GM Micro-Challenge Overview
The GM Micro-Challenges are intended to help you appreciate the resources available and challenges associated with global marketing to another country. For these assignments, you will assume the role of an employee at a company providing global marketing assistance. You will engage in tasks and research related to the specific country and US state which you have been assigned (YOUR COUNTRY/YOUR STATE). The GM Micro-Challenges will involve your responding to a selection of memos from your manager. Your responses will require the collection, analysis, and concise provision of the information requested of you in a business memo format.
YOUR COUNTRY/YOUR STATE
See the list of assigned countries in Module 1. See the list of assigned states in Module 3.
Use a standard business memo format for your response. Your memo should include all the pertinent parts of a business memo. A sample memo can be found HERE.
M8 – GM Micro-Challenge: Trade Finance
Your manager’s next memo to you is below. In it your manager is giving you tasks to address regarding international trade. You are not expected to be an expert, just willing and able to use the resources available to develop an accurate response.
Your memo should start with an intro statement that reminds the manager what questions you are responding to. Next, respond to each question in sequence. For each response, clearly state the question(s) you understand you are to address. Then give a written answer to the question that summarizes your understanding of the source info and state what source you used. Your written answer should then be supported with (1) an image that shows the specific source info you used, and (2) a weblink for that source in case your manager wants to get additional info.
|To: YouFrom: Your ManagerDate: Nov. 29, 2021Subject: Trade FinanceBelow are some questions that clients have posed recently. Janet had to travel abroad again so these questions are now yours. As before, she did leave some of her initial sources.1. A company in YOUR STATE gave a customer in YOUR COUNTRY a price quote US$ 25,000 (CIF) on May 1, 2021. They expect to be paid in US$ on July 12, 2021. The foreign exchange rate between these two currencies has changed over this time. How much more/less of their currency is our customer going to have to covert on July 12 than if they had converted it on May 1?Indicate the exchange rate between the US$ and YOUR COUNTRY’s currency on May 1, 2021.US$__1_____ = __________ US$_25,000_ = __________Indicate the exchange rate between the US$ and YOUR COUNTRY’s currency on July 12, 2021.US$__1_____ = __________ US$_25,000_ = __________This website will give you current exchange rates as well as historical exchange rates for over 100 currencies. https://www.x-rates.com/historical/2. Export-Import (Ex-Im) Bank of The United States has Bank Loan & Guarantee Programs, Export Credit Insurance, and a Working Capital Guarantee Program available for US exporters. Verify the programs available for US companies exporting to YOUR COUNTRY?Check the Ex-Im Bank’s Country Limitation Schedule to see if these programs are available for YOUR COUNTRY at https://www.exim.gov/tools-for-exporters/country-limitation-schedule3. If the dried meal worm powder company is eligible for a Small Business Association (SBA) export loan program, identify an SBA approved lender in YOUR STATE (or a state close by) that participates in the SBA’s export loan programs.https://www.sba.gov/document/report–participating-export-lenders4. Identify one financial institution in YOUR STATE (or a state close by) and one in YOUR COUNTRY that handles global trade finance. Export letters of credit are the payment method of specific interest. A client is considering this option and would like to know what institution(s) to consider. Please include contact information for the appropriate department in that institution.A useful resource may be trade finance award winners – https://www.gfmag.com/magazine/february-2020/2020-worlds-best-trade-finance-providers5. A client is considering the use of a Free Trade Zone (FTZ) or Special Economic Zone (SEZ) in YOUR COUNTRY. Identify the names of the options available. If there are multiple options, the one closest to the capital would be preferred. Discuss the benefits this specific zone offers. Include the contact information.|
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