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d271 - ch4.1 - med

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According to the passage, what is one of the key innovation practices that companies should put at the heart of their strategy when operating in Africa?

Create products and services tailored to African consumers' needs and preferences

How did Tolaram adapt its Indomie noodle product for the African market?

They added local spices to appeal to West African palates

Which company is mentioned as developing an innovation to address the need for affordable housing in Africa?

LafargeHolcim

What is one way that Tecno has tailored its smartphones for African customers?

By including photo software designed to better capture darker skin tones

According to the passage, which of the following statements is true regarding companies reporting rapid growth and high profitability in Africa?

They prioritize launching new products or adapting existing ones to African consumers' needs

What is the purpose of the Affordable Housing Hub initiative mentioned in the passage?

To pioneer homebuilding and financing innovations in various African countries

Which of the following statements about Tolaram's innovation strategy is NOT supported by the passage?

They focus solely on developing packaged versions of traditional African snacks

According to the passage, what is one way that LafargeHolcim's innovation in brick-making helps address the need for affordable housing?

It reduces the cost of building a house by 20 to 40 percent

Which of the following statements about Equity Bank is true, based on the information provided in the passage?

It is mentioned as an example of a company that has driven constant, systematic innovation in Africa

According to the passage, what is one way that companies can 'get lean to drive down cost and price points' in Africa, as suggested in the four key innovation practices?

Utilize technology to streamline operations and reduce overhead costs

What was the initial reaction of Nigerians to Indomie noodles?

They thought it was worms

What was the primary purpose of Equity Bank, according to the CEO?

To solve the lack of access to financial services

What was the minimum opening balance required by banks in Kenya at the time Equity Bank was founded?

Equivalent to a few years' earnings

What was Equity Bank's innovative 'mobile banking' approach before cell phone-based banking?

Delivering banking services through mini bank branches in Land Rovers

What was Equity Bank's best-known innovation?

Agency banking model with retail outlets

What additional services did Equity Bank add to its Equitel cell phone banking application by 2017?

Insurance and brokerage services

What was the key challenge SecurelD faced in getting certified by major credit card companies?

Overcoming Nigeria's reputation for fraud

What was one of the key investments SecurelD made to ensure their manufacturing plant met international standards?

All of the above

What was the key factor that enabled SecurelD to become a major supplier of smartcards in Africa?

The rapid growth of banking and card usage across sub-Saharan Africa

What was the main reason Tecno was able to gain a significant market share in East African smartphone markets?

Its introduction of a keyboard in the local Amharic language

What was the purpose of Kellogg's investment in Tolaram Africa?

To gain access to Tolaram Africa's successful distribution network in West Africa

What is remarkable about Tolaram Africa's Indomie brand of instant noodles?

It is a low-cost product that enjoys widespread popularity and brand recognition

What does the passage suggest about the potential of the West African market?

It is a rapidly growing market with significant potential for consumer products companies

Which of the following statements best describes Kellogg's strategy with its investment in Tolaram Africa?

Kellogg seeks to establish a long-term partnership with Tolaram Africa to tap into the region's growth potential

Based on the information provided, what can be inferred about Tolaram Africa's operations?

It has a strong presence in the West African region, particularly in Nigeria

Learn about Kellogg's business model innovation through their $450 million investment in Tolaram Africa, a Nigerian-based company. Understand the strategic partnership and acquisition of a 50 percent stake in Tolaram's West African sales and distribution company.

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