Milestone two

docx

School

Southern New Hampshire University *

*We aren’t endorsed by this school

Course

220

Subject

Computer Science

Date

Dec 6, 2023

Type

docx

Pages

Uploaded by DrValor12533

INT 220 Business Brief Template Course Project Section One: Drivers for Global Entry Country Selection Japan Purpose of Global Expansion According to Global Expansion: 5 Benefits of Expanding Your Business Internationally, talent acquisition, cost reduction, business resilience, growth opportunities, and tax and compliance benefits are the 5 benefits of expanding your business globally (Donnelly, 2023). You will be able to hire people from the new area who are a good fit for the company. You will be able to research material and labor costs in the new region. This could mean a reduction in cost. Having companies based in different countries means that events won't affect all businesses. If an event happens in the United States, it will affect the company in the United States but not the one in Japan. Expanding globally also makes it possible for a company to reach a completely different customer base. The last benefit is the different taxes and business laws. Different countries have different tax rates and different laws. If you do your research, you can make sure that all of this gives you an advantage when expanding globally. Business Impacts of Global Business There are many different impacts of global business. Global business can impact the talent and knowledge of the employees hired, reduce the cost of labor, materials, and taxes, and also create a new and bigger customer base. Societal Impacts of Global Business The impact that a business has on society can be huge. A new company can mean new jobs for unemployed people and products that are in need but hard to get. Creating new jobs will also help the economy. Cultural Considerations for Global Business When expanding globally you have to consider culture. In Japanese culture people do not shake hands like we do in The United States, they bow. “ A bow can vary from a small nod of the head to a bend at the waist. A deeper, longer bow indicates respect whilst a small nod with the head is more casual and informal” (Twose, 2021). So, if you go into a meeting in Japan and try to shake their hand, they may think you are disrespectful and not want to do business with you. Not knowing the culture of the country that you have opened your business in can make it fail very quickly. Section Two: Market Profile Cultural Profile There are many differences in culture between the United States and Japan. Americans tend to be blunter, and Japanese tend to be for subtle. Also, Americans are more self-motivated and worried about the individual, Japanese are more group based. Japanese will do what is right for the group and try to make things as easy as they can four their supervisors. Something else that might pose a problem is the language barrier. English is not used in Japan so the company will have to look for people that are fluent

in both languages to make sure communication is accurate. Another difference is the work attire. Japanese wear black suits and ties to work compared to Americans which wear suits and ties, dresses, slacks, and nice shirts. “Japanese coworkers also often hang out as a group after work” (Merchant, 2018). This helps provide a more friendly workplace. Category United States Japanese Commonly Spoken Languages English Japanese Commonly Practiced Religions Christian Shinto and Buddhism Power Distance Index (PDI) 40 54 Individualism Versus Collectivism (IDV) 91 42 Masculinity Versus Femininity (MAS) 62 95 Uncertainty Avoidance Index (UAI) 46 92 Long-Term Orientation Versus Short-Term Normative Orientation (LTO) 26 80 Indulgence Versus Restraint (IVR) 68 42 Political and Economic Profile In the US we have a federal republic political system. We have a president that is Joe Biden and a vie president that is Kamala Harris. We have a mixed economic classification because we have a low, middle and high class of income. We also have a lot of trade agreements with many different countries. When it comes to the Japanese the have a democracy political system. They have a prime minister, and his name is Fumio Kishida. They have a high economic classification. “Japan is one of the largest and most developed economies in the world. It has a well-educated, industrious workforce and its large, affluent population makes it one of the world’s biggest consumer markets” (AsialinkBusiness). Category United States Japan Political System Federal Republic Democracy Current Leaders President Joe Biden Vice President Kamala Harris Fumio Kishida Economic Classification Mixed High

Category United States Japan Economic Blocs Impacting Trade Australia Free Trade Agreement (AUFTA) Bahrain Free Trade Agreement (BHFTA) Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) Chile Free Trade Agreement (CLFTA) Colombia Trade Promotion Agreement (COTPA) Israel Free Trade Agreement (ILFTA) Jordan Free Trade Agreement (JOFTA) Korea Free Trade Agreement (KORUS) Morocco Free Trade Agreement (MAFTA) North American Free Trade Agreement (NAFTA) Oman Free Trade Agreement (OMFTA) Panama Trade Promotion Agreement (PATPA) Peru Trade Promotion Agreement (PETPA) Singapore Free Trade Agreement (SGFTA) U.S. – Mexico – Canada Agreement (USMCA) Japan Trade Agreement (USJTA) ASEAN Gross Domestic Product 25462.70 US Billion 5,396,818,536,178 Trillion Purchasing Power Parity 1.0 97.573 Gross Domestic Product Per Capita 76,398.6 33815.3 Legal and Regulatory Profile “The U.S.-Japan Trade Agreement (USJTA) entered into force on January 1, 2020. In this agreement, Japan committed to provide substantial market access for the United States by phasing out most tariffs, enacting meaningful tariff reductions, or allowing a specific quantity of imports at a lower duty. Once USJTA is fully implemented, nearly 90 percent of U.S. food and agricultural products imported into Japan will be duty free or receive preferential tariff access” (Japan Trade Agreement). Having the USJTA is a very useful tool when importing anything from the US to Japan. This will lower the cost to ship items into Japan making our product cost lower and our profits higher.

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

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 AsialinkBusiness. (n.d.). Japan’s economy . Asialink Business. https://asialinkbusiness.com.au/japan/getting-started-in-japan/japans-economy? doNothing=1#:~:text=Japan%20is%20one%20of%20the,the%20world’s%20biggest %20consumer%20markets. Country comparison tool . Hofstede Insights. (n.d.). https://www.hofstede-insights.com/country- comparison-tool?countries=japan Conversion rates - purchasing power parities (PPP) - OECD data . theOECD. (n.d.). https://data.oecd.org/conversion/purchasing-power-parities-ppp.htm Donnelly, D. (2023, June 7). Global expansion: 5 benefits & reasons to expand globally . Horizons. https://nhglobalpartners.com/5-benefits-global-business-expansion/ GDP per capita (current US$) - united states . World Bank Open Data. (n.d.). https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=US Liang, S. (2022, September 1). How to understand US cultural differences impacting your business: Hofstede’s 6-D Model . Markentry USA. https://www.markentryusa.com/en/how- to-understand-us-cultural-differences-impacting-your-business-hofstedes-6-d-model/ Japan - trade agreements . International Trade Administration | Trade.gov. (n.d.). https://www.trade.gov/country-commercial-guides/japan-trade-agreements

Japan Trade Agreement . USDA Foreign Agricultural Service. (n.d.). https://www.fas.usda.gov/topics/japan-trade-agreement Japan: Trade statistics . >> globalEDGE: Your source for Global Business Knowledge. (n.d.). https://globaledge.msu.edu/countries/japan/tradestats Merchant, Y. S. (2018, April 5). 5 major differences between Japanese and American workplaces . Business Insider. https://www.businessinsider.com/differences-between- japanese-and-american-work-culture-2018-3#japanese-workers-are-often-expected-to- party-with-coworkers-after-hours-4 Power distance index . Clearly Cultural. (n.d.). https://clearlycultural.com/geert-hofstede-cultural- dimensions/power-distance-index/ Religion in Japan . Japan Travel and Living Guide. (n.d.). https://www.japan- guide.com/e/e629.html Smith, D. M. (2021, October 6). Analysis | Japan’s new prime minister is a third-generation politician. that’s more common than you might think. The Washington Post. https://www.washingtonpost.com/politics/2021/10/06/japans-new-prime-minister-is-third- generation-politician-thats-more-common-than-you-might-think/ Twose, R. (2021, June 24). How does culture affect international business in Japan? . Language Insight. https://languageinsight.com/blog/2021/culture-business-japan-2/ U.S. Comprehensive Free Trade Agreements and other trade agreements . U.S. Customs and Border Protection. (2023, July 24). https://www.cbp.gov/trade/priority-issues/trade- agreements/free-trade-agreements United States GDP2023 data - 2024 forecast - 1960-2022 historical - chart - news . United States GDP - 2023 Data - 2024 Forecast - 1960-2022 Historical - Chart - News. (n.d.). https://tradingeconomics.com/unitedstates/gdp#:~:text=GDP%20in%20the%20United %20States,statistics%2C%20economic%20calendar%20and%20news.

Related Documents

Computer Science Exam 2.docx

Computer Science Exam 3.docx

Computer Science Exam 4.docx

211-lab-review.docx.pdf

Chapter2HW.docx

Computer Science Exam.docx

Ciara Hendricks D205 PA.docx

CS1083_Project_3.pdf

ProblemSet11_23f - Jupyter Notebook.pdf

Computer Essentials_lab2quiz.pdf

Computer Essentials_Hybrid3.pdf

Instructional Plan math 1.docx

Recommended textbooks for you

Information Technology Project Management

Computer Science

ISBN:9781337101356

Author:Kathy Schwalbe

Publisher:Cengage Learning

Principles of Information Systems (MindTap Course...

Computer Science

ISBN:9781305971776

Author:Ralph Stair, George Reynolds

Publisher:Cengage Learning

MIS

Computer Science

ISBN:9781337681919

Author:BIDGOLI

Publisher:Cengage

Fundamentals of Information Systems

Computer Science

ISBN:9781337097536

Author:Ralph Stair, George Reynolds

Publisher:Cengage Learning

Management Of Information Security

Computer Science

ISBN:9781337405713

Author:WHITMAN, Michael.

Publisher:Cengage Learning,

Principles of Information Systems (MindTap Course...

Computer Science

ISBN:9781285867168

Author:Ralph Stair, George Reynolds

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Information Technology Project Management
Computer Science
ISBN:9781337101356
Author:Kathy Schwalbe
Publisher:Cengage Learning
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781305971776
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
MIS
Computer Science
ISBN:9781337681919
Author:BIDGOLI
Publisher:Cengage
Fundamentals of Information Systems
Computer Science
ISBN:9781337097536
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Management Of Information Security
Computer Science
ISBN:9781337405713
Author:WHITMAN, Michael.
Publisher:Cengage Learning,
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781285867168
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning