5-2 Japan Business Template II

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Southern New Hampshire University *

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INT 220

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Business

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Feb 20, 2024

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docx

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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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