STRATEGIC FORMULATION M&N Company LTD is a multinational organization that specializes in consumer electronics. The company has identified Africa as a potential market for expansion due to its growing potential and increasing consumer purchasing power. However, M&N Company LTD faces several challenges in formulating its strategic approach to entering and operating in the African market. Questions: 1. Market Assessment: a. What are the key challenges in assessing the African market for M&N Company LTD? b. How can M&N Company LTD overcome these challenges and gather reliable market information for strategic formulation? 2. Cultural and Diversity Factors: a. Africa is known for its cultural diversity and regional variations. How can M&N Company LTDaddress the cultural and diversity challenges while formulating its market entry strategy? b. What strategies can M&N Company LTD adopt to understand and adapt to the local cultural norms and preferences in various African countries? 3. Infrastructure and Logistics: a. Infrastructure and logistics pose significant challenges in Africa. How can M&N Company LTDaddress these challenges and ensure smooth operations and distribution of its products? b. What partnerships or collaborations can M&N Company LTD establish to leverage existing infrastructure and logistics capabilities in Africa? 4. Political and Regulatory Environment: a. Political instability and varying regulatory frameworks are common challenges in World and Africais not exceptional. How can M&N Company LTD navigate the political and regulatory landscape while formulating its market entry and operational strategies? b. What strategies can M&N Company LTD adopt to build strong relationships with local authorities and comply with the regulatory requirements in each African country? 5. Competition and Market Dynamics: a. Africa has a competitive market with both local and international players. What challenges does M&N Company LTD face in terms of competition and market dynamics, and how can it formulate effective strategies to gain a competitive advantage? b. How can M&N Company LTD differentiate itself from competitors and adapt its pricing, distribution, and marketing strategies to succeed in the African market?