1. Company ProfileThe company we chose for the Emerging Markets course is FamilyMart. FamilyMart is a 24/7 convenience store, which means it is open even on national holidays. FamilyMart offers many varieties of food, drinks, hygiene items, magazines, office supplies and basic medicines. The size of FamilyMart stores varies as they have large and small stores. The smaller stores are more for people who want to buy something small (like a bottle of water), while the larger stores are for grocery shopping. Next to FamilyMart there are convenience stores with a similar concept called 7-Eleven and Lawson, which are their competitors. Their slogan is: "FamilyMart, where you are one of the family", while they want their customers to feel and be treated like family. The company was founded on September 1, 1981 and, as of February 2013, has an estimated number of 22,181 stores worldwide (including franchise stores). FamilyMart has mainly focused in Asia, however in 2005 FamilyMart decided to expand its stores to the United States, while it opened its first store in Los Angeles under the name Famima!! Shortly thereafter they opened 9 stores in the United States. In 2010 they intended to expand with 10 stores, but due to the bad economic situation in the United States, they decided to “freeze” them.2. VRIO Framework by Family Mart VALUABLE? RARE? CONSTANT TO IMITATE? BUSINESS PERFORMANCE No No Yes Consistency above average2.1 Valuable/Rare As was known, FamilyMart is the convenience store that sells all types of goods that meet all the needs of people's daily lives. In this case, the goods that FamilyMart purchases from suppliers are… middle of the paper… the top three nations in the Latin American region in terms of technology and Internet penetration” (STAFF, 2010). Panama has displaced Chile from second place and has grown significantly in the wireless sector.3.5 EnvironmentalPanama has an area of ​​75,517 km² with 2,210 km² of surface water, for a total of 78,200 km². Like the previous states, Panama has 9 provinces which can be seen in the political part and are located in Central America while Panama City is the capital of the country. Panama's environment has a lot to do with its economic success and stability. Of course it is located on the thinnest part of the American continent and has built a canal to take advantage of its position. To further encourage foreign investment and economic development in the country, the government also established the Colon Free Zone, right next to the Panama Canal.