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Question 1=

E-Activity=

  •  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 discussed in Chapter 9 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 discussed in Chapter 9 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.

Sources:

http://www.forbes.com/pictures/mli45gdjh/12-medifast/

http://www.medifast1.ca/index.jsp

http://www.camlawblog.com/articles/health-trends/unsupported-weight-loss-claims-continue-to-trigger-ftc-enforcement/

Question 3=

"Export Compliance" Please respond to the following:

 

  • The textbook author states in Chapter 10, “Export documents are import documents.”  Explain what is meant by this statement and how it applies to the purchasing function.
  • Select and analyze two functions of the Bureau of Industry and Security, and discuss how they represent the overall mission of the agency.

Question 4=

Export Compliance" Please respond to the following:

  • The textbook author states in Chapter 10, “Export documents are import documents.”  Explain what is meant by this statement and how it applies to the purchasing function.

    In order for the exporting process to go smoothly the exporter must ensure that all factors are considered and that all documentation is correct prior to the start of the export process. If export documentation is missing or incomplete the import process cannot be completed. As the textbook states, factors such as: price and payment, competitive pressures, forwarding and carrier option, loss and damage possibilities, buyer experience, destination, customs requirements in point of destination, and economic and political status must all be evaluated. Incoterms must be understood in order to define buyer and seller responsibilities. Export documentation is key to a successful import process. Everything from invoices to licenses to certificates must be correct right down to spelling and mechanics.

  • Select and analyze two functions of the Bureau of Industry and Security, and discuss how they represent the overall mission of the agency.

 

Two functions of the BIS are enforcing Export Administration Regulations (EAR) and coordinating the Commerce Department's homeland security activities. These functions both relate to the BIS's mission to advance U.S. national security. By enfocing EAR the BIS is ensuring all U.S. origin parts and materials are meeting requirements for exportation. This task ensures that no items that affect national security are exported without proper controls. By coordinating homeland security activities the BIS is enhancing national security through protection of assets.

 

Source:

 

Cook, T., Alston, R., Raia, K. (2012). Mastering Import and Export Management. American Management Association. New York, NY.

 

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