5-2 Japan Business Template II

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INT 220

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Feb 20, 2024

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INT 220 Business Brief Template Course Project Directions (This section can be removed prior to submitting this as your final project in Module Seven): Complete this template by replacing the bracketed text with the relevant information. Use evidence from course and outside resources to support your explanations. Be sure to use complete sentences to address each section of the template. You will be working on this template throughout the course, progressing toward the submission of the completed template as your final project in Module Seven. For Milestone One, you will complete Section One of the template; for Milestone Two, you will complete Section Two of the template; and in Modules Six and Seven, you will work to incorporate any feedback received on your prior milestone submissions, as well as work to complete Section Three of the template, before submitting the finalized template for your final project submission. Section One: Drivers for Global Entry Country Selection Japan Purpose of Global Expansion Global expansion has various benefits for organizations, as discussed below. Diversification of Revenue Streams When global expansions become successful, it reduces the reliance on one market to gain revenues; therefore, it mitigates the challenges associated with market-specific fluctuations. As such, diversification boosts financial stability and resilience by ensuring that adverse economic challenges in one region do not affect the overall revenue. Access to Untapped Consumer Bases Accessing international markets is beneficial to tapping into new customers, hence expanding an organization’s reach. Lee and DonHee (2020) stated that accessing diverse customers increases growth and the potential customer base, hence driving sales and market share. Enhanced Brand Recognition Global expansion increases the recognition and visibility of a brand; presence in the international market increases an organization’s global market share and also reinforces brand credibility and competitiveness. Business Impacts of Global Business Strategic Planning Global expansion will require a business to improve its strategies by considering new factors in a global marketplace, such as diverse market conditions, regulations, and competition. Organizations must

ensure that strategies and long-term goals align with the dynamics of international markets to boost responsiveness and agility to challenges and opportunities. Marketing Marketing will require localization to resonate with the diverse customer base, cultural preferences, and market trends. Marketing should tailor campaigns to suit various demographics, boosting effective communication and brand resonance while reflecting an understanding of global values and consumer behaviors. Supply-Chain Management Global expansion needs a robust supply chain system due to increased complexity; El-Baz and Ruel (2020) stated that it reduces uncertainties and boosts efficiency. Effective logistics, planning, and strong global partnerships become vital in navigating international trade. Human Resources A workforce in a global setting brings challenges related to diverse talent pools, cultural differences, and compliance with global labor laws. HR must seek to build a culturally aware and cohesive organizational culture that accommodates workers globally. Risk Management There are new risks in a global environment; they include currency fluctuations, political uncertainties, and market volatility. Therefore, good risk management is needed to anticipate, mitigate, and adapt to these risks to ensure smooth global investment and operation. Societal Impacts of Global Business Cultural Exchange When organizations expand globally, it fosters cultural exchange as products, ideas, and values cross borders. For instance, the popularity of international cuisines reflects a cultural blending, enriching societies with diverse perspectives. Transportation and Connectivity Global expansion results in an exchange of ideas and perspectives, which drives transportation networks and logistics, hence boosting connectivity. For example, efficient international shipping and air travel can be adopted by Japan from other countries, such as the United States. Employment Opportunities Expansion creates new employment opportunities as operations are established globally. In our organization, new workers are required to work in the new phone case stores. For example, tech giants such as Microsoft and Google have created jobs and opportunities globally. Infrastructure Development

Organizations in global markets usually promote infrastructure development locally; for example, foreign investments in developing countries may improve telecommunications and transport, as seen in the case of Chinese investments in African infrastructure projects. Environmental Impact The expansion has environmental effects, such as increased carbon emissions from international transportation. For example, global companies like Amazon are alleged to pollute the environment due to extensive shipping associated with global e-commerce. Cultural Considerations for Global Business Researching cultures helps to understand the different consumer behaviors and preferences; this involves understanding communication styles, social norms, and consumer habits. Also, insights into local attitudes towards technology, family structures, and business etiquette are vital. As stated by Rosário and Raimundo (2021), research about target customers should define their values to determine acceptance and efficiency. A clear cultural understanding helps to tailor marketing strategies to ensure efficiency and respect for successful market penetration and growth. Section Two: Market Profile Cultural Profile [Compare and contrast important cultural elements of your selected market against those in the domestic market, including communication, values and attitudes, cultural dimensions, and so on. You may fill in the chart below in order to use data and statistics to support your comparisons. Note that tables require only words, phrases, and/or numbers, not complete sentences.] Category United States Japan Commonly Spoken Languages The top ten commonly spoken arranged in descending order are English (254 million), Spanish (41.3 million), Chinese (3.405 million), Vietnamese (1.523 million), Arabic (1.391million), French (1.175 million), Korean (1.073 million) Russian (1.045 million), Portuguese (0.937 million), Haitian (0.895 million). (Ward & Batalova, 2023) Japanese- 97.8% (Original Travel, 2019) Commonly Practiced Religions Protestantism (34%) Catholicism (23%) Non-specific Christian (11%) Shinto and Buddhism Power Distance Index (PDI) 40 (Kenton, 2024) 54 (Gelek, 2023)

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Category United States Japan Individualism Versus Collectivism (IDV) 91 (Gelek, 2023) 46 (Gelek, 2023) Motivation Towards Achievement and Success (MAS) Innovation, small business success, and economic growth Work Ethic and Dedication, Education and Continuous Improvement, Corporate Culture and Social Expectations. Uncertainty Avoidance Index (UAI) 46 (Gelek, 2023) 92 (Gelek, 2023) Long-Term Orientation Versus Short-Term Normative Orientation (LTO) 26 (Gelek, 2023) 88 (Gelek, 2023) Indulgence Versus Restraint (IVR) 68 (Gelek, 2023) 42 (Gelek, 2023) Political and Economic Profile [Compare and contrast important political and economic factors for your selected market against those in the domestic market. Factors should include political systems and ideologies, current leaders, economic measures or characteristics used in classification, and government intervention on trade.] Category United States [Insert Country Selection From Course Project] Political System Federal Republic Democracy Current Leaders KISHIDA Fumio: Prime Minister President: Joe Biden Economic Classification A mixed economy- it has characteristics of both capitalism and socialism. East Asian Model (developed/advanced social market economy,) Economic Blocs Impacting Trade Japan-EU Economic Partnership Agreement (JEEPA), Association of Southeast Asian Nations (ASEAN), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), United States-Japan Trade Agreement, and World Trade Organization (WTO) Bilateral Investment Treaties (BITs), World Trade Organization (WTO), Trans-Pacific Partnership (TPP), USMCA (United States- Mexico-Canada Agreement), and North American Free Trade Agreement (NAFTA) It also has free trade agreements in effect with 20 countries. Gross Domestic Product 27.97 thousand (billions of U.S. dollars) 4.29 thousand (billions of U.S. dollars) Purchasing Power Parity 27.97 thousand (billions of U.S. dollars) 6.71 thousand (billions of international dollars) (IMF, 2024) Gross Domestic Product Per Capita $83,062.62 (IMF, 2024) $34,550 (IMF, 2024, Statista, 2022) Legal and Regulatory Profile

[Compare and contrast important legal and regulatory requirements of your selected market against those in the domestic market, including trade restrictions, regulations of products or services, legal processes for business transactions, and important restrictions or documentation.] Section Three: Market Considerations Monetary Considerations [Explain how monetary considerations, such as currency, exchange rates, and exchange-rate management, would impact the organization’s decision to expand into your selected market, using current exchange rates between your selected country and the United States to support your explanations. Complete the table below to support your explanations using current exchange rates.] Category The U.S. Dollar [Insert Country Selection From Course Project’s Currency] Exchange Rate [Insert information.] [Insert information.] Management and Logistics Considerations [Explain management and logistics practices that best address human-resource considerations for your selected market, such as management approaches or staff and labor laws, and their impact on policies and procedures.] Mode of Entry Considerations [Describe advantages and disadvantages for traditional modes of entry that would be most appropriate for entering into your selected market.]

References El Baz, J., & Ruel, S. (2020). Can supply chain risk management practices mitigate the disruption impacts on supply chains’ resilience and robustness? Evidence from an empirical survey in a COVID-19 outbreak era. International Journal of Production Economics , 233 (107972), 107972. https://doi.org/10.1016/j.ijpe.2020.107972 Lee, S. M., & DonHee, L. (2020). “Untact”: a new customer service strategy in the digital age. Service Business , 14 (1), 1–22. https://digitalcommons.unl.edu/cgi/viewcontent.cgi? article=1252&context=managementfacpub Original Travel. (2019). Japan Culture : Language, Religion, Food - Original Travel . Www.originaltravel.co.uk. https://www.originaltravel.co.uk/travel-guide/japan/culture#:~:text=99.2%25%20of %20people%20in%20Japan Rosário, A., & Raimundo, R. (2021). Consumer Marketing Strategy and E-Commerce in the Last Decade: a Literature Review. Journal of Theoretical and Applied Electronic Commerce Research , 16 (7), 3003–3024. mdpi. Retrieved from https://www.mdpi.com/0718-1876/16/7/164 Ward, N., & Batalova, J. (2023). Frequently Requested Statistics on Immigrants and Immigration in the United States . http://www.americacallsitaly.org/emigrazioni/230911%20%20Statistics%20on%20Immigrants %20s.pdf IMF. (2024). Japan Datasets . Imf.org. https://www.imf.org/external/datamapper/profile/JPN

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Statista. (2022). US GDP per capita 2022 | Statistic . Statista; Statista. https://www.statista.com/statistics/263601/gross-domestic-product-gdp-per-capita-in-the- united-states/ Gelek, T. (2023, March). Doing Business with Japanese Government Agencies: Case Studies of Managing and Developing Long-term Business Success . https://www.researchgate.net/profile/Tashi-Gelek/publication/369610439_Doing_Busine ss_with_Japanese_Government_Agencies_Case_Studies_of_Managing_and_Developing _Long-term_Business_Success/links/642461bf66f8522c38e077b7/Doing-Business-with- Japanese-Government-Agencies-Case-Studies-of-Managing-and-Developing-Long-term- Business-Success.pdf Kenton, W. (2024, January). Power-Distance Index (PDI): Definition, How It Works, and Examples . Investopedia. https://www.investopedia.com/terms/p/power-distance-index- pdi.asp#:~:text=The%20U.S.%20has%20a%20PDI,%2C%20direct%2C%20and %20participative.%22

5-2 Japan Business Template II

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