Case: Goodbaby: How a Chinese underdog became a world leader through open innovation, 2021 (please apply this reading attached and the readings referenced below on market creation and development)***The ONE question that needs to be responded to for this project*** (ONE PAGE RESPONSE NEEDED): 1. Why has Goodbaby been successful?References (ONLY use these four references attached):Goodbaby: How a Chinese underdog became a world leader through open innovation, 2021 (please apply this reading attached and the readings referenced below on market creation and development)Managing expansion – market creationReading:The CEO of Bayt.com on building an internet culture where there is none, Harvard Business Review, 2019; https://hbr.org/2019/11/the-ceo-of-bayt-com-on-building-an-internet-culture-where-there-is-no-internetCracking frontier markets, Harvard Business Review, Jan 2019; https://hbr.org/2019/01/cracking-frontier-marketsRight up the middle: How Israeli firms go global, Harvard Business Review, 2014; https://hbr.org/2014/05/right-up-the-middle-how-israeli-firms-go-globalCASE ANALYSIS1. Application of reading concepts and frameworks to the case2. Rigor of case analysis3. Specific recommendations supported by well thought out arguments and financial4. evaluation5. Quality, professionalism and clarity of writing and presentation6. Your analysis must address question assigned.7. Apply the theoretical concepts and frameworks from the readings associated with thesession topic or as specified for the case (You must apply readings from multiple sessions,for e.g., this is noted for GoodBaby).8. Response should be evaluated based on the information in the case. Do not do researchbeyond the scope of the case provided. Your assignment is to make recommendationsat the time the case ends. In making recommendations do not consider any events thatoccurred after the end of the case.9. These assignments are limited to ONE page of discussion (essay style, double spaced, 12pt font) and points will be deducted for not following guidelines. The case commentaryshould not be a summary of the case or a list of issues.10. In addition to the response, the inclusion of exhibits and tables isstrongly recommended and permitted. Consider using tables (for e.g., showingadvantages and disadvantages) and number crunching (where applicable) to support yourdiscussion. You may use as many exhibits and tables as necessary, but they should bereferred to in the response.11. Provide strong support for your recommendations. Make sure that your logic is clear andthat your recommendations address the issues raised by the questions. The purpose ofcase is to understand issues. There are no right answers, only good arguments and weakarguments supporting recommendations.12. Write clearly. Grammar counts. Spelling counts. Writing style counts.Talking Points that may help with the one-page response:• Right up the middle: How did Goodbaby go global?• What are the challenges Goodbaby faced?• How did Goodbaby select its market?• Evaluate the globalization strategies adopted by Goodbaby• What factors should firms consider when venturing into this industry?• Cracking frontier markets• How is market creating innovation different from the conventional view on development?• What are the characteristics of market creating innovation?• How was Goodbaby created and what was the growth strategy?• How do market creating innovations pull resources and facilitate institutional development?• How can companies engage in market creating innovation?• What were the challenges that were faced when founding Goodbaby?• How did Goodbaby transform the challenges to opportunity?• What elements and aspects of market creating innovation are relevant to the Goodbaby case?• How do Goodbaby’s actions align with or differ from other Chinese firms?
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