Multinational and local food manufacturing is one of the fastest-growing industries around the global food markets. The current study aimed to explore the improvement framework of both multinational and national food manufacturing companies of Pakistan. This present qualitative study employed a phenomenological research design to explore the phenomena in-depth. The interview protocol was developed to collect the data. A convenient sampling technique was used to draw a sample of the study where three respondents were selected from multinational and three from local manufacturers. Data were qualitatively analyzed to identify significant themes. The key finding of the study was that the multinational companies engaged in food manufacturing and catering services in Pakistan are having a comparatively better management system. The current study also revealed that local organizations still need an update in their system as their efforts are not up to the mark. The study further recommends that there is a dire need to update customer response management system at national level organizations.

This study looks into the potential effect of foreign exchange exposure elasticity (FEEE) on the financial distress of non-financial firms from an emerging country (Pakistan) and a developed country (USA) during 2003-2015. It employs mixed methodology in which a comprehensive quantitative analysis is made from the panel data of the sample companies from both countries (Pakistan and USA). Subsequently, views of Chief Finance Officers (CFOs) of different companies are given. Results show that the effect of foreign exchange exposure is not statistically significant on the financial distress of Pakistani firms at contemporaneous level but it has positive significant effect at lagged level. Results also show that at gross exposure level, foreign exchange exposure of US manufacturing firms has a significantly positive effect on their financial distress contemporaneously but not at net market level. In case of US non-manufacturing firms, the foreign exchange exposure elasticity does not impact significantly on the Z-Score at gross exposure level. But the market model shows a weak significant effect of the FE Exposure on the distress of such firms in USA at relatively higher significance level. The firms fundamental attributes except foreign sales exhibit a significant effect on the financial distress. Only debt has negative coefficient which describes a positive effect on the financial distress. The findings have notable implications for the financial stability of the firms, especially in Pakistan.