This assignment is based on a business that you could easily create: a business that teaches individuals in a non-U.S. country (Brazil) to speak English. Although this business is very basic, it still requires the same types of decisions faced by large MNCs. Assume that you live in the UK and invest $100,000 to establish a language school in So Paulo City, Brazil. You set up a small subsidiary in Brazil with an office and an attached classroom that you lease. You hire local individuals in Brazil who can speak English and teach it to others. Your school offers two types of courses: a 1-month structured course in English and a 1-week intensive course for individuals who already know English but want to improve their skills before visiting the UK. You advertise both types of teaching services in local newspapers. All revenue and expenses associated with your business are denominated in Brazilian Real. Your subsidiary sends most of the profits from the business in Brazil to you at the end of each month. Although your expenses are stable, your revenue varies with the number of clients who sign up for the courses in Brazil. Answer the following questions as if you were serving on the board or as a manager of the business. The questions force you to assess the firm's opportunities and exposure and to consider potential strategies that your business might pursue: - Explain how the theory of competitive advantage could justify the existence of your business in Brazil. - Explain the main global economic, financial, and political factors that should be considered before starting your business in Brazil