International Business

PurposeThe purpose of this assignment is for you to use the knowledge you’ve gained about international business to create a final paper given the scenario provided.InstructionsPart One:  One way to analyze the cultural differences among countries is to conduct a Hofestede analysis.  Visit https://www.hofstede-insights.com/ (Links to an external site.) to learn what this analysis considers. Scroll down the page until you see Country Comparison Tool.  Click in the white box to pull up the drop-down menu of countries.  Select any country from the drop-down box (the figures for that country will create a chart).  Be original with your country selection. Select the United States in the same drop-down box next to your original country (now both country’s figures should show in a chart).  Click on Read More about Chosen Countries.  There will be a tab displayed for each of your countries.  Read the information then summarize how the country of your choice differs from the United States when analyzed using this method.  This is section 4 of the Minimum Requirements for Part Two of this assignment.Part Two:  You are the HR Director in the United States.  The company you work for is a growing firm in any industry you choose, is extremely sensitive to issues surrounding business ethics, and is expanding to the country you chose to compare to the US in Part 1.  You will have the following specific areas to focus on for your final paper:Describe the international financial system.Compare U.S. and international business management practices.Explain major concepts of international trade and investment.Relate ethics and social responsibility issues to international business decisions.You will create a 5 to 7-page paper (double-spaced, 1” margins, APA/MLA format) which includes all of the following:Minimum Requirements:State the industry you have chosen for this paper and the country you will expand into then describe the government, culture, demographics, education, and perceptions of the U.S. for the country you selected.What key concepts related to business ethics should be considered in the country you selected (e.g., is bribery the norm in the country)? Are there current laws in place related to business ethics within your country?Describe your country’s financial system.  How stable is their currency?  How is trade with the U.S. today?Include the summary data from Part One.  Make sure you include how the US and international business management practices differ.Describe how you will develop a compensation plan.  Discuss how it will differ from the pay in the U.S.  This ties into how the workers in the country you selected are paid now as compared to the U.S. worker. Many countries pay pennies to the dollar compared to the U.S.Employee and labor relations are critical issues.  Safety concerns are not a reality in some countries but your company is ethical and cares about doing things right.  How do you plan to keep your employees safe in the workplace (e.g., will you operate a sweatshop if this is the norm in your country; are there concerns related to terrorism with your country, etc.)Based on your research, would you choose to expand your growing business to the country you selected?  Is the country you selected a good place to do business? Why or why not?You must cite a minimum of 3 sources for this paper.  I recommend you organize your paper as follows:Introduction:  Describe criteria from A above (1-2 pages).Body:  describe criteria from B – F above (3-5 pages).Conclusion:  describe G from above and wrap up any other concluding thoughts (1 page or less).