INT 220 Business Brief Template-Violet Bass

.docx

School

Southern New Hampshire University *

*We aren’t endorsed by this school

Course

220

Subject

Business

Date

Apr 3, 2024

Type

docx

Pages

8

Uploaded by GrandBoulderCamel32

Report
INT 220 Business Brief Template Course Project Section One: Drivers for Global Entry Country Selection China Purpose of Global Expansion Expanding globally helps local business grow by reaching more customers worldwide. This brings advantages like selling more products, making more money, and reducing risks. When companies go global, they can save money by making things in bigger amounts, hire skilled people from different places, and even team up with other businesses. It also lets them learn new things and use the latest technologies. Being known internationally makes a business stronger and more competitive. While its exciting, companies need to be careful, do research and plan well to succeed in new markets. Business Impacts of Global Business Expanding globally affects many parts of a business. In planning, companies need to think about different countries. Marketing changes to suit diverse customers. Supply chains get more complex, managing how things are made and delivered worldwide. Hiring and working with people from various cultures becomes important in human resources. It’s like playing a bigger game, where every move affects how well the business does. Adopting and planning carefully helps business thrive in the global market.
Societal Impacts of Global Business Global business expansion changes society in many ways. It mixes cultures as people from different places interact. Transportation improves goods to move globally. Jobs are increasing in various regions. Infrastructure like road and building develops in growing markets. However, it also affects the environment, sometimes harming it. So, while global business brings benefits, it is important to manage it wisely for positive impact on culture and employment, Cultural Considerations for Global Business Before going to new countries, businesses must study their cultures. This is crucial for success. Different cultures have unique customs and ways of doing things. Understanding these helps companies make products and messages that people in those places will like. It’s like speaking the same language. Businesses need to know about local tradition, beliefs, religions, and how people buy things. This knowledge guides them in making smart decisions when expanding globally, creating products that fit each culture.
Section Two: Market Profile Cultural Profile Category United States China Commonly Spoken Languages English Mandarin Commonly Practiced Religions Christianity 52.2% of Unaffiliated persons Power Distance Index (PDI) 40 80 Individualism Versus Collectivism (IDV) Highly Individualistic More Collectivism, but individualism is growing Motivation Towards Achievement and Success (MAS) Moderately masculine, valuing achievement and competitiveness Masculine, but balanced with feminine values. Uncertainty Avoidance Index (UAI) Low uncertainty avoidance, embracing change and risk Moderate uncertainty, with a preference for rules and regulations Long-Term Orientation Versus Short-Term Normative Orientation (LTO) Short-term normative orientation Long-term orientation Indulgence Versus Restraint (IVR) Tends towards indulgence, emphasizing personal enjoyment and fulfilling desires. More restrained Political and Economic Profile Category United States China Political System Federal Republic with a Presidential system Single-party socialist republic Current Leaders Joe Biden Xi Jinping Economic Classification Highly developed mixed economy Developing, socialist market Economic Blocs Impacting Trade North American Free Trade Agreement (NAFTA), (United States-Mexico-Canada Agreement (USMCA), Trans- Pacific partnership (TPP), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), World Trade Organization (WTO) Shanghai Cooperation Organization (SCO), Reginal Comprehensive Economic Partnership(RCEP), Belt and Road Initiative(BRI) Gross Domestic Product 26.95 trillion in 2023 $17.52 trillion in 2023
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help