Compare and contrast important cultural, political, and economic elements of your selected market versus the United States to explain similarities and differences between cultural practices, attitudes, economic factors, and political environments. As you develop your business brief you will need to build a market profile for your selected country. Your market profile will include:
Cultural Profile: Compare and contrast important cultural elements of your selected market against those in the domestic market, including communication, values and attitudes, cultural dimensions, and so on.
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, current leaders, and economic measures or characteristics used in classification.
Legal and Regulatory Profile: 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.
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. As you develop your business brief you will need to identify important market considerations for your selected country. These will include:
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.
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 into your selected market.
Use the sub-pages under this Market Profile page (CultureGrams, globalEDGE, MarketLine, International Trade Administration, Doing Business Reports & Banks, International Labor Organization) to learn more about how to conduct research for your project. The resources described and linked in the sub-pages to the left have been selected because they are trusted sources that cover these topic areas. Combining research from these resources with the material in your assigned readings will enable you to complete the market profile. Remember that you can apply your research skills to identify additional information from other reliable sources.