INT 220 Business Brief Template

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Jan 9, 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 The country I have selected for the final project is, China. Purpose of Global Expansion Multiple key benefits come from international business expansion; foreign investment opportunity exposure, access to greater talent, ability to provide help to more people, an improvement in reputation, allowing room for growth and diversity. What are the 7 Benefits of Going Global explains, “… globalization can bring your organization many benefits including a wider base of customers” (2022, March 22). Although the organization is not losing money, a wider base of customers will possibly lead to an increase of sales in both the domestic and international market. Business Impacts of Global Business Global expansion of a domestic organization can impact a business in a positive and negative way. There are many factors that need to be taken into consideration before doing so. Needs of customers must be evaluated, culture differences, the economic condition of the market, as well as competition, and pricing. As stated in Differences in Strategic Planning for Domestic… “ …strategies must consider the organization structure between the two countries and the ethnic makeup” (Ingram, 2016). With this situation the company needs to figure out another marketing strategy to fit the necessities of China and plan to reevaluate strategic planning for the market in which it is expanding to. Societal Impacts of Global Business Globalization within organizations has had a huge impact on society. Cultural diversity has increased now that individuals from across the world have been brought to work in one workplace. There is now an increased understanding of different cultural and tolerances. Transportation has also been impacted by organizational globalization. Individuals are now able to travel more efficiently to other countries and regions around the world. With more efficient travel, there has been an increase in jobs. Stated in Effects of Globalization on the Environment, “ Efficient transportation systems ensures accessibility to education and healthcare services” (Stobierski, 2021). There are also negative impacts of globalization
like the difference in income between two people with the same qualifications but different ethnic groups. Unfortunately, “…this can lead to an increase of societal violence” (Stobierski, 2021). Cultural Considerations for Global Business The importance of researching the culture of a potential global market before market entry, is to understand the cultural differences between the two markets. Stated in 8 Reasons why Companies need to Research… “It requires more investment and regardless of challenges involved, international market research is unavoidable” (Shaw, 2022). Reviewing the laws and regulations and see what is different, as well as mitigating potential risk can be beneficial to a company to avoid any unnecessary conflict or decrease in sales. 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 [Insert Country Selection From Course Project] Commonly Spoken Languages [Insert information.] [Insert information.] Commonly Practiced Religions [Insert information.] [Insert information.] Power Distance Index (PDI) [Insert information.] [Insert information.] Individualism Versus Collectivism (IDV) [Insert information.] [Insert information.] Masculinity Versus Femininity (MAS) [Insert information.] [Insert information.] Uncertainty Avoidance Index (UAI) [Insert information.] [Insert information.] Long-Term Orientation Versus Short-Term Normative Orientation (LTO) [Insert information.] [Insert information.] Indulgence Versus Restraint (IVR) [Insert information.] [Insert information.] 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 [Insert information.] [Insert information.] Current Leaders [Insert information.] [Insert information.] Economic Classification [Insert information.] [Insert information.]
Category United States [Insert Country Selection From Course Project] 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 Ingram, D. (2016, October 26). Differences in strategic planning for Domestic & International Companies . Small Business - Chron.com. Retrieved January 12, 2023, from https://smallbusiness.chron.com/differences-strategic-planning-domestic-international- companies-11594.html Shaw, J. (2022, January 13). 8 reasons why companies need to research their international markets . Kadence. Retrieved January 12, 2023, from https://kadence.com/8-reasons-why- companies-need-to-research-their-international-markets/
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Stobierski, T. (2021, April 15). Effects of globalization on the environment . Business Insights Blog. Retrieved January 12, 2023, from https://online.hbs.edu/blog/post/globalization- effects-on-environment What are the 7 benefits of going global . Dynamic Language. (2022, March 22). Retrieved January 6, 2023, from https://www.dynamiclanguage.com/what-are-the-7-benefits-of- going-global/

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