Details: The CEO has asked you to identify three target market countries and present your choices to senior management.
Individual Portion: Take the three countries you chose as potential target markets for PM Company. Use the Cybrary and the Internet to conduct research and locate background and cultural information on these countries.
What specifics did you learn about doing business in each of the three targeted countries?
How will this knowledge help PM Company do business there?
Using Hofstede's five cultural dimensions, what did you learn about the culture(s) in each country that will help you make better management decisions when planning to do business there as well as actually doing business there?
Finally, analyze how the cultures of these countries are similar and how they differ, and how this information will impact your management decisions.
Presentation should address the following:
- Overview of the countries using the information you discovered during your research
- Benefits for PM Company to do business in those countries
- Cultural factors to consider (the result of your research into the Hofstede cultural dimensions)
- Recommendations for PM Company's business approach in those countries