The led installed inside the bulb successfully bearing the heat
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Due Date
Journey Until Now
Nokero, until now, has received immense success by selling 150,000 solar lights in around 90 countries. Since they have integrated their business goal and their social responsibility, they received the attention of many philanthropists. They were identified as making a tremendous positive impact on many people's lives by providing an eco-friendly, affordable, and safe lighting bulb. As of now, Nokero has adopted an "opportunistic sales approach." They have targeted markets in Ghana, South Africa, Fiji, Mexico, India, Nigeria, Vanuatu, Haiti, Kenya, and other markets. In Latin America, Nokero has signed an agreement with Westinghouse Lighting Corporation for the distribution of its solar lights. Since the aim of Nokero is to reach the customers residing in countries that still do not have enough budget to buy electricity and the remotest area, therefore, expanding to Barbados is a great idea; however, before they actually expand, there are certain things that Nokero should have an in-depth understanding. For example, as mentioned in the case study, there are issues with the supply chain. They need to evaluate how they can cater to different markets and customer segments that are geographically dispersed. They also need to cut down on their distribution cost so that they can still keep their product affordable.
Social- It is evident that there is a vast difference in the social and economic status of North America and South America. The income of people living in Barbados comes under the middle-income category. This implies that people may not be able to buy an expensive product, so the business investors have to provide affordable products if they really want to attract people and build a vast customer base. Additionally, the estimated population of Barbados is less than three lakhs (Heritage, 2021).
Technological- The Information and Communication sector in Barbados is growing rapidly and has a lot of potential due to foreign direct investments. They have modern telecommunication systems along with up-to-date digital technology. Barbados is providing excellent software development and Information Technology services (Callaghan, 2017). This means Barbados has no less than superior technology.
The strengths of Nokero are Patented technology, innovation, the strategic location of headquarter, sustainability. The weakness of Nokero is its supply chain problems and integrating social goals (sustainability) with a business goal (earn profit). Opportunities of Nokero are untapped markets in developing nations, association with NGOs and similar agencies for further growth, devising methods for utilizing natural resources for reducing carbon footprints. Threats of Nokero are long-term sustainability, competition from private players like Philips Lighting, Brinkman, Westinghouse, Coleman Cable, Eglo, D. light, Himin Solar, Shenzhen Jiawei Solar Lighting, Nbsolar etc.
Business Strategy
Fig.1: Nokero Supply Chain representation
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