Developing Your Idea

You need to purchase finish products or raw materials from an overseas supplier. Your idea should be simplified to the degree that you could possibly implement it someday. Your idea should focus on one country and one foreign currency (USA), since many companies are focused in this manner when they are first created. So that you can recognize the issues regarding exchange rate risk that are discussed throughout this text, you should assume that you will need to payforeign currency when purchasing your product or raw materials (Any product of your choice). Your idea should be for a small company instead of a large company because many large companies started as small companies.

Your proposal should have 2 headings as following:

1There are risks associated with countries, discuss each risk and align it with your supplier. Outline measures you will put in place to mitigate these risks

2Discuss the different methods of payment and outline why you choose the letter of credit

Points of Detail

• Please use appropriate heading for each question
• Word count 3,000- 3,500

Please use rubric to maximize your grade

A late penalty of 10% per day will be levied on late submission.

• Include at least two references resources other than your text.