02 Jun Question hase 5 Group Project In a recent State of the Union Address, the President o
Question
hase 5 Group Project
In a recent State of the Union Address, the President of the United States announced the formation of the “National Export Initiative,”
an important endeavor that is necessary for long-term, sustainable economic growth for the country. The president’s goal is to double
exports within 5 years, which, it is hoped, should reduce unemployment by adding 2 million jobs.
This is the first time in history that the United States has put a real focus on government-wide export promotion.
Since then, the president has signed an Executive Order that formed the “Export Promotion Cabinet” within the presidential
administration. The Department of Commerce is an important player in this initiative and is charged with making sure that U.S.
businesses can actively participate in international markets by increasing their exports of goods, services, and agricultural products.
Individual Portion (1):
If you were a member of the Cabinet, what would you do to achieve these goals?
Address the following in 1,000–1,250 words:
1. Increase exports of small and medium-sized businesses.
a. What kind of programs should be put in place to improve information?
b. What kind of technical assistance should be given to first-time exporters?
b.i. What kinds of education do first time-exporters need to do business overseas?
c. How can the government assist these exporters with new opportunities in international markets?
2. What other kinds of assistance can the government give?
3. Where should the trade missions go, and why?
4. How can consumers help?
5. What will this mean for business costs?
6. How can the banks help?
a. What does the Export-Import Bank do?
7. What macroeconomic policies would be helpful?
a. Should the Fed involve itself more in the foreign exchange rate?
b. Should interest rates remain low?
8. How do you reduce barriers to trade? What issues do you think will come up in new markets, with old trade barriers and
enforcement of current trade agreements?
9. How does the also increase services trade?
10. How does all this achieve the president’s objective of reducing unemployment and increasing GDP?
11. Are there any risks to businesses with this new policy?
12. Are there any risks to U.S. fiscal, monetary, or trade policies?
Individual Portion (2)
Part I
Deliverable Length: 500–750 words plus completed table
As a business owner making a final decision regarding the international aspects of a business decision, you may decide to set up a
table with the risks and weigh their relative importance against the rate of return you foresee. You also need to put a plan in place to
overcome it.
Assume that your business is visible and an important member of the community. Would the government encourage a decision to
expand? How would it affect the reputation of the business?
Here is what the list looks like. Your assignment is to fill in the table.
Risk
Importer
Exporter
L/M/S
How to Overcome It
Economic conditions
Fluctuations in industry
Competition
Technological change
Change in preferences
Costs and expenses
Regulations
Expropriation
Interest rates
Government monetary policy
Government fiscal policy
Internal and external wars
Difference in culture and religion
Ownership of factories and
property
Human resource restrictions
Intellectual property
Discrimination
Red tape and corruption
Blockage of funds or capital
accounts
Change in government
Comment on whether the U.S. government would support a business owner’s decision to expand internationally or import in light of
the balance of payments and how the move internationally may affect the business’s reputation as a local small-business owner.
Part II
Deliverable Length: 500–750words
Part of a business strategy you are considering involves the reduction of labor and material costs. Your CFO suggested doing some of
the manufacturing overseas. The concern in moving some of your manufacturing offshore may be that you achieve lower costs of
production but lose quality control (a trademark of your brand) and perhaps even reduce morale in your company by laying off those
workers whose jobs were being performed overseas. These are serious issues. You asked your CFO to outline the benefits and
disadvantages of doing so in regards to your relationship with your employees, balance sheet, quality, and service.
Explain 3 additional benefits and 3 additional disadvantages that would concern you and the economy and answer the following
questions:
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