1. Identify a sheltered industry -one that has been subject to little penetration either by imports or foreign direct investment. Explain why the industry has escaped internationalization. Explore whether there are opportunities for profitable internationalization within the industry and, if so, the strategy that would offer the best chance of success.

2. According to Michael Porter's Competitive Advantage of Nations, some of the industries where British companies have an international advantage are: advertising, auctioneering of antiques and artwork, distilled alcoholic beverages, hand tools, and chemical preparations for gardening and horticulture. Some of the industries where US companies have an international competitive advantage are: photo film, aircraft and helicopters, computer hardware and software, oilfield services, management consulting, cinema films and TV programs, healthcare products and services, and financial services. For either the UK or the US, use Porter's national diamond framework to explain the observed pattern of international competitive advantage.