International financial managmentRequirements: Read the scenario below. Starting on 5th February, and for the following four weeks, questions for your group to consider and research will be released each Friday in the assessment tab on BB.Each week your group should research answers to the questions, and put them together in a portfolio. Once you have answered all the questions, you should produce a 1,500-word report summarizing the position of the business, based on your research for the questions. In addition, each member of the group should submit a 500 word individual piece giving conclusions and recommendations for the future of the business.One final submission should be made per group, which should comprise the following:1. One 1,500 word summary of the position of the business2. One individual 500-word conclusion per group member (each clearly marked with student number).3. Appendices numbered 1 to 5, which should contain the group’s responses to each week’s questions.4. One bibliography/reference list, which should be in UWE Harvard format and should cover the whole submission.The scenario:You are the board of directors of a manufacturing company, Green Battery Technology Systems (GBTS Plc), based in the United Kingdom. Your company manufactures batteries used in the manufacture of various types of electric cars. You supply a number of major car producers worldwide, exporting to Germany, China, and the United States. In January 2015 (a year ago), GBTS set up a joint venture with Beijing Battery Power Technology (BBPT), a relatively small battery producer in China, to develop a new lighter and faster charging lithium battery. The research and development has been done in a small factory near Beijing, with staff supplied equally from GBTS and BBPT. The new battery is now ready for production, and could be produced in either China or the UK, or both, for sale worldwide. Marketing plans and production facilities are under discussion.You have also recently been contacted by a Russian government trade official, who has suggested that tax breaks and other incentives could be available for manufacture of electric cars in Russia, and has offered to broker talks with a Russian car manufacturer which might be interested in developing this market. You could either enter into a supplier agreement with the Russian manufacturer, or a joint venture to manufacture batteries actually in Russia, in which case bigger incentives could be available.FormatAll work should be word processed in 12 point font Arial and double spaced.Please use the following file format: Word.Please ensure that you provide the following details on the first page of your coursework:• Student Number• Module Name and Number• Word CountPlease also ensure that your student number is shown clearly on your individual contribution.Referencing:Please ensure you adhere to the principles of good academic practice and ensure you use the Harvard system to reference your work. Failure to properly reference your work to original source material can be grounds for the assessment offence of plagiarism and may result in failure of the assessment or have more serious implications.1. Explain how the factors that affect international trade flows could affect the demand in Russia and China for your batteries. What other factors would affect the demand for the batteries in these countries?2. Suppose it appears that the Russian government is likely to impose a tariff on batteries exported to Russia, discuss how could you still exploit the Russian business opportunity while avoiding the tariff.3. Explain how your business would have been affected by the 2015 China stock market crash and the government’s reaction to it.