Business Finance
Importance Of The Informal Economy In Developing World

Question Description

1. Why is the informal economy so important? Discuss the legal and ethical issues involved. (use nike company as examples if needed)

2. Instructions: From the 6 questions below, please choose 3 questions to answer completely. (use nike company as examples if needed)

  1. What five entry modes do firms consider as path to enter the international market? Be specific in your answer.
  2. What is a strategic alliance? What are major types of alliances?
  3. Distinguish between cost leadership and various differentiation strategies.
  4. Describe the advantages of being a first mover, a second mover, or a late mover for a company within your industry.
  5. What are the characteristics of product and service quality?
  6. Discuss the important reasons why corporations diversify.

Final Answer

Attached is the complete work along with its outline. Please feel free to ask for any corrections or clarifications. Thank you!😊

Surname 1
March 30, 2019
Journal assignment
Journal 1
The informal economy describes the diverse income-generating activities, businesses and
jobs that are owned individually and are not controlled by the state. In other words, the informal
economy is the domain of self-employment in small groups that have not been registered. This
includes wage employment in unsecured jobs. Many people characterize informal economy as
illegal or underground but this is not the case. This kind of economy is composed of a group of
people who are striving to make an honest living in the best ways they know how to. However,
the fact that they do not pay tax paints a bad picture of this economy.
This type of economy has provided uncountable employment opportunities for several
individuals in different countries. It is not possible for every individual to secure a good job but it
is important that other individuals find their way around the scarcity of jobs and identify an
appropriate and honest way to make a living. Such jobs availed by the informal economy
include: taxi drivers, green grocers, barbers and the restaurant businesses. These jobs are not
controlled by the government or state. They operate independently by their own terms. Informal
economy jobs are not taxed. Most of the people in the informal sector are women. In SubSaharan Africa, the men are considered the heads of the family. Most of the time, these men find

Surname 2
work at formal economies. However, the women sometimes go out looking for some extra cash
because what the husband is getting might be too little. This is how they always end up in the
informal economy.
The provision of jobs by the informal econ...

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