Overview In this course, you have explored the elements of a market profile, including cultural, political, and economic aspects,
Due 4/1 Please see Business Brief 1 with half of the information done then utilize the other to finish project using Canaa
Template: Business Brief
Submit the template as a 500- to 650-word Microsoft Word document. Based on your milestones, you should have Sections One and Two completed, as well as the Legal and Regulatory Considerations portion of Section Three. Sources should be cited according to APA style.
Overview
In this course, you have explored the elements of a market profile, including cultural, political, and economic aspects, and looked at the legal and regulatory market considerations. In this milestone, you will complete the next part of your course project by creating a market profile for your chosen country and creating legal and regulatory considerations.
Scenario
You are a business analyst working at a small, domestic organization that produces high-quality baseball bats. Your organization has begun to see its sales flatten in the domestic market. While the organization is not losing money, leadership would like to explore options to continue to grow. One option that leadership has noticed competitors attempting is entering international markets.
You have been asked to examine the benefits, drawbacks, and key considerations for your organization to enter one of the global markets below, and summarize your findings in a business brief for leadership.
Continue to use your selected market from Milestone One. As a reminder, the options for international markets are:
- Canada
If you would like to use another country for your final project please reach out to your instructor.
Prompt
In this milestone, you will continue to use the Business Brief Template (located in the Guidelines for Submission section of this document). Complete Section Two and the Legal and Regulatory Considerations portion of Section Three. Use course resources as well as the INT 220 Library Guide to support your responses.
Specifically, you must address the following rubric criteria:
Market Profile: Explore and explain the cultural, political, and economic environment of your selected market to help inform future business decisions regarding expansion from the domestic market.
A. Cultural Profile: Compare and contrast important cultural elements of your selected market against those in the domestic market, including communication, dimensions of culture, attitudes, common business etiquette and practices, and at least five other important aspects of culture.
B. Political and Economic Profile: Compare and contrast important political and economic factors for your selected market against those in the domestic market, including political systems and ideologies, current leaders, economic measures or characteristics used in classification, and government intervention on trade.
Market Considerations: Discuss the legal and regulatory considerations in your selected market that can impact business decisions regarding expansion to new global markets. You should also consider corporate social responsibility for each market consideration.
A. Legal and Regulatory Considerations: 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 import restrictions or documentation.
Guidelines for Submission
Template: Business Brief
Submit the template as a 500- to 650-word Microsoft Word document. Based on your milestones, you should have Sections One and Two completed, as well as the Legal and Regulatory Considerations portion of Section Three. Sources should be cited according to APA style.
INT 220 Business Brief Template Course Project
Complete this template by replacing the bracketed text with the relevant information.
Overview
A company seeking to expand its market to other countries must understand market considerations that can hinder attempts to enter into international markets. This US-based company producing high-quality baseball bats seeking to enter into the Canadian market must evaluate trade barriers, regulations, legal processes, and import restrictions. Generally, US-based companies face restrictions (tariff and non-tariff) when exporting, which include requirements for import licenses, high tariffs for particular products, measures for countervailing and anti-dumping, product bans, agricultural products quarantine measures, restriction on rule-making process participation, discriminating rules against the US products, inconsistent rules with relevant worldwide standards and trade-barriers (International Trade Administration, 2021).
Section One: Drivers for Global Entry
Canadian economic and business environment is robust and developing more than other G7 countries since mid-2016. The strong labor market drive, positive output development, higher and business confidence and Canadian consumer levels promote wage growth. As time continues, downside and upside risks exist that may influence the economic outlook. Nevertheless, the trade and market turbulence increase and the new Canada-United States-Mexico Agreement (CUSMA) are probable drives to tighter financial settings and continuing market volatility, affecting Canadian growth prospects. Foreign investors are supposed to notify the Canadian government about their new business activities according to the Investment Canada Act (R.S.C. 1985) and acquire direct control acquisition of a Canadian business
On imports tariff, Canada eliminates most agricultural and all industrial products tariffs coming from the US under NAFTA terms; TRQs (tariffs and tariff-rate quotas), however, are still affecting poultry and dairy tariff lines. In the 2013 federal budget, Canada declared eliminating MFN tariffs on athletic equipment and baby clothing (International Trade Administration, 2021). Baseball bats fall in the industrial category where NAFTA terms eliminate product tariffs and under athlete equipment where MFN tariffs are eliminated. Canada Border Services Agency will permit the entry of baseball bats since they are not among the agency's list of prohibited and restricted and goods (Canada Border Services Agency, 2021).
Section Two: Market Profile
Complete the tables below to use data and statistics to support your comparisons. Words, phrases, and numbers should be used to complete the tables, not complete sentences.
Cultural Profile
|
Category |
United States |
Canada |
|
Commonly Spoken Languages |
English and Spanish |
English and French |
|
Commonly Practiced Religions |
Protestant and Catholic |
Roman Catholic and Protestant |
|
Power Distance Index (PDI) |
40 |
39 |
|
Individualism Versus Collectivism (IDV) |
91 |
80 |
|
Masculinity Versus Femininity (MAS) |
62 |
52 |
|
Uncertainty Avoidance Index (UAI) |
46 |
48 |
|
Long-Term Orientation Versus Short-Term Normative Orientation (LTO) |
26 |
36 |
|
Indulgence Versus Restraint (IVR) |
68 |
68 |
Political and Economic Profile
|
Category |
United States |
Canada |
|
Political System |
Constitutional Federal Republic |
Constitutional Monarchy |
|
Current Leaders |
President Joe Biden |
Prime Minister Justin Trudeau |
|
Economic Classification |
Mixed |
Mixed |
|
Economic Blocs Impacting Trade |
World Trade Organization (WTO), and the Marrakesh Agreement |
The North American Free Trade Agreement (NAFTA) |
|
Gross Domestic Product |
23.99 trillion |
1.643 trillion |
|
Purchasing Power Parity |
1.00 |
1.287 |
|
Gross Domestic Product Per Capita |
63,543.58 |
43,241.62 |
|
Human Development Index |
.926 |
.929 |
|
Gender Development Index |
.994 |
.976 |
|
Gender Empowerment Measure |
.70 |
1.0 |
|
Human Poverty Index |
15.4 |
10.9 |
Section Three: Market Considerations
Complete the table below to support your explanations using current exchange rates.
Exchange Rates
|
Category |
The U.S. Dollar |
[Insert Country Selection From Course Project’s Currency] |
|
Exchange Rate |
.92 ERO |
.79 US dollar |
Legal and Regulatory Considerations
Both Canada and the US have almost equal business general legal and regulatory requirements. In both countries, government regulation questions start with tax compliance for all small business owners. There are unique laws, including governing permits and licensing, email marketing, advertising, antitrust, and employment. On the other hand, Employment legislation Canada provides minimum standards for severance, termination notice, leaves, vacation, and wages according to the provincial standards legislation.
Mode-of-entry considerations in Canada are quite different from the US. Canada Border Services Agency will permit entry of new goods to the Canadian market provided they are not in the list of prohibited and restricted categories. Also, The US government has opened many offices in Canada to facilitate domestic companies to enter the Canadian market. Therefore, companies are supposed to join the US trade mission to Canada in consultation with the US. The US Commercial Service offices in Canada are active and facilitate new entries. On the other hand, companies entering the US market request permits from the federal government. Those companies can either choose to export goods to the US directly, indirectly or through partnership.
References
Country Comparison. (2020, August 12). Hofstede Insights. https://www.hofstede-insights.com/country-comparison/canada,the-usa/
OECD (2022), Purchasing power parities (PPP) (indicator). doi: 10.1787/1290ee5a-en (Accessed on 13 March 2022) Conversion rates – Purchasing power parities (PPP) – OECD Data
Human Development Report 2020 The Next Frontier: Human Development and the Anthropocene Briefing note for countries on the 2020 Human Development Report https://hdr.undp.org/sites/all/themes/hdr_theme/country-notes/USA.pdf
,
INT 220 Business Brief Template Course Project
Complete this template by replacing the bracketed text with the relevant information.
Overview
[Summarize the business problem, country selected, and intended audience for this business brief. Make sure to use complete sentences.]
Section One: Drivers for Global Entry
[Explain the purpose of global expansion, the business and societal impacts of global business, and cultural considerations for global business. Use evidence from course and outside resources to support your explanations, and use complete sentences.]
Section Two: Market Profile
Complete the tables below to use data and statistics to support your comparisons. Words, phrases, and numbers should be used to complete the tables, not complete sentences.
Cultural Profile
|
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
|
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.] |
|
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.] |
|
Human Development Index |
[Insert information.] |
[Insert information.] |
|
Gender Development Index |
[Insert information.] |
[Insert information.] |
|
Gender Empowerment Measure |
[Insert information.] |
[Insert information.] |
|
Human Poverty Index |
[Insert information.] |
[Insert information.] |
[Compare and contrast important political and economic factors for your selected market against those in the domestic market, including political systems, current leaders, and economic measures or characteristics used in classification.]
Section Three: Market Considerations
Complete the table below to support your explanations using current exchange rates.
Exchange Rates
|
Category |
The U.S. Dollar |
[Insert Country Selection From Course Project’s Currency] |
|
Exchange Rate |
[Insert information.] |
[Insert information.] |
Legal and Regulatory Considerations
[Compare and contrast important market considerations for your selected market against those in the domestic market. Explain the similarities, differences, and considerations for conducting business between the two markets, such as general legal and regulatory requirements, monetary and management logistics, and mode-of-entry considerations.]
References
[Include any references you cited according to APA format.]
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
