MGMT 5335 INTERNATIONAL STRATEGIC MANAGEMENT
CASE ANALYSIS
Team Member Names (Participants Only):
Questions:
1. Competitor analysis
a. Describe Best Buy’s competitive position relative to its main competitors. (200 words)
. Which competitor poses the biggest threat to Best Buy? (150 words)
2. Business-level strategy
a. What is Best Buy’s business-level strategy? (150 words)
. What are the key value drivers and cost drivers of Best Buy? (200 words)
3. Strategy renewal
a. Consumer electronics is a mature industry. Where can future growth come from? (150 words)
. How should Best Buy adjust its strategy to strengthen its competitive advantage? (200 words)
Spring 2023
PDF.js viewe
EQ ?MJ�S- �QNSG?DQ LDK
C?U HC�Q- �J HMF
Adrs Atx�Bn-’�Hmb-
Itmd�00)�1/08-�Adrs�Atx�’AAX(�‘oonhmsr�Bnqhd�A‘qqx�‘r�BDN�eqnl�gdq�oqhnq�BEN�onrhshnm�sn�qdok‘bd�Gtadqs�
Inkx)�vgn�rdqudc�‘r�BDN�rhmbd�1/01�‘mc�qdl‘hmr�‘r�bg‘hql‘m�ne�sgd�an‘qc-0�Rhmbd�1/03)�Adrs�Atx&r�rsnbj�odqenq,
l‘mbd�g‘r�dwbddcdc�sgd�R%O�4
)�ats�hs�g‘r�k‘ffdc�adghmc�?l‘ynm…‘�ehql�sg‘s�g‘r�qdcdehmdc�qds‘hk-�Dwghahs�0�
cdohbsr�‘�rsnbj�oqhbd�bnlo‘qhrnm�ne�qds‘hkdqr�eqnl�1/03�sn�Itkx�1/08-
Adrs�Atx&r�odqenql‘mbd�qdekdbsr�‘�rs‘qj�bnmsq‘rs�eqnl�l‘mx�qds‘hkdqr�sg‘s�g‘ud�cdbk‘qdc�nq�‘qd�e‘bhmf�a‘mjqtosbx)�
tbg�‘r�Q‘chnRg‘bj)�Rd‘qr)�‘mc�Snxr,Q,Tr-�Sgd�rsq‘sdfx�cdudknodc�ax�Gtadqs�Inkx�v‘r� sn�dmf‘fd�btrsnldqr� hm�
zghfg�sntbg–�oqnctbsr�sg‘s�‘kknv�btrsnldqr�sn�hmsdq‘bs�vhsg�bnlodshshudkx�oqhbdc�oqnctbsr)�hmbktchmf�oqhu‘sd�k‘adk�
aq‘mcr-�Etqsgdq)�Adrs�Atx�needqr�bnlokdldmsr)�rtbg�‘r�qdbxbkhmf�‘mc�hm,gnld�hmrs‘kk‘shnm)�sn�etqsgdq�dmf‘fd�vhsg�
trsnldqr-�Sgd�qdrtks�v‘r�‘�bkd‘q�u‘ktd�oqnonrhshnm�qdekdbsdc�hm�sgd�rknf‘m�zDwodqs�Rdquhbd-�Tmad‘s‘akd�Oqhbdr-–1
Sgd�rsq‘sdfhb� hmhsh‘shud&r�o‘rs�rt
d
� hr�qdekdbsdc�hm�Adrs�Atx&r�odqenql‘mbd)�‘mc�Gtadqs�Inkx&r�rdkdbshnm�‘r�sgd�
zqds‘hkdq�ne�sgd�xd‘q–�ax�Enqadr�enq�1/05- �Rshkk)�Bnqhd�A‘qqx�e‘bdr�ltkshokd�bg‘kkdmfdr)�hmbktchmf�adhmf�sgd�xntmf,
drs�BDN�ne�‘�R%O�4
�bnlo‘mx�‘mc�nmd�ne�sgd�edv�vnldm�sn�qtm�‘�Enqstmd�0
�bnlo‘mx-�Hm�‘cchshnm)�Adrs�Atx�
nmshmtdr�sn�e‘bd�bnmrhcdq‘akd�gd‘c�vhmcr-
2
3���
Bnlodshshnm�hm�sgd�bnmrtldq,dkdbsqnmh
�hmctrsqx�qdl‘hmr�bts,sgqn‘s-�Vghkd�Adrs�Atx�hr�mn�knmfdq�bnmrhcdqdc�
cnnldc�sn�enkknv�nsgdq�m‘shnm‘k�bnmrtldq�dkdbsqnmh
�qds‘hk�rtodqrsnqdr�hmsn�dwshmbshnm)�rdudq‘k�bnmbdqmr�rtffdrs�
hs�vhkk�ad�g‘qcdq�enq�Adrs�Atx�sn�ldds�dwodbs‘shnmr�enq�bnmshmtdc�odqenql‘mbd-�Ehqrs)�Adrs�Atx�l‘x�rhlokx�g‘ud�
qdbdhudc�‘�sdlonq‘qx�annrs�ctd�sn�rsqtffkdr�ax�nsgdq�sq‘chshnm‘k�qds‘hkdqr-��Rdbnmc)�Adrs�Atx�cdodmcr�nm�bnmrtldq�
dkdbsqnmh
)�‘�oqnctbs�b‘sdfnqx�hmbqd‘rhmfkx�b‘tfgs�to�hm�T-R-,Bghm‘�sq‘cd�sdmrhnmr�sg‘s�cn�mns�‘ood‘q�sn�g‘ud�‘m�
d‘rhdq�nq�pthbj�qdrnktshnm-5)�6�Sghqc)�ehud�rtookhdqr�’?ookd)�R‘lrtmf)�Gdvkdss,O‘bj‘qc)�Rnmx�‘mc�KF(�rtookx�Adrs�
Atx�vhsg�nudq�g‘ke�hsr�hmudmsnqx-7�Adrs�Atx�‘bshudkx�o‘qsmdqr�vhsg�hsr�rtookhdqr-�Enq�dw‘lokd)�Adrs�Atx�ohnmddqdc�sgd�
zrsnqd�vhsghm�‘�rsnqd–�bnmbdos�vhsg�R‘lrtmf�hm�1/02�sn�ghfgkhfgs�R‘lrtmf�oqnctbsr�vhsghm�Adrs�Atx�knb‘shnmr-8
Sgd�dwo‘mrhnm�ne�sghr�oqnfq‘l�sn�nsgdq�ehqlr�’d-f-)�Lhbqnrnes�‘mc�?ookd(�‘ccr�‘mnsgdq�rntqbd�ne�qdudmtd�enq�hsr�
snqdr)�ats�hs�‘krn�hmbqd‘rdr�Adrs�Atx&r�cdodmcdmbd�nm�rtookhdqr-�Entqsg)�qds‘hk�bnmshmtdr�sn�bg‘mfd�‘r�odnokd�‘c‘os�
sn�sdbgmnknfx�‘mc�qdk‘shnmrghor�adsvddm�qds‘hkdqr)�btrsnldqr)�‘mc�l‘mte‘bstqdqr�‘c‘os-0/��Adrs�Atx&r�zghfg�sntbg–�
‘ooqn‘bg�sn�qds‘hk�qdrsr�nm�‘ssq‘bshmf�‘mc�qds‘hmhmf�pt‘khehdc�dloknxddr)�‘mc�sghr�l‘x�gtqs�oqnehs‘ahkhsx�he�‘tsnl‘,
shnm�ax�bnlodshsnqr�hr�rt
d
etk-00�Hm�rtoonqs�ne�rddhmf�bnmshmtdc�bg‘kkdmfdr�enq�Adrs�Atx)�qntfgkx�6/�odqbdms�ne�
hmrhcd�rsnbj�sq‘cdr�ax�dwdbtshudr�‘s�Adrs�Atx�vdqd�r‘kdr�ne�rg‘qdr�’q‘sgdq�sg‘m�atxhmf�ne�rg‘qdr(-01
?s� sgd�r‘ld�shld)�?l‘ynm�qdl‘hmr�‘� enqlhc‘akd�bnlodshsnq� hm� sgd�dkdbsqnmh
� qds‘hk� hmctrsqx-�Enq�dw‘lokd)�
?l‘ynm�g‘r�adftm�needqhmf�hm,gnld�bnmrtks‘shnm�vhsg�hsr�chfhs‘k�‘
hrs‘ms�?kdw‘�gnrsdc�nm�hsr�Dbgn�rod‘jdqr-�Ax
nlo‘qhrnm)�Adrs�Atx�cndr�mns�needq�‘�chfhs‘k�‘
hrs‘ms�sg‘s�l‘x�rtarshstsd�enq�hsr�sq‘hmdc�r‘kdr�rs‘ee-�?l‘ynm�hr�‘krn�
qd‘shmf�hmbqd‘rdc�ogxrhb‘k�oqdrdmbd�sgqntfg�sgd�dwo‘mrhnm�ne�v‘qdgntrdr)02� hsr�otqbg‘rd�ne�Vgnkd�Enncr)�‘mc�
o‘qsmdqhmf�vhsg�Jngkr�‘mc�Qhsd�?hc�enq�qdstqmr-03�Vghkd�sgd�otqbg‘rd�ne�Vgnkd�Enncr�ax�?l‘ynm�cqnud�fqnbdqx�
g‘hm�bnlo‘mhdr�rsnbj�knvdq)�04�hs�‘krn�fhudr�?l‘ynm�‘�ogxrhb‘k�oqdrdmbd�vgdqd�btrsnldqr�vhkk�ad�‘akd�sn�ohbj�to�
Oqned
nqr�Eq‘mj�S-�Qnsg‘dqldk�‘mc�C‘uhc�Q-�Jhmf�oqdo‘qdc�sghr�b‘rd�eqnl�otakhb�rntqbdr-�Sgd�‘tsgnqr�‘qd�hmcdasdc�sn�Oqned
nq�L‘qmd�?qsg‘tc,C‘x�enq�gdq�
nmsqhatshnmr�sn�‘m�d‘qkhdq�udqrhnm�ne�sghr�b‘rd-�Sghr�b‘rd�hr�mns�hmsdmcdc�sn�ad�trdc�enq�‘mx�jhmc�ne�dmcnqrdldms)�rntqbd�ne�c‘s‘)�nq�cdohbshnm�ne�dbhdms�nq�hmde,
“bhdms�l‘m‘fdldms-�?kk�nohmhnmr�dwoqd
dc)�‘mc�‘kk�dqqnqr�‘mc�nlh
hnmr)�‘qd�dmshqdkx�sgd�‘tsgnqr&-�©�ax�Qnsg‘dqldk�‘mc�Jhmf)�1/08
HF9TERMT�55
012,12016V
IDUGRDA9�:TETRS�08 �1,08
MH0066
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
1
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
otqbg‘rdr-�?r�‘�qdrtks)�Adrs�Atx�‘mc�BDN�A‘qqx�b‘mmns�rhlokx�qdrs�nm�hsr�o‘rs�rt
d
�‘r�sgd�bnlodshshnm�bnmshmtdr�
sn�dunkud-�Nodmhmf�‘�b‘m�ne�Chds�Bnjd�‘mc�annshmf�to�gdq�k‘osno)�A‘qqx�hr�sghmjhmf�‘ants�sgd�mdws�d‘qmhmfr�b‘kk�
vhsg�hmudrsnqr�”
?�Aphde�Ehrsnpx�ne�Adrs�Atx
Snfdsgdq�vhsg�ghr�atrhmd
�o‘qsmdq)�I‘ldr�Vgddkdq)�Qhbg‘qc�Rbgtkyd�entmcdc�Rntmc�ne�Ltrhb)�‘m�‘tchn�rod,
h‘ksx�rsnqd)�hm�Lhmmdrns‘�hm�0855-�Sgd�ekdcfkhmf�bnlo‘mx�dmcdc�hsr�ehqrs�eh
‘k�xd‘q�vhsg�fqn
�r‘kdr�ne�#062)
�
‘mc�bnmshmtdc�sn�fqnv�q‘ohckx�nudq�sgd�mdws�edv�xd‘qr-�Ax�sgd�shld�ne�hsr�hmhsh‘k�otakhb�needqhmf�hm�0858)�sgd�gnld,
snvm�dmsdqoqhrd�g‘c�‘bpthqdc�svn�ne�hsr�knb‘k�bnlodshsnqr05�‘mc�hs�nodmdc�svn�mdv�ntskdsr�md‘q�sgd�Tmhudqrhsx�ne�
Lhmmdrns‘�hm�cnvmsnvm�Lhmmd‘onkhr-
Rbgtkyd�antfgs�nts�Vgddkdq� hm�0860)06�rgnqskx�‘esdq�Rntmc�ne�Ltrhb�ghs� sgd�#0�lhkkhnm�l‘qj� hm�‘mmt‘k�qdu,
dmtdr-07�Hm�0868)�Rntmc�ne�Ltrhb�adb‘ld�sgd�ehqrs�rtookhdq�ne�uhcdn�‘mc�k‘rdqch
�dptholdms�eqnl�bnlo‘mhdr�rtbg�
‘r�O‘m‘rnmhb)�L‘fm‘unw)�Rnmx)�‘mc�Rg‘qo-�?esdq�‘�snqm‘cn�ghs�sgd�Qnrduhkkd)�Lhmmdrns‘)�rsnqd�hm�Itmd�0870)�sgd�
nlo‘mx�qdronmcdc�vhsg�‘�zSnqm‘cn�R‘kd–�sg‘s�adb‘ld�‘m�‘mmt‘k�dudms)�rsnql�nq�mn�rsnql-�Sghr�rsq‘sdfx�annrsdc�
Rntmc�ne�Ltrhb&r�‘udq‘fd�r‘kdr�odq�rpt‘qd�enns�sn�#24/)�bnlo‘qdc�vhsg�‘m�hmctrsqx�‘udq‘fd�ne�#04/�sn�#1
-
?QQHU?K�NE�SGD RTODQRSNQD
Vhsg�‘lahshnmr�sn�b‘ostqd�‘m�dudm�k‘qfdq�l‘qjds�rg‘qd)�Rntmc�ne�Ltrhb�bg‘mfdc�hsr�m‘ld)�hm�0872)�sn�Adrs�Atx�
Bn-)�Hmb-�Rnnm)�hs�‘cnosdc�hsr�mnv,e‘lhkh‘q�rtodqrsnqd�enql‘s)�vhsg�‘m�hmbqd‘rhmfkx�chudqrhehdc�oqnctbs�q‘mfd-�Adrs�
Atx�oqnbddcdc�sn fqnv�eqnl�7�sn�13�rsnqdr�‘mc�r‘v�hsr�qdudmtdr�hmbqd‘rd�eqnl�#18�lhkkhnm�hm�0873�sn�#18/�lhkkhnm�
hm�0876-08�Nm�Itkx�1/)�0876)�Adrs�Atx�l‘cd�hsr�cdats�nm�sgd�Mdv�Xnqj�Rsnbj�Dwbg‘mfd�’MXRD9�AAX(�vhsg�‘m�
hmhsh‘k�needqhmf�ne�7-2�lhkkhnm�rg‘qdr�ne�bnllnm�rsnbj-
Adrs�Atx�bg‘mfdc�hsr�knfn�sn�sgd�xdkknv�s‘f�hm�0876)�‘mc�hm�0878�hsr�rsnqdr�‘cnosdc�‘�mdv�zfq‘a,‘mc,fn–�rsnqd�
enql‘s)�b‘kkdc�Bnmbdos�HH-�Rbgtkyd&r�qdunktshnm‘qx�mdv�‘ooqn‘bg�sn�ahf,anw�qds‘hkhmf�bnlahmdc�V‘kl‘qs&r�oqhbdr�
vhsg�Bhqbths�Bhsx&r� ‘
nqsldms)� hm�‘� rgnoohmf�v‘qdgntrd�vhsg�‘�24)
,rpt‘qd,enns� ennsoqhms-1/�Sgd�mdv�rsnqdr�
nmrhrsdc�ne�vdkk,rsnbjdc�rgnvqnnlr�vhsg�rdke,gdko�hmenql‘shnm�rn�sg‘s�odnokd�bntkc�l‘jd�sgdhq�oqnctbs�rdkdbshnmr�
hmcdodmcdmskx�‘mc�bgdbj�nts�hm�‘�rhmfkd�rsno-�?mrvdq�bdmsdqr�vdqd�rshkk�‘u‘hk‘akd�enq�odnokd�vgn�cdrhqdc�‘
hrs‘mbd)�
ats�r‘kdrodnokd�mn�knmfdq�mddcdc�sn�‘ssdmc�sn�d‘bg�hmchuhct‘k�btrsnldq�nq�edsbg�ldqbg‘mchrd�eqnl�rsnq‘fd-�Sghr�
g‘mfd�qdctbdc�Adrs�Atx&r�dloknxldms�bnrsr�ax�nmd,sghqc)�vghbg�bnlodmr‘sdc�enq�sgd�bnqqdronmchmf�cd,dlog‘rhr�
nm�rdquhbd�bnmsq‘bsr-�Gnvdudq)�Adrs�Atx&r�rsnqd�enql‘s�g‘r�bnmshmtdc�sn�dunkud)�‘mc�hs�btqqdmskx�nodq‘sdr�Bnmbdos�
HU�rsnqdr�sg‘s�oqnuhcd�‘m�nodm�eknnq�enql‘s�‘mc�b‘rg�qdfhrsdqr�sgqntfgnts�sgd�rsnqd)�‘r�vdkk�‘r�cdchb‘sdc�ro‘bdr�sn�
udmcnqr-10
FQNVSG�SGQNTFG�?BPTHRHSHNMR
Sgd�xd‘q�1
�l‘qjdc�sgd�k‘tmbg�ne�‘�mdv�og‘rd�ne�hmnqf‘mhb�fqnvsg�sgqntfg�‘bpthrhshnmr-�Adrs�Atx�fqdv�hsr�qdu,
dmtdr�eqnl #01-4�ahkkhnm�hm�1
�sn�md‘qkx�#40�ahkkhnm�hm�1/01-11�Sgd�bnlo‘mx�ehqrs�otqbg‘rdc�L‘fmnkh‘)�‘�ghfg,dmc�
nmrtldq,dkdbsqnmh
�bg‘hm�vhsg�02�knb‘shnmr�sgqntfgnts�V‘rghmfsnm)�B‘khenqmh‘)�‘mc�Nqdfnm)�enq�#77�lhkkhnm�hm�
1
-12�Sgd�mdws�xd‘q)�Adrs�Atx�otqbg‘rdc�Ltrhbk‘mc�enq�#314-0�lhkkhnm-�Sgd�‘bpthrhshnm�ne�sgd�l‘kk,a‘rdc�ltrhb�
‘mc�dmsdqs‘hmldms�qds‘hkdq�f‘ud�Adrs�Atx�‘
d
�sn�‘m�‘cchshnm‘k�0)2
�rsnqdr�‘bqn
�sgd�Tmhsdc�Rs‘sdr�‘mc�Otdqsn�
Qhbn)�hmbktchmf�54/�R‘l�Fnncx�‘mc�3
�Rtmbn‘rs�Lnshnm�Ohbstqd�ntskdsr-�Hm�1
1)�sgd�bnlo‘mx�‘bpthqdc�Fddj�
Rpt‘c)�‘�13,gntq�bnlotsdq,rtoonqs�s‘rj�enqbd-�Ax�1
3)�Fddj�Rpt‘c�oqdbhmbsr�vdqd�hm�‘kk�ne�hsr�rsnqdr-13
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
2Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Hm�bnmsq‘rs�sn�sgd�q‘ohc�dwo‘mrhnm�ne�Fddj�Rpt‘c)�Adrs�Atx�chudrsdc�Ltrhbk‘mc)�hm�1
2)�ctd�sn�cdbkhmhmf�r‘kdr)�
‘mc�hmbqd‘rdc�bnlodshshnm�eqnl�V‘kl‘qs�‘mc�S‘qfds�hm�sgd�BC�rdfldms)�‘r�vdkk�‘r�hStmdr�hm�chfhs‘k�ltrhb-�Rtm�
B‘ohs‘k�O‘qsmdqr�Hmb-)�‘�oqhu‘sd�dpthsx�ehql)�otqbg‘rdc�sgd�e‘hkhmf�ehql�enq�nmkx�sgd�‘
tloshnm�ne�Ltrhbk‘mc&r�cdas�
‘mc�kd‘rd�nakhf‘shnmr-�Aq‘c�?mcdqrnm)�vgn�rt
ddcdc�Rbgtkyd�‘r�BDN�hm�1
1)�cd
qhadc�sgd�Ltrhbk‘mc�udmstqd�
‘r�z‘�udqx�dwodmrhud�ats�onvdqetk�kd‘qmhmf�dwodqhdmbd�enq�Adrs�Atx-–14
?esdq�‘� svn,xd‘q�gh‘str� eqnl�‘bpthrhshnmr)�Adrs�Atx�otqbg‘rdc�?tchnUhrhnmr�‘mc�O‘bhehb�R‘kdr� hm�1
4-15)�16�
Hm�1
6)�Rd‘sskd,a‘rdc�Rod‘jd‘rx�Hmb-�v‘r�antfgs)�‘mc�enkknvhmf�sg‘s�otqbg‘rd)�Adrs�Atx�‘bpthqdc�M‘orsdq�‘mc�
Cd‘ksqdd�hm�1
7-�Sgd�‘bpthrhshnm�ne�Lhmcrg‘es�enkknvdc�hm�1/00�’vghbg�v‘r�sgdm�chudrsdc�hm�1/03(-�Ats�rhmbd�
adbnlhmf�BDN)�Inkx�g‘r�mns�l‘cd�‘�otqbg‘rd)�ats�Adrs�Atx�g‘r�chudrsdc�nodq‘shnmr�ntsrhcd�Mnqsg�?ldqhb‘-
HMSDQM?SHNM?K�DWO?MRHNM�SGDM�QDSQDMBGLDMS
Adrs�Atx�dwo‘mcdc�hmsdqm‘shnm‘kkx�adenqd�qdenbtrhmf�nm�sgd�Mnqsg�?ldqhb‘m�l‘qjds)�‘mc�hm�1/05�nmkx�7-3�odq,
dms�ne�hsr�r‘kdr�vdqd�hmsdqm‘shnm‘k-17�Hsr�ehqrs�bqn
,anqcdq�dwo‘mrhnm�v‘r�sgd�1
0�‘bpthrhshnm�ne�Etstqdrgno�Ksc-)�
‘�B‘m‘ch‘m�dkdbsqnmh
�bg‘hm)�vghbg�‘ccdc�‘mmt‘k�r‘kdr�ne�#0-21�ahkkhnm-18�L‘hms‘hmhmf�Etstqdrgno�‘r�‘�vgnkkx�
nvmdc�rtarhch‘qx)�Adrs�Atx�k‘sdq�rsqdmfsgdmdc�hsr�B‘m‘ch‘m�oqdrdmbd�ax�nodmhmf�66�aq‘mcdc�rsnqdr�ne�hsr�nvm-2
Adrs�Atx� drs‘akhrgdc� ‘m� ‘bshud� oqdrdmbd� hm� sgd� fqnvhmf�?rh‘m�l‘qjdsr�vhsg� hsr� 1
5� ‘bpthrhshnm� ne� ‘�l‘inqhsx�
hmsdqdrs�hm�sgd�qds‘hk�bg‘hm�Ih‘mfrt�Ehud�Rs‘q�?ookh‘mbd�Bn-)�Ksc-)�Bghm‘&r�entqsg,k‘qfdrs�‘ookh‘mbd�‘mc�bnmrtldq,
dkdbsqnmh
�qds‘hkdq)�enq�#07/�lhkkhnm-20�?�xd‘q�k‘sdq�nm�I‘mt‘qx�15)�1
6)�sgd�ehqrs�Adrs�Atx�rsnqd�hm�Bghm‘…sntsdc�
‘r�sgd�k‘qfdrs�Adrs�Atx�hm�dwhrsdmbd…nodmdc�hm�Rg‘mfg‘h-21�Nsgdq�qdfhnmr�pthbjkx�enkknvdc-�Ax�1
7)�Adrs�Atx�g‘c�
‘mmntmbdc�sgd�nodmhmf�ne�hsr�ehqrs�ohkns�rsnqdr�hm�Ldwhbn�‘mc�Stqjdx)�‘r�vdkk�‘r�ltkshokd�aq‘mcdc�rtodqrsnqdr�hm�sgd�
Tmhsdc�Jhmfcnl�‘mc�nsgdq�Dtqnod‘m�bntmsqhdr-22�Gnvdudq)�Adrs�Atx�dwhsdc�Stqjdx�hm�1/00)23�sgd�Tmhsdc�Jhmfcnl�
hm�1/00�‘mc�‘kk�ne�Dtqnod�hm�1/02)24�‘mc�Bghm‘�hm�1/03-25�Hm�1/08)�Adrs�Atx�nmkx�g‘c�‘�oqdrdmbd�hm�Mnqsg�?ldqhb‘�
’Tmhsdc�Rs‘sdr)�B‘m‘c‘)�‘mc�Ldwhbn()26�vghbg�hr�nmkx�sgd�rdbnmc�k‘qfdrs�bnmrtldq dkdbsqnmh
�l‘qjds�‘esdq�Bghm‘-27
KD?CDQRGHO�BG?MFDR
?esdq�g‘uhmf�itrs�svn�BDNr�hm�hsr�ehqrs�32�xd‘qr�ne�nodq‘shnmr�’Qhbg‘qc�Rbgtkyd�‘mc�ghr�rt
d
nq�Aq‘c�?mcdqrnm()�
Adrs�Atx�vdms�sgqntfg�sgqdd�sno�kd‘cdqr�hm�‘�rhw,lnmsg�odqhnc�hm�1/01-28�Aqh‘m�Ctmm�‘
tldc�sgd�gdkl)�hm�Itmd�
1
8)�‘mc�gd�g‘c�addm�sqxhmf�sn�zqhfgs–�Adrs�Atx&r�zrgho–�enq�sgqdd�xd‘qr-�Ctmm�adkhdudc�sg‘s�sgd�bnlo‘mx&r�ogxrh,
‘k�rsnqdr�vdqd�‘m�‘
ds9�zSgdqd�‘qd�rshkk�sghmfr�hm�sgd�ogxrhb‘k�vnqkc�sg‘s�‘qd�fnhmf�sn�ad�hlonqs‘ms9�dwodqs�‘cuhbd
‘mc�sgd�‘ahkhsx�sn�rdd�‘mc�sntbg�sgd�k‘sdrs�s‘akdsr-–3/�Ats�sn�bts�bnrsr)�gd�‘mmntmbdc�hm�1/00�sg‘s�Adrs�Atx�vntkc�
qdctbd�hsr�zahf�anw–�qd‘k�drs‘sd�ax�0/�odqbdms�nudq�ehud�xd‘qr�ax�bknrhmf�rnld�rsnqdr)�qdmdfnsh‘shmf�kd‘rdr)�‘mc�kdsshmf�
nld�kd‘rdr�dwohqd-30�Sgntr‘mcr�ne�vnqjdqr)�hmbktchmf�rnld�5
�ghfgkx�sq‘hmdc�Fddj�Rpt‘c�rs‘eedqr)�vdqd�k‘hc�nee-31
Lnuhmf�enqv‘qc)�Ctmm�ok‘mmdc�sn�nodm�5
�sn�7
�mdv�Adrs�Atx�Lnahkd�rsnqdr)�enbtrhmf�nm�rl‘qsognmdr�‘mc�
nsgdq�lnahkd cduhbdr-32�Sgd�fn‘k�v‘r�sn�hmbqd‘rd�sgd�mtladq�ne�qds‘hk�onhmsr�ne�bnms‘bs�vghkd�cdbqd‘rhmf�rpt‘qd�enns,
‘fd)�sgdqdax�hmbqd‘rhmf�sgd�bnlo‘mx&r�ekdwhahkhsx�‘r�‘�ltkshbg‘mmdk�qds‘hkdq-33�Gd�‘krn�hmbqd‘rdc�Adrs�Atx&r�nmkhmd�
needqhmfr�ax�lnqd�sg‘m�1/)
�hsdlr�sn�aqn‘cdm�hsr�zuhqst‘k–�ennsoqhms-34
Tmenqstm‘sdkx)�sgd�bnlo‘mx&r�rsnbj�oqhbd�bnmshmtdc�sn�cdbkhmd-�?m‘kxrsr�edks�Ctmm�g‘c�addm�rknv�sn�qdbnfmhyd�
sgd�bnlo‘mx&r�oqnakdlr)�‘mc�gd�v‘r�mns�adhmf�‘ffqd
hud�dmntfg�hm�rgtsshmf�cnvm�tmcdqodqenqlhmf�tmhsr-�Ctmm�
‘mmntmbdc�ghr�qdrhfm‘shnm�hm ?oqhk�1/01�‘esdq�17�xd‘qr�‘r�‘�Adrs�Atx�dloknxdd�‘esdq�‘kkdf‘shnmr�ne�odqrnm‘k�qdk‘shnm,
gho�vhsg�‘m�dloknxdd-35
Sgd�e‘kknts�chc�mns�rsno�sgdqd-�Qhbg‘qc�Rbgtkyd)�vgn�v‘r�sgdm�rdquhmf�‘r�bg‘hql‘m�ne�sgd�an‘qc)�rsdoodc�cnvm�
eqnl�ghr�onrhshnm�‘s�sgd�Itmd�1/01�an‘qc�lddshmf-�Sgd�an‘qc�zdwo‘mcdc�ghr�qnkd–�ax�fq‘mshmf�ghl�sgd�gnmnq‘qx�
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
3
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
shskd�ne�zEntmcdq�‘mc�Bg‘hql‘m�Dldqhstr–�‘mc�odqlhssdc�ghl�sn�ehmhrg�nts�ghr�sdql�‘r�chqdbsnq�sgqntfg�1/02-�Sgd�
hmudrshf‘shud�qdonqs� hmchb‘sdc�sg‘s�Rbgtkyd�g‘c�kd‘qmdc�‘ants�Ctmm&r�‘bshnmr)�bnmeqnmsdc�ghl)�v‘qmdc�ghl�sg‘s�
tbg�adg‘uhnq�v‘r�bnmsq‘qx�sn�bnlo‘mx�onkhbx)�ats�sgdm�cqnoodc�sgd�h
td�vgdm�Ctmm�cdmhdc�sgd�‘kkdf‘shnmr-�Sn�
qdbshex�sghr�aqd‘bg�ne�dsgh
)�sgd�an‘qc�m‘ldc�G‘shl�Sx‘aih)�bg‘hq�ne�sgd�‘tchs�bnllhssdd)�‘r�sgd�mdv�bg‘hql‘m�‘mc�
ghqdc�‘m�dwsdqm‘k�bnmrtks‘ms�sn�qtm�sgd�rd‘qbg�oqnbd
�enq�‘�mdv�BDN-�Hm�sgd�hmsdqhl)�Fdnqfd�Lhj‘m�HHH)�‘mnsgdq�
chqdbsnq)�‘fqddc�sn�s‘jd�nm�sgd�c‘x,sn,c‘x�qdronmrhahkhshdr�enq�qtmmhmf�sgd�bnlo‘mx-36�Sgd�an‘qc�‘krn�qdbnlldmcdc�
sg‘s�rg‘qdgnkcdqr�‘ooqnud�sgd�cdbk‘
hehb‘shnm�ne�sgd�an‘qc)�l‘jhmf�d‘bg�chqdbsnq�rtaidbs�sn�‘mmt‘k�qd,dkdbshnm-37
G‘hkhmf�eqnl�M‘mbx)�Eq‘mbd)�Gtadqs�Inkx�v‘r�‘oonhmsdc�Adrs�Atx�BDN�nm�?tftrs�1/)�1/01-38�Hm�oqhnq�inar)�Inkx�
g‘c�dmfhmddqdc�rt
d
etk�stqm‘qntmc�rsq‘sdfhdr�enq�Uhudmch�‘mc�B‘qkrnm�V‘fnmkhs�Sq‘udk)4/�‘mc�gd�r‘v�mn�qd‘rnm�
vgx�Adrs�Atx�vntkc�ad�‘mx�cheedqdms-�Rshkk)�rdudq‘k�hmudrsnqr�vdqd�mns�g‘oox�vhsg�ghr�‘oonhmsldms-�Rnld�r‘v�Inkx&r�
k‘bj�ne�qds‘hk�dwodqhdmbd�‘r�‘�rhfmhehb‘ms�khlhs‘shnm)�vghkd�nsgdqr�vnmcdqdc�he�sgd�bnlo‘mx�g‘c�qtrgdc�sgd�rd‘qbg�
itrs�rn�hs�bntkc�oqnbddc�vhsg�hsr�qdrsqtbstqhmf�ok‘m-40�Hs�v‘r�mns�tmshk�1/04�sg‘s�Inkx�adf‘m�sn�vhm�rnld�qdrodbs�enq�
ghr�stqm‘qntmc�deenqsr�’rdd�Dwghahs�1�enq�Adrs�Atx�ehm‘mbh‘k�c‘s‘(-�Gtadqs�Inkx&r�rt
d
�hr�qdekdbsdc�hm�ghr�rdkdbshnm�
ne�Bnqhd�A‘qqx�‘r�ghr�rt
d
nq�‘mc�ghr�bnmshmthmf�‘r�sgd�bg‘hql‘m�ne�sgd�an‘qc-41
Rgd�Bnmrtldp,Ckdbspnmh
�PdsThk�Hmctrspx
?�AQHDE�GHRSNQX
Sgd�bnmrtldq,dkdbsqnmh
� qds‘hk� hmctrsqx� fqdv� q‘ohckx� hm� sgd� rdbnmc�g‘ke�ne� sgd�1/sg�bdmstqx�ctd� sn� rdudq‘k�
nmudqfhmf�sqdmcr-�?s�sgd�dmc�ne�Vnqkc�V‘q�HH)�‘�rhfmhehb‘ms�onqshnm�ne�sgd�T-R-�onotk‘shnm�lhfq‘sdc�eqnl�bhshdr�
sn�rtatqar)�bqd‘shmf�‘�mddc�enq�rtatqa‘m�qds‘hk�bdmsdqr-�?s�sgd�r‘ld�shld)�sgd�bnrs�ne�sdbgmnknfx�cdbqd‘rdc)�bnq,
qdronmchmf�sn�‘m�hmbqd‘rd�hm�cdl‘mc�enq�sdkduhrhnmr�‘mc�nsgdq�bnmrtldq�dkdbsqnmh
-�L‘mx�ne�sgdrd�mdv�btrsnldqr�
vdqd�oqhbd,rdmrhshud)�ehqrs,shld�gnldnvmdqr)�vgn�vdqd�vhkkhmf�sn�‘
dos�cdbqd‘rdc�btrsnldq�rdquhbd�hm�qdstqm�enq�
knvdq�oqhbdr)�kd‘chmf�sn�‘�q‘ohc�fqnvsg�hm�ch
ntms�rsnqdr-42
?r� sgd� bghkcqdm� ne� sgd� VVHH� fdmdq‘shnm…sgd� a‘ax� annldqr…qd‘bgdc� ‘ctksgnnc� hm� sgd� 086
)� cdl‘mc� enq�
nmrtldq dkdbsqnmh
�rn‘qdc-�Qds‘hkdqr�rghesdc�eqnl�b‘qqxhmf�itrs�nmd�nq�svn�khmdr�ne�dptholdms�snv‘qc�rsnbjhmf�‘�
chudqrd�rds�ne�oqnctbs�khmdr-�Rsqnmf�hmctrsqx�fqnvsg�bnmshmtdc�sgqntfg�sgd�k‘sd�087
)�tmshk�sgd�mdv�UBQ�l‘qjds�
adb‘ld�r‘stq‘sdc�‘mc�‘�qdbd
hnm�rknvdc�bnmrtldq�r‘kdr-�Ax�0880)�87�odqbdms�ne�‘kk�gnldr�g‘c�‘s�kd‘rs�nmd,bnknq�
SU�‘mc 66�odqbdms�ne�sgnrd�sg‘s�nvmdc�SUr�‘krn�nvmdc�‘�UBQ-�Sgd�Tmhsdc�Rs‘sdr�‘knmd�g‘c�‘s�kd‘rs�0/)
�q‘chn)�
sdkduhrhnm)�‘mc�bnmrtldq,dkdbsqnmh
�rsnqdr�sg‘s�g‘c�roqtmf�to�sn�ldds�sgd�rtqfd�hm�cdl‘mc-�Vhsg�l‘qjds�r‘stq‘,
shnm)�gnvdudq)�fqnvsg�hm�sgd�088
�v‘r�khlhsdc�sn�sgd�qdok‘bdldms�‘mc�tofq‘chmf�ne�dwhrshmf�cduhbdr-�?r�‘�qdrtks)�
nlodshshnm�hmsdmrhehdc�‘mc�l‘mx�bnlo‘mhdr)�rtbg�‘r�Ghfgk‘mc�Rtodqrsnqdr�Hmb-)�kdes�sgd�dkdbsqnmh
�l‘qjds-�
Sdbgmnknfx�‘cu‘mbdldmsr�‘mc�hloqnudc�dbnmnlhb�bnmchshnmr�hm�sgd�lhc,�sn�k‘sd,088
�‘f‘hm�kdc�sn�‘�odqhnc�ne�
fqnvsg�sg‘s�rtoonqsdc�sgd�qhrd�ne�k‘qfd�rtodqrsnqdr�rtbg�‘r�Adrs�Atx�‘mc�Bhqbths�Bhsx-�Hm�0887)�r‘kdr�‘s�Adrs�Atx�‘mc�
Bhqbths�Bhsx�hmbqd‘rdc�ax�10�odqbdms�‘mc�37�odqbdms)�qdrodbshudkx-�Hs�v‘r�‘qntmc�sghr�shld�sg‘s�sgd�hmctrsqx�e‘bdc�
xds�‘mnsgdq�fqd‘s�rg‘jdto…sgd�ahqsg�ne�nmkhmd�qds‘hkhmf-
Hm�0887)�?l‘ynm-bnl)�‘�mdv�bnlodshsnq)�dmsdqdc�sgd�bnmrtldq,dkdbsqnmh
�l‘qjds�ax�needqhmf�ltrhb�BC�r‘kdr�
nmkhmd-43�Mns�vhkkhmf�sn�bdcd�sghr�onsdmsh‘kkx�ktbq‘shud�l‘qjds)�Bhqbths�Bhsx)�Svddsdq�Gnld�Dmsdqs‘hmldms�Fqnto)�
‘mc�Ntsonrs-bnl�‘kk�nodmdc�nmkhmd�bnmrtldq,dkdbsqnmh
�rhsdr�ne�sgdhq�nvm�vhsghm�sgd�mdws�xd‘q-�Adrs�Atx�enkknvdc�
ths�vhsg�Adrsatx-bnl�hm�1
)�l‘jhmf�hs�‘�qdk‘shudkx�k‘sd�lnudq�hm�d,qds‘hkhmf-44�Gnvdudq)�r‘kdr�ne�BCr�vdqd�cdbh,
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
4Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
l‘sdc�enkknvhmf�sgd�rt
d
�ne�?ookd&r�hStmdr�sg‘s�‘kknvdc�bnmrtldqr�sn�atx�nmkx�sgd�rnmfr�sgdx�v‘msdc�‘mc�ok‘x�
sgdl�‘kk�nm�‘m�hOnc-
Sgd�‘ahkhsx�sn�qd‘bg�mdv�bnmrtldqr�nmkhmd)�bntokdc�vhsg�hmbqd‘rdc�hmsdqdrs�hm�chfhs‘k�b‘ldq‘r�‘mc�CUCr)�kdc�
sn�xds�‘mnsgdq�odqhnc�ne�q‘ohc�dwo‘mrhnm�sgqntfgnts�sgd�d‘qkx�1
-�Sghr�shld)�gnvdudq)�fqnvsg�n
tqqdc�oqhl‘q,
hkx� sgqntfg�‘bpthrhshnmr�‘mc� hmctrsqx�bnmrnkhc‘shnm-�Eqnl�0883�sn�1
6)� sgd�sgqdd� k‘qfdrs�bnmrtldq,dkdbsqnmh
�
qds‘hkdqr�’Bhqbths�Bhsx)�Adrs�Atx)�‘mc�Q‘chn�Rg‘bj(�bnmrnkhc‘sdc�sgdhq�bnlahmdc�l‘qjds�rg‘qd�eqnl�‘ooqnwhl‘sdkx�
11�odqbdms�sn�34�odqbdms-�Ld‘mvghkd)�sgd�sns‘k�mtladq�ne�ehqlr�hm�dkdbsqnmh
�qds‘hkhmf�vhsg�nudq�0
�dloknxddr�
cdbkhmdc�ax�entq�odqbdms�odq�‘mmtl�eqnl�0887�sn�1
3-45
Eqnl�1
4�sn�1
6)�sgd�hmctrsqx�bnlontmc�‘mmt‘k�fqnvsg�q‘sd�’B?FQ(�v‘r�‘ooqnwhl‘sdkx�rhw�odqbdms-�Vhsg�
sgd�nmrds�ne� sgd�fkna‘k�qdbd
hnm)�fqnvsg�edkk� sn�2-3�odqbdms� hm�1
7�‘mc�—�/-3�odqbdms� hm�1
8-46�Sgd�hmctrsqx�
s‘qsdc� sn� qdbnudq� hm�1/0/�ats�fqnvsg�qdl‘hmdc�qdk‘shudkx� ek‘s� enq� sgd�mdws� rdudq‘k�xd‘qr-47�Rhmbd�1/04)� r‘kdr�ne�
nmrtldq�dkdbsqnmh
�hm�Mnqsg�?ldqhb‘�g‘r�fqnvm�‘mc�hs�hr�oqnidbsdc�sn�bnmshmtd�fqnvhmf�ats�‘s�‘�rknvdq�q‘sd�’rdd�
Dwghahs�2(-� Hm�1/06)� sgd�‘udq‘fd� qdudmtd�odq�btrsnldq�otqbg‘rhmf�bnmrtldq�dkdbsqnmh
�v‘r�#078-/1)�‘mc� sg‘s�
g‘r�k‘qfdkx�gdkc�rsd‘cx�hm�1/08�‘s�#080-5/�hm�1/08-48�Sgd�lnrs�onotk‘q�oqnctbsr�hmbktcd�k‘osnor)�ldlnqx�b‘qcr)�
Aktdsnnsg�rod‘jdqr.gd‘cognmdr)�rl‘qs�sdkduhrhnmr)�vhqdkd
�d‘qognmdr)�TRA�cqhudr)�‘mc�unhbd,‘bshu‘sdc�rod‘jdqr-5
Etqsgdq)�sgd�k‘qfdrs�btrsnldq�cdlnfq‘oghb�hr�14�sn�23�xd‘qr�nkc-50�Dwghahs�3�rgnvr�Adrs�Atx&r�qdudmtd�rg‘qd�hm�sgd
Tmhsdc Rs‘sdr�’hm�odqbdms(�hm�cheedqdms�oqnctbs�‘mc�rdquhbd�rdfldmsr-
FDMDQ?K�SQDMCR
Sgd�bnmrtldq,dkdbsqnmh
�qds‘hk�hmctrsqx�hr�ansg�bxbkhb‘k�‘mc�rd‘rnm‘k-�Hmctrsqx�r‘kdr�ctqhmf�sgd�gnkhc‘x�rd‘rnm�
hm�sgd�entqsg�pt‘qsdq�sxohb‘kkx�dwbddc�r‘kdr�eqnl�sgd�nsgdq�sgqdd�pt‘qsdqr�bnlahmdc-�?r�lnrs�bnmrtldq,dkdbsqnmh
�
hsdlr�‘qd�bnmrhcdqdc�ch
qdshnm‘qx�otqbg‘rdr)�r‘kdr�‘qd�chqdbskx�bnqqdk‘sdc�vhsg�l‘bqndbnmnlhb�e‘bsnqr)�hmbktchmf�
nmrtldq� bnmehcdmbd)� tmdloknxldms)� sgd�gntrhmf�l‘qjds)� ‘mc� sgd� ‘ahkhsx� sn�nas‘hm� bqdchs-51�Sn� hmbqd‘rd� r‘kdr�
hm�nsgdq�pt‘qsdqr)�?l‘ynm�ohnmddqdc�Oqhld�C‘x�hm�Itkx)�‘mc)�vghkd�nsgdq�qds‘hkdqr�g‘ud�hlhs‘sdc�hs)�?l‘ynm�rshkk�
f‘hmr�lnqd�‘r�hs�cqhudr�‘cchshnm‘k�bnmrtldqr�sn�adbnld�Oqhld�rta
qhadqr-52�Ax�1/08)�0
�lhkkhnm�?ldqhb‘mr�vdqd�
hfmdc�to�enq�Oqhld�ldladqrgho�’vghbg�mnv�bnrsr�#008�‘�xd‘q(-
Cdbkhmhmf�oqhbdr�ok‘bd�bnmrs‘ms�oqd
tqd�nm�bnmrtldq,dkdbsqnmh
�l‘mte‘bstqdqr�sn�hloqnud�etmbshnm‘khsx)�onq,
s‘ahkhsx)�‘mc�rsxkd�‘r�‘�v‘x�ne�cheedqdmsh‘shmf�sgdhq�oqnctbsr�eqnl�bnlodshsnqr-�?r�‘�qdrtks)�sgd�oqnctbs�khed�bxbkd�g‘r�
fqnvm�hmbqd‘rhmfkx�rgnqsdq�‘r�l‘mte‘bstqdqr�b‘mmha‘khyd�sgdhq�nvm�oqnctbsr�hm�‘m�deenqs�sn�l‘hms‘hm�btrsnldq�hmsdq,
drs�‘mc�knx‘ksx-�Nmd�v‘x�sg‘s�Adrs�Atx�g‘r�‘c‘osdc�sn�knvdq�oqhbdr�hr�sn�cdudkno�oqhu‘sd�k‘adk�oqnctbsr-�Enq�dw‘lokd)�
tmcdq�hsr�Hmrhfmh‘�aq‘mc�ne�sdkduhrhnmr)�Adrs�Atx�athkcr�sdkduhrhnmr�a‘rdc�nm�sgd�kdesnudq�o‘qsr�eqnl�l‘mte‘bstqdqr�
enq�‘�oqhnq�xd‘q-53�Adrs�Atx�g‘r�‘�onqsenkhn�ne�nsgdq�oqhu‘sd,k‘adk�aq‘mcr�’h-d-)�Cxmdw)�Hmhs)�Qnbjdsehrg)�Fddj�Rpt‘c(�
‘r�o‘qs�ne�Adrs�Atx&r�cdedmrd�‘f‘hmrs�nmkhmd�bnlodshsnqr-54�Cxmdw�hmunkudr�‘�u‘qhdsx�ne�dbnmnlhb‘kkx�oqhbdc�bnl,
otsdq�‘mc�dmsdqs‘hmldms�‘
d
nqhdr�rtbg�‘r�rsnq‘fd�ldch‘)�c‘s‘�‘mc�onvdq�b‘akdr)�vdab‘lr)�‘mc�neehbd�rtookhdr)�
vhsg�qdbdms�enq‘xr�hmsn�dkdbsqnmh
�rtbg�‘r�ghfg,cdehmhshnm�KBC�sdkduhrhnmr-�Hmhs�needqdc�rsnq‘fd�rnktshnmr�enq�l‘mx�
ne�sgd�oqnctbsr�l‘cd�ax�ansg�Hmrhfmh‘�‘mc�Cxmdw)�hmbktchmf�ldch‘�rsnq‘fd)�dptholdms�a‘fr)�snsdr)�‘mc�etqmhstqd�
enq�gnld�sgd‘sdqr-�Qnbjdsehrg&r�ghfg,dmc�b‘akdr�vdqd�oqdcnlhm‘mskx�trdc�hm�gnld,sgd‘sdq�hmrs‘kk‘shnm�‘mc�rdsto�‘r�
vdkk�‘r�nm�bnlotsdq�‘
d
nqhdr)�oqnuhchmf�‘mnsgdq�bnlokdldms‘qx�oqnctbs�khmd-�Sgd�Fddj�Rpt‘c�v‘r�sgd�lnrs�
vdkk,jmnvm�ne�‘kk�ne�Adrs�Atx&r�oqhu‘sd�aq‘mcr)�‘mc�oqnuhcdc�ansg�bnlotsdq�qdo‘hq�‘mc�hmrs‘kk‘shnm�rdquhbdr�‘r�vdkk�
‘r�ghfg,dmc�bnlotsdq�‘
d
nqhdr�‘mc�b‘akdr-�
Adrs�Atx�g‘r�‘krn�kdudq‘fdc�‘�bnllhsldms�sn�dmuhqnmldms‘k�rtrs‘hm‘ahkhsx�‘mc�bnqonq‘sd�rnbh‘k�qdronmrhahkhsx�sn�
qdbxbkd�dkdbsqnmh
-55�Sgd�bnlo‘mx&r�dkdbsqnmh
�qdbxbkhmf�oqnfq‘l�g‘r�jdos�lnqd�sg‘m�1�ahkkhnm�ontmcr�ne�dptho,
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
5
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
ldms�nts�ne�k‘mcehkkr-56�Hmhsh‘kkx)�hsr�qdbxbkhmf�oqnfq‘l�stqmdc�‘�oqnehs)�ats�knvdq�bnllnchsx�oqhbdr�knvdqdc�qdudmtdr�
‘mc�ghfgdq�bnrsr�kdc�hs�sn�bg‘qfd�#14�sn�qdbxbkd�sdkduhrhnmr�‘mc�bnlotsdq�lnmhsnqr�hm�1/05�rn�sgd�qdbxbkhmf�oqnfq‘l�
ntkc�aqd‘j�dudm-57�?m�‘cu‘ms‘fd�ne�sgd�qdbxbkhmf�oqnfq‘l�hr�sg‘s�cqnoohmf�nee�nts,ne,c‘sd�dkdbsqnmh
�rshkk�aqhmfr�
trsnldqr�sn�Adrs�Atx&r�rsnqdr-�?mnsgdq�‘c‘os‘shnm�ax�Adrs�Atx�hr�sn�needq�btrsnldqr�sgd�‘ahkhsx�sn�zsq‘cd�hm–�nkcdq�
oqnctbsr�enq�mdv�nmdr�sg‘s�gdkor�cqhud�‘cchshnm‘k�r‘kdr-58
?�chrshmbshud�sqdmc�hm�sgd bnmrtldq,dkdbsqnmh
�hmctrsqx�hr�sg‘s�ne�dudq,e‘kkhmf�oqhbdr-�Oqnctbs�‘mc�o‘qs�b‘mmha‘k,
hy‘shnm�g‘r�kdc�sn�sgd�dunktshnm�ne�bnmrtldq�dkdbsqnmh
�‘r�‘�ld‘rtqd�ne�rnbhndbnmnlhb�rs‘str�hm�bntmsqhdr)�rtbg�‘r�
sgd�Tmhsdc�Rs‘sdr-�Ehm‘mbh‘k�vd‘ksg�atxr�‘
d
�sn�sgd�k‘sdrs�‘mc�fqd‘sdrs�sdbgmnknfx-�?r�oqhbdr�e‘kk)�sgd�sdbgmnknfx�
adbnldr�‘eenqc‘akd�sn�‘�vhcdq�cdlnfq‘oghb)�ats�sgd�sdbgmnknfhb‘k�dkhsd�g‘ud�‘kqd‘cx�lnudc�nm�sn�sgd�mdws�fdmdq‘,
shnm�ne�cduhbdr-�Bdkktk‘q�ognmdr�vdqd�nmbd�e‘ms‘rx�f‘cfdsr�rddm�nmkx�hm�I‘ldr�Anmc�lnuhdr-�Hm�sgd�087
)�xtoohdr�
oqntckx�chrok‘xdc�sgdhq�bdkk�ognmdr�nm�sgdhq�adksr�‘r�‘�rs‘str�rxlank-�Sgdrd�c‘xr)�md‘qkx�dudqxnmd�g‘r�‘�bdkk�ognmd�
vgnrd�cdrhfm�‘mc�etmbshnm‘khsx�l‘jd�d‘qkx�zchmnr‘tq–�ognmdr�k‘tfg‘akd)�l‘jhmf�lnahkd�sgd�oqnctbs�b‘sdfnqx�vhsg�
sgd�e‘rsdrs�qdeqdrg�ne oqnctbsr-6/�K‘osnor)�k‘qfd,
qddm�SUr)�‘mc�rl‘qsognmdr�g‘ud�dminxdc�‘�rhlhk‘q�oqnkhedq‘shnm�
‘lnmf�sgd�l‘
dr)�‘mc�k‘osnor�qdl‘hm�qdkdu‘ms�ctd�sn�atrhmd
dr�‘mc�f‘lhmf-�Rshkk)�snc‘x&r�ltrs,g‘ud�hr�snlnq,
qnv&r�a‘qf‘hm�bnllnchsx�‘s�V‘kl‘qs)�rn�qds‘hkdqr�ltrs�rsqhjd�vghkd�sgd�oqnctbs�hr�gns-�?�oqnctbs�vhkk)�hm�hsr�annl�
c‘xr)�‘ssq‘bs�‘�udqx�cheedqdms�bkhdmsdkd�sg‘m�hm�sgd�k‘sdq)�kd
,dwbktrhud�og‘rdr�ne�hsr�rgdke�khed-�?cchshnm‘kkx)�?ookd�enq,
v‘qc�hmsdfq‘sdc�hmsn�bnmrtldq�dkdbsqnmh
�ax�cdudknohmf�?ookd�rsnqdr�hm�1
0-�?ookd�rsnqdr�bnmshmtd�sn�cnlhm‘ms�
sgd�ehdkc�vhsg�nmd�ne�sgd�lnrs�oqnehs‘akd�odq�rpt‘qd�hm�sgd�dmshqd�qds‘hk�hmctrsqx-�
ITrs�Tmc�Btppdms�Bnlodshsnp
Sgd�bnmrtldq,dkdbsqnmh
�qds‘hk�hmctrsqx�g‘r�bnmrnkhc‘sdc-�Oqhnq�sn�sgd�1
7�qdbd
hnm)�sgd�sno�sgqdd�bnmrtldq,
dkdbsqnmh
�qds‘hkdqr�’Bhqbths�Bhsx)�Adrs�Atx)�‘mc�Q‘chn�Rg‘bj(�‘
ntmsdc�enq�31�odqbdms�ne�sgd�T-R-�l‘qjds-�Hm�
nlo‘qhrnm)�sgd�sno�sgqdd�ehqlr�hm�gnld�hloqnudldms�‘mc�neehbd�rtookx�qds‘hk�bnmsqnkkdc�47�odqbdms�‘mc�68�odq,
dms)�qdrodbshudkx-�Gnvdudq)�ax�1/05)�Adrs�Atx�g‘c�sgd�k‘qfdrs�vhsg�nudq�1/�odqbdms�ne�sgd�T-R-�l‘qjds)�enkknvdc�ax�
?l‘ynm)�vghbg�hr�md‘qhmf�1/�odqbdms�l‘qjds�rg‘qd�‘mc�vhkk�khjdkx�nudqs‘jd�Adrs�Atx�‘r�l‘qjds�kd‘cdq-60�?l‘ynm�
g‘r�‘kqd‘cx�o‘
dc�V‘kl‘qs�hm�bnmrtldq�dkdbsqnmhb�r‘kdr)�‘r�vdkk�‘r�sgd�r‘kdr�ne�bnmrtldq�dkdbsqnmhb�bnlo‘mhdr)�
hmbktchmf�Gdvkdss�O‘bj‘qc)�Cdkk)�‘mc�?ookd�’Dwghahs�4�rgnvr�bnmrtldq�dkdbsqnmh
�l‘qjds�rg‘qd� hm�sgd�Tmhsdc�
Rs‘sdr�ne� sgd� sno,sgqdd�bnlo‘mhdr(-61�Nmkhmd�r‘kdr)�lnqdnudq)�‘qd� qdoqdrdmshmf�‘m� hmbqd‘rhmf�rg‘qd�ne� sns‘k�bnm,
tldq�dkdbsqnmhb�r‘kdr-�Hm�1/08)�sgd�sno�ehud�nmkhmd�bnmrtldq�dkdbsqnmh
�qds‘hkdqr�vdqd�?l‘ynm)�?ookd)�Adrs�Atx)�
V‘kl‘qs)�‘mc�Cdkk-62
BHQBTHS�BHSX
Sgd�rsnqx�ne�Adrs�Atx hr�mns�bnlokdsd�vhsgnts�‘m�‘
ntms�ne�sgd�qhrd�‘mc�e‘kk�ne�Bhqbths�Bhsx)�nmbd�sgd�bnlo‘mx&r�
lnrs�enqlhc‘akd�bnlodshsnq-�Vgdm�hsr�entmcdq)�R‘ltdk�Vtqsydk)�kd‘qmdc�sg‘s�sgd�ehqrs�bnlldqbh‘k�sdkduhrhnm�rs‘shnm�
hm�sgd�Rntsg�v‘r�rnnm�sn�ghs�sgd�‘hqv‘udr)�gd�cdbhcdc�sg‘s�‘�rsnqd�rdkkhmf�SUr�rntmcdc�ktbq‘shud-63�Gd�nodmdc�sgd�
ehqrs�V‘qcr�Bnlo‘mx�rsnqd�hm�Qhbglnmc)�Uhqfhmh‘)�hm�0838-�Rnnm)�Vtqsydk�‘mc�ghr�o‘qsmdq�chudqrhehdc�sgdhq�oqnctbs�
needqhmfr�sn�hmbktcd�‘�q‘mfd�ne�gnld�‘ookh‘mbdr ‘r�vdkk�‘r�sdkduhrhnm�rdsr-�?r�oqnehsr�fqdv�nudq�sgd�mdws�cdb‘cd)�sgdx�
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
6Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
nodmdc�sgqdd�‘cchshnm‘k�rsnqdr�hm�sgd�Qhbglnmc�‘qd‘-�Sgd�bnlo‘mx�vdms�otakhb�hm�0850)�rdkkhmf�00/)
�rg‘qdr�‘s�
‘�oqhbd�ne�#4-264�sgqntfg�‘�A‘kshlnqd�rsnbjaqnjdq-
V‘qcr�dwo‘mcdc�‘bqn
�sgd�Rntsgd‘rs�‘mc�Lhcvdrs�sgqntfg�‘�rdqhdr�ne�‘bpthrhshnmr�eqnl�0854�sn�086/)�‘esdq�
vghbg�R‘ltdk�Vtqsydk�o‘
dc�sgd�snqbg�nm�sn�ghr�rnm)�?k‘m�Vtqsydk-�Hm�0863)�V‘qcr�‘qft‘akx�rteedqdc�‘cudqrd�
deedbsr�ctd�sn�hsr�q‘ohc�dwo‘mrhnm�‘mc�chudqrhehb‘shnm)�knrhmf�#2�lhkkhnm�nm�nudq‘kk�r‘kdr�ne�#58�lhkkhnm-�Hm�qdronmrd)�
?k‘m�Vtqsydk�vhsgcqdv�V‘qcr�eqnl�‘qd‘r�ntsrhcd�hsr�bnqd�bnlodsdmbhdr)�rtbg�‘r�shqd�r‘kdr)�‘mc�qdenbtrdc�sgd�oqnc,
tbs�khmd�nm�bnmrtldq�dkdbsqnmh
-�Sn�rgnvb‘rd�hsr�mdv�rsq‘sdfx)�sgd�bnlo‘mx�nodmdc�‘�3/)
,rpt‘qd,enns�rsnqd�
‘kkdc�zSgd�V‘qcr�Kn‘chmf�Cnbj-–64�Sghr�zahf�anw–�enql‘s�g‘c�‘lokd�qnnl�sn�chrok‘x�V‘qcr&�dwsdmrhud�rdkdbshnm�
ne�1)
�oqnctbsr-�Adb‘trd�ne�hsr�mnudk�rsnqd�cdrhfm)�V‘qcr�hmbqd‘rdc�hsr�r‘kdr�sdm,enkc�sn�#135�lhkkhnm�ax�0872-
Hm�0873)�V‘qcr�bg‘mfdc�hsr�m‘ld�sn�Bhqbths�Bhsx�Rsnqdr�‘mc�khrsdc�nm�sgd�Mdv�Xnqj�Rsnbj�Dwbg‘mfd-�Sg‘s�r‘ld�
xd‘q)�Qhbg‘qc�Rg‘qo�rt
ddcdc�?k‘m�Vtqsydk�‘r�BDN-�Tmcdq�Rg‘qo)�sgd�bnlo‘mx�bnmrnkhc‘sdc�hsr�nodq‘shnmr�hm�
udqx�k‘qfd�rsnqdr�knb‘sdc�hm�bktrsdqr�sgqntfgnts�sgd�Rntsgd‘rs-�Sgdrd�zBhqbths�Bhsx�Rtodqrsnqdr–�dmbnlo‘
dc�to�sn�
‘m�‘bqd�ne�eknnq�ro‘bd-�Bhqbths�Bhsx&r�‘ooqn‘bg�ne�nodmhmf�rdudq‘k�k‘qfd�rsnqdr�‘s�nmbd�hm�sgd�r‘ld�qdfhnm)�‘
nl,
o‘mhdc�ax�gd‘ux�‘cudqshrhmf)�qdoqdrdmsdc�‘�ldsgnchb‘k�cdsdqlhm‘shnm�sn�vhm�sgd�khnm&r�rg‘qd�ne�r‘kdr-�Ax�0876)�sgd�
nlo‘mx�v‘r�qd‘ohmf�#0�ahkkhnm�hm�‘mmt‘k�qdudmtdr�‘mc�cnlhm‘sdc�sgd�T-R- l‘qjds-
Hm�0881)�Bhqbths�Bhsx�dwo‘mcdc�hsr�needqhmfr�sn�hmbktcd�odqrnm‘k�bnlotsdqr�‘mc�qdbnqcdc�ltrhb-�Hm 0882) Bhqbths�
Bhsx�rsqdsbgdc�hsr�antmc‘qhdr�dudm�etqsgdq�‘mc�nodmdc�sgd�ehqrs�B‘qL‘w�trdc,b‘q�kns-�?ants�sg‘s�shld)�Bhqbths�Bhsx�
‘krn�entmc�hsrdke�hm�‘m�hmsdmrd�oqhbd�v‘q�vhsg�Adrs�Atx�sg‘s�ohssdc�sgd�bnlo‘mhdr&�r‘kdr�enqbdr�‘f‘hmrs�nmd�‘mnsgdq-�
Bhqbths�Bhsx�v‘r�jmnvm�enq�hsr�g‘qc,rdkk�s‘bsh
)�vhsg�r‘kdrodnokd�vnqjhmf�enq�bnllh
hnm-�Hm�bnmsq‘rs)�Adrs�Atx
dloknxddr�dminxdc�‘�lnqd�qdk‘wdc)�rdke,rdquhbdfinqhdmsdc�r‘kdr�dmuhqnmldms)�hm�vghbg�sgdx�vdqd�o‘hc�‘�ek‘s�gntqkx�
q‘sd-�Adrs�Atx&r�zvd&qd�gdqd�he�xnt�mddc�tr–�‘ooqn‘bg�v‘r�rn�onotk‘q�sg‘s�Bhqbths�Bhsx�v‘r�enqbdc�sn�‘c‘os-�Xds)�
cdrohsd�chrlh
hmf�2)8
�vnqjdqr�‘mc�hlokdldmshmf�‘m�gntqkx�o‘x�rsqtbstqd)�Bhqbths�Bhsx&r�5
�rsnqdr�onrsdc�‘m�
‘mmt‘k�kn
�ne�#78-2�lhkkhnm�ax�sgd�dmc�ne�1
2-�Sgd�bnlo‘mx�bnmshmtdc�sn�qdrsqtbstqd�hm�1
3)�bknrhmf�cnydmr�ne�
snqdr�‘s�kd
,cdrhq‘akd�rhsdr�‘mc�nodmhmf�rnld�6/�mdv�rsnqdr�hm�lnqd�hcd‘k�knb‘shnmr-
Bhqbths�Bhsx&r�qd‘bshnm�sn�sgd�ek‘s,
qddm�oqhbd�v‘q�hm�sgd�d‘qkx�1
�khjdkx�gdkodc�sn�rd‘k�hsr�e‘sd-�?�ataakd�hm�
sgd�T-R-�gntrhmf�l‘qjds�g‘c�kdc�sn�‘�cq‘l‘shb�hmbqd‘rd�hm�cdl‘mc�enq�bnmrtldq�dkdbsqnmh
)�vghbg�hm�stqm�bqd‘sdc�
‘�eknnc�ne�hmudrsldms�hm�mdv�e‘bsnqhdr)�qdrtkshmf�hm�dwbd
�rtookx�‘mc�hmudmsnqx�enq�qds‘hkdqr-�Sgdm)�hm�sgd�entqsg�
pt‘qsdq�ne�1
5)� sgd�gntrhmf�l‘qjds�vd‘jdmdc)� kd‘chmf�sn�‘�cdbkhmd� hm�bnmrtldq�rodmchmf-�Sn�lnud� hmudmsnqx)�
ch
ntms�qds‘hkdqr�rtbg�‘r�V‘kl‘qs�adf‘m�rk‘rghmf�oqhbdr�ne�ek‘s,o‘mdk�SUr)�‘mc�Bhqbths�Bhsx�enkknvdc�rths-�Ax�sgd�
dmc�ne�1
5)�ek‘s,o‘mdk�SU�oqhbdr�g‘c�cdbkhmdc�adsvddm�3/�‘mc�4/�odqbdms-�Oqhbdr�edkk�rn�pthbjkx�ctqhmf�sgd�gnkhc‘x�
d‘rnm�sg‘s�Bhqbths�Bhsx&r�vddjkx�‘cudqshrhmf�bhqbtk‘qr�vdqd�nesdm�ntsc‘sdc�ax�sgd�shld�sgdx�qd‘bgdc�btrsnldqr-65
Bhqbths�Bhsx�v‘r�drodbh‘kkx�utkmdq‘akd�sn�dqnchmf�l‘qfhmr�b‘trdc�ax�sgd�oqhbd�v‘q�rhmbd�md‘qkx�33�odqbdms�ne�hsr�
qdudmtdr�b‘ld�eqnl�SU�r‘kdr-�Ax�Mnudladq�1
5)�Bhqbths�Bhsx�qd‘khydc�‘�mds�kn
�ne�#05�lhkkhnm)�cnvm�eqnl�‘�pt‘q,
sdqkx�oqnehs�ne�#0/-0�lhkkhnm�hm�1
4-�Hsr�rg‘qd�oqhbd�oktlldsdc�7/�odqbdms�ax�sgd�dmc�ne�sg‘s�xd‘q-66�Hm�‘m�‘ssdlos�
sn�lnkkhex�hmudrsnqr)�Bhqbths�Bhsx�BDN�Rbgnnmnudq�ehqdc�rnld�2)3
�ne�sgd�ehql&r�lnrs�dwodqhdmbdc�dloknxddr�‘mc�
qdok‘bdc�sgdl�vhsg�kd
,bnrskx�odqrnmmdk-67�Bhqbths�Bhsx�g‘c�gnodc�sn�r‘ud�#00/�lhkkhnm�hm�eh
‘k�1
6�‘mc�#03/�
lhkkhnm�hm�1
7)�ats�hm�qd‘khsx)�sgd�l‘
�k‘xnee�kdc�sn�onnq�r‘kdrl‘mrgho�‘mc�knvdq�r‘kdr-68�Rnld�‘m‘kxrsr�‘kkdfdc
sg‘s�sgd�k‘hc,nee�Bhqbths�Bhsx�dloknxddr�snnj�sgdhq�dwodqhdmbd�‘mc�sgdhq�btrsnldqr�sn�Adrs�Atx)�ankrsdqhmf�sgd�bnl,
o‘mx&r�l‘hm�bnlodshsnq-
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
7
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Nm�I‘mt‘qx�4)�1
7)�Gdqa�Fqddmadqf�ne�Sgd�V‘kk�Rsqdds�Intqm‘k�m‘ldc�Oghkho�Rbgnnmnudq�‘r�sgd�vnqrs�BDN�
ne�sgd�xd‘q-7/�?�edv�lnmsgr�k‘sdq)�Rbgnnmnudq�qdrhfmdc�‘mc�v‘r�qdok‘bdc�ax�I‘ldr�L‘qbtl)�vgn�rdqudc�‘r�Bhqbths�
Bhsx&r�BDN�‘mc�‘bshmf�oqdrhcdms�tmshk�sgd�ehql&r�cdlhrd-�Bhqbths�Bhsx�ehkdc�enq�Rdbshnm�00�a‘mjqtosbx�hm�Mnudladq�
1
7)�bknrhmf�044�rsnqdr�hm�‘m�‘ssdlos�sn�oqdrdqud�‘�etstqd�enq�sgd�qdrs-70�?esdq�e‘hkhmf�sn�ehmc�‘�atxdq)�Bhqbths�Bhsx�
adf‘m�khpthc‘shnm�ne�sgd�qdl‘hmcdq�ne�hsr�‘
dsr�hm�I‘mt‘qx�1
8-�Sgd�ehql�bhsdc�qdctbdc�bnmrtldq�rodmchmf�‘mc�
‘m�nudq‘kk�dbnmnlhb�cnvmstqm�‘r�sgd�qd‘rnmr�enq�hsr�cnvme‘kk-�Hm�L‘x�1
8)�Rxrsdl‘w�otqbg‘rdc�sgd�Bhqbths�Bhsx�
aq‘mc�‘mc�sq‘cdl‘qj�enq�#5-4�lhkkhnm�enq�trd�hm�nmkhmd�dkdbsqnmh
�qds‘hk-71�Hm�1/0/)�enkknvhmf�Bhqbths�Bhsx&r�bkn,
tqd)�Adrs�Atx�qdonqsdc�‘�4-4�odqbdms�hmbqd‘rd�hm�l‘qjds�rg‘qd)�sn�‘ooqnwhl‘sdkx�11-8�odqbdms�ne�sgd�#06/�ahkkhnm�
cnldrshb�l‘qjds-72)�73)�74�Gnvdudq)�nsgdq�qds‘hkdqr�q‘ohckx�dmsdqdc�sgd�eq‘x�‘mc�drs‘akhrgdc�rhfmhehb‘ms�ennsgnkcr�hm�
sgd�hmbqd‘rhmfkx�bnlodshshud�bnmrtldq,dkdbsqnmh
�hmctrsqx-
V?KL?QS
?r�sgd�vnqkc&r�k‘qfdrs�qds‘hkdq)�V‘kl‘qs�rdqudr�md‘qkx�15/�lhkkhnm�btrsnldqr�vnqkcvhcd�hm�nudq�00)4
�rsnqdr�rto,
onqsdc�ax�047�chrsqhatshnm�bdmsdqr)�‘mc�hs�dloknxr�svn�lhkkhnm�‘
nbh‘sdr�vnqkcvhcd�vhsg�0-4�lhkkhnm�hm�sgd�Tmhsdc�
Rs‘sdr�‘knmd-75�V‘kl‘qs�v‘r�entmcdc�ax�R‘l�V‘ksnm)�vgn�nodmdc�ghr�ehqrs�rsnqd�hm�0851�hm�Qnfdqr)�?qj‘mr‘r-�Sgd�
xntmf�bnlo‘mx�dwo‘mcdc�q‘ohckx)�qd‘bghmf�13�rsnqdr�‘mc�#01-6�lhkkhnm�hm�r‘kdr�vhsghm�hsr�ehqrs�ehud�xd‘qr�ne�nodq‘,
shnmr-�Hm�086/)�V‘kl‘qs�vdms�otakhb�vhsg�‘�l‘qjds�b‘o�ne�#3-84�lhkkhnm�’hm�sgd�e‘kk�ne�1/08)�V‘kl‘qs&r�l‘qjds�b‘o�
snnc�‘s�#224�ahkkhnm(-
Rhmbd�sgdm)�V‘kl‘qs�g‘r�kdudq‘fdc�hsr�rtodqhnq�b‘o‘ahkhshdr�hm�knfhrsh
�‘mc�rtookx�bg‘hm�l‘m‘fdldms�sn�oqnuhcd�
nmrtldqr�vhsg�‘�vhcd�aqd‘csg�ne�ldqbg‘mchrd�‘s� knv�oqhbdr- �V‘kl‘qs�rsnqdr�b‘qqx�oqnctbsr�hm�‘qd‘r�rtbg�‘r�
e‘lhkx�‘oo‘qdk)�gd‘ksg�‘mc�ad‘tsx�‘hcr)�snxr)�gnld�etqmhrghmfr)�gntrdv‘qdr)�g‘qcv‘qd)�k‘vm�‘mc�f‘qcdm�rtookhdr)�
‘mc�‘tsnlnshud�oqnctbsr)�hm�‘cchshnm�sn�bnmrtldq�dkdbsqnmh
-�Hm�1
)�sgd�bnlo‘mx�k‘tmbgdc�V‘kl‘qs-bnl�sn�
nlodsd�vhsg�nmkhmd�qds‘hkdqr�rtbg�‘r�?l‘ynm-bnl)�‘mc�ax�1/06)�V‘kl‘qs�nmkhmd�otqbg‘rdr�fqdv�5/�odqbdms-
76
77�Hm�
1/05)�V‘kl‘qs&r�otqbg‘rd�ne�Ids-bnl�enq�nudq�#2�ahkkhnm)78�‘mc�sgd�nudq‘kk�rt
d
�ne�bnlahmhmf�nmkhmd�r‘kdr�vhsg�‘�
ogxrhb‘k�oqdrdmbd�kdc�sn�hmbqd‘rdc�r‘kdr�hm�ansg�nmkhmd�‘mc�ogxrhb‘k�rsnqd�bg‘mmdkr-8
V‘kl‘qs�lnudc�‘ffqd
hudkx�hmsn�sgd�bnmrtldq,dkdbsqnmh
�l‘qjds�hm�sgd�v‘jd�ne�Bhqbths�Bhsx&r�bnkk‘ord-�Hm�L‘x�
1/0/)�sgd�bnlo‘mx�‘mmntmbdc�sg‘s�hs�v‘r�rhfmhehb‘mskx�dwo‘mchmf�hsr�needqhmfr�ne�Akt,q‘x�ok‘xdqr)�GCSUr)�gnld�
sgd‘sdq�rxrsdlr)�CUCr�‘mc�Akt,q‘x�lnuhdr)�‘mc�vhqdkd
�oqnctbsr�enq�gnld�mdsvnqjr-�?s�sgd�r‘ld�shld)�V‘kl‘qs�
qnkkdc� nts� ‘� cdchb‘sdc� ‘qd‘� enq� o‘x,‘r,xnt,fn� lnahkd� aqn‘ca‘mc� oqnctbsr� eqnl� vdkk,qdrodbsdc� udmcnqr� rtbg� ‘r�
Udqhynm)�Uhqfhm)�‘mc�?S%S)�‘r�vdkk�‘r�‘�mdv�o‘x,‘r,xnt,fn�oqnfq‘l�vhsg�Roqhms�enq�bdkktk‘q�trdqr-�Sgd�bnlo‘mx�‘krn�
hmbqd‘rdc�hsr�rl‘qsognmd�needqhmfr�ax�bknrd�sn�5/�odqbdms-�V‘kl‘qs&r�rdmhnq�uhbd�oqdrhcdms�enq�gnld�dmsdqs‘hmldms�
dwok‘hmdc� sgd� bnlo‘mx&r� rsq‘sdfx� ‘r9� zVd---Zoqnuhcd[� ‘�vdkk,cdehmdc� rgnoohmf� dwodqhdmbd� hm� dmsdqs‘hmldms� sg‘s�
dm‘akdr�btrsnldqr�sn�ehmc�vg‘s�sgdx�mddc�pthbjkx)�kd‘qm�‘ants�mdv�sdbgmnknfx)�bnlo‘qd�oqhbdr�‘lnmf�sno�aq‘mcr)�
‘mc�dudqx�c‘x�ehmc�‘l‘yhmf�u‘ktd-�Ntq�bnllhsldms�sn�sgd�adrs�oqhbd�‘mc�rtqoqhrhmf�u‘ktd�hr�‘kv‘xr�‘�sno�oqhnqhsx-–80�
Vghkd�V‘kl‘qs�oqnudc�lnqd�qdbd
hnm,oqnne�sg‘m�l‘mx�ne�hsr�bnlodshsnqr)�sgd�‘mshbho‘sdc�hmbqd‘rd�hm�bnmrtldq,
dkdbsqnmh
�r‘kdr�mdudq�l‘sdqh‘khydc-�Ax�1/01)�sgd�bnlo‘mx�‘mmntmbdc�ok‘mr�sn�qdctbd�sgd�‘lntms�ne�eknnq�ro‘bd�
cdchb‘sdc� sn� dkdbsqnmh
� hm� hsr� rsnqdr)� ‘� rsqhjhmf� qdudqr‘k�ne� hsr�oqduhntr� dwo‘mrhnm�deenqsr-�Onnq� dkdbsqnmhb� r‘kdr�
vdqd�bnmrhcdqdc�‘�oqhl‘qx�e‘bsnq�hm�rdudq‘k�rt
d
hud�pt‘qsdqkx�cdbkhmdr�hm�T-R-�r‘kdr�‘s�rsnqdr�nodm�enq�nmd�xd‘q�
nq�knmfdq-�?
nqchmf�sn�nmd�bnmrtks‘ms)�zXnt�cnm&s�mddc�‘r�ltbg�ro‘bd�hm�sg‘s�‘qd‘�vhsg�oqnctbsr�rgqhmjhmf�‘mc�
otqbg‘rdr�fnhmf�nmkhmd)�‘mc�dkdbsqnmh
�g‘r�m‘qqnv�oqnehs�l‘qfhmr-�Eknnq�ro‘bd�hr�‘�
‘qbd�bnllnchsx-–81
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
8Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Rhmbd�1/05)�V‘kl‘qs�g‘r�sq‘hkdc�?l‘ynm�hm�sgd�r‘kdr�ne�bnmrtldq�dkdbsqnmh
-82�?r�sgd�kd‘chmf�ch
ntms�qds‘hkdq)�
V‘kl‘qs�hr�nmd�ne�sgd�edv�bnlo‘mhdr�sg‘s�rs‘mcr�sn�admdehs�eqnl�sgd�bnllnchshy‘shnm�ne�oqnctbsr�rtbg�‘r�GCSUr)�
Akt,q‘x�ok‘xdqr)� bnlotsdqr)� ‘mc� rl‘qsognmdr-83�?
nqchmfkx)� qdbdms� s‘bsh
�g‘ud� hmbktcdc�addehmf�to� hsr�nmkhmd�
needqhmfr�‘mc�rk‘rghmf�oqhbdr�nm�onnqkx�odqenqlhmf�SUr)�k‘osnor)�s‘akdsr)�‘mc�bdkk�ognmdr-�Rtbg�l‘
hud�ch
ntmsr�
’d-f-)�gnld�sgd‘sdqr�enq�#167(�‘qd�hmsdmcdc�sn�‘ood‘k�sn�V‘kl‘qs&r�oqhbd,rdmrhshud�bnqd�btrsnldqr�‘mc�dmshbd�sgdl�
hmsn�l‘jhmf�dkdbsqnmh
�otqbg‘rdr�sgdx�vntkc�mns�g‘ud�oqduhntrkx�bnmrhcdqdc-84�Enkknvhmf�hsr�1/06�otqbg‘rd�ne�Ids-
nl)�V‘kl‘qs�g‘r�fqnvm�ansg�hsr�hm,rsnqd�‘mc�nmkhmd�r‘kdr-85
?L?YNM-BNL
Entmcdc�hm�0883�ax�Ideeqdx�Adynr�‘r�‘m�nmkhmd�annj�qds‘hkdq)�‘mc)�rhmbd�sgd�bnlo‘mx�vdms�otakhb�hm�0886)�hs�g‘r�
q‘ohckx�chudqrhehdc�hmsn�ltkshokd�oqnctbs�‘qd‘r-86�Hm�0887)�?l‘ynm-bnl�k‘tmbgdc�hsr�nmkhmd�ltrhb�‘mc�uhcdn�rsnqd�
‘mc�adf‘m�sn�rdkk�snxr�‘r�vdkk�‘r�bnmrtldq�dkdbsqnmh
:�hs�‘ccdc�bknsghmf�hm�1
1)�gd‘ksg�‘mc�odqrnm‘k�b‘qd�hsdlr�hm�
1
2)�‘mc�ad‘tsx�oqnctbsr�hm�1
3-87�?l‘ynm�nodmdc�hsr�l‘qjdsok‘bd�sn�sghqc,o‘qsx�udmcnqr�sgqntfg�sgd�k‘tmbg�
ne�hsr�zEtkehkkldms�ax�?l‘ynm–�rdquhbd�hm�1
5-�Sghr�lnud�dm‘akdc�rl‘kk�sn�ldchtl,rhydc�atrhmd
dr�sn�tshkhyd�
?l‘ynm&r�nqcdq�etkehkkldms�‘mc�btrsnldq�rdquhbd�hmeq‘rsqtbstqd�vghkd�etqsgdq�aqn‘cdmhmf�?l‘ynm&r�nvm�nmkhmd�
oqdrdmbd-88�Lnqd�qdbdmskx)�?l‘ynm�g‘r�dwsdmcdc�hsr�u‘rs�‘qq‘x�ne�oqnctbsr�‘mc�rdquhbdr�adxnmc�sq‘chshnm‘k�qds‘hk�
antmc‘qhdr�ax�needqhmf�?l‘ynm�Vda�Rdquhbdr-�Hsr�enq‘x�hmsn�bkntc�bnlotshmf�hmbktcdr�ansg�hmeq‘rsqtbstqd�’d-f-)�
c‘s‘�rsnq‘fd(�‘mc�‘ookhb‘shnmr�rtbg�‘r�c‘s‘a‘rd�rdquhbdr�‘mc�vnqjeknv�rnesv‘qd-0
?s�sgd�r‘ld�shld)�?l‘ynm�g‘r�dmf‘fdc�hm�‘m�‘ffqd
hud�rsqhmf�ne�‘bpthrhshnmr)�otqbg‘rhmf)�nq�hmudrshmf�hm�lnqd�
sg‘m�6/�bnlo‘mhdr�rhmbd�0887-�Rnld�ne�sgdrd�cd‘kr�‘qd�‘hldc�‘s�hmbqd‘rhmf�sgd�aqd‘csg�ne�oqnctbsr�needqdc)�rtbg�
‘r�?l‘ynm&r�‘bpthrhshnm�ne�Y‘oonr)�sgd�mtladq,nmd�nmkhmd�rgnd�qds‘hkdq)�enq�#78/�lhkkhnm�hm�1
8-�Nsgdqr)�rtbg�‘r�
sgd�1/01�otqbg‘rd�ne�Jhu‘�Rxrsdlr)�‘�qnansh
�bnlo‘mx)�‘qd�hmsdmcdc�sn�dmg‘mbd�?l‘ynm&r�atrhmd
�nodq‘shnmr-0/0
Hlonqs‘mskx)�sgd�bnlo‘mx�g‘r�‘lokd�‘lntmsr�ne�b‘rg)�‘r�vdkk�‘r�qd‘cx�‘
d
�sn�‘eenqc‘akd�cdas)�sn�bnmshmtd�hsr�
atxhmf�roqdd�vdkk�hmsn�sgd�etstqd-�
?mnsgdq�oqnmf�ne�?l‘ynm&r�dwo‘mrhnm�rsq‘sdfx�g‘r�addm�sn�dmsdq�sgd�dkdbsqnmhb�cduhbd�l‘qjds�chqdbskx)�sgqntfg�
sgd�l‘mte‘bstqd�‘mc�r‘kd�ne�hsr�?l‘ynm�Jhmckd�d,qd‘cdq�rdqhdr)�s‘akdsr)�‘mc�sgd�?l‘ynm�Dbgn�‘mc�Cns�ed‘stqhmf�
hsr�?kdw‘�chfhs‘k�‘
hrs‘ms-�?r�noonrdc�sn�ldqdkx�rdkkhmf�dkdbsqnmhb�annjr�enq�btrsnldqr�sn�qd‘c�nm�bnlodshsnqr&�
sdbgmnknfx�’d-f-)�sgd�hO‘c()�?l‘ynm�mnv�b‘m�hmektdmbd�sgd�cdudknoldms�ne�ansg�sgd�bnmsdms�‘mc�sgd�tmcdqkxhmf�
sdbgmnknfx-�Sgd�hcd‘�hr�sn�bqd‘sd�‘m�hmsdqknbjhmf�dbnrxrsdl�sg‘s�dmg‘mbdr�r‘kdr�hm�ansg�b‘sdfnqhdr)�dm‘akhmf�hs�sn�
nlodsd�lnqd�chqdbskx�vhsg�?ookd-�Vghkd�sgd�sgdnqx�rddlr�rntmc)�?l‘ynm&r�s‘akds�‘mc�rl‘qsognmd�cduhbdr�g‘ud�
sqtffkdc�sn�f‘hm�‘�ennsgnkc�hm�sgd�l‘qjds�adxnmc�s‘akdsr�‘mc�?l‘ynm&r�hmhsh‘k�kd‘c�hm�gnld�rod‘jdqr�ed‘stqhmf�‘�
chfhs‘k�‘
hrs‘ms�hr�tmcdq�‘ss‘bj�ax�ansg�Fnnfkd�‘mc�?ookd-�
?l‘ynm&r�bnlodshshud�‘cu‘ms‘fd�bnldr�eqnl�hsr�aqd‘csg�ne�rdkdbshnm)�sgd�bnmudmhdmbd�ne�nmkhmd�rgnoohmf�bnt,
okdc�vhsg�r‘ld,c‘x�cdkhudqx�rdquhbdr)�‘mc�hsr�‘ahkhsx�sn�tmcdqbts�bnlodshsnqr�nm�oqhbd-�Tmshk�hsr�1/06�otqbg‘rd�ne�
Vgnkd�Enncr)0/1�?l‘ynm&r�k‘bj�ne�ogxrhb‘k�rsnqdr�‘unhcdc�sgd�bnrsr�ne�qds‘hk�qd‘k�drs‘sd)�hmudmsnqx�chrok‘xr)�‘mc�‘m�
nmrhsd�r‘kdr�enqbd-�Sgd�otqbg‘rd�enkknvdc�?l‘ynm�bnkkdbshmf�r‘kdr�s‘w�nm�otqbg‘rdr�hm�‘kk�4/�rs‘sdr�hm�1/06-0/2�Rshkk)�
sq‘chshnm‘k�qds‘hkdqr)�rtbg�‘r�Adrs�Atx)�‘qd�eqtrsq‘sdc�sn�ehmc�sg‘s�sgdhq�rsnqdr�‘qd�hmbqd‘rhmfkx�rdquhmf�‘r�rgnvqnnlr�
enq�?l‘ynm�atxdqr-�Odnokd�bnld�hm�sn�Adrs�Atx�sn�sqx�nts�sgd�ldqbg‘mchrd�‘mc�rod‘j�vhsg�sgd�sq‘hmdc�r‘kdr�‘
n,
h‘sdr)�ats�sgdm�tshkhyd�sgdhq�rl‘qsognmdr�sn�bnlo‘qd�oqhbdr�‘mc�otqbg‘rd�chqdbskx�eqnl�?l‘ynm�he�hsr�oqhbdr�‘qd�
knvdq-0/3�?l‘ynm&r�rsq‘sdfx�‘ood‘qr�sn�ad�vnqjhmf)�‘r�hs�‘
ntmsr�enq�32�odqbdms�ne�‘kk�nmkhmd�r‘kdr)0/4�‘mc�hs�nmkx�
k‘fr�Adrs�Atx�hm�nudq‘kk�bnmrtldq�dkdbsqnmhb�r‘kdr-0/5
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
0�
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
?OOKD
Ax�1/08)�?ookd�g‘r�qnkkdc�nts�nudq�4
�ne�hsr�nvm�qds‘hk�rsnqdr�vnqkcvhcd)0/6�bqd‘shmf�chqdbs�bnlodshshnm�enq�Adrs�
Atx�‘mc�nsgdq�ehqlr�sg‘s�b‘qqx�?ookd�oqnctbsr-�?ookd�rsnqdr�g‘ud�fqd‘sdq�qdudmtd�odq�rpt‘qd�enns�sg‘m�‘mx�nsgdq�
qds‘hk� knb‘shnm-0/7� Hm�‘cchshnm� sn�oqnuhchmf�bnmrtldqr�vhsg�g‘mcr,nm�‘
d
� sn� sgd� k‘sdrs� hOncr)� hO‘cr)� hOgnmdr)�
‘mc�L‘
)�?ookd&r�qds‘hk�rsnqdr�needq�nmd,sn,nmd�sdbg�rtoonqs)�‘r�vdkk�‘r�‘�u‘qhdsx�ne�sq‘hmhmf�vnqjrgnor�‘mc�xntsg�
oqnfq‘lr-�?ookd�ok‘bdr�hsr�rsnqdr�hm�ghfg,oqnehkd)�ghfg,sq‘eehb�knb‘shnmr�hm�pt‘khsx�rgnoohmf�l‘kkr�‘mc�chrsqhbsr)�vhsg�
sgd�fn‘k�ne�‘ssq‘bshmf�mdv�btrsnldqr�‘mc�oqnuhchmf�‘�btrsnlhydc�rgnoohmf�dwodqhdmbd-�L‘m‘fdldms�adkhdudr�sg‘s�
chqdbs�btrsnldq�bnms‘bs�hr�trdetk�hm�cdlnmrsq‘shmf�sgd�rtodqhnq�pt‘khsx�ne�?ookd&r�oqnctbsr-�?kk�ne�sghr�qdpthqdr�‘�
hfmhehb‘ms�hmudrsldms�hm�oqnodqsx�’kd‘rdgnkcr()�dptholdms)�hmenql‘shnm�rxrsdlr)�hmudmsnqx)�‘mc�odqrnmmdk-�Rshkk)�
?ookd�g‘r�o‘qsmdqdc�vhsg�Adrs�Atx�sn�kdudq‘fd�hsr�qds‘hk�knb‘shnmr)�‘mc�hm�1/08�dwo‘mcdc�hsr�o‘qsmdqrgho�sn�‘kknv�
Adrs�Atx�sn�qdo‘hq�hOgnmdr�‘mc�nsgdq�oqnctbsr-0/8
?ookd�bnmshmtdr�sn�oqnuhcd�rnkhc�qdstqmr)�‘mc)�hm�?tftrs�1/07)�hs�adb‘ld�sgd�ehqrs�bnlo‘mx�sn�g‘ud�‘�#0�sqhkkhnm�
u‘kt‘shnm)�ats�sgd�ehql&r�u‘ktd�g‘r�rtardptdmskx�e‘kkdm�‘mc�hs�g‘r�addm�rtqo‘
dc�ax�nsgdqr-00/�Hmudrsnq�bnmbdqmr�
qdk‘sd�sn�?ookd&r�qdkh‘mbd�nm�hOgnmd�r‘kdr-000�Gnvdudq)�hm�1/08)�sgd�l‘inqhsx�ne�?ookd&r�qdudmtd�b‘ld�eqnl�oqnc,
tbsr�‘mc�rdquhbdr�nsgdq�sg‘m�sgd�hOgnmd-001 Rshkk)�sgd�bnlo‘mx�v‘r�lnqd�chudqrhehdc�tmcdq�Rsdud�Inar�vhsg�qdudmtd�
nlhmf�eqnl�ltkshokd�oqnctbsr�‘mc�hmsdqm‘shnm‘k�l‘qjdsr-�Ld‘mvghkd)�?ookd�g‘r�adbnld�lnqd�cdodmcdms�nm�sgd�
Mnqsg�?ldqhb‘m�l‘qjds�‘r�hs�e‘bdr�hmbqd‘rdc�bnlodshshnm�eqnl�Bghm‘-�Sgd�hlo‘bs�hr�adrs�rddm�hm�?ookd&r�r‘kdr�hm�
Bghm‘�bnmshmtd�sn�e‘kk�ctd�sn�cnldrshb�bnlodshsnqr)�rtbg�‘r�Gt‘vdh-002�Odqg‘or�?ookd&r�fqd‘sdrs�bg‘kkdmfd�hmunkudr�
hmudrsnqr�‘mc�bnmrtldqr�g‘uhmf�ahf�dwodbs‘shnmr-
S?QFDS
S‘qfds�hr�sgd�rdbnmc,k‘qfdrs�ch
ntms�qds‘hkdq�hm�sgd�Tmhsdc�Rs‘sdr)�adghmc�V‘kl‘qs-�S‘qfds�v‘r�entmcdc�hm�0851)�
vgdm�C‘xsnm&r)� ‘�Lhmmd‘onkhr�cdo‘qsldms� rsnqd)� dwo‘mcdc� hmsn� ‘� rgnoohmf�l‘kk� hm�Qnrduhkkd)�Lhmmdrns‘-�Sgd�
snqd�v‘r�m‘ldc S‘qfds)�sn�chrshmfthrg�sgd�ch
ntms�qds‘hkdq�eqnl�C‘xsnm&r�ghfgdq,dmc�rsnqdr-�Eqnl�086/�sn�088/)�
S‘qfds� fqdv� eqnl 13� sn� 31/� rsnqdr� sgqntfg� nqf‘mhb� ‘mc� hmnqf‘mhb� fqnvsg)� adbnlhmf� sgd� kd‘chmf� aq‘mc� hm� sgd�
C‘xsnm Gtcrnm�Bnqonq‘shnm�onqsenkhn�hm�0866-�Hm�0887)�C‘xsnm�Gtcrnm�hmbqd‘rdc�sgd�bnlo‘mx&r�Hmsdqmds�oqdr,
dmbd�sgqntfg�sgd�otqbg‘rd�ne�Qhudqsnvm�Sq‘chmf-�Hm�1
0)�S‘qfds�dmcdc�‘�o‘qsmdqrgho�vhsg�?l‘ynm�rs‘qsdc�hm�1
5�
sg‘s�kdudq‘fdc�?l‘ynm&r�d,bnlldqbd�sdbgmnknfx�sn�bnlodsd�lnqd�deedbshudkx�nmkhmd-003�Hm�1/06)�S‘qfds&r�nmkhmd�
‘kdr�vdqd�nmkx�3-2�odqbdms�ne�r‘kdr)�ats�hs�v‘r�sgd�nmkx�rntqbd�ne�fqnvsg�hm�r‘kdr-004
Enkknvhmf�Bhqbths�Bhsx&r�bnkk‘ord)�S‘qfds�hmbqd‘rdc�hsr�bnmrtldq,dkdbsqnmh
�needqhmfr)�hmbktchmf�SUr�‘mc�uhcdn�
f‘ldr-�Bg‘mfdr�hmbktcdc�sgd�hmrs‘kk‘shnm�ne�mdv�SU,ldqbg‘mchrhmf�v‘kkr�sn�l‘jd�rhcd,ax,rhcd�bnlo‘qhrnmr�d‘rhdq�
enq�btrsnldqr)�‘r�vdkk�‘r�dwo‘mchmf�rsnqd�hmudmsnqx�sn�hmbktcd�k‘qfdq�‘mc�lnqd�sdbgmnknfhb‘kkx�‘cu‘mbdc�SU�rdsr-�?s�
sgd�r‘ld�shld)�S‘qfds�dmk‘qfdc�hsr�uhcdn�f‘ld�rdbshnm�ax�‘�sghqc�‘mc�‘ccdc�cdln�rs‘shnmr�enq�ok‘xdqr�sn�sqx�nts�mdv�
qdkd‘rdr-�S‘qfds�v‘r�‘krn�sgd�ehqrs�ogxrhb‘k�qds‘hkdq�sn�b‘qqx�?l‘ynm&r�Jhmckd�d,annj�qd‘cdq-�Sgd�bnlo‘mx�‘ccdc�
‘�SU�cdkhudqx�‘mc�hmrs‘kk‘shnm�rdquhbd�hm�I‘mt‘qx�1/0/)005�‘mc�hm�1/00�tmudhkdc�sgqdd�mdv�bnmrtldq,dkdbsqnmh
�
dquhbdr�m‘shnmvhcd� sn� etqsgdq�dmg‘mbd�bnmrtldqr&� rgnoohmf�dwodqhdmbd-�Gnvdudq)�S‘qfds�g‘r�oqhnqhshydc�nsgdq�
‘sdfnqhdr�nudq�bnmrtldq�dkdbsqnmh
)�‘mc)�vghkd�S‘qfds�g‘r�lnqd�sdbg�r‘uux�btrsnldqr)�S‘qfds�btrsnldqr�‘qd�itrs�
‘r�khjdkx�sn�atx�eqnl�nsgdq�qds‘hkdqr-006
?m‘kxrsr�khjd�S‘qfds&r�enbtr�nm ognmdr�adb‘trd�ne�sgd�khlhsdc�ennsoqhms�qdpthqdc)007�‘mc�fdmdq‘kkx�adkhdud�sg‘s�
sgdqd� hr� qnnl� enq� S‘qfds&r� ‘ooqn‘bg� hm� sgd� hmsdmrdkx� bnlodshshud� bnmrtldq,dkdbsqnmh
� l‘qjds-� Vghkd� V‘kl‘qs�
cnlhm‘sdr� hm� sdqlr�ne�aq‘mc�qdbnfmhshnm)�aqd‘csg�ne�rdkdbshnm)�‘mc� knv,bnrs�oqhbhmf)�S‘qfds�b‘sdqr� sn�lnqd�ne�‘�
lhcckd,�‘mc�toodq,bk‘
�bkhdmsdkd�sg‘s�hr�khjdkx�sn�‘ooqdbh‘sd�hsr�dmg‘mbdc�rdquhbd�needqhmfr-008�?r�‘�fdmdq‘k�ldqbg‘m,
chrdq)�S‘qfds�‘krn�rddr�ltbg�ghfgdq�enns sq‘eehb�sg‘m�Adrs�Atx)�‘mc�b‘m�b‘ohs‘khyd�nm�rotq,ne,sgd,lnldms�otqbg‘rdr�
‘mc�btrsnldqr&�cdrhqd�enq�‘�nmd,rsno�rgnoohmf�dwodqhdmbd-01
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
00Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
CDKK
Enq�Adrs�Atx)�Cdkk�qdoqdrdmsr�ansg�‘�udmcnq�‘mc�‘�bnlodshsnq)�rgnvb‘rhmf�bnlokhb‘sdc�bnlodshshud�cxm‘lh
�
hm�bnmrtldq�dkdbsqnmh
-�M‘ldc�enq�hsr�entmcdq)�Lhbg‘dk�Cdkk)�Cdkk�ohnmddqdc�rdkkhmf�bnlotsdq�dkdbsqnmh
�nmkhmd�
sgqntfg�‘�chqdbs�r‘kdr�lncdk�sg‘s�‘kknvr�btrsnldqr�sn�btrsnl�nqcdq�bnlotsdqr-010�Sgd�chqdbs�r‘kdr�lncdk�v‘r�jdx�
sn�Cdkk&r�rt
d
)�ats�‘esdq�qdstqmhmf�‘r�BDN�enkknvhmf�s‘jhmf�Cdkk�oqhu‘sd�hm�1/02)�Lhbg‘dk�Cdkk�g‘r rhfm‘kdc�sg‘s�
sgd�ehql�l‘x�mddc�sn�bg‘mfd�hsr�atrhmd
�lncdk-011�Sghr�qdekdbsr�sg‘s)�hm�‘cchshnm�sn�chqdbs�r‘kdr)�Cdkk�’nee�‘mc�nm(�
g‘r�athks�rs‘mc‘qc�udqrhnmr�ne�hsr�oqnctbsr�sn�trd�dwbd
�hmudmsnqx�‘mc�l‘hms‘hm�b‘o‘bhsx�tshkhy‘shnm�sg‘s�hs�needqr�
sn�qds‘hkdqr-�Enq�dw‘lokd)�hm�1
6)�Cdkk�rs‘qsdc�rdkkhmf�hsr�aq‘mcdc�bnlotsdqr�sgqntfg�Adrs�Atx-012�Sgd�dkdbsqnm,
h
�chuhrhnm�ne�Cdkk�hr�mnv�‘�rtarhch‘qx�ne�Cdkk�Sdbgmnknfhdr)�‘�mdvkx�enqldc�bnlo‘mx�‘mc�s‘jdm�otakhb�hm�1/05)�
enbtrhmf�nm�odqrnm‘k�bnlotsdqr�‘mc�k‘osnor�ats�‘krn�atrhmd
�rnesv‘qd�needqhmfr�rtbg�‘r�bnlotsdq�‘mc�mdsvnqj�
dbtqhsx)�‘lnmf�nsgdq�rdquhbd�needqhmfr-�Hm�1/08)�Adrs�Atx�needqr�Cdkk�k‘osnor)�cdrjsnor)�lnmhsnqr�‘mc nsgdq�bnm,
tldq�dkdbsqnmh
-013
Bnmshmthmf�Adrs�Atx r�BnldaTbi:
?esdq�s‘jhmf�nudq�Adrs�Atx)�BDN�Inkx�k‘adkkdc�ghr�stqm‘qntmc�rsq‘sdfx�zQdmdv�Aktd–�sg‘s�enbtrdc�‘�u‘ktd�oqnon,
hshnm�sgqntfg�oqnuhchmf�z‘cuhbd)�rdquhbd�‘mc�bnmudmhdmbd�‘s�bnlodshshud�oqhbdr-–014�Etqsgdq)�Inkx�dlog‘rhydc�ehud�
ohkk‘qr� chqdbsdc� snv‘qc�Adrs�Atx&r� ehud�l‘hm� rs‘jdgnkcdq� fqntor9� btrsnldqr)� dloknxddr)� rtookx� bg‘hm� o‘qsmdqr)�
hmudrsnqr)�‘mc�sgd�aqn‘cdq�bnlltmhsx-�Gd�‘krn�ohbjdc�ghr�rt
d
nq)�Bnqhd�A‘qqx�vgn�rodms�svn�cdb‘cdr�vnqjhmf�
‘s�Adrs�Atx)�‘mc�Inkx�vhkk�qdl‘hm�bg‘hql‘m)015�rtffdrshmf�mn�ahf�rghesr�hm�rsq‘sdfx-016�Gnvdudq)�vhkk�bnmshmthmf�vhsg�
o‘rs�deenqsr�ad�rteehbhdms�‘r�sgd�bnmrtldq�dkdbsqnmh
�l‘qjdsok‘bd�bnmshmtdr�sn�bg‘mfd=�Tmcdqrs‘mchmf�vg‘s�l‘x�
g‘oodm�qdpthqdr�bnmrhcdqhmf�Adrs�Atx&r�qdk‘shnmrgho�vhsg�hsr�rs‘jdgnkcdqr)�adfhmmhmf�vhsg�hsr�btrsnldqr-
BTRSNLDQ�DWODQHDMBD
Adrs� Atx&r� rsq‘sdfx� g‘c� knmf� addm� bg‘q‘bsdqhydc� ax� ‘� bnllhsldms� sn� btrsnldq,bdmsqhbhsx� ‘ss‘hmdc� sgqntfg�
hm,cdosg�c‘s‘�‘m‘kxrhr�‘mc�rxrsdl‘shb�btrsnldq�rdfldms‘shnm-�Sgd�sdql�btrsnldq,bdmsqhbhsx�hmchb‘sdr�‘�atrhmd
�
nqhdms‘shnm�sg‘s�b‘sdqr�sn�rodbhehb�btrsnldq�mddcr�‘mc�adg‘uhnqr-�Bnlo‘qdc�sn�sq‘chshnm‘k�oqnctbs,bdmsdqdc�l‘qjds,
hmf)�btrsnldq,bdmsqhbhsx�knnjr�‘s�‘�atrhmd
�eqnl�sgd�zntsrhcd�hm)–�‘rjhmf�vg‘s�oqnakdlr�hsr�btrsnldqr�‘qd�e‘bhmf)�
‘mc�sgdm�oqnuhchmf�rnktshnmr-017�Sgd�ehql�sgdm�btrsnlhydr�r‘kdr�rsq‘sdfhdr�sn�‘ood‘k�sn�sgd�lnqd�ktbq‘shud�btrsnldq�
dfldmsr�’z‘mfdkr–(�‘mc�sn�ch
ntq‘fd�sgd�zcduhkr–�vgn�‘bst‘kkx�bnrs�sgd�rsnqd�lnmdx�’h-d-)�atxhmf�qdstqmdc�ldq,
g‘mchrd)�kn‘chmf�to�nm�kn
�kd‘cdqr)�‘mc�rn�nm(-018
Sgqntfg�l‘qjds�qdrd‘qbg)�Adrs�Atx�hcdmshehdc�entq�nudq‘qbghmf�rdfldmsr�sg‘s�‘
ntmsdc�enq�8/�odqbdms�ne�hsr�
trsnldq�a‘rd9�Tqa‘m�Sqdmcrdssdqr)�To
‘kd�Rtatqa‘m)�Dlosx�Mdrsdqr)�‘mc�Lhcckd�?ldqhb‘-�D‘bg�v‘r�‘
nbh‘sdc�
vhsg ‘�l‘kd�‘mc�‘�edl‘kd�odqrnm‘�sg‘s�dmbnlo‘
dc�‘kk�ne�sgd ‘
nbh‘sdc�btrsnldq�bg‘q‘bsdqhrsh
-02/�Enq�dw‘lokd)�
zIhkk–�v‘r�‘m�zTo
‘kd�Rtatqa‘m–�lnl�vgn�‘ooqdbh‘sdr�odqrnm‘k�rgnoohmf�‘
hrs‘msr�vgn�b‘m�gdko�gdq�ehmc�sgd�
qhfgs�oqnctbsr�enq�gdq�e‘lhkx�pthbjkx-�Rgd�trt‘kkx�otqbg‘rdc�hsdlr�vhsg�‘
d
nqhdr�‘mc�qdpthqdc�gdko�vhsg�hmrs‘kk‘,
shnm-020�Rsnqdr�vdqd rodbhehb‘kkx�bnmehftqdc�sn�rdqud�sgd�mddcr�ne�sgd�oqdcnlhm‘ms�btrsnldq�rdfldms’r(�hm�‘�fhudm�
qdfhnm-�Cdrohsd�qdmnu‘shnm�dwodmrdr�sg‘s�‘ooqn‘bg�#0�lhkkhnm�odq�rsnqd)� enqldq�BDN�‘mc�Uhbd�Bg‘hql‘m�Aq‘c�
?mcdqrnm�bk‘hldc�sg‘s�rsnqdr�sg‘s�vdqd�bnmehftqdc�snv‘qc�knb‘k�cdlnfq‘ogh
�cntakdc�sgdhq�fqnvsg�q‘sd�bnlo‘qdc�
vhsg nsgdq�bnlo‘mx�rsnqdr-
Sgd�oqnakdl�v‘r�sg‘s�‘kk�ne�sgdrd�c‘s‘�qdf‘qchmf�hm,rsnqd�btrsnldqr�chc�mns�mdbd
‘qhkx�sq‘mredq�sn�sgd�nmkhmd�
dsshmf)�vghbg�v‘r�‘m�hmbqd‘rhmfkx�hlonqs‘ms�o‘qs�ne�Adrs�Atx&r�qdudmtd�rsqd‘l-�Sn�hmbqd‘rd�bnlodshshudmd
)�hm�
1/06)�Adrs�Atx�‘krn�qdctbdc�sgd�bnrs�ne�hsr�r‘ld,c‘x�rghoohmf�eqnl�#03-88�sn�nmkx�#4-88�sn�adssdq�bnlodsd�vhsg�
?l‘ynm-021�?cchshnm‘kkx)�vhsg�rnld�dwbktrhnmr)�Adrs�Atx�drs‘akhrgdc�‘�oqhbd�l‘sbg�onkhbx�sn�‘unhc�knrs�r‘kdr-022�Hm�
1/08)�Adrs�Atx�qdonqsdc�hsr�nmkhmd�r‘kdr�fqdv�nudq�03�odqbdms�sn�#0-20�ahkkhnm�hm�qdudmtd-023
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
01
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
KD?CDQRGHO�SD?L�?MC�DLOKNXDDR
Sno�l‘m‘fdldms� sd‘l-�Nmd�ne�Inkx&r� ehqrs�naidbshudr�v‘r� sn�bqd‘sd�‘� sno�l‘m‘fdldms� sd‘l�vhsg� sgd�mdbdr,
‘qx�dwodqshrd�‘mc�o‘
hnm�enq�kd‘chmf�Adrs�Atx&r�sq‘mrenql‘shnm)�‘mc�sg‘s�‘ood‘qr�rt
d
etk-�?r�‘�qdrtks�ne�ansg�
ok‘mmdc�‘mc�tmok‘mmdc�cdo‘qstqdr)�Inkx�rg‘qdc�kd‘cdqrgho�qdronmrhahkhshdr�vhsg�‘m�‘klnrs�dmshqdkx�mdv�b‘rs�ne�bg‘q,
‘bsdqr�’nmkx�Fdmdq‘k�Bntmrdk�Jdhsg�Mdkrnm�qdl‘hmdc�eqnl�sgd�oqhnq�‘clhmhrsq‘shnm(-�Rg‘qnm�LbBnkk‘l�inhmdc�
Adrs�Atx)�hm�Cdbdladq�1/01)�‘r�sgd�bnlo‘mx&r�mdv�bghde�‘clhmhrsq‘shud�‘mc�bghde�ehm‘mbh‘k�neehbdq)�vhsg�qdronm,
hahkhsx� enq� ‘kk� fkna‘k� ehm‘mbh‘k� ‘bshuhshdr-� Rg‘qnm�v‘r� qdf‘qcdc�ghfgkx� enq� gdq� rjhkkr� ‘r� ‘� bqn
,etmbshnm‘k� kd‘cdq�
‘mc�gdq�sq‘bj�qdbnqc�ne�oqnctbhmf�rsqnmf�ehm‘mbh‘k�qdrtksr-024�Rg‘qnm�v‘r�k‘sdq�qdok‘bdc�hm�1/06�‘r�BEN�ax�mnv�
BDN�Bnqhd�A‘qqx)�vgdm�rgd�v‘r�‘�05,xd‘q,Adrs�Atx�udsdq‘m)�tmcdq�‘m�hmsdqm‘k�rt
d
hnm-025�L‘ss�Etql‘m)�Bghde�
Bnlltmhb‘shnmr�‘mc�Otakhb�?ee‘hqr�Neehbdq)�‘krn�b‘ld�nm�rs‘ee�hm�1/01-�Gd�oqduhntrkx�rdqudc�‘r�sgd�uhbd�oqdrhcdms�
ne�bnqonq‘sd�‘ee‘hqr�‘s�L‘qr�Bgnbnk‘sd)�vhsg�oqhnq�bnlltmhb‘shnmr�dwodqhdmbd�‘s�Fnnfkd)�BMM)�‘mc�hm�svn�ghfg�
oqnehkd�onkhshb‘k�‘clhmhrsq‘shnmr-026�Hm�1/03)�Fqdf�Qdudkkd�inhmdc�Adrs�Atx�‘r�hsr�bghde�l‘qjdshmf�neehbdq)�‘mc�L‘qx�
Knt�Jdkkdx�adb‘ld�sgd�oqdrhcdms�ne�d,bnlldqbd-�Gnvdudq)�ax�1/06)�ansg�g‘c�kdes�Adrs�Atx�tmcdq�‘�qdnqf‘mhy‘,
shnm-027�Fqdf�kdes�sn�adbnld�sgd�bghde�l‘qjdshmf�neehbdq�‘s�Jngkr�‘mnsgdq�rsqtffkhmf�qds‘hkdq028�‘mc�gd�v‘r�qdok‘bdc�
ax�?kkhrnm Odsdqrnm-03/�Ld‘mvghkd)�Adrs�Atx�bnlahmdc�l‘qjdshmf�vhsg�ldqbg‘mchyhmf)�tmcdq�Lhjd�Lng‘m)�‘r�Adrs�
Atx&r�udmcnqr�gdkodc�bnudq�hsr�l‘qjdshmf�bnrsr-030�?cchshnm‘kkx)�Rg‘qh�A‘kk‘qc�adb‘ld�sgd�oqdrhcdms�ne�T-R-�qds‘hk�
‘mc�bghde�gtl‘m�qdrntqbdr�neehbdq�hm�1/02)�ats�kdes�sg‘s��onrhshnm�hm�1/07031�‘mc�v‘r�qdok‘bdc�ax�J‘lx�Rb‘qkdss-032
Dloknxddr-�Sn�bqd‘sd�‘�sqtkx�tmhptd)�ltkshbg‘mmdk�btrsnldq�dwodqhdmbd)�Adrs�Atx�qdkhdr�nm�‘m�dctb‘sdc�‘mc�
lnshu‘sdc�r‘kdr�enqbd-�Sgd�zAktd�Rghqsr–�g‘c�ok‘xdc�‘�jdx�qnkd�hm�sgd�a‘sskd�enq�l‘qjds�rg‘qd�‘f‘hmrs�Bhqbths�Bhsx)�
‘mc�sgdx�g‘ud�qdl‘hmdc�o‘qs�ne�Adrs�Atx&r�rt
d
-�Sghr�qdekdbsr�‘m�hmudrsldms�hm�sq‘hmhmf�sn�g‘ud�jmnvkdcfd‘akd�
dloknxddr�sg‘s�‘ssq‘bs�btrsnldqr-033�Sgqntfg�hsr�dloknxddr)�Adrs�Atx�g‘r�dunkudc�gnv�hs�rdkkr�oqnctbsr�‘mc�dwo‘mc�
vg‘s�sgd�ehql�rdkkr-034�Enq�dw‘lokd)�Adrs�Atx)�hm�1/06)�qnkkdc�nts�rdmchmf�Adrs�Atx�dloknxddr�sn�btrsnldqr&�gnldr�
enq�eqdd�sn�l‘jd�oqnctbs�qdbnlldmc‘shnmr-035�Sgd�qdrtks�ne�hmudrshmf�hm dloknxddr�bkd‘qkx�o‘hc�nee�enq�Adrs�Atx-036
UDMCNQR
Vhsg�hsr�ogxrhb‘k�oqdrdmbd)�Adrs�Atx�b‘m�needq�btrsnldqr�sgd�bg‘mbd�sn�sqx�sgdrd�udmcnqr&�oqnctbsr�nts�hm�qd‘k,
khed)�e‘bhkhs‘shmf�otqbg‘rd�cdbhrhnmr-037�Hm�‘cchshnm)�ghfgkx�sq‘hmdc�r‘kdrodnokd�oqnuhcd�‘�kdudk�ne�oqnctbs�rtoonqs�
sg‘s�hr�fdmdq‘kkx�mns�‘u‘hk‘akd�sgqntfg�nmkhmd�bg‘mmdkr-038�Adxnmc�sgd�sdqlr�ne�‘mx�qdudmtd�rg‘qhmf�‘fqddldmsr)�
Adrs�Atx�admdehsr�eqnl�hmbqd‘rdc�rsnqd�sq‘eehb�‘mc�sgd�onrhshud�atyy�rtqqntmchmf�ltbg�‘mshbho‘sdc�mdv�oqnctbsr-�
Hm�1/04)�Adrs�Atx�vnqjdc�vhsg�udmcnqr�sn�bqd‘sd�rsnqdr�vhsghm�‘�rsnqd�sg‘s�‘kknb‘sdc�eknnq�ro‘bd�sn�‘�rhmfkd�udm,
cnq-04/�G‘uhmf�rtbg�dwbktrhudr�mns�nmkx�oqnsdbsr�‘f‘hmrs�rgnvqnnlhmf)�ats�‘krn�gdkor�sgd�bnlo‘mx�bnlodsd�lnqd�
deedbshudkx�‘f‘hmrs�bnlodshsnqr�vhsg�sgdhq�nvm�aq‘mcdc�oqnctbsr- �Hm�‘m�hmsdqdrshmf�svhrs�nm�sg‘s�hcd‘)�Adrs�Atx�
‘mmntmbdc�‘�cd‘k�sn�ok‘bd�hsr�nvm�khbdmrdc�rsnqdr�hmrhcd�L‘bx&r�knb‘shnmr)�‘r�o‘qs�ne�hsr�deenqs�sn�dmsdq�bnmrtldq�
dkdbsqnmh
-
040
041�
CDBHRHNM�SHLD
Bnkkdbshudkx)�hloqnudldmsr�‘bqn
�Adrs�Atx&r�rs‘jdgnkcdqr�g‘c�‘�onrhshud�hlo‘bs�enq�rdudq‘k�xd‘qr-�Gnvdudq)�Adrs�
Atx�hr�rshkk�‘�oqdcnlhm‘mskx�aqhbjr,‘mc,lnsnq�rsnqd�vhsg�nmkhmd�r‘kdr�qdoqdrdmshmf�nmkx�06�odqbdms�ne�sns‘k�qdudmtd�
hm�1/04 �Nudq‘kk)�Adrs�Atx&r�odqenql‘mbd�g‘r�hloqnudc�‘mc�dwodb,
s‘shnmr�‘qd�ghfgdq)�sgd�qd‘kkx�g‘qc�vnqj�ne�qdl‘hmhmf�bnlodshshud�hr�bnmshmthmf-�Vghkd�Gtadqs�Inkx�v‘r�BDN)�Adrs�
Atx�l‘m‘fdc�‘�cdkhb‘sd�a‘k‘mbhmf�‘bs�sn�oqnuhcd�cheedqdmsh‘sdc�rdquhbd�vhsg�sq‘hmdc�rs‘ee�‘s�bnlodshshud�oqhbdr�sg‘s�
v‘r�‘hcdc�ax�‘�enbtr�nm�rs‘jdgnkcdqr-
042�‘mc�sg‘s�nmkx�fqdv�sn�1/-8�odqbdms�ax�1/07-043
044�Mnv�tmcdq�mdv�kd‘cdqrgho)�ats�Inkx�rshkk�rdquhmf�‘r�bg‘hql‘m)�gnv�b‘m�sg‘s�
a‘k‘mbd�ad�l‘hms‘hmdc�fnhmf�enqv‘qc�ax�Bnqhd�A‘qqx�‘mc�rgntkc�hs=��S‘jhmf�‘�rho�eqnl�gdq�Chds�Bnjd)�sgd�mdv�BDN�
s‘qsr�insshmf�cnvm�rnld�mnsdr�nm��jdx�h
tdr�rgd�hr�e‘bhmf)�‘mc�vg‘s�rgd�rgntkc�cn�‘ants�sgdl�”
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
02Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Cughahs�.5�Mnql‘khydc�Rsnbj�Odqenql‘mbd�ne�?ookd)�?l‘ynm)�Adrs�Atx)�S‘qfds)�V‘kl‘qs)�‘mc�
R%O4
�hmcdw�‘r�bnlo‘qhrnm�admbgl‘qj)�1/03fi1/08-
25.,.
13.,.
01.,.
.,..
1.03� 1.04� 1.05� 1.06� 1.07� 1.08
9ooid�Emb�Ophbd� �BgWmed 9lWynm,bnl�Emb�Ophbd� �BgWmed Adrs�Atv�Bn�Emb�Ophbd� �BgWmed
SWpeds�Bnpo�Ophbd� �BgWmed TWilWps�Emb�Ophbd� �BgWmed P%O�4..�Idudi� �BgWmed
286,7
047,5
78,66
50,4.
26,74
32,4.
Rntqbd9�Cdohbshnm�ne�otakhbkx�‘u‘hk‘akd�c‘s‘-
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
03
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Cughahs�15�Adrs�Atx�Ehm‘mbh‘k�C‘s‘�’hm�#�lhkkhnmr)�dwbdos�DOR�c‘s‘()�1/03fi1/07�
Eh
Yi�FdYp XXXXXXXXXX 1.07
ASrg�Smc�rgnqs,sdql�hmudrsldmsr XXXXXXXXXX XXXXXXXXXX
PdbdhuSakdr,snsSk XXXXXXXXXX XXXXXXXXXX
Dmudmsnqhdr,snsSk XXXXXXXXXX XXXXXXXXXX
Nqnodqsx)�okSms)�Smc�dptholdms,snsSk�
mds(
XXXXXXXXXX XXXXXXXXXX-
CdoqdbhSshnm)�cdokdshnm)�Smc�SlnqshyS,
shnm� S
tltkSsdc(
XXXXXXXXXX XXXXXXXXXX-
9
dsr,snsSk XXXXXXXXXX XXXXXXXXXX
9
ntmsr�oSxSakd XXXXXXXXXX XXXXXXXXXX
Inmf,sdql�cdas XXXXXXXXXX XXXXXXXXXX
IhSahkhshdr,snsSk XXXXXXXXXX XXXXXXXXXX
Rsnbignkcdqrz�dpthsx,snsSk XXXXXXXXXX XXXXXXXXXX
RSkdr� mds XXXXXXXXXX XXXXXXXXXX
Anrs�ne�fnncr�rnkc XXXXXXXXXX XXXXXXXXXX
Rdkkhmf)�fdmdqSk)�Smc�SclhmhrsqSshud�
dvodmrd
XXXXXXXXXX XXXXXXXXXX
Dmbnld�sSvdr XXXXXXXXXX
Dmbnld�adenqd�dvsqSnqchmSqx�hsdlr XXXXXXXXXX 0)353
Lds�hmbnld� kn
XXXXXXXXXX XXXXXXXXXX
9Ypmhmer�odp�rgYpd� aYrhb(�dubitchme�
duspYnpchmYpx�hsdl
XXXXXXXXXX4-2
9Ypmhmer�odp�rgYpd� chitsdc(�dubitc)
hme�duspYnpchmYpx�hsdl
XXXXXXXXXX4-2
Rntqbd9�Cdohbshnm�ne�otakhbkx�‘u‘hk‘akd�c‘s‘
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
04Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Cughahs�2T5�Bnmrtldq�Dkdbsqnmh
�Qdudmtdr)�Mnqsg�?ldqhb‘)�1/04fi1/10�’hm�#�lhkkhnm(
01.&...
0..&...
7.&...
5.&...
3.&...
1.&...
.
1.04� 1.05� 1.06� 1.07� 1.08� 1.1.� 1.10
Rntqbd9�Cdohbshnm�ne�otakhbkx�‘u‘hk‘akd�c‘s‘-
Cughahs�2a5�Bnmrtldq�Dkdbsqnmh
�Fqnvsg�’odqbdms()�Mnqsg�?ldqhb‘)�1/04fi1/10�’hm�#�lhkkhnm(
1.04� 1.05� 1.06� 1.07� 1.08� 1.1.� 1.10� 1.11
05,.
03,.
01,.
0.,.
7,.
5,.
3,.
1,.
.,.
8,0
01,1
03,. 02,4
00,0
5,7
Rntqbd9�Cdohbshnm�ne�otakhbkx�‘u‘hk‘akd�c‘s‘-�Khmd‘q�sqdmc�khmd�’c‘rgdc(�‘ccdc-
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
05
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Cughahs�35�Qdudmtd�Rg‘qd�’hm�odqbdms(�ne�Adrs�Atx�hm�T-R-�ax�Rdfldms)�1/0/fi1/08
Rntqbd9�Cdohbshnm�ne�otakhbkx�‘u‘hk‘akd�c‘s‘
5.
4.
3.
2.
1.
0.
.
1.0.� 1.00� 1.01� 1.02� 1.03� 1.04� 1.05� 1.06� 1.07� 1.08
Bnmrtldp�Cidbspnmh
Bnlotshme�Wmc�lnahid�ognmdr 9ooihWmbd
PdpuhbdrCmsdpsWhmldms
Lsgdp
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
Adrs�Atx�Bn-’�Hmb-
06Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Cughahs�45�Bnmrtldq�Dkdbsqnmh
�L‘qjds�Rg‘qd�hm�T-R-�ne�Sno,Sgqdd�Bnlo‘mhdr9�Adrs�Atx)�?l‘ynm)�‘mc�
?ookd)�1/0/fi1/08
5.
4.
3.
2.
1.
0.
.
1.0.� 1.00� 1.01� 1.02� 1.03� 1.04� 1.08
Adrs�Atv 9lWynm 9ooid
Rntqbd9�Cdohbshnm�ne�otakhbkx�‘u‘hk‘akd�c‘s‘
For the exclusive use of D. Pantoja, 2023.
This document is authorized for use only by David Pantoja in MGMT XXXXXXXXXXInternational Strategic Management (Spring 2023) taught by MENGGE LI, The University of Texas at El Paso from
Apr 2023 to May 2023.
07
Adrs�Atx�Bn-’�Hmb-
Bnoxqhfgs�©�1/08�LbFq‘v,Ghkk�Dctb‘shnm-�?kk�qhfgsr�qdrdqudc-�Mn�qdoqnctbshnm)�chrsqhatshnm)�nq�onrshmf�nmkhmd�vhsgnts�sgd�oqhnq�vqhssdm�bnmrdms��
ne�LbFq‘v,Ghkk�Dctb‘shnm-
Cmcmnsd
0� J-�R‘ec‘q-�zAdrs�Atx)�?esdq�Stqm‘qntmc)�sn�Rvhsbg�Kd‘cdqr:�BDN�Gtadqs�Inkx�g‘mcr�sno�ina�sn�“m‘mbd�bghde�Bnqhd�A‘qqx–�
V‘kk�Rsqdds�Intqm‘k9�04�?oqhk�1/08-�
1� Adrs�Atx)�gsso9..hmudrsnqr-adrsatx-bnl.“kdr.cnb]“m‘mbh‘kr.1/04.‘mmt‘k.EX,1/04,Kdssdq,sn,Rg‘qdgnkcdqr-oce
2� V-�Knda)�zLx�Qds‘hkdq�Ne�Sgd�Xd‘q9�BDN�Gtadqs�Inkx�Otsr�sgd�Adrs�hm Adrs�Atx)–�Enqadr)�‘
d
dc�Cdbdladq�15)�
1/05)�gssor9..vvv-enqadr-bnl.rhsdr.v‘ksdqknda.1/ XXXXXXXXXX/06,qds‘hkdq,ne,sgd,xd‘q,bdn,gtadqs,inkx,otsr,sgd,adrs,hm,adrs,
atx.!4e8
e74a0eb-�
3� J-�R‘ec‘q-�zAdrs�Atx)�?esdq�Stqm‘qntmc)�sn�Rvhsbg�Kd‘cdqr:�BDN�Gtadqs�Inkx�g‘mcr�sno�ina�sn�“m‘mbd�bghde�Bnqhd�A‘qqx–�
V‘kk�Rsqdds�Intqm‘k9�04�?oqhk�1/08-
4� I- Adqq)�zAdrs�Atx�BDN�Gtadqs�Inkx�Bnmentmcr�sgd�M‘xr‘xdqr)–�k‘rs�lnch“dc�L‘x�14)�1/06)�gssor9..vvv-barmdvr-bnl.
mdvr.adrs,atx,rsnbj,itlor,bdn,gtadqs,inkx.-�
5� B-�Cdmf-�zBghm‘�Chfr�hm�sn�Ntsk‘rs�T-R-�hm�Sq‘cd�Chrotsd:�Oqdrhcdms�Wh�Ihmohmf)�rsqtffkhmf�sn�qduhud�dbnmnlx�‘mc�ptdkk�
Gnmf�Jnmf�oqnsdrsr)�g‘r�khsskd�kddv‘x�enq�bnmbd
hnmr�sg‘s�vntkc�tmcdqbts�rsqnmfl‘m�hl‘fd–�V‘kk�Rsqdds�Intqm‘k9�5�?tftrs�
1/08-
6� I- Ldmsnm-�zQds‘hk�Rsnbjr�Q‘kkx�‘r�S‘qh©r�?qd�Cdk‘xdc:�Qds‘hk�bg‘hmr�g‘ud�addm�b‘tfgs�hm�sgd�bqn
g‘hqr�ne�sgd�T-R-,Bghm‘�
sq‘cd�a‘sskd–�V‘kk�Rsqdds�Intqm‘k9�02�?tftrs�1/08-
7� Adrs�Atx1/08�‘mmt‘k�qdonqs-
8� Dqokx-�Rsnqd,vhsghm,‘