XYZ Electronics is a small but innovative company specializing in the development of cutting$-$edge consumer electronics. Founded in Silicon Valley in $2010,$ the company has grown steadily and is now considering international expansion. The CEO, Jane Mitchell, recognizes the need for a strategic approach to entering global markets. The company's main product is a unique wearable device that has gained popularity in the domestic market.XYZ Electronics has identified some potential in partnering with overseas companies through joint ventures to accelerate its international growth. The CEO has appointed a seasoned international business consultant, Dr$.$ Maria Rodriguez, to lead this initiative. Dr$.$ Rodriguez has extensive experience in joint ventures and believes this mode of entry can provide XYZ Electronics with a competitive edge in the global market.Patent Challenges: But XYZ is facing legal disputes over patent infringement in certain international markets, potentially affecting the joint venture negotiations.Production Bottlenecks: XYZ is also struggling with intermittent supply chain disruptions that may impact timely delivery of products to joint venture partners.Dr$.$ Maria has identified $2$ potential joint$-$venture companies TechInnovate Global and AsiaConnect Solutions.TechInnovate Global:Market Presence: Operates in $30$ countries across Europe, with a strong reputation in advanced technology solutions.Resources: Has substantial financial resources and a broad network of industry connections.Joint Venture Experience: Successfully engaged in joint ventures with other American technology companies in the past.Cultural Misalignment: Historical instances of clashes in corporate culture with American partners, raising concerns about seamless collaboration.Stringent Regulations: Operates in countries with complex regulatory frameworks, potentially leading to delays in joint venture establishment.AsiaConnect Solutions:Market Dominance: Holds a significant market share in the Asian consumer electronics sector.Localization Expertise: Well$-$versed in adapting products to diverse cultural preferences.Strategic Alliances: Has formed successful alliances with local retailers and distributors in key Asian markets.Quality Control Issues: Previous product recalls due to quality control lapses, posing a risk to the reputation of joint venture products.Limited Global Reach: While dominant in Asia, AsiaConnect Solutions has limited exposure and influence. Based on the information above and with additional research, answer the following questions:$1.$ What are the main advantages and challenges of using Joint Ventures for XYZ$?2.$ If XYZ chooses TechInnovate, how can XYZ overcome the issue of corporate culture alignment? Give at least $2$ recommendations$\mathrm{.}3.$ Assess the potential consequences of quality control issues on the reputation and market performance of joint venture products. How might the product recalls by AsiaConnect Solutions impact XYZ Electronics' decision to form a joint venture with them? Provide insights from the case and external research$\mathrm{.}4.$ How can XYZ overcome the problem of quality control issues if they were to partner up with AsiaConnect? Give at least $2$ recommendations$\mathrm{.}5.$ After evaluating the two alternatives, which company would you recommend XYZ to enter into a JV with? Why?$6.$ Do some research and give $2$ examples of Joint Ventures from the last $10$ years one successful JV and one unsuccessful JV$.$ Provide one main reason for each of the examples why they were successful$/$not successful.Please prepare the answers on slides for presentation.The assignment is worth $10\%.$