Question 1
Use the Internet to research a publicly traded company that exports to at least one foreign country. Focus on any export challenges the company may be facing. Be prepared to discuss.
"Best Practices" Please respond to the following:
From the e-Activity, determine which of the issues would present the greatest challenge to the company you selected. Provide specific examples to support your response.
For the same company, recommend one best practice not already mentioned in Chapter 9 that would help the company address the challenge you identified. Explain your rationale.
Quesion 2
"Best Practices" Please respond to the following:
From the e-Activity, determine which of the issues would present the greatest challenge to the company you selected. Provide specific examples to support your response.
Medifast, a pre-packaged meal service ranked #1 on Forbes' 2010 list of best small companies in America and #12 in Forbes' top 20 small public companies in America exports to both Mexico and Canada. The most challenging exporting issue would be establishing a record keeping and audit process. Compliance with foreign policies on the importing of food presents a huge challenge in itself and a constant system of checks and balances would be required. As the textbook states the system in place must protect the company, the customers, and the exporting country.
For the same company, recommend one best practice not already mentioned in Chapter 9 that would help the company address the challenge you identified. Explain your rationale.
Another best practice Medifast should practice when exporting is to not falsely lead customers. Medifast was ordered by the FTC to pay a 3.7 million dollar settlement in 2012 for false/misleading advertisement. Had Medifast evaluated their advertisement strategy the possibly could have protected themselves from this loss.