~.i\.

-lia~M> liS - El~%l;rlli [Ir;- r,~l'ri:L

G CiJIIt'- (;M:oId!arllfl c~m~,n GL - (ii"nJ.,jt1 Lad,os

G N~ -il!EiN,a9.J,in:liIl"'oII'ri,:;m f,,,,; ,am M~ ~<l1Ji1!J:)' lJ!jI".Jl'~OOJlJ<

~l!i' - J'Jillm.g Ten

TIl -llhe,1iI1~

Nfl'ift: B/ti'bii 1 shows that Gi~rJlln(j's i'nt~rn.aii,(l\.I;IQ:I !:lperaJiCill.ft (aft' 8/~11'!1i.t1;l: itKP'S f~l" its ;S~t11· EaJ.t A!I,I,an' (;rpe:rn/l,ojj:l.~ (}(;;,rlltj i'I\i)~ ,I,(} rm!1Nhm "G Ne~I'" ,I,(} teg,li'ia cojj':l.i~',i\i:!irl IN;ii.irhm.i~ (Jiir",s.~' its :;.om'ittllS g~g1'iilPJfji,!lJl 'N~~'k"'.t5, ~~I,d ,~'I;I ';',(;;IH'grgou. Il!#h G'iord<J'n(1 's cm'r~n.~' p(1!SiJit)fling in. Hemg KoNjJ,

As Gimdillilo CnL1::r,~ ,UnH) 1lI~'W mrlilr.~~, ,ilDl:t1 fiIG~ :!lUDIfII2; ,ilnti! s:b:rui,Uilr~y p!)"~5[il:IDOO CtjIll!1l'Cti~Q1S, in Ilhc.:se, markets {e,g" Tit!: G~p iii! due, US, J~Pli!1i! ~JlC_I !J1@t ~1IJ(['Q()c~i!i! Illi!rkm)i. tliiGp:res8lJ1re to ad.opt a s:l~gLltVy dmimMlil pos~tiQU that :;1W~11'l tlJ,~ miiiql!!le nnuiOOt ,s~Illi:at~mll of ~, pa~ticubt eount~y may iiacre~:;;.e" ~:n ~hisca:;;.e, SJUliJd.0lm:c01!Iid SilllggeSi: thai Giuoocia,no, acquire am)th1!:r~Uf;:[i~;I:miIllJ nr f;:[iirt-Ilp ,ii mtWbl!ii:unCMl c:m!~it}" IlJldtr a t1l(l"6reml:l:rtimdi, w.itlTl i~ uWu pr!<!lll:i{milll,g IiItriI!L1::gy, In fact, !hisifi.unu!<tr,ilrI:lJ~y (limdilllU.l'S :retcnt venture, Illu,CS!tilt Exdln)JlJgc;. whlclJ CMCl'<;xJ to !l mor~l'Iik'\l;l~1OllsdioIJ8, ffi[!ss"Jlwrikct ~glillC.llLt.. However, tim Mtllltegyis e.Klremely Ii&ky due io tliie costs iJ)""o~vro i~ ooilding a, Iii(}W liIlilll"kNIIJ)g ML~lIIIegy aJlild br,aill,d.all.d swdeam;: may eome n:o the concUlllLsiDlD ~h];]t 1:,.'I.\liIDg ill. '(:()Il,sistent ros;itiofl~ng may be !hc r..e!!unprhm C"i'Cll i:f i!. means almpe!iug'.lTIeiiJ.-<lll w~rtlh CSitalbUi:o::h:ecl! l:!r.illKk

In conclusion, ~ potc-li!lliru s~ljItcgy fut' Gi.urda!119 cO'-lld.lilc ~o llli!i!i!~~l1 lrts. pos!irt~mlli.ng in Hong Kong IiIndi OV{lT time slowlytmd. ,gJl'ailm'llLy £liiif! itsPOOUIll.W iJIUIS ether mmr.ilets £JlglhUy more lJaJo-I1I"iiu'koen; ID follo~r its Hcmg K.rnag posulnmainK ,],hl& st~.;Jtegy would! 11lo'liVe the ,ad\:J0i:H. ad\i',ilDl.tiige [hiilt ut wm!lUlI tno'iff,; l!l![Yw,ilr~ !llg.r::tlTler WI!h i!:!: core I:i~rg):l :!legmrli::ll~~, whidh is ,Olfitl (_k:V\CbOlJ.iJlJ,gIJiP'wru~1s in tCrIIl!li ufcc_llJ~1ItKm ~J!i!d incrcaslng diS:I.:!'0311blc ineome (moot (If Gu,orolilll!l8 M~;;m IlIll!Itkl>U lilfe d~velolJlulillg fOl2t)"WeIw.H~'i'f ili~1: lu tliie belance, ii! wouLd be be:~iN for Giimwillo ro, m~im:ai:o a. cOlasis[e(rii: posat~orlllilig aemssull tu:ai1k'II:~:S. even w.h:eo Gmotdano dM:i.d~ r[) en1lCr ~oI!illl!ries: Wi!hi:lntrCnthe.cl! compe!nHnXS wi!h ,~n:r.i:Ll.l.:ir' r.<lllutiunung, S!lml!l!ll these compctitmE be roo Sot.rQllg, we, fce~ !Ib~t ~t wOIJIJ be beu,cl' not !ocIItC[ this m~J[ket rallil~r t~a~ try lo~~tabHsII] a new brinoci. and snregy. The lilIl3Jun [!MiSOIilI is tliial tihk wouLd be expeilliSive mocL ~1:i;gh risk as lessor {ho.nH~no':s oOOI'-e. SI1relDgnlc~S, oolllldJlX' lrm~s.ferred. [0 mis ne:w marker, il.m.lbeDl{:;fI!t~ from, ·OC;[lIl,{lr.i:~ic"~ {If !i,(;iI~~ C!:fU.Wi IK~: :fIlH}' be ~ {.r::,.g" in ~!(::rrut\l (!if' 1lli!1Il!l"~ltlJ[l~Ji!; VQlmi!l~, 1mI!1:"tJing, !~linrng, ~~1;,).

%n~ :;IJe, Giiru.m_J1U\S Kcy S~lCO;:-..sS f~cilmS (ESf) and OO1J!wsofoomIJQt~~!iye, ~d!~'m~:lge,1 AI'\: ils OOll1Pdt~'i'fad~mltl!Jg~ ~t!~nimlblle.tlnd, liiol7i' \"OIJ]~d dt.zy dG'i'flop till 111]11, furn:r@'!

'Ihis q;L~eslll.on eau be <rpf)fO.a>C]l.oo fL'O'l:U iii. service Silrtl.re,gy l~t'SpeCIi¥~ Pillit. ifI](O 1!I~11lIJrei I~ul industrry GitlOCial!O ~s. 0f~ratilag Lri Ciliil be ~n;)lyzed lIIsingPol!ter's Five fOE.,es ]ntJia],e'WoOfOC_ F:-.mlTler iill!l:i.,gihl call be dm:vcd :fp;Jm ~iIli.'Dl~luSil:ry \'illu.e-o.:iha:illli ,ilnillysn£ 10 .r::XoIl!mrlillU: 00w {JklRI!ru~"Q ~ll.ll]'mta.y c~I~_I~~s"'~llJ~, Scc~lnrJ. G~O.l'o;_liMJ,;/'li SQIJ[,!;:~ 9fGQ!iI1p"'ti~'iiC; ~v1'!m,!!gc, ffild iKS.f could be uooliltutledand, tliieir ~ustailii~lb:iliity avaluated, [~I addilii,OJii, reconnnsndations on how its :KSf t01!lid.lX' de'llell'l(led. {JoT ,er1J.d.OOi t.:l!i:i be pt'0Sea~~0:H_

Uci~~, PmtcJ's (979) f~\I\C forces ft'amc .... url!;;. j] can be shown !ib~! ~hc ['~aiil ,a~lJJ'A..rcl ~dl!!!sITy is QI[~'e[jaily attrllclti.v~ tQillC'Llm'blWlls iilke GiardiLlIO,lbuJt Wti~1.11 OOlllJJl>i:ltiolli lJoe~n:g the mailll t~cm':;)t, the: il1llpmitall.oe: -of nlllill:taifliflg arm:!. de'ldoJ?i.iIl~ Sll:.<:rill:l:iJilible ad."'timlll;ges becomes '0PP"i!rell[, 1Thi:!i is s.l.!IliIJm~ri~ in Exhihi:t .2,

.. Sur~plu~~.s, :I]Hl~~ ~O'w n1a£'8am~ai~b.g pOWet~ as u:I.ordll1fbO 01iA1fibS, n.he hrnndJ name of tITle end produc:[ ,~s we.!l ,ilS th£c:usmtnrt llIllii:rf:ll(,(:L iP'trllJil.ctiun tall also ~~ c~cily swirtJC~~ llrom one Iimli!l!!!f{t'Ctlli'C.l' to ~J!i!otbc,l',

.. Ouisto~L's h1llvelitHe to 00 collect ..... eIJ..aiLy:i~Ii:l]gp()'\1oiIer" HOVi'evel', m~mO~L'S ~OOk:n:ilgo;,r;:]Jlu.e·']~l'iftCI:i:1ey com easi.ly s ..... irdh f.mmoll.e i:l~!tli~~e~ [C ;:]Ji:1liilihet. GnmrlJNlJted m':i!l\~IOlifltr.:. w.lm :mc:k ~ped:l'ic 8iPJlard Ibr,illldii:,

.. COJil1PGlll~ive 0..,.<1]11)' is llilgillall!:l im:relil8iMlg illl iUIellsily illl iIii() casual IClpptlmi ~lKllJlstlJ', This ~1lIlS to be eaused by l.IJ,'i'i'er gt'OWith rates, atl]a iliie aggleSS~'i'f ilell!Oll'o'iilr of il~Cl!Jll'iflbeilm lA'lm ,cu~['!(mUy fo(iIlIsrei~ld .... elymQ~e he<l.\lily on ~fl'!~· ptkA:: c{ltn;peti.tiulI,

.. ,],hI~t of ~)(Ii:el1lilllll liIewentr.llnt-s is liIl.odlllmte M slWoolauii1li ilillV~tmentll illl IJr:l!l1d. hlllnldJiJgall.d ,1 rn.etW0r.li.:oJ o!!llt~em Wt)lIIl£llDe ~ired~Howeo;,rer. ~;;lrge unrcmiltillll~!tlTlilUn& 8IJJtih, a~ The G.ilp wffilild. ,lTIiIVC I:h:e required res!:fLln-e,"~ !~l enter should tlbe 1lliI_d;c~g ilJIPCm- ~llffid~m:tll.Y !l:tt~:;[c~iivc.

~ ".D'hireaJt o;f 8'lJJb.stUIlUI'lS for c~8UlIJl ®11JJill""1 is ~olli'becalWS'" of the ,la;.,;t; of good ~ulDstituJites~ probillJb.ly the: cihe<i(ler im~t~ti.O!alml~ds ~ndl!lJJ1l.1jfiJjj~ded pro.<Luc[:s serve a~ 1:lre nearest SiilhSitumrcs. but !h~ !~J;g.r::! miiFikct i~ HIte!y In k,diiIretelllt,

UcimJ~, ~Jw;r'~ (1985) 'ii~111~ch1'!in .~n~~ysds (E:di!ibit 3) ill ~OOJ b~ shown tibn~ ~1l ililll 1'!pp~_!'d ret~i]m.', Gi.:rrd3lJm >Clilprn:re.l:, Inl!LlC~ o;rrt!]]® vaLue ililltJ.1:®IlIll!It'kf1.tun:g. 8111"'8 IJmll oo~.i>ce ~1l,ges of [he industrry 'laUue tlhaJ:I],F'I!lIt1tI1e:rm.Q~e. moM ·of ~he "'ilI,LlIIe in Ijb~8 t~:lain can IDe e::l:lIratrted!ltiy [i'le

~till~d tl\illl~ iIllHJ IlI:rcrotilil~ (E'1!hibi! 4)_ J!l;ntl] vaulilil-gcumucrn: ,ilre WWIlCti 'by Gillrtiill1.C1, wlukhg~'I12 ill !l! ibii;gfuV'IIDI!v.l-.cWl!,'CtitlD I)!iJWlZ rdMu'Ilc W Qlfucr lI1!:ultct 1,bym'8.

fJ1SK Of EN'lKf B"!''J!''lft1Il,'>'lM1.

COMl'It'llmll.s

= ~[{)Dii'RAT.f.; -7 [It1.e:;l!II"'c1.;" ri1nnuJ 1±1l.i~hIDng., :mL ml:a.ijl, oolkil!=: """,I""

I;AM.4.fNIN6 Mw8!!OF NUI/lin.::S

- },j);)iDBBATE: .;. l.,..)w ~",ltd:till.c Qi)f::iJ: ~,,~ [0 I;<)~~\~ ~jilln~ Ji'l,w'.:r

litWALl'lr AM(.I:,\'(O l!S1ABL1SHEf) 1"Hi.:M8 = HliGl.i -7 .~ """I. '"'11- 'Illiru I.:LmIp.;~illil.ECl irJrt:ru_iJ!=ijllg il~ ~1~l1.5.lI!y~ ,I"""", ,1.,Ll.,.I. ~"'ju.

B.'II~.1Ni}"'(O MWEl'! ,OF SJJ'i!l'1.J£..~S

== U.n.v ~ ~Lr!I1-pIJii!n: i::iJJIJ ~ :~bi,;.erl 1!i:i!ii~

'l'HiIi'.MT&f- sUl!!5mvr~ I'.II'ClJUC1S

- LOW"" n...~k of <I_'ororr"",c< itxr ~I!~ldli!i:l:r(:.<

.f!"Gi~jl Ji'li~ ~.OO%

TJipt~~ V1lilt~

Ci!'~~tl(>il in L-_-'- _ __JI."- _J.,'-- ---'·.<- -" L ___f

!!.ppm I

Industry

Source: Ad!lIJ~too from.~L"s (198S) V:lli~u,e {]mi~1 M~L; 1iI](> value cr~~~ll.Qlil I1Il[1jmbe:rs ru1'l basedonthe ease amluor'~ eSJIum:Jtes"

OWi!lers'hilll omt'·Cm~tLlTI..e:r '01ntlild {Sal!;!!; aDd S'!lJ'V'~~e)

G~ortIiino., J!l;ii!5Jm, H,iing Tell, BOO;Sirn,e~o;: ,

E:nmds '~9!: ~clJUSU'i\fUy retailed (ecg", "111'.1.:e.e Rifles, .AI~ii~ [)iI.~lII)

Rma~.LeI1i wi[hir:lllllri.·-ood (e,g, , [Uiky'J., ll'nikasll!i:DmI!YIIJ, ;[]Jd mOO~d~p1lLilmellt simes}

!oli:fJi;!_' S(lm~ bmrJd~' (jJ~ ~ .C:(l.~llbinaJi(l.~ eif n:taH j!:WII.f(lt¥ (e-g", di~tMbrJ!ilt8 l1i~I!Jlilti-blOmd de~'nl~~nt 8WJ'f1.S ~s WF.'1l ~s :>,/wdr;fl)l SJ(W(;5 ,tfu.rt un/ycany th-c:i, ow;>! irnmd), £:"~mp-lftS(ll sud~ br(mris r!'ldud('- Crm-odik. LaWl'J'ml1, aJ\!d l;wJjb~rjadiJS"

G~mdallo>s CO\lil1p~~llIbrll ad,"'~nI~,ge QVertJIllI~L';S ~n ~]~ Slum v<LiJl!l(>'c:tIJJWre ]lQS.um,OJiilI~ s.lhOWIlii un E~~jib'JJt 4+ (e.g .. , Bill.leno) fhllag ~[efl ,and8:o;ss:i.aJii.) hssbees is!!ImDl"~dzilld .un E.1i:hibi[ 5. Gimdiil1,o':!;K$F lllrnd f;o(IrcM (](ftcmiJJpCtu!~ ..... e ~ldI.ll,iintiigc crlllki ~llt]Ii!,jt-:

iE)::ceile..1.1Ce i~1 d(>Si11:~I: bu ~md. liI1arke~-dJ.'hrelill n(>w l}rodu,etoo~d,)IIIlK\.l1t, dw"'e iO' ~]!;ll Q]':!lIill~zatiQ1Jal Si!ruCliUre, e:.\ce.LL.ent or,g.mlzational WJiI1ill1]lmucalli,Qlil ,llud ded!lca~i.ofl [0 tile needs 'ill' tUSJI{)n1!2;[£ (e.g.. SJly.Le, fillMes. etc.)

'",

iEJ;~ocUc:rJCC i!ilJ .Iill!!!lll1g~ill.C1l! of op~'.~tWDli, ~Jgis-t~cs ,~!il"dillfoTIll~titJn tcchoolQ~,y .sY:;WII1!li: tim includes ~Jf~ti~ :;upply ct:!.!IIiuru!iJl.:!!lJl!ll~~. ~ventm'Y o[:-w!ro~, J~ilr~buin.OJil. :lIilld :integL'.1Ition of l)Urchasiuga~,d. :re:ullliig functions" Coot s~,"in;g;s fronliM.fnci~a~.op02:ra.tuml~ are Itir,wr:isfet'lre(!. ~o CllS~{lrru~r,s. thus d.l2;Luwrung "valuef£1lt-lilJmlCy~·,.

EK~n""l.lCe in IiI1I11f-il.';eill.ug IOlllild hTIlIfiiciiliig: SIIWJiig IlQS.Uiu.onun,g, bnmd ffl,lJIllitYDor excellenr service ''lIad. i1Ibillity 10 deliver "v,;)~ue,.iFor-rrmney"., (;OifLiSis[l~m eX:OC!!JItiQfI of ad'i/e,titus:i~g and ptXlrrmtuoru to sh'eif~llhetl h);ra~.d itllllgec

.. Ex·c~.le~£c i~ oo,~l.'i(lC: eO~luflll;;JJl u)j~jfll]irtIiifKmt Ito pffivitlini;'l eCl:(lC~~.0l:1[ cuSltfl:mM :rervi.e--e anti! [e;!ipnn:re. 'J.I:uL~, is 1M ri!:w]~ {if' i:lllcgrarin:n 'If ti!JetnrpL1I"8le p,hik100{ltiJy and lC!lili.brshiip, ~c.I'~Ii.~ oric-ii!!'!Itloo uK WlJl_)OIting functions lilic lifllmum resource policies (e,g., selieciii,m, Drl."Inliiiliig ami re:1J11!lliiernlim of flrOOIJnJ]('l stmfl') wflil ilniforn:uatuofU 8y1lter.r~; and perCorm1l1JCel11Oflumring (e.g., reg;1II1wr e" ... ~IIU~[i.Ull:\i 'iJir s.ercvl.re ;ll1:;iml~rd1!i al. :!:L'r!re level ~nd m.yfilcr)' ~b.~lflp~ng}

.. GQod :site selection: Giordsne's ~O!;~~iOD s!n!tcgy Ij\rt1'!lkk~ ~cOD1!~titii·~~ ad,vmtfige becaese of its direct impilcl QJ] lJJiJ'il~ly to geUmLffi hbgh 'l<:'}L1!Ime eustemer lIra:ffic '!A'[hHe .~p:i.~ low 11I:l!l~iIIS,

In ether WQ]'d~,. it us the s!llJ~IQr il1lP~e.]1Wl1l1illtoo.J:l of care and. 8Ullflort .aciii.vuJtLe8 Ilbart i:lmlU!gill,t p~r~: of the :li1lJ)(:Ci1:S8 to uiorWl10" Porter ~ermed t~luS. as ·"{lper.lltkl:il;!il ej"]"eotu'lell.ess," (P.()rte~ .• U~%'PtP, ·6.1-18:), Ih~I.US., pl=rrl:lrtnillg :\:~m~hr .i1tlhl-a~:i~~ ti:>encr' th~1I1 :ri.v.i1~:I: perfmm tOe~. Frntt~ !!i!wtm,X roXSLJ¢Ctivo:', GiodnnJ}(1Ipm;'M~B in !h.:, 'C~k u.l' &'I.ICoI;-esS {&hl,lemJ.ger ~n;:J Hesken, ]99I,PI1, n-28),wh~clil~!: diOOJ,Swdi furtlledllJ Qu.eslti.ooo.,

Sruil.eutil :l:hoo!d. ilnempl In eV,yl!l!l!ilte dlC s,tI:!:lailua[,i!i~y of these key success fiIClm,~ unr=.xiSilung C~Jl!!!lltL-y 1iO.~.IikC!S, ,1m·d SIJl\gc:,stiOIlliS {!JJI how Gio.r~JlOo(1ll;!ld ill~i!ln~:in lh-!::{iC ff[C prov1dbc.! hll col!lrnrn, ~WD aocJ !tI~c of Exhibit 5, 1~p~c!hcly. EG;Scmi~:Uy. ~ibc ~1Ici~ ~il'lw.riI~ of sustainability shouldl be identified, ie,. ii mustbe dliffic-ult fill ool11lletlrtors ~o copy ml:dlor nt I1ImSit talire [illl1ie to u)J_>J'. to <lJ~iOWGnilftli1liKl to Itli1lnj~~;!i:i.n nl[g i1Idlf<lJrtmge alt .nei1lstfor S,61!:Ie; ~i:ln:e, Wilih. ("{mli.llu[:i1l1li.T.lVe:l:tmlmt i:o !:tuman res.ource:l: ami![ltgillli?'.:;i~i'nll~lL'[lmmtlulililleaul. ~fl .!ietVi.ce uric-ii!!atioo;. CQJi50t:mt ~mpt'9vcffiIlcill!~ ilii de~,IiI1md ~n th-c cffidcill!c~{of Q[)C11!~1iQJi!~;1IIld clfmt~ bru lncreaslng nmrlretiliig musele by pmmoli'Mog UI'S bnmd,~ most Q'I' lIiie ksy seccess factors, e-;:Ce:lJ( :;;um~ s.dec~nj}ja,are somewhat sum;!ii:I11lNe i:1] Ilhe medil!IJ1iifI Ito 10llg ~enf'l.

For instffilCC.C;l;·OCUc.!l101;~ ill tk.s!i,g)i! i!!~_d servlcecomes [rum the ]otcjgr.atioD (.1.[ 111l!l!ly~c!i'iiitUCE ln too v11illue c.Llll1Urll: ~Jt ~,uvo.~'\l'e.S, ~nt~ngli}le e.lellOOnts SI!!lCI'I as o~,golllrui'z81ion~~ ~ttlJjre~ and iii: does 10m res;iile; Ir~ <lJuy (l~r~nOlll]:arim:!i\lidJlJl;)i_ T~'ruIS" itis 1!:lore d!lffi.Clltt Cor OO!!l(lmHlton:: to '''rmach'" lihi~ fiA.1lirrt'~ l1!f s,Jv.ilntsg{! and bVCrn:ilIteGiooilno, il,~ compared m ilUfrlp~'y .i1oquir.ulIIg ~l!ipl=do:r ~11l!mk1gy or IJll:lqlclbiug gooo I!Jl!!!!l1l~pxs .. Morco~oI, CVCJ1 ifooD1!l"C!~!urs. WCJC, W o'btlli!ru trn!) W1!IfCe of ~d'!,'olIImt"ge, it IIlligllJtb~ dlitl'iClitt [:or iII11e.:m to ~,mj)l.emID:lil: it IiIS ~U(lce.ssfuny,becfiu~ 11I1,lIny [acmrs :;UGh as ~he lype of orgnlli.l.aDl.OlOai. OlIIlrureall'<l lleadership· woold. \li1Iry [I'i.)n:u c'lmpiilll)' ~![~ c-mn;p<'llly. Neve.r'!i'lelals" Ounrclli1!o.u :l:h:l.1u~d. never resr ,milL~liJ{ilJteb" Ra!i'ltr, i[ sl'oc",dd k-.cl:; L!IIrWnCW w~ uK iIiIll~J"~n.g 1I1IlJd s~J'CIl.DllCl1lciJJg lr!s, ndv:'1ntagc. ~c' io_1JXirt~_Qt wO!!)' of doin,g so is to OOJliLnuHy mvesr ilii its OO:l:t91 J€BO!!!lL'Ce~:. lim F'lmg (former CllILef OI~OCIJj m:liire~ and E~OClJltive Direcror. SooHl·E;aLst 1'I.!lia} rigbltly said, "lPooflJ.e are !liTe key'".

In t.he lQli!g Wrm,. 5IlIst~j!i!~billi!ty clCP~DCIls 00 '!he ffiIl!!1Ill!I~P!IlC1lt of GUo.rd1iJJ.o iliru bc-iog ~bk to 1iI11i1il-;~ moo:daO' a tIl.I8tmne:r-, lQgU,Siic;s- <'Iml l~aJliiO'~~gy-dLive:J.l .lelilTIl!ill,g org~nuzatlOJil. A:J, liI]e preceding dUSCll8s;i.Oln dei1lriy s~ct(}'!,l;'.s. the ~!:Ian:l] cS01!l!t'Oe of G!UOt'd1i:ilO' oS cSUCCl2SSUS ~he liltegr.oltuoifl 'If il!l j1rull'lil~y f'OIlllt[i.tlllfi; (e,.g" Illl]!liiltic:!: sndlilllilrkc,ting} WIJd. :ifillPpnrn: filJJOCunllllii (r=...g,., HR .illKi! mun ~t!l ,,~1l1c cllaliu" Tliri8 lis b.rg~~y sll50uin~IhL~ ]n the mo;:_I!1l11i!1 W ~~ng tclm, pru'-idcd ~Ii!~t mrn'd~liiO' CO'nt~nu~ (]) 10 iJ]V(3g[ ~lIiiiJts ImmM roW1!lro~s, O} tQ cmnmut to it~ ,s~.'\Iic~

'!:II

pbHB!lni?bY .omi! CUilLfilTICr miernISI:lflD, ami! (3) LiOll1i:mimr 100nmdl.l:!/l:ry ~l.1ld. c;{llll:tpd:iri~m :fbr '!hI'C~t8 and ZY,pportl!JJJlJit,.ks,

Gi~ni!~:nO':O> K~y 8u~ .. Facwr-s (IKSF)

F,~,~( and .. mtl~r.ket-dri.voo NPlll:

SyStcJl1J[!,t~c:>Illy collects ideas ham C,1!IstmlOOl':S, 'front ~iloe ~fldI expeti,e,J!ced. d~igne[;i;.

Fa5lt ·t!,l![!J1I_I'l)!!!!!J!.d [rum ulJllrket l:mj)ul~, design, marl1ul'acrurilag [0 di~lribl!lJli.'m l'O lihe shnps;,

BKceJ,leml marmlllgl':-:l1le:nt of S'J.!'~wus ::liil,(l imegr,ul.Olo oJ ~Iltttuv,u~i~, e .. g:, SlI}r~~ ObSt1~c@cnceoost:s ,;m~ miJli:mizM du(; IXl=

ILl.aily S;;]Jles, reports {f1i.c!nul1ilccl! IihRfIl:gib IT & SystCIillS),

llm~~(;d stock ilii :lilmps. llii~l are (Lan.!.y ~tocked!,

!l::;ipi,J. ~iir.ll:et-.ili.i.''''~o 1llJ,,'I(lllI[ ~c!U.l'ing"

nnlndling~:rld MlIrk!l):li,rI.g QhrtttbiiIiJ[j'& [kauu:

E:\osirt;Lwillg - bclps ~nstll!!Jt ttolllM:[er of key vl!ilu.es G!uorrl:a!ijo· ·oflf= C .... ;!i,LlII0- 'fbr-liIIloue)' ,gflolhl. liItmluty ~1IS1_lal we~J;', e.~cclDent s~fIi'uce).

El!cd~entH1mllil Wi:.'£~l:liflilaOlU duc ~)o high

L

S_ainl'!b!ilit)l lin J.::l!illsJ!ing Couotry Mark-elt;

.s~lmewh:;il: ~il;!lI~:ill1~lb\le

B:~lics 00 cl'fcctivc orglllu:ization8i tOlf'lffmrulc;)DOfiS. and otll()t iIl18:0gib!~ fiAJIIr-toe:!: of ~cl."aDt1Ig{:, whlcliJ ,111' .. diU1ic!J]i~ fOl' WJiI1pelllJt'OIS to tOpy :<iit.loiil. il1liplefll'llMu: e;fftltllvdy,

.s~lmewh8[ :l:'il;!il:;i:im:;ilb,le CJimd~.no's dfi..;:ic@cyiln log~~tucs and ~~ClJ:l:'l may be u)il_lJ.e>cl O~ even e5!teoobd. winlh 81l ~cql!!!bjJioD of 5IlIpcrior systelil1:':, How'€V'e:r, 1lI]~ :llf'C nCH®Iil!IfIy tOIf'l_f)t:[iKK'''Swihu ""'~ll!lJrd! 100 ahlc R1C'lPY !hc i~P~Oli@Ji!!I!IIt1~!11 ~i!i!d ~1iIl:egraln.OJiI of 111](> sYS~)Mi(jS Ofl 1t1J~ scale !lI:I:!i1t Guot'{!ti,tl(i has, dcne.

.s~lm~wha[ :ifil;llla:illl:;ilble

tl',1I1I1{j. (;q!!!!U~.y he~p.'i W bl![uid CIJ,SIDmer .i!JYl!itty" .H.oweWlr. ·GhQi'l:hmo :fll= Ihrcal: 'll' .!ilfimg cumpetiOCifE W]!1i! siinUL1I,l' positio:mi]]gancl aLso from b~;)n(L (ftilllllliillo (e.g, "oheap ims:ge'') as dren:llll:~kel: in

10

Uil::~I~llPl)ll~n~il!l iF'ull!illr~ nel!1:lup!IllieJ!~ ~'IKSiF

Compl=lilllrll ulul,J .i1K'4"1ISrng~yl[!\sc, I~CIilIIDIQgy to' ll!lI~jst :illl t~IeU~ OOii;'lfl f-lfOCesS~

On Gimd1ilmtl'fi; [larl,e:fftriril: ml.lS!collitinIll!!!ily be made 10' oojain md urt~li;oo feed.ha.ck:. from target CU;liIUmer:;;.

A!!TnI~oting mld ret~i!i!iliig good sidf ilii ~glii ,~s: imp.otroi11:.

O~.he~ compe:tum~g woold he likdy H~ ~r}" Ill·eml!lJ!sle GiUKllooil:O ..

N'~eds to contil[lw!liDy I.oOk for fleW ~1:;]j)f£ to Impi'ove .~md. bl!lJu~d .. ul:i: a-d\JIllllilge ilnsiidc ~J!id oo~B](k i~s ~rnlu§tuv,

E.g_,. beficlIlln'lf.kdlag ,9~UnS[ rel1i:i.B~r,~ like The (l~p~ml I.iiz Clm~, \Vh~clil at'€ \'ilen·ikn~~m for t~leu~' uHtcg~,;]tii'J1lJ of rI &yS!I:emtL~ alld dMCi'c:nt Q!JffiltlOllB,.

E!:i;g-ge-8t thre£ltWmtle,S fran] ICp1.lta'ble jikly'CH ill:-A: lhe G~p,

Gio~w~,o :;lh01!l!nd (lo.rlti.nllle willlNe;i;1 ill mrelJglhenung :i~ll bn!!i!d cqll~ !!h_roLl.gh IW3I~'Y ad'i'€rti~im\! md cllreile;l1l tuSitmuer ~er\ii.ce..

'j'.

'1Inll:g w~~:h ~:IlCre;i;!lUng ineomes,

hmllld I);] serve Ilhe higberc'lud scgDru:nt.

Cu:st!l)mN is'erviilCil'; P~Jiliru;:tic cusoto:l1t£X OOl''ii'.iOC:

S~ic~ oti!Nfi~\!itiui] i~ pCrv~ivf::. i~l milllly ~l!f.U!:Ii :;u:;tivlit . .k8,

lR~ruitnllLmt, selection alue! Irniiailag of Sita«. !Errn_ponwerm.~m:l: ,ililld. moli"'a~iOli Q'.i'slaff,

Somewhat .sus>t!l~n~b.le

A setVuce; Cll~rur-e is Olam. §r1I.llOCe ll!f aJ1.'ilillll1iJge [hiilt ro_TiIlpc~rl.w:rs\II:(!llld flnd dtl.ffi,,)ull W c:opy ..

Htm'evcr, GuOOCItl:rIO· ~~ ~lo Cl1:!;'Ilre Ilh81: Ilh~i!l ·tl!I~lUre ~-:UIII be ~i!i!!"!I.iooo "!I3 ill ~ptIllfiids r~p~diy [III ~isitilfiig am:!. nelA' In~rkets, .

0il11eJ: compeliiOl'"S have

ftQ.t yIi!It ,au~lliiDlMH. ~:ofoll{)'W Gi.o.-cillino·§ service i;ltrMc.gy,

. ucatiun

Good, b'lughi [trJiI"fiic Sb'IOJlIling ,illl1~l c!mvell1li,e~:.c: k.tilti~ms:

~.bG[)]ltL-l!J.TI'lQlli !!IQ'o'i' ~ggJressive retaJi~ IOCili.lii,OOi acq!1lis;iJtuoM18

Difficult to ,mLstlJun

G~[)rtlill.uu" fi, :\:~!CIl ,Ire iLu i~)~~l!M OOIHGCm ad,,,,ilill1ilag(l,, limit OOle:J.' oo:!llll,miltotS ceuld also db ~:Ire §limf::.

Cornpe.titorlland! ~ae.w r::a-m~m~ W!U 8Llree-~:!:fi!illy Glll11!l""t~· for gooc4 ~OCatiOl1S

Qu.estiu!! 4.

iCouldGio:rdlmo transfer its key .s!!!''CC(lSS b,eiors: to ne'\\' merkets as ~i: eKpl.lllld~, Iimtlll ln Asia ami tile ~I {:If tile ""'o()fIll'l'

Students could first ~denti[y [IJe factors nl'l<l~ needl. tobe oousid~red! i1SCl~.oro;:!aflo tr.le~ to expand! i~1!001J81ii~1-Jllill}', Aprms~Jb]e :frtJiIT.ICW{!(J)k i~ LovdocJt' ~ $errvitlf::. M<i:1l8;geaflleal!. Trillily, (LDVdotk, 1006, p. 510)1 whieh ckariy comm!i!'!JIi;;,~t':B tnc, i!i!.OTf . .kpcDdb~}~'eofmoo!l'koti:JrJJE;, opc~a~ii0li!8 ili!ilcl l'I!!JimllJMI resources, Therefore, this fflilllll'l~vort: ~ugge.sts dii~.t nmuy of"Giordmw'sli:-ev success ifactor-s. ~1hic[hre&II~red ifrt'Jolal Il'le sound ulltegrJltuOill oifmarl1Y pri:m~lI)' ,a~u:l. Silllfl~ort a.clilfities in it!l valuechain, couldbe lniirns:f~. l:r~ neW'C[)UJllry .mIlil!rkeli}lln A£i<i. lind! bey-am.L A p!l~ib~e evalnatlon O".hn-.: KSf !l.m!! JCGotrulli:rnl!a,t~O!lI_S ofwh~1 G~o.r&JJ~j, sb:otlld deto achievc SIJGCCS!l. is ~.umm!lJizedl.~n E~~]iJb.:iJt 6,

The. ItflnsfiUflbiHliy of key SI!J.Il:;o(leS;S factors m· new m;)~.kets ca!1l~d be (~.8cI!1'sood! i1S ifo.lnows;:

~ De,sign: 'IThe nrg.a~li!i!.il!tiUliI unrltil£!l!'I!l:tll!l!re {i.e, flilt !il[ri!icmJre, gnocl commlW!illic~~iioo, usc· uf IT ,~JJtd C~SmlillC.l" oric:o.!1IJJ:{lJl, e~,} ]"SIcili~"!IJte.s !!be lirau8.1ier oithis .KSf to new mOO"li:ets,

Op0n!iJti.o.ns; logistucs ailad IT: ,],he c01aipne.x:u~i~ of tb'le ope~mions. ~C)gicSI:D.C.:lail.cl IT s,}':!:t·f::.iJT.Is. WO'Illd hlcre8~ lif:. OUDr,rJ~J:lm.l=-X.p.iI!lIldi: ~dr,~pl:uiltiiny, anr.l iltil:uievili11fj; clfica;J;-Y ffild killl 1Jf'QJ;"eS3eS i!fl ilillliC-'1i!!ory !i!Jl!!(n~C!J.t ililild clislr:ihwtuOll!J m<!!)'

heDmllle mme ,rJ)i.lMru.l~, ]t{~w( .. vcr,C,i{]lj)jlino curri::lIlt~y I:J~:!: lihe ·r:<iplibiH[l! ill illi!Jpkw.c'liUmg :systcJJJJs, :mJd i OJ,ly lil.""li\s W fUiic.-crl!!!llle and ~pg1"<Kl'c ~l!. sYSowms 10 deal ~~Jth the local comtJIle~.ity .. To IlfiLUsf5I' thus KSP IDm~w IiI1Mikels. lliie e.x:uSJiung 1'1' ,sySitemalid iil.te£ratuve proi;:;,%S!2S h)e~~if1 the r~lIltchas;lill{g <lIndi. :l.eUIIl.g fiilllc[j,rms Ii:l'llst be U{P"'drr,iiOOJ e,.g" !hHM.!:gh ttilt U;!l~ -Df We'lr--bliiiecl! 11l!1ilni::!. i>}'SI~Illil. 'Wibkibfudli:!~~c rcal-thnc iufill'm.-~Iion flow ~jjj(1 mVer!toIy ~-oJiimli across ,g®Og'.llpl'llic!lD b(mll1idmii~s,

IBimm:Hiilag <l!1l.cl lUarlretung:: Whil~ lihe j)osili.'ilrii:ng o:fCliorLlano's 1x""2lladi shoo!.dI rem~ill C{JO:Il:\:~:wt1ll1: Ol(;rm;~ miir~tfi" the .miirkedng iIT.Iix could he: vaa:ilc.d. m tailor ~Odl~ sp~iflh nmlcI ~'I:l!J.ditlQ!Js .. n.is ~s~"~ diff~cl!!!]~Gi:)!I!.:sidcring CHord<,![i!o's pc,l~cy to ~mll·owe:L' local managers who hillV(!; more (lxpe:L'Eenoc lI1lle! kll1iClwBedge of tile local mar~t. to t1jjj.k:e ~:Ij~~-!~eil:l.e:nratuoill de6!liofls lLke ad ... e~li:;;ung <lindl. ptllJ"[Jll!n~JIl_ Uencr::., ttiJ~!i. KSriJ:lfiY he: rransfcrable m ni::w milrkm~ in A~i~L

However, i~1 m1l"rk.e,Ui ibe)lOOO Ashl, Q[.oJ(i~lfiio faces lliie slraadcn of s~nuai:OO lT~a~:~t~ <Jmd established ooltl'lpe~itotS, some w:iJ1ll1 ,simil:arr r~~tionung e.g .• TIue. G<i[?, ThUf:., it ~;!i mme djf'"fir:I!lJ~1 :f~,.. Oi{!lru~IIlD m difl'trr·enti8IC i!:re~!I' in Ith~f::. m~Jt~18 (e.g,., J~i!ii, ElInJp;;;, !!lld L!!ilin AJiric1'ka). ]Ii! thes~·Ii!II~J'@t.s, Gio~dlM.H..l has ~o rol1is::iooc:u:-emily wllietooL' ~II eanachieve the oooeggal)' ~iJ]m1kei .sliililfe and! ",o~l!Ime to oltit~ilU ecml.Oialie;s oJ scale needed [or 21d.vcrtusi~@. etc. Ncvrohlildl~, !tiltrre j,s .~UII:l.i:: ecwid.cm:c rD :!Iuggi::-SI! lilmt g!DOO~ pre.m::lIli-e ill needed iii! iItl!. ~1IT~pt m~~JtcIs .1I!lld ]Q[ !lhC[J'OOUrit111.IDg G~Jnboo {!'jJe[1ltc.s illJ, Tillis is IlmlHre for V!W);JUI)i' brmiids (e.g .. Gil!Icd ocChall]e.l),. w~]ic~] ci~ly bmdut from. a ~~ol),;][l pmoorl£e <l!~.ll ·eCOill.o.lj~~l'll oJ s,catie .in Imillliii!g [Ileur b~;:li\d! ~iiy t)U ;;I. gnDool nf::.\i'd_

.~

-Cus~mlll~.r seevlce: Tk h:y ~rJ geed customer service lies in its. pl_'ui.~rn:,;;IpLliY, wliiic~l is m~n~f~sred,in various HR poiicti.es e.g, L'OCl~~Jtm!;Il.t and m::lIIi~[i~\[. Tb'ruJS; it :~s.Iikely for Guoocla:rio· ~o lrailas,'I'er ItIIi~s to iaew ll"larr.k:0ts to !llbe e:!:Jte~l tb'la~ il: ~ffiII"ld iIT.IalUtiJ!illl ;!ler'\i'.~r:e "levels byp:r{)\'idi~lg It:3illill.g tD Inta!. §!Ii:f!l', iIID:rI~~m.i.ug pmJ'onnamlc, etc, More i!i!]poJ)t~!lLt~y, M the &:r~Ii~"C G{liP' Modd O"fGlWst.o._TiIl.~r S:3.tusfact~(m ~ugge.st:s, ill sIIIOIi.lJ~d evaliUlLle se:L .... fi,~ e.xp~cinio.ns fmm lliie cl!Isrojfner'~ .r~IM;S[!etlio;,re .~.nlul1:r man ut~ ow~a. alladl.forlflflUlatm. Mi!l:i](!arm atcmdulIIgry, Fm ~]l:!:tIiOOr::.,G~ot:d:;,mo ~lOOt!ild dC",r:.n.~lp a. gtei:lMT 1.Indbr:!iIIi~lJung of !he duffurell11 ,scr'\i'~[c IltOOfi. tl!f it!l inr~miltiunil! C"1!l'SlllJ"[Jtti\ hy g:iI!tu~rung :~~hlitk [l"O"mcl!!lSw._TiIlP.m ~JJd.t:!Jtlltl:l!JlJl, :l~ ~IJ' ii!Jl"C-~!J.!J~ i~ sc!"Vioc· stJU~"@_I·d. ]~ tbooc mlldrets:., Degpitl'l Giord!aii.l.o':;; ~ffQms :~n e:J]S1J[~]]g high quality oo:rvu.~ in 00\>' IT~M~ts" it la'I~.J' f~ce some dliffucll~l)' in r:io1l€~tioilun,g 'u~senl:!~1fI ..'l~ic~Un some countrles -[m1LG~.de ~l!f .IL~ia, Fill ill!il[iinc-e, :1111 [,ii.pilUi :amI. ttilt US" eocp!!r:mri.nus GTI servtcc m" ~cr 1!!~d .~~. .my ~1IIm[)St iim.possibk fUL" GiOKikm9 ro {hf.fe:L'ellt~~leiise~f from dmse comlletiior~. wilil] lli~gJll qual:lty SceI .... U,ore,. This: is UJI (;o~,tras[ la' .Il"ru~h oj' i'Ma_<l!., waj0!e gOi:!d ,s0n'ice as tile e::\cepti.niJr;Jn'le~ ItIJ!WIJ nlue

nrn:if"[I,

1...0C~Ill.00i: G~.o~dam:o co!WM COOiillmil!l,'e toO olbl~fi.l1 pL'i1llilo.'l locat~ClIIIS for~iB I:e,t!l~~ ()J];,'l1)3.t~ClMIl witill uts CI[I[L'HlU1I emil .l1.00rd ..

r:lru c,~n(:JJij~iml!, Gimd1iiJDU may be ~lJle IL'o ~:r,{iIIll!iI:-I!:r rrniiDl!y ;!i[:iilJtre"~ ~]fQmi.~peru!m,'iie nd,'\i8111!ti;!!)C In nc..... !TIiWbts rn A_BiI~., Wi.tl1 its c:m:ph~cis, 00 service, consistem rwM.~OJruiJ!IJ~.; ~.ressiv~. ad'l'e:LiI~&ill\!!:,mclll'rOJi(lotion. and fill1l~.il!IJIlIUIl\!!: oJ UiE ffiI!IJt)mil f!!lln'l:'ti(ms. (e:,g.. irs IT and fiR, f)O:luci~), GiordlllitH} lO'I~yibe ab,~e ro achieve !:ligh volume tllroughl brand ,awateJae&S ami nl'rulS wccood! i.u RtW mari::ms..

EXHiBIT TN·ti~ T':ral1!.Slltwllbi~ity !!i'£ Giord.at11!!l';s Key Sl!Jccess Facters to Nif,W Cmmntl'y [!!!lllll'\\;ets

G~(I'.rdI!i!!O·1O KeJ S~~~ Faclol's {KSW}

I 'f'ra!lSr>er!!!~ilJjty to New C[!1!lIn~L'Y [\.il~ll'lkets

Acli~fi~ r~lI~ 'l!ilIaIL'iilw a S1!ll~cessli'uru T'nuiS!1el" of KSI"

flaSJt tl!lJrr.latO!!Irnll from mall'kel: iruIpUl:t-e, dbign, llUL!JlI[:;!I;:!Urill1lg to diistriby.1~Olll t{!o Ilh(l simps,

Fb[;Il!Fi!i'Cmre 'GoOOCtlmrnIWlJJlJi!:1¥tion Usee of 1"[

Libs[(mi.~ ~n CI!lLslOltilers, and o~rviug !rt:ndlii

lIDc~ease ,1I;1Iow]edge h'Jase ofCi!.I.\mHT.ICI" 'preJ'ereLll!tt';\l, lo-r.M1¥ll.g m!:Qm!!ci9I!!!l :fasl,llio]] o'OOw,. (l[oI:, Cornmam UP~ilil]~ .o:f~T ;!iym:erWi ]![) irJrlpTll'\i'e O!!g:lIl1lliz:;!~iiOli! coordiaation ilIlm! oommuu~.~l1itiOill UJ real ti.l'neall.d across ~]f!;rll!phk.illbound~r.i,c.s" !lJoocj ,dbsig,lii .<:tOO] is ]](\ooGd~Ql' ~CIl] dimincl marteL

OJl~ntotion~ L{~i.sA!il;1'i .:;rild II

Eli:ce.llent managewtil~.t <If ;!iy,~IC;ltis!l and iure,g,rnrinu nr ~ctivi~k..s.

.., Lilkdy

IJwe.mory ImlilD~gemeni ~fldI rn~~£!k-s d~s~!r.ilbmi(Hl lilt"1~S~3 m rompkl!:fu;y. EliOW!lWT. GiaL'<Illi!Jm' s c;}[.l<lJhi.lil)' i~!m;}~lilJgi.rn~ IT &Y&IC-rJri!ic:3rnilc m:ili1~L

Upga.dililg ,m(l, <'Iciftptill1lg ~y&rem£ to the ~r)ecifi~ :n:l>il1ke!. (:~m]!r::.:l1!:c..g" ll:!:i'm'El: web-bassd systc:ll,s for IffilIl tume :unfQillJa.tio:l.1] m.1lil!ilIgemIMDD: ,md o!:umrli[:lI1lfltimlJ.

HijglJJ V()~l!I!i!fte is neededto {IN~.u ~uffident scale ~ll0mi:(\~ to j~8tify J1i(gill :inocU<ln ~ID"'eSJtm.el]t

Om:;~:!:rt:.a;J! ~ilnl]{rnirlg ,iiLlld ~,ustoli1lliil;cd IDlIl'kotiIP..g H".

Hugh <l(l.vet~isuilg aud p.nrJrKl'fUmwlblldgeL

:F:3ntaM:~~~I.I~ln1lJeI" M:;rc'o'i.c-e:

Service aL'km~~IiQ;!i :p.mC\'as~w in m~ny of its ,;)C~jvitle~

Recruin:Iii.IIC;Ult, :relecri,rm & n,~iliin.g (cycle !itl] success) of siaff.

'Emp,o!Arer.lj~telll: and

rulO'!u'!,1,iiti.~m {~f !ilt:iiff.

Good, 111~gh tl'~ffUc .'lIilOI}pJ]lg • <lim:!. ·colili~l]i"'IJCe lOCJit~orus_

Question :5;

71:ilcly

Agg~i .... ~ :3J'\i'e~riii:illJijj; and liml!l!d p:roJJl~l~i01i! is IiI!lCes~ io .ac~ue".e 111(~] von!!lWte; W.ljJUC~1 t~Cterl b~iIDg,s eco]mrJrIDc:'i. of fii';il1~un !!dvCJ~1iB.iin,g OOJcl i!s Q1!hor aelt~"iiies

Underd.ev dDpe.U markets offer ~~rge ~ru~f!(llli;;]!_

Sat!!lra[ed maf1kt:!:!: !J1ld esi'llbi~s.I];oo fJ~ay.ets,

e'i1pbCl11t~DIIll!i nr locolli custO!illC1'S mild :;!(bp! its pertonnance siad:m:lls. etc. a~:l]gly_

GUnootirrm ~IU:Hj~d. a4Jpr iu ]{R r,wgl';[!illIlS tQ ~be skills ami 3Jtitirucies of slaff ill its riiew nlN.-ket::;"

Glo:ocllirlD ~1][mM c~lIItil1l1!1e to sec&: gooo.l~{!!tiiOlil!S and mile a~i1II1Iiil:ge of opp!lmmiriic.s Drl' e:q.lil!lld. in mder 1);] ,iit.I~le'\i'e high V~IWl~ and kooll1!~ moDr~ a~ssilMe in cusiomers,

~ :l:i.kely

The ~f'li~¢!ilos~tmy, HH I)()di.des ad pe:rfo:rlrullmre eV;;]Jlu;atumiJ oom;uSJte.ntiy crulJlha:\:u",e.~ lihe impr!i.l1:iJ!LIltt of pro ... ~,dmi!l ~)!iocllimt l:1J.siomer service,

Gim'd!llilJO hacs. ilile necessery resources and tile (-{mllrilbmi~mcpOt-~Jiil8re f[:>Ot llc¢dcd ro RiXLuliJre good retail sites,

Hew ~Lb )'Qtl tim Gw~{!l!!llo h~d/wQl)M il-!!!"'C ~I) I!Q'!IP! ]~s ml3.Jt~rillg ~ii!d ~lp~J'1I!i~,ms. SID!W~ ami tactics wben enteriblg and l:MlJl~trat~n.g yom country't

Smat1.>,gy is d~ffm'lmi.atedffmm taetics, w~ill ,gJI'em1.>l' e:I11P~~:;::~· oml pi3Jfiln~n.g, foc!l!lSalilg eu !Ollig~c:nn issues alild. lbeilDglililmlreadented. wu~luorg.a:]]iz.at~o®·wi~e .ulT~pacL More UIT~IXltt;])llHy.,. an a!1.;iil=8~rrnt:.a;J!. of ci:!>TCc~]rrnpeH~[!Jci~ ,tlJd ;!i1!l\~l:ii!illlliL'b]e t~]rrnpi!:ririvc ad;\i',iill1.tiige.~, whL'Ch ru:epthtliilT}" ,ool1lSidm!~ii0Jil8 for s~n!wE)' !iorm_ulatitln, is Joql;cil'Q;:J. A'J; ~j1udcd to c.!!j.rlU~r, cor.::· cl~~nt!: oj ,(iU.OOllRC;'S .s~rate,gy sl.tound,ille .llJlllintaill1ledwlilen entel'~n.g ~lJ]y COUlllII),. T~u~is ilile w-ay to ensure ~oollsbtency ill1l service moo, merehandise ,qu.:lIliiY. wl1ii~I]1 s~re.:l]gilileos. brand equity 3JI1d f)ooiIliDTIiIDg; .;)Il.di ]ad.litate.s tile ,;)c~lievelTIellit ma~ketilDg cmlfllililU:llic<lituom oibjlIlcli .... es, hi trni.s. re~tl, Mlt::ilLe,gy dlrruld be seen ,~s I'i~]rrnc:!hing !u remail1li:ntiittill.iiill}. CoolllI:)I_ W.h~t cou~d. be 'cH!~ngotl.!!fC ~hc taetics (If ili!Jp.li~fi!l~~~f1tloo -,wiljd'! ,1U'C discussed sWlbs.::q~JlLtmy,

Tnc Iwodirnll::nsill}:rns. Cl!f ml~mtelillg ,ifmd ~lpc:r,iI!imis.llced, ml:IC ,~sed, !ie[l'ltiLt!(!:~y" r~ WDllWi be (ktrimen~~l to ~gmoJ;"cpot~ti:'l~ diiff~~~DCC'l: ill i.uJ.:p:kmle!lt~t~WJ1 rn various ~QlJDmC3, CVCJJ WliJtJ1Ji~1 Asia, HowevGr, Uiie ~nu~ of :;;tl1tlld!lllrdtizi'Mg or adlilptiriiill iliL> mlilrketiriiil!: ptDglam, ~:o dii(1; iocaJ (omexl isa liflil!tter of df.gl!'ee~;)Ille~ tll!;m lIhe ~.l:!sullilre (Kotl!e~ and Al:ilm,trong. ~. 9·94. [1, 625). The kr:~y d,:;w:rn~i,'ruiI!m:1 ~~ the eonsumcr, who may hiiJ[ .... e s:i.gui:l'kifml di'fffcreJ;JC;~ ill pl'cfcl'ru~~t(;l ..... ards ~~dIJ~t !!!!Jl~l 1ll'QJill)~iQmd miJx, Foe t~ ~!!!5" dU~'l!3Sa.OO ~~: !iIlllY bt;. !J]Sefu~ to ~sk t~ class 10 wark O:iil 1iI]~ OOJjg!!!ilili'le:r pre:D1!.T:eucll8 hi t~ home country aM dus-rugs 1'i()'W OloJ.lXd.!lilao'.sma.rl:airn~ml~ is!llfIu~l:lt be ~eivecl ,;)~ll .:lOOil ,aB ,atlt~ttlWl, fo~ e::Hl:I):~~l~e.. Ym!il'lg.eriCI[lCSlllmeru. un S~:llga~mre fir.flY prel'ct UJ<;lflllillr rnm1ig Knug celebrhies !ite A:o.filJ1l K.'woJ:: and F,1I,yc WoDDg ~'J CJJ!.d.orsc ~hc· '1I1.'~rrci ramer lll!flJlIIl!Isillg £Q?;Ji mi.i~tc!:, wkJ'C:'I~cu&o._1i!J.Crs in TI'miDaud~nc1 PJ1Jiiippi~;0.S. mllY prru~ ilileir own hOJilJe.-grow.~ artistes mme,

~l~lWCC"'ct, il tnay H,~ ~iir .firllO£e ilse:flt!il III C~lnc~nlra!e ~mlhe ,~i:r.n.i1f1r.uli~Il'CIW=ll (:~lillill1td,cs, which W(i(lid !l_HQ>w G~JH.IlOOlt1 W IDIjjjm~ !its co..1iIlp~t~~~Ck-8 more eMily 3!!Jtd bl!l~.M b.r3!~~d aw\ll.l'l'l.U6SS more 1fa.J}~.d]y. 1]1 ~.dduti.on, as services aJre ~]igbl~y t~.ta~glilbl.e, a ~ttoog glooail bl'mocl may o]foot ~hi:;; u]lCeJtaimy by p.rol.'i.d!i.rlf mtr.lg~ritior~arn.d re<i~Sililr-alaGe...Gl.olJal 'Jt'Illa(IU~lg SI'lOlill.d IDe :!:llppnrL'eJ. by c~x1rdimimrxl! m:,mL'C:lillg C~lmmlWlI1Ii.cini~m~ ,iimd ,[jDlI1I!ii:!IIJC:nl Ct1f]XI\ITiILif: design, Nc ... rnhck~!i., wl:i~ ~!, iii. IlCC~:l<ia:y H) ~ii~~~lU ~h:e :rur~i.ci: m 100011. needs, Iihe fo.l.o-wtr ~l~ :Ser\i'.~c-e CQl[1~I;n ClIJJ ~ 'lIiJl~li~d {Lovcll;!>1;',k. l 995,!), :540), Fm ili!5!'I!!I1~", it ~~c~r>~~r 00 1J£'.1iIIJ.db !l illUoh;3il~y staaldi1lfd~zeci core geJ:\I~.ce aJlJgJlaJ(M1Ji:eci by natuolll.!lIny c!I]siOJilJizui, g!JiPp'l~II'.e..utru:y service ,~.e,jn1e;j](S (Lo",do.ck •. 19'516, p, 54·9·580). Gi,ord~n[}c~m dl~r-efore In~imai:i:l its e);.eel~e,ja~ oorV1i.ce :fi1Jli!1l0an:.k l1U0. gDrid qils~i~y iPRKll.K@ 3t'TIl8!l msri::m:l:, wti'lu!e ilt lhe fi.lhfir.e lime 3tppe3.l:i:lI1(l!J: ~IJ' !!h" ktt;:~~ t!!~tc8l'1'.rcfCl'CJJCes !!!!ld speclflc mllJ.Ii:~ ccnditicns (c,~;" offered DKKi.Cs of palf~OO.lu},

WhIW~Q[)'lI1I!ii:'<r~nl gl.£futJ.l brrandlllI1(l!J snmiLi~J he ~Ialb~i:i:b~, .J~l'feremr (iil]rfIlrre.!ifir~y IlDI ,iiS:ki'Ci,ii!e witl] t~ .Ill·odllc~l service or bralnd iii! !lb.e same way,. ~Cll @sigmJ,g the p.rQott.._lc~1 serviceaad Cm'IUlIllJ,]]i,~ating its Immel i:jjmg~ i.t s11.oo~cloo sensi~uzed to eulturat dti:l'f(l~~IlC(lS ill Olm to avoid baufldi2t'1l tll!a1t (J111:l~comp;l!oie.s Ila'l'e Itlnade un the p~Sit F-ru inswnce, wlhe;jl I:ke:;;] entered Nou!h An'li:dL:a.~nI98:5, it largely ignored Ameri.c~.lJ Is:!il:e~ and rrt.lbent.efi, rlIl~!ctJd, ,U! ,~lilI.d ~\) its v~:;:loo of f>Cilliilg ·'~.yp~c!!lly Swedish" procj~rl;:t:'l Whc~CVlZ it vcntl!l.l'e<:J rn .tfu:, wmM, ,;J!)[_lM a result, the ~i:'l. SiDr!>s tblat it op~!>ci irii Nortlii AIlrea:~.~~ bet'i/il~1:l ]9&5 .md. 1900 did, uN I[)ecOIif~ profilllfl;k I~! l<;lA)O\ il ~tat~:ed. a.:ll~rjtil!g~tsme;:rc~jmadis.c mi:~ to the pref~!ces of Amro.cii.u:!i, sm:llb,Y :19')4, Nrn:tlh Aml:rruc31l :l:ii!M !rip~ed Illo MSO million, iilmd Ik'c<'i Cxp'i'm0cJ kI h1l .... iInrg 15 stofl;!·g by 199:5. {Hill !lIID_d J1(!!Jl~, ] ~9S:.p, 243-2~)., Ttus, wh:;!~ GiUKgO collld a~ from Jtll1Ls, is iI'l~! in order to :mll\idlly g;r:bl 1:oru:-kH sblam ,~nc1 br,ge Y01IlIIlillG, Giord<'ll1lo mu.si be careful to OOlasid.\')r ltIalliDlaal a.nd!. ClLlillWrai ,diffe:re:otes ila .SOIr~ ,aspecrrn ·of its; m~d::cldlag mu);:,

'T~ o~1>;Vrt.k~lMl ~IDlJtiCgy shoQ(dclcompl~:nmm m1l:rJl;;"tQ" b~ut i~sfu,;'lIs wOIJIJ 1;..;. ~,m ill:t'Cmif!il oost C!I]tilll:1g ~l1Id ef.flJCi~ey. ,(iilooailizatiorll:}J\~sent:> ,accessibility to c~~per OJ 1:t0tten;eoouroes,. lIIM, Ilu~l:i)i)i' voCllllil~hes. ~~Irl:i:lg to. ecm1.{JoI!li.es (If <!;C;!i]c ;;lj~tI Ihe lcamllll,g CllC'o'~ dfecL MlK-e. impoIil:wml~y, !he .lffiy i0es. i~ !llieilm 8i1lJ 0eve.lup rnllh®r In fin merely IF,fln~fer l"'- ,ifRPJy bO\O!:iJ at' proVC!ll 3tH!~kg"

MR~ gCllcrnl lessons C:'ID be lcamt nnDm G~JKI!o!m.O fb.r I!JJ[Ijor d01lbillg J~~lIli.k:rs iii! }"QlJr OOUl1liIyl

'Jlre :l'lrM and :fcrecJm)~1 lesson ougl11 10 be Iihe way (li[):rcllii.ml firiil!lIllii:H~. III 0ea~.'ilct ,ii l:ii;g,h levd off ~JVicc. To beiiftiii witlJi, !!he ~:QJi(!Pl'!DY'S ie~deJEihitP liIas to rcco,gnilz~. ~h~· • is c.sg.c!rl.t~~~"Eve[l diiG JIIlosi WfJbltlStic~!ed n'.~~null,g pmgralif:l. \'!'on'Jt gUIilr~nt6(l\ the OOst customer servlee, F'eopUe ~re tl'.e .k:ey. Tiley lUateexcII:,ptiona~ .siM"IIice ]~o.ss;ih.lc." 110 anract tl'.edgllJl kind! of people - rc~lpne Who are dedicated rD 'firlilki:lI1r2: Viil:\ir[)firlC~ feel ,SS[i,S:I'lC0·- !he compiiny ,n~~llbe "",illUng W offe.!' ii!~!TPI~t~ ... c rcmunerarlon, Thcr~ is .~ ~~,~!! ·'Whc.l!l )'lD~U IN!lY rcllJ]II~S, J',;.m g-ct MQll~ey~.", B:y of.feJi~~ ~l~~~ve 1:e.:lllUOOrlliu.on, e:nl])loyees <lire Iif:loti"'fil~, 10 siay, thus rod.\irCi:i:1g tile .'l1'ill:ffftlLlmov~~ rate, which is ila:IpOt1i;arnl i~, a:1:1 iml1J~rury where empl,oyme rn~l1.over rcnill!i !.u IDe .nughr, As pau! ~lf ,iI ·~nlil.~1:rrcJ, elTon:, ~. retilu!cr ~lmiLi!J be G[).mn~Ul!ed. III [iw"iiiding OOJIljJfchensa\le !:I!lIiltrui:mr,g snd t~C'ld.up!illC.lll.t. A ~u~uhL~ f~ii!ding W SUPl~k!illC.lll.t the~ k.sSOlil\S ~~mlOO .~~ t~ pal~r bylroJaard A Scbl~",s::inrg\';J.' 1III1d D"MIWS [, HG&kfl.tt (l~']), "Elrooukiriiil!: Ule Cycle nffailIlilril in SII:~vi(Oe.'· :un SJOOti M<II~'arge:rne:jj[ .Revd.ew, Sp~ung, .17·23:, Tnis fearuJ-e. Qf ,~!I~c~:1:fu~ flinl1L~ ~lpc:r,~liillg inthe c.yck Cl!f success ~iS summarized iIlExl:i~!bl~ t',

Clo1ihil]g roeiafi.le:L'S em <'Iil~il ~hhlk of ways i:o,ali.!\gl1le..ui Illl~iIr products. For e~llllIlJ)l.e, G(uordm:1o, u~m;:m:d. its "lm"questimuNlsiked. ;;]j~.d~,Q-lj:n:I0-hmii" e:l:Clli3!j]~e IXi'Hcy, Oi1lh~ n~fl!:on.~ ulltJl!ldb 1ih.~lfiC rel.lllJt:J ~1I DIlCrolllnrmid .ell.i.6ellcy, 8.U0. crefllillg oil slm:ogporn:U!DOJ1lUng ~IU,fll"1lY :fm' tlile oo.!IIp1!i!i!Y ,1I!Jld m: p.rQdw:.;:~s ~i1TIJI!I.@b ~ggressi\I\C .;Jd'i'OItisillg .;JDd pr01i1I"P!Xioog,.

i C;)tleliul SI~.f[ Seluti!.'J1fl

~ Re~!~gtic PiI'IlVU.ewS of Job~~iI. Orgo;lliiizaJtio.l1

• f(IC~I!> on r>.l:;l!TIJfC· ~.Dd Q!J;rulli~y of J(l'b Exp~riCIWCE

~ EmpDD,yreEtnJllJwlliIIIC1Jt 3U0. Lii!nrude

~ iEmpUoyres.' Awarerles8 o:ft~~rRol.llS in Ol.mto:l1t~ S"ihfIDCti.onand. Bcooomic Succe~s • S~QWkccpi~ug mJd fCQ[Joock

SUl!ltl'~; SdiLiesm.ge.l'. Lc:oJi!sJ'{! A. i!/lJ!.odJIII!i1f!CS LL Hes.li:.ct~ W)!)]}, "BfC!l..lk_IDg !:Ll~ Cycle of Fllii.luJre i.u S~"\'ti.us," ,Slf.<aJl! .. Mafo!agt'...!'JW'I!{ ReWFW, Sa)l]riiill, ~)fl.17.:n'l

HilI,Ch{!Ilcs W. 1... f1JJd C'rru-otl] R. Jones 099i8" S,m'legi~; M~\tu!gelJ1i!\til - Aiti 11!cti!gl~1ed Aj"p,r:ti\a(.ir. 4'], ,~dUIn.Ofl, Hiou;glmm Mumin Co ..

KQ(b. !'hlilip ~m' G;Jfj' A;m}s!rong {]~94), FriP1'('ipWs 0/ M()rk~tiP1:g, 6ihGdi~n.o..1i, ~ngl~wC)I)J eMf:>., N.D.,: PreI1l[ice H!lii.

Ll\i'dDt:k, C~J[i~klpncrr lL (](96), Sim>i~,!!:g A'1"u;/w.ting, 3r<1l edition, Uf)f)e.r S;)([I:U.e Ri'\l~r, NJ":

Pa::m:i,ct HaIL

Porter, M:ic.i1:a-'I>i E.. (1979). ~iHow Competitl .... e Fo:r~~ Sl1ll11lW 8I1<1.regy,~ fl!:J/1tIa'" 8'1lstnlJfi,s i?e:Ii'i<2!w. Mardl1.A~'li'il. Vol 57. Iss" 2. [>" 1.3·7"

Porter, Mldl~d E. {l985)\ C(flJ'\P~titil!!e Atl1It!l'!!w,i:e.' Cf'{!cti'lg c!ld S"!~/atniltii1 i},f,lpe,Fi,,1' i"lJrjfJmrmwlJ, N(liw York: .FL'OO Press, Ll.ndO'~I: C{llJ:iel' Macmill;l!lU"

Porter, M.u('n~e~E, (l996), "Wh:3l:i~ $!l1Ilcgy?" IJ'~.n;anf fJl~~iIJ'g.~~ R~l;j~·W', Nov-Dec, VoL 14, b.6, PI' .. 6]-"18.

&1:ulesi:i1$l1:r,Le0l1illXH. A, and. James L HI1:£~tt (.~.9'91). "lBireaku~ Ilhe C~~11: of Failure irnl Sercvict," Sl(lt,m MfI'lJ~li!~'IJ~.tlt ng",j~,,,> Sjprillg, VnL 32, [~" 3, li'-2:lt