A. GLOBALIZING CORPORATE PHILIPPINES: JOLLIBEE FOODS CORP. The joy of eating is something that Tony Tan Caktiong and his siblings enjoyed growing up as their father was a chef. Together with Grace, the classmate who became his better half, he started two Magnolia ice cream houses after they graduated in 1975 and founded Jollibee in 1978. Capturing the Filipino preference for tasty meat and sweet spaghetti, Jollibee Foods Corp. (JFC) has become a multibrand multinational company. Jollibee is now the most valuable Asian restaurant chain. Tony Tan Caktiong's dream is to become one of the five most valuable restaurant chains in the world. Before, Jollibee's offshore expansion followed where the overseas Filipinos were, but these days, Jollibee is a company that can go local by acquiring homegrown chainsas what it did in China, Vietnam and the United States. As of end-September 2018, Jollibee operates the biggest food service network in the Philippines with 3,003 restaurant outlets, close to a third of which are Jollibee stores while the rest are Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King and Pho24. Overseas, it was operating 1,350 stores. Its largest markets are mainland China, Vietnam and the United States. In China, it has 314 stores of Yonghe King and 42 stores of Hong Zhuang Yuan and 14 Dunkin Donut branches. In Vietnam, it operates 253 Highlands Coffee shops, 107 Jollibee restaurants, two Hard Rock Cafes and 17 Pho24. In the United States, it has 347 stores under the Smashburger brand plus 37 Jollibee stores, 32 Red Ribbon stores and 15 Chowking outlets. The Jollibee brand is also present in Brunei (with 16 stores), Hong Kong (8), Singapore (6), Macau (1), Canada (4), Saudi Arabia (13), UAE (14), Qatar (7), Kuwait (6), Bahrain (1), Oman (1) and Italy (1). Jollibee entered Macau and Italy earlier this year and likewise debuted in London in October. It plans to enter Malaysia and Guam. Jollibee has a total of 222 stores overseas. The JFC group's worldwide store network reached 4,353 stores. To date, Jollibee is one of the most recognizable Filipino brands. Most recently, Jollibee entered the Mexican restaurant space in the United States by investing in the Tortas Frontera business founded by Chef Rick Bayless. This partnership was formalized through an investment by JFC of $12.4 million in Tortas Frontera LLC, in exchange for a 47-percent stake. The remaining 53 percent will be held by Bayless and other shareholders. Mexican food is a rapidly growing and very popular segment in the US restaurant industry with estimated sales of as much as $45 billion in 2017. Questions: 1.What do you think could be the primary reasons why Jollibee is getting more successful that other well-known international companies in the food industry? 2.What strategies do JFC apply to keep up with the competition? 3.What problems or obstacles do does JFC encounter in their operations? 4.How can JFC maintain its success and keep other international companies at bay? B. Among the concepts or principles in Corporate Governance, which is the most important concept that each corporate governing body must have? Explain why