January 21, 2022

Over the last several weeks, you have been preparing a feasibility study for the Vice President of Human Resources (instructor)

Resources

Read/review the following resources for this activity:

Textbook: All Chapters
Lecture (PDF): Presentation (Luthans 10e) – All Chapters (in Course Documents)
A minimum of 15-20 resources which can be a combination of websites, journal articles, news articles

Introduction
Over the last several weeks, you have been preparing a feasibility study for the Vice President of Human Resources (instructor) and the Board of Directors concerning what the 3M Corporation – Asia Pacific Division will need to know to manage employment relations as effectively as possible for a new manufacturing facility in (your chosen country) to build and assemble Medical-Surgical devices for sale in the Latin America market. This week you complete the last 2 sections of your paper and submit your final project. Please incorporate any instructor feedback that you received on your draft submissions.

Activity Instructions
Your final paper should include the following sections:

Section 1. Introduction and Country Selection

Identify the name of the country you will research for the ESA assignment.
Explain your selection by listing at least 3 reasons why you are choosing this country.

Section 2. General Characteristics

Describe the location, size, population, principle industries, language, religion, literacy, and type of government of your country.

Section 3. Economic Conditions

Discuss the standard of living (What do the people own? How does the standard of living compare to the U.S.? Ideally, this should be measured in purchasing power, accounting for the difference in currency and cost of living.)
Identify the income distribution (Proportion of upper, middle, and lower classes?)
Explain the wage levels (Compared to U.S.? Compared to rest of world?)
Explain the employment levels (Unemployment rate? Participation rate of women, minorities, youth?)
Describe how wages are determined (Supply and demand? Government policy? Collective bargaining?)
Examine employer-provided benefits.
Discuss working conditions (Hygiene and safety?)
Discuss skills available (Shortages in particular areas?)

Section 4: Organizational Topics and Human Resource Management Analysis

1. Organizational Topics, discuss the following:

Performance evaluation and discipline
Recruitment and training
Dispute resolution
- Grievances over rules application
- Impasses resulting from disputes establishing wages, hours and working conditions
Employee participation in decision-making

2. Human Resource Management Analysis of (your country’s name), discuss the following:

Benefits
Liabilities
Potential solutions

Section 5: Governmental

Describe the extent of government intervention in private employment.
Explain the existence and impact of labor laws.

Section 6: Personal

Explain the ideology, ethics, and values of people (individualistic or group-oriented, role of religion in employment, reaction to authority and organizational needs)
Discuss employee motivation (How "hard working" are employees? What motivates their performance?)

Section 7: Conclusion

Summarize your key findings and include a recommendation as to whether to locate or not locate in your chosen country.

Writing Requirements (APA format)

15-20 pages (approx. 300 words per page), not including title page or references page
1-inch margins
Double spaced
12-point Times New Roman font
Title page with topic and name of student
References page (minimum of 15-20 resources)

I would like to let you know if the requirement mention any country it has to be about Switzerland

Presentations/Luthans_10e_PPT_Ch01.pdf

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Chapter One

Globalization and International Linkages

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Learning Objectives

• Assess the implications of globalization for countries, industries, firms, and communities

• Review the major trends in global and regional integration

• Examine the changing balance of global economic power and trade and investment flows among countries

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Learning Objectives (continued)

• Analyze the major economic systems and recent developments among countries that reflect those systems

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Social Media

• Changed the way in which people connect

• Changed global business strategy

• Changed the way in which international business is conducted

• Impacted international diplomacy

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Communication Platforms

• Can be accessed by individuals and groups from any location

• Offer myriad opportunities for companies to identify and target discrete groups

• Revolutionize nature of management by allowing direct interaction between producers and consumers

• Accelerate the already rapid pace of globalization and integration

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Management

• Process of completing activities with and through other people

• International management is the process of:

– Applying management concepts and techniques in a multinational environment

– Adapting management practices to different economic, political, and cultural contexts

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Multinational Corporations (MNCs)

• Firms that have:

– Operations in more than one country

– International sales

– Mix of nationality among managers and owners

• Managers are required to develop international management expertise

• Increasingly coming from developing nations like China and India

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Globalization and Internationalization

• Globalization

– Process of social, political, economic, cultural, and technological integration among countries around the world

– Evidence can be seen in increased levels of trade, capital flows, and migration

• Internationalization

– Process of a business crossing national and cultural borders

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Factors That Facilitate Globalization

• Technological advances in transnational communications, transport, and travel

• Offshoring

– Companies undertake some activities at offshore locations instead of in their home countries

• Outsourcing

– Subcontracting or contracting out of activities that had previously been performed by the firm to external organizations

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Benefits of Globalization

Wealth

Better jobs

Access to technology

Lower prices

Availability of goods

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Criticisms of Globalization

• Offshoring of service jobs to lower-wage countries

– Companies and countries place downward pressure on wages and working conditions

• Growing trade deficits and slow wage growth could lead to economic collapse

• Concerns over environmental and social impacts

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Global Agreements

• General Agreement on Tariffs and Trade (GATT)

– Helped in the dramatic reduction of tariff and nontariff barriers among nations

• World Trade Organization (WTO)

– Oversees rules and regulations for international trade and investment

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Regional Agreements

North American Free Trade Agreement (NAFTA)

U.S.–Singapore Free Trade Agreement

U.S.–Central American Free Trade Agreement (CAFTA and CAFTA- DR)

European Union (EU)

Transatlantic Trade and Investment Partnership (T-TIP)

Association of Southeast Asian Nations (ASEAN)

Trans-Pacific Partnership (TPP)

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North American Free Trade Agreement (NAFTA)

• Member nations include the United States, Canada, and Mexico

• Helped eliminate tariffs and import and export quotas

• Opened government procurement markets to companies in the other two nations

• Increased opportunity to make investments in each other’s country

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North American Free Trade Agreement (NAFTA) (continued)

• Increased the ease of travel between countries

• Removed restrictions on agricultural products, auto parts, and energy goods

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Changing Global Demographics

• Factors contributing to the increase in the median global population age

– Increase in global life expectancy due to improvements in technology and healthcare

– Increase in time spent in retirement due to increase in life expectancy

– Decline in global fertility rate

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Shifting Balance of Economic Power in the Global Economy

• Result of economic integration and rapid growth of emerging markets

• Emerging and developing nations might play a dominant role in the global economic system

– BRIC countries – Brazil, Russia, India, and China

– E7 – Seven major emerging economies (Brazil, China, India, Indonesia, Mexico, Russia, and Turkey)

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Shifting Balance of Economic Power in the Global Economy (continued)

– N-11 – Next wave of emerging markets (Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea, and Vietnam)

– African countries can benefit from the increase in price of commodities

• Gas and oil, agricultural products, and mineral and mining products

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Table 1.7 – Changing Global Demographics: Developing Countries on the Rise

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Trends in Trade and International Investments

• Since the global recession in 2009 , global trade and investment have continued to grow

• Foreign direct investment (FDI)

– Amount invested in property, plant, or equipment in another country

– Growing at a slow but steady rate in the years since the global recession

– May reach $1.7 trillion by 2017

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Global Economic Systems

Market economy

Command economy

Mixed economy

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Market Economy

• Exists when private enterprises reserve the right to own property and monitor production and distribution of goods and services

• Management is effective

– Private ownership provides local evaluation and understanding

• Least restrictive form of economy

– Resource allocation is determined by the law of demand

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Market Economy (continued 1)

• General balance between supply and demand sustains prices

– Imbalance creates price fluctuation

• Competition is encouraged

– Helps promote innovation, economic growth, high quality, and efficiency

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Market Economy (continued 2)

• Optimal growth is facilitated by focusing on how to best serve the customer

• Monopolies or restrictive business practices may be prohibited to maintain the integrity of the economy

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Command Economy

• Government holds explicit control over the price and supply of a good or service

• Businesses are owned by the state

– Ensures that investments and other business practices are done in the best interest of the nation

– Management ignores demographic information

• Creates an environment where little motivation exists

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Mixed Economy

• Combination of market and command economy

• Helps raise the standard of living

– Aided by regulations concerning minimum wage standards, social security, environmental protection, and the advancement of civil rights

• Ownership of organizations that are critical to the nation may be transferred to the state

– Subsidizes costs and allows the firms to flourish

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Evaluation of the World’s Economies

Established economies

• North America

• European Union

• Japan

Emerging economies

• Central and Eastern Europe

• China

• Other emerging markets of Asia (South Korea, Hong Kong, Singapore, and Taiwan)

• India

Developing economies

• South America

• Middle East and Central Asia

• Africa

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North America

• One of the four largest trading blocs in the world

– Combined purchasing power of the United States, Canada, and Mexico is more than $19 trillion

• Free-market-based economy provides considerable freedom in decision-making processes

– International firms receive the benefit of greater flexibility and lower barriers

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North America (continued 1)

• The United States

– Firms maintain dominant global positions in technology-intensive industries

– Considered to be a lucrative market for expansion by foreign MNCs

– Canada is the largest trading partner

• Most of the largest foreign-owned companies in Canada are totally or heavily U.S.-owned

• Legal and business environments are similar to that in the U.S.

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North America (continued 2)

• Mexico

– Strongest Latin American economy

– Has free-trade agreements with over 46 countries

– Competes with Asia for the U.S. market and has the benefit of proximity and lower-cost labor

• Facilitated by the maquiladora system

– Increased trade with both Europe and Asia

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European Union (EU)

• Objectives and goals

– Eliminate all trade barriers among member nations

– Follow a single currency (euro) and a regional central bank

• Firms have the benefit of:

– Manufacturing high-quality, low-cost goods

– Shipping manufactured goods across the EU without paying duties or being subject to quotas

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European Union (EU) (continued)

• Challenges

– Absorbing its eastern neighbors that could result in a giant, single European market

– Large deficits faced by several European governments

• Resulted from structural conditions and shorter-term economic pressures

• Placed pressure on the euro

– Maintaining a unified EU in the coming decades

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Japan

• Unprecedented economic success in the 1970s and 1980s

– Huge positive trade balance

– Strong yen

– Gained recognition as the world leader in manufacturing and consumer goods

• Remains a formidable international competitor and is well poised in all major economic regions

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Japan (continued)

• Early success can be attributed to:

– The Ministry of International Trade and Industry (MITI)

• Governmental agency that identifies and ranks national commercial pursuits and guides the distribution of national resources to meet these goals

– Keiretsus

• Large, vertically integrated corporations whose holdings supply much of the assistance needed in providing goods and services to end users

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Emerging and Developing Economies

• Face relatively low GDP per capita

• Have an unskilled or semiskilled workforce

• Involve considerable government intervention in economic affairs

• Can be viewed as developing economies that exhibit sustained economic reform and growth

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Russia

• Dismantled price controls

• Privatized businesses previously owned by the government

• Direct investment and membership in International Monetary Fund (IMF) helped to raise GDP and decrease inflation

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Russian Economy

• Early economy was boosted by abundant oil and high global energy prices

– Recent decreases in demand have pushed Russia into a recession

• Likely to undergo many years of economic instability and recurrent political problems

• Challenges – Persistent crime, corruption, and lack of public security

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Central and Eastern Europe

• Hungary

– Privatization of state-owned businesses

– Joint ventures between local and western firms

– Receives direct investments from MNCs

• Poland

– Only economy in the EU to continue to grow during the global recession of 2008–2009

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Central and Eastern Europe (continued)

• Key for Albania and other Eastern European countries is to make themselves less risky and more attractive for international business

– Maintain social order

– Establish rule of law

– Rebuild collapsed infrastructure

– Get factories and other value-added, job- producing firms up and running

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China

• Considerable decline in GDP

• Current challenges

– Massive savings glut in corporate sector

– Globalization of manufacturing networks

– Vast developmental needs

– Unemployment (15–20 million new jobs required annually)

– Social unrest

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China: Major Risk for Investors

• Caused due to:

– Delicate nature of the one country, two systems balance (communism and capitalism)

– Concerns about undervaluation of China’s currency

– Unpredictable and fluid nature of policies toward foreign firms

• Trade relations with developed nations remain tense

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Economic Performance in Emerging Markets of Asia

• South Korea

– Chaebols: Large, family-held conglomerates that have considerable economic and political power

– Has a solid economy with moderate growth and inflation, low unemployment, an export surplus, and fairly equal distribution of income

• Hong Kong

– Headquarters for some of the most successful multinational operations in Asia

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Economic Performance in Emerging Markets of Asia (continued 1)

• Singapore

– Emerged as an urban planner’s model and the leader and financial center for Southeast Asia

• Taiwan

– Progressed from a labor-intensive economy to one dominated by technologically sophisticated industries

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Economic Performance in Emerging Markets of Asia (continued 2)

• Thailand, Malaysia, Indonesia, and Vietnam

– Have a large population base with inexpensive labor despite lack of natural resources

– Known to have social stability but have suffered from turmoil in the aftermath of recent economic crisis

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India

• Recent trend of locating software and higher value-added services has bolstered middle- and upper-class market for goods and services

• Attractive to U.S. and British investors

– Presence of English-speaking, well-educated, and technologically sophisticated workers

– Availability of government funds for economic development

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South America

• Faced many economic problems

– Accumulated heavy foreign debt obligations

– Experienced severe inflation

• Implemented economic reforms to reduce debt

– Periodic economic instability and the emergence of populist leaders have had an impact on the attractiveness of countries in this region

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South America: Brazil

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Over the last several weeks, you have been preparing a feasibility study for the Vice President of Human Resources (instructor)

Presentations/Luthans_10e_PPT_Ch01.pdf

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