ZIM Inc. (ZIM) is a high-technology company that develops, designs, and manufactures telecommunications equipment. ZIM was founded in Year 5 by Dr. Alex Zimmer, the former assistant head of research and development at a major telephone company. He and the director of marketing left the company to found ZIM. ZIM has been very successful. Sales reached $8.3 million in its first year and have grown by 80% annually since then. The key to ZIM’s success has been the sophisticated software contained in the equipment it sells.
Required:
Prepare the memo.