Homework
Length: 5 pages.
Objectives
On successful completion of this homework, students should be able to:
1) Describe and explain different cultural differences and the importance of recognizing these differences,
2) Describe the three main types of economies and understand economic development and transition issues, and
3) Describe and explain different political and legal systems and understand the increasing importance of CSR and ethics in international business.
Brief Description
The case will focus on issues related to the cultural aspect of international business. Sustainable business practices include CSR issues, foreign investment, and the benefits of regional integration for the countries within, and companies doing business in, that region. The case study analysis will be completed on an individual basis.
Instructions
Read the case study and answer the questions that follow. Each answer must be based on facts from the case and all of the course materials. Each answer should be 1 to 2 pages long for a total submission length of 10 pages maximum and must be prepared in APA style format.
Task
• Cultural understanding is a key factor in this situation. Comment on the importance of this aspect of market entry and development, being sure to discuss the key elements of understanding and working effectively in Mexico.
• Using the Hofstede Framework, analyze the Mexican culture with reference to concepts covered in the course materials.
• CSR and business practices are another set of critical issues in this case. Describe four CSR issues and explain how these issues can impact a company's international business activities.
• The Client, in order to develop its Market Entry Strategy fully, will be required to make an investment in Mexico. Explain each of the four means of incorporating risk into market entry strategies if The Client wanted to use an Adaptation Strategy.
• The Client will benefit from trading with other countries in the region. Consider the changes arising from the renegotiation of NAFTA to CUSMA and evaluate the advantages/disadvantages of How significant is the trading area for the firm trading across all three member countries?
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.