1. Why is the informal economy so important? Discuss the legal and ethical issues involved. (use nike company as examples if needed)2. Instructions: From the 6 questions below, please choose 3 questions to answer completely. (use nike company as examples if needed)What five entry modes do firms consider as path to enter the international market? Be specific in your answer.What is a strategic alliance? What are major types of alliances?Distinguish between cost leadership and various differentiation strategies.Describe the advantages of being a first mover, a second mover, or a late mover for a company within your industry.What are the characteristics of product and service quality?Discuss the important reasons why corporations diversify.