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Please provide a summary of the information given below.

Please provide a summary of the information given below.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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7:33 3 all 100% .:: CHAPTER I7 Global Manufacturing and Supply-Chain Management The N200's brightness is 13.5 lumens on high illumination and 8 lumens on low illumina- tion. The duration of light is 6 to 8 hours on one day's charge or 12 to 16 hours on two days' charge on the low light setting. For the high light setting, the light duration is 2.5 hours on one day's charge and 5 hours on two days' charge. While the brightness is not the same as traditional LED lighting, the N200's brightness is five times brighter than that of a kerosene lantern. The N200 is shatter- and rain-proof and built to last for five years. Nokero sells the N200 in large quantity orders (e.g., over 1,000 light bulbs) for about $6.00 (FOB China). Sample sales are priced between $15 and $20 (depending on shipping costs). Building a Born-Global Company A few weeks after developing the N100, Katsaros worked on Nokero's business model, package design, pricing, and manufacturing and distribution processes. In April 2010, he formed Nokero International Ltd., the operating company of Nokero. The speed by which Nokero developed and manufactured the N100 and formed the business entity could be attributed to Katsaros' experience as an inventor and entrepreneur. He had previously licensed inventions to sports companies, such as Dynastar Skis, K2, and HaberVision, and built RevoPower, a motorized wheel for bicycles that gets 200 miles per gallon at 20 miles per hour. A BS Mechanical Engineering graduate from Purdue University, a Bard Center for Entrepreneurship certificate graduate recipient at the University of Colorado Denver, and a B.F. Goodrich Collegiate Inventors awardee, Katsaros is a patent agent reg- istered with the U.S. Patent Office and Trademark Office, which has issued him several pat- ents for his previous inventions. From the start, Nokero was a born-global company with customers in different parts of the world, and co-owners and supplier partners in Hong Kong and China. Katsaros part- nered with three Hong Kong-based entrepreneurs to form Nokero International Ltd. in Hong Kong. These partners, associates of Katsaros in previous businesses, provided start-up cap- ital that represented a minority equity interest in Nokero and helped Katsaros find a strong and reliable factory supplier in China. Nokero also leveraged the HK partners' connections with the factory supplier to secure a trade financing line from the supplier. The HK partners manage Nokero's operations, including overseeing the supplier factory in China, filling large orders directly from the factory, maintaining an outsourced fulfillment center in Shenzhen, China, to supply small and sample sales from all over the world, and managing the com- pany's supply chain. Nokero's Chinese supplier is an established factory that has significant experience and scale in consumer electronics. In solar-powered consumer electronic products alone, the supplier produces more than 30 million pieces of solar products every year. The supplier's clients include Walmart, Home Depot, Lowes, and other major retail customers in the United States and Europe. Nokero maintains its headquarters in Denver, Colorado, where the company oversees sales and marketing, business development, web-based sales, and overall administration of the business. To help him start and grow the business, Katsaros brought two of his closest associates, Evan Husney, who serves as General Counsel and the person respon- sible for business development, large orders, and the establishment of Nokero's dealer network, as well as Tom Boyd, who manages the company's corporate and marketing communications. Creating Groundswell Support Widespread and favorable coverage by traditional and social media outlets has been instru- mental in getting the Nokero story out to as many people as possible. A key moment came with a six-minute daytime television segment featuring Katsaros and Nokero with Ali Velshi on the CNN show The Big Eye. Not only did the coverage reach a global audience, it helped legitimize Nokero to those who were interested in solar lighting in general and Nokero's products in particular. II
Transcribed Image Text:7:33 3 all 100% .:: CHAPTER I7 Global Manufacturing and Supply-Chain Management The N200's brightness is 13.5 lumens on high illumination and 8 lumens on low illumina- tion. The duration of light is 6 to 8 hours on one day's charge or 12 to 16 hours on two days' charge on the low light setting. For the high light setting, the light duration is 2.5 hours on one day's charge and 5 hours on two days' charge. While the brightness is not the same as traditional LED lighting, the N200's brightness is five times brighter than that of a kerosene lantern. The N200 is shatter- and rain-proof and built to last for five years. Nokero sells the N200 in large quantity orders (e.g., over 1,000 light bulbs) for about $6.00 (FOB China). Sample sales are priced between $15 and $20 (depending on shipping costs). Building a Born-Global Company A few weeks after developing the N100, Katsaros worked on Nokero's business model, package design, pricing, and manufacturing and distribution processes. In April 2010, he formed Nokero International Ltd., the operating company of Nokero. The speed by which Nokero developed and manufactured the N100 and formed the business entity could be attributed to Katsaros' experience as an inventor and entrepreneur. He had previously licensed inventions to sports companies, such as Dynastar Skis, K2, and HaberVision, and built RevoPower, a motorized wheel for bicycles that gets 200 miles per gallon at 20 miles per hour. A BS Mechanical Engineering graduate from Purdue University, a Bard Center for Entrepreneurship certificate graduate recipient at the University of Colorado Denver, and a B.F. Goodrich Collegiate Inventors awardee, Katsaros is a patent agent reg- istered with the U.S. Patent Office and Trademark Office, which has issued him several pat- ents for his previous inventions. From the start, Nokero was a born-global company with customers in different parts of the world, and co-owners and supplier partners in Hong Kong and China. Katsaros part- nered with three Hong Kong-based entrepreneurs to form Nokero International Ltd. in Hong Kong. These partners, associates of Katsaros in previous businesses, provided start-up cap- ital that represented a minority equity interest in Nokero and helped Katsaros find a strong and reliable factory supplier in China. Nokero also leveraged the HK partners' connections with the factory supplier to secure a trade financing line from the supplier. The HK partners manage Nokero's operations, including overseeing the supplier factory in China, filling large orders directly from the factory, maintaining an outsourced fulfillment center in Shenzhen, China, to supply small and sample sales from all over the world, and managing the com- pany's supply chain. Nokero's Chinese supplier is an established factory that has significant experience and scale in consumer electronics. In solar-powered consumer electronic products alone, the supplier produces more than 30 million pieces of solar products every year. The supplier's clients include Walmart, Home Depot, Lowes, and other major retail customers in the United States and Europe. Nokero maintains its headquarters in Denver, Colorado, where the company oversees sales and marketing, business development, web-based sales, and overall administration of the business. To help him start and grow the business, Katsaros brought two of his closest associates, Evan Husney, who serves as General Counsel and the person respon- sible for business development, large orders, and the establishment of Nokero's dealer network, as well as Tom Boyd, who manages the company's corporate and marketing communications. Creating Groundswell Support Widespread and favorable coverage by traditional and social media outlets has been instru- mental in getting the Nokero story out to as many people as possible. A key moment came with a six-minute daytime television segment featuring Katsaros and Nokero with Ali Velshi on the CNN show The Big Eye. Not only did the coverage reach a global audience, it helped legitimize Nokero to those who were interested in solar lighting in general and Nokero's products in particular. II
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