Throughout the month of January 2022, Foster Certificate of International Studies in Business (CISB) students collaborated and competed in the annual Foreign Market Strategy Competition. This year’s competition welcomed Rad Power Bikes, a manufacturer of electric bikes founded in Seattle, WA in 2007. Rad Power Bikes currently operates in the United States, Canada, and the Netherlands.
For the competition, CISB students were asked to create a comprehensive strategy for the international expansion of Rad Power Bikes into an additional country.
After three weeks of research, analysis, collaboration, and preparation, the students conducted their presentations to company representatives. The teams were split up by their respective language tracks, and the presentations were as follows: U.S. Track-Australia, Chinese Track-China, Europe, Middle East and Africa (EMEA) Track-Belgium, Japanese/Korean Track-Japan and Spanish Track-Spain.
Each track brought their own style to their presentation, but they all showed impressive market research, implementation plans, risk mitigation, and more. The Grand Prize was awarded to the Chinese track, Most Original awarded to the Japanese/Korean Track, and Best Presentation Style awarded to the EMEA track. They had the opportunity to meet with and present to the Rad Power Bikes CEO, Mike Radenbaugh, who concluded the meeting with, “Let me know if any of you need jobs!”
Rad Power Bikes deserves a resounding thank you for working with CISB. Specifically, thanks to Sam Christensen, Jim Ransier, and Dave Olstein, who were present throughout the competition process. CISB and its students appreciate and value the opportunity to apply their skills to a real international business scenario, and look forward to seeing Rad Power Bikes continue to expand and succeed internationally.