Assignment task:
Please provide a thorough explanation. Thank you!
Analysis on the effect of the rule of law and ethics on the economy in Zambia.
1. Zambia and socioeconomic problem. What is the current legal system (civil, common, religious, or mixed)? Describe the influence that colonization had on the formation of the current legal system.
2. As an entrepreneur within Zambia, identify how a product or service like "Energy" can resolve the socioeconomic problem in Zambia. Analyze this product or service through the specific steps of a market screening.
3. Evaluate two international market entry methods for the product or service in Zambia. What are the advantages and disadvantages of each method?
4. Taking into consideration the cultural, societal, and religious values, provide examples of effective and ineffective advertisement practices you would implement to introduce the product or service into Zambia. Explain reasoning.
5. For the product or service line "Energy", recommend at least two legal compliance approaches that should be used by companies when conducting international business in Zambia (e.g., employment law, tax law, advertising law, corporate law).
6. For the product or service like "Energy", provide two key recommendations to consider regarding ethics and social responsibility in Zambia (e.g., intellectual property, competition, corruption).
It can make sense to market "Energy" in Zambia due to several reasons such as high demand. Zambia has a high demand for energy due to its growing population and industrial sector. The country's energy demand is expected to increase in the coming years, making it a viable market for energy companies. Also, due to infrastructure development. The Zambian government is investing in infrastructure development, including energy infrastructure. This creates opportunities for energy companies to participate in these projects. Moreover, Zambia has significant potential for renewable energy, particularly hydro, solar, and biomass. This makes it an attractive market for companies in the renewable energy sector. Additionally, the Zambian government has policies in place to encourage investment in the energy sector, including tax incentives and feed-in tariffs for renewable energy. Lastly, Zambia is strategically located in the Southern African region and can serve as an energy hub, supplying energy to neighboring countries.