2-1 Milestone One

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Apr 3, 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 No matter its size, a company has to grow internationally. Expansion increases revenue for the company since it will have a broader market to offer its items in. Furthermore, the company's expansion can allow it to surpass its competitors. Business Impacts of Global Business The company's global market expansion will increase its clientele, which might lead to better marketing prospects. Businesses may find it easier to build unique and diverse workforces by expanding into international markets. These workforces are essential in today's cutthroat economy. Utilizing the resources and money that are available to the company also helps it. Societal Impacts of Global Business International businesses are greatly impacted by societal, cultural, and business factors. The company is expanding from the United States into Japan, thus it's imperative to understand Japanese business procedures. Every country has its own set of beliefs, customs, and cultural values. Even the most fundamental aspects of international markets, such as greetings, organizational structure, and marketing strategies, must be understood. Cultural Considerations for Global Business Businesses must follow the regulations imposed by society in order to function and carry out their processes. Therefore, it's crucial to find out how Japanese consumers feel about mobile phone covers before entering that market. Section Two: Market Profile Cultural Profile
Understanding Japanese culture is crucial if you want to expand into that market. Although the English language proficiency rate in Japan is just around 30%, it is believed that learning the language might improve one's status in the nation. We will have to prepare for this and ensure that we can have a translator on hand to help with communication throughout our meetings. We also need to make sure that we are aware of and prepared for any other cultural differences that might surface during our discussions. For instance, in Japanese culture, it is customary to prepare ahead and meticulously analyze every step when preparing for anything longer than a quarter or a year. Category United States Japan Commonly Spoken Languages English Japanese Commonly Practiced Religions Christianity Shinto and Buddhism Power Distance Index (PDI) 40 54 Individualism Versus Collectivism (IDV) 90 46 Masculinity Versus Femininity (MAS) 62 95 Uncertainty Avoidance Index (UAI) 46 92 Long-Term Orientation Versus Short-Term Normative Orientation (LTO) 26 88 Indulgence Versus Restraint (IVR) 68 42 Political and Economic Profile Japan and the United States have a long history of trade and commerce. These countries can supply both imports and exports of needed and desired commodities to any of these markets because of the size of these markets. When it comes to Foreign Direct Investments (FDI), the United States and Japan work together; in 2020, FDI was estimated to be worth approximately $132 billion for the former and $648 billion for the latter. Both of these countries have high income levels due to their ranking in the top three economies in the world, which makes them great markets for firms operating in them to import and export. Category United States [Insert Country Selection From Course Project] Political System [Insert information.] [Insert information.] Current Leaders [Insert information.] [Insert information.] Economic Classification [Insert information.] [Insert information.] Economic Blocs Impacting Trade [Insert information.] [Insert information.] Gross Domestic Product [Insert information.] [Insert information.] Purchasing Power Parity [Insert information.] [Insert information.] Gross Domestic Product Per Capita [Insert information.] [Insert information.] 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 [Include any references you cited according to APA format.]
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