business Man of the Year Award on three (3) occasions s well s several other awardsthroughout the years of operations. He was recognized for his business acumen. The years flewby quickly. Mr. Francois participated in anumber of short courses in management which helpedto build his confidence. By the third year of operations, Mr. Francois got an idea - &#34;I could go tothe various parts of Carnibar, observe the needs of citizens and meet them at their point ofneeds, and market my products.&#34;He packed his large Toyota panel van and along with hisdriver, he put his plan into action by going to different aress in Çamihar on Saturdays andSundays. Mr. Francois was successful with this venture and discovered that retirees, housewivesand other persons did not leave their homes frequently, but needed his products. He began to gointo more villages and towns at lesst two (2) days per week in addition to Saturdays andSundays. Within ten (10) years, Mr. Francois had set up branches at strategic locations in thewest, north, south and central parts of Çamihar. He achieved this by accessing low-interest loansfrom an established Credit Union and his bankers. He utilized and invested some of his savingsAlthough Mr. Francois had spread his wings and continued to operate a successful and profitablebusiness, he never stopped pondering his next move. By 2015, the total staff had grown to onehundred (100) persons which included cashiers, information technology personnel, supervisors,customer service staff, cleaners, drivers and his five (5) children as managers with one at eachbranch. The children had been educated up to the undergraduate level and had a fairly goodunderstanding of business processes. Mr. Francois was the Chaiman of the organization.venture managementWeaknesses: Lack of research and development akills, Lack of understanding of strategicmanagement and planning.In addition to the stores, Mr. Francois had invested in four (4) beach-front properties which werebooked for at lesst 90% of the year. These properties were well kept and maintained. Much ofOpportunities: Exploit new marlket segments, Move into new businesses, but how and whattype: Expand into foreign markets, Acquire a profitable acquisition.the occupancy wa gained via word of mouth although a website was developed. Regional andintemational tourists s well as local citizens made repeat visits, which demonstrated that theservice received was excellent. Mr. Francois was proud of his achievements.Threats: Incresse in competition, but where do we look, New foms of competition, Changes incustomer preferences, Rising costs of products and labour, Changes in demographic factors,Changes in economic factors and down tum in the economy, Slow growth in the market.Mr. Francois began to think about succession for his business and the future for his children whoAt the start of 2020, Mr. Francois and his family began to follow the news with respect to thedesdly COVID-19 virus. Mr. Francois pondered &#34;I wonder howthispandemic willaffect ourbusiness. We sell mainly needs andsome wants, so we could exxpect our cusomers to continueto patronize us. However, we cannat dismisswhat the ukimate effects may be on the business&#34;The business has been successful, but Mr. Francois and his family has recognized that things arechanging in the environment and could have negative outcomes on the business. At the January2020 monthly mesting, it was decided that the company should seak the services of areputableand trusted person who can advise and sssist the organization with getting adear understandingof what strategic management and planning entails. Other matters discussed which the familysgreed to pursue included embarking on a training initiative which would include staffat alllevels as well as to create an awareness of the environmental factors that can affect the company.Mr. Francois and his family decided to hire you as a trust-worthy relative who he considered s3intelligent and with an understanding of business strategies. The meeting ended with Mr.Francois thinking aloud that they should all read about what it means to be innovative. Heindicated that at the next meeting, they will all come with their idess of a plan that is different towhat they are doing now and which can contribute to continued success. He was not sure whattype of plan that would be. He has been following keenly the possible impact and negativefallout that the company could experience because of the COVID-19 virus. However, as anastute businessman, Mr. Francois realized that there are capabilities within his organizationhad bean supporting him throughout the years. In the midst of the initiatives undertaken, andcontinued success, Mr. Francois was very cognizant that the world of business was wrought withdynamism and uncertainty and that he and his family needed to understand what and how furtherstrategic moves could be undertaken. He had been reading and trying to kep up to date withwhat was happening in the world of business. He and his family did not have a full graap of thetheoretical underpinnings to maneuver quickly out of any new challenges, and he understoodvery well that challenges can surface with expansion.to accomplish his ventures. There were now five (5) stores which were esilx.ecognizable asthey were painted in the same çoloura.Looking to the FutureOn a Growth PathBy 1987, Mr. Francois Mills the staff had incressed and included the following senior membersand who occupied offices at the main branch. These persons managed staff, some of whom weredispersed at the various branches as well as trained employees who were on the floor of theStores.Undoubtedly, John Francois Stores has been a successful organization, but something waaneeded to take the organization onto the next wave. As a family, they looked at the financialsvery closely and recognized that while the company was still shead of other similarestablishments, with an influx of customers at all branches, the profits had been reducing in thethree (3) years prior to 2019, though minimally. It was determined that there were several factorsin the extemal environment that were impacting busines3es generally.Mr. Francois and his family had their usual monthly mesting in December 2019 and you wereinvited to get a better understanding of the status of the organization. At themeeting, somepoints were noted in relation to the present status of the organization, namely a SWOT Analysis.Whist the SWOT Analysis was not fully articulated in tems of what the strengths can and havebrought to the Company; how the weaknesses are impacting the Company; the possibleoutcomes from taking advantage of available opportunities; and the possible impact of thrests,• Personnel Mamager- was responsible for ensuring that human resource practicesincluding health and safety procedures were adhered to• Accountant - responsible for ensuring that accounting standards are upheld. Also, themember was responsible for the cashiering finction.which could be utilized and contribute to continued success. He would have to think a bit more• Procurement Inventory Manager-responsible for ensuring that adequate stock is alwaysavailable through the efficient and timaly management of inventory.• Marketing Manager- works alongside the Procurement/Inventory Manager to promoteabout his next move. Mr. Francois stretched his imagination, &#34;We had better start thinkingabout starting a branch in anorer island some foreign counoy, or start to manufacturesomething thatpeople willneed. &#34;Then he pondered to himself, &#34;I do not have all theknowledge about the inticacies of what I am thinking and the so-called strategies to contin uEto be a winner&#34;the organization, its products and seasonal promotions.the brief notes are highlighted below: Table #1 below:An Opportunity for You to demonstrate your Knowledge, Skilk, Abilities and OtherCharacteristics (KSAOCS)Cosmetics and related School itema - copyproducts for mem and books, pancils, pensBaic food/groceryitems - rice, flour,rulers, etc.sugar, peas, salt,sesonings and othercondimentswomen.Mr. John Francois, avery successful businesaman is contemplating his nextmove at the age ofseventy (70). As a young man at the age of sixteen (16), he dreamt of becoming a &#34;businesaman&#34;and would go into stores in the city where he lived and observe how persomel operated. In hisexploits, he became very friendly with manyof the business owners in the city. As time passed,John Francois obtained four (4) Advanced Level subjects (Mathematics, Geography, EnglishLiterature and Spanish). He also enrolled in a Technical Vocational institution and pursued shortcourses in tiling, plumbing, masony and electrical maintenance for which he gainedcertification. Through his qualificatians, John was able to secure employment quite essily fromthe age of seventeen (17) years. Within afive (5) year period, John had worked at alargehardware store, then a small home branch of a large Bank, and alarge successful insurancePersonal hygienePlumbing andA variety of snacksproductselectrical materialand soft drinksPerfumes/fragrancesSmall appliancesKitchen ware andGlasswareClothing and footwa Household items -for babies, and boyssnd girlsA variety of gift itemsbatteries, glue, tacka,company. During that time, John was being very observant and was recognized by each of hisemployers as an asset. However, John was &#34;hungry&#34; and wanted to achieve his dream ofbecoming a &#34;big businessman&#34;.etc.Ladies and gentsHousehold cleaningGardeningOpportunity Ahead!Unfortunately, John Francois lost bothhis parents bythe age of twenty-three (23), but he was lafwith a fortune. By the age of twenty-four (24) John decided to erect a four-story building on apiece of land which he had inherited in the city. He was focused on his goal of starting abusiness. He began reading autobiographies and other books about successful businesamenacross the world. Healso sought advice from the collesgues and mentors whom he had metalong the way. He was never afraid to seek advice. In 1977, at the age of twenty-six (26), JohnFrancois had completed the large commercial building at the comer of French Street and JohnStreet, the main street in the city and one of the busiestcomers in the city of Timberland on theesstem part of the island of Çamiher. The building was painted in a bright florescent green andbordered with bright yellow. &#34;My building must be a landmark in Timberland&#34;, he thought tohimself. The people of Timberland were a diverse population in many ways and the building waa true reflection of Çamikar. Mr. Francois operated as a sole proprietorshipfor many yearsselling a variety of almost every item that a household couldwant as shown in the table below:underwear and otherproductstools/implements andeveryday gamentshardware itemsGym ahoes andslippers for ladies andSewing itemsAvariety of handyman toolsgentsThe Early Years and Thinking AheadJohn Francois Stores began withfive (5) employees: a cahier, twostore clerks, one driver and ademer. The store was well sectioned with the variety of items sold. The size of the buildingallowed Mr. Francois to offer for rental four (4) large offices on the third floor to two (2) lawyersand two (2) accoumting fims. The fourth floor was reserved for rental for fumctions, parties andother activities by the citizens from all over Çamitar. To date, the rentals have been bringing inahefty monthly income. John Francois StoresOrders are placed with wholesalers who would deliver the products on scheduled daya. Mr.Francois remains a very organized individual. During the first two (2) years of operating in thecity of Timberland, Mr. Francois observed that his customers comprised of citizens from all overthe island. He began to plan. He thoughtof setting up branches in the west, north, south andcentral parts of Çamihar, but with the Timberland store remaining as the flagship branch.pies the ground and lst floors of the building.

Accepted Answer

GLOBAL EXPANSION: Global expansion refers to the expansion and growth of the business in foreign…