Your country analysis should answer the following prompt: What country-specific information is important in the consideration of market entry? How do cultural differences impact business communication and decisions? Specifically, the following critical elements must be addressed in consideration of your country of choice: I. Introduction and Country Choice A. Rationale: Select your country and share why you chose your specific country for further analysis. B. Location: In what region is your country located? Is the country landlocked or does it have water access? Describe the geography of the region and include a map for visual impact. II. Macroenvironment: Address the following with respect to your chosen country. A. Sociocultural Environment i. Country Composition: What are elements of country composition that impact business decisions? Consider literacy rates, urbanization rates, heavily populated cities, age structure, major religions, and educational data. ii. Values and Communication: How do cultural values shape communication and behaviors? Highlight cultural norms that align with Hofstede’s and/or Trompenaars’s cultural dimension models. Outline major languages and nonverbal communication. For example, you could include nonverbal cues, physical contact, and body language. iii. Business Etiquette: What are some behaviors in business that are driven by culture? Highlight five rules of business etiquette that are pertinent in the region. For example, consider gift giving and greetings. iv. Observation Deck: In what ways do sociocultural elements apply to business practices and market entry? For example, highlight cultural issues that impact marketing or consider the following areas: employment, consumer demand, managerial approach, and business etiquette. B. Political–Legal Environment i. Government and Ideologies: Who is the ruling political party and leader? Has there been a recent change in ruling parties? Does a large opposition group exist? ii. Corruption: How do unethical practices impact business? What are three measures of corruption that characterize risks in the market? Explain your findings. iii. Trade Regulations and Legal Considerations: What are four measures of government influence on trade and employment? Consider sanctions, tariffs, labeling requirements, restricted items, or other barriers to trade, minimum wage rates, employment-discrimination laws, or environmental regulations. iv. Observation Deck: How would a company apply political and legal information to market-entry decisions and business practices? Make an observation regarding political and legal risks or opportunities. For example, consider safety risks, additional costs, industry barriers, high corruption rates, risky ideologies, and so on.
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