4.A small Canadian company that has developed valuable new medicalproducts using its unique biotechnology know-how is trying todecide how best to serve the European Union market. Its choices aregiven below. The cost of investment in manufacturing facilitieswill be a major one for the Canadian firm, but it is not outsideits reach. If these are the firm's only options, which one wouldyou advise it to choose? Why? 1.Manufacture the products at homeand let foreign sales agents handle marketing. 2.Manufacture theproducts at home and set up a wholly owned subsidiary in Europe tohandle marketing. 3.Enter into an alliance with a large Europeanpharmaceutical firm. The products would be manufactured in Europeby the 50/50 joint venture and marketed by the European firm. Youranswer should be no less than 300 words.
