In this assignment, you’re going to analyze the culture of an unfamiliar develop

In this assignment, you’re going to analyze the culture of an unfamiliar developing or emerging market.
Pre-step: Make sure you’ve reviewed our M5 Learning Materials.
As well as our M5 Module Notes.
M5.1 Module Notes: Cultural Influences on Business Strategies
Please review the module notes below prior to reviewing this week’s learning materials.
Why is cultural knowledge important to the future of an international business?
Culture is present in every business interaction, transaction, and decision. One can infer that if we understand a country’s culture, and we consider that understanding with business planning, we can increase corporate productivity (or decrease downtime spent on working through cultural issues) (Henry, 2019). And while it may not be feasible for an internationally operating business to be an expert in the cultures of all its markets, it is possible to incorporate external cultural understanding in a corporation’s workforce. After completing this module, you should not only have a solid understanding of culture but also comprehend how culture can influence international business strategies.
What comprises a country’s culture? How to assess cultural impact?
We are living in a time where trade is becoming more global by the day. Successfully conducting business on a global basis requires a good understanding of various cultures. Firms also need to be able to assess the cultural impact and understand the characteristics that comprise culture (Asgary, 2019). After understanding culture and the cultural characteristics that distinguish various nations, business managers need to evaluate how culture can affect operations.
What is the importance of cross-cultural management?
Furthermore, business leaders must understand the importance of cross-cultural management when completing business activities such as hiring, training, organizing, and leading cross-cultural teams (Henry, 2019). Earlier in this course, you learned that globalization was the interdependency of people, businesses, and governments from different countries. This interdependency means that cross-cultural management is a key component of successful international business operations (Asgary, 2019).
In this module, you will review the importance of cultural knowledge during global business operations. Additionally, you will learn about the characteristics and dimensions of culture and learn how they will impact business operations outside of national borders.
In our upcoming discussion, we’ll explore international cultures and apply this information to your product launch. Before you tackle that, however, please explore the module resources on the following page.
References:
Asgary, N.H. (2019). Global business: An economic, social, and environmental perspective. Information Age Publishing.
Henry, E. (2019). Business cultures around the world: A practical guide. PUG.
Step 1: Select a developing or emerging IMF market.
This should NOT be a market you are familiar with or be one of the foreign markets you examined in this week’s discussion.
• Reference our IMF 2021 Country Classifications map to ensure you are selecting an appropriate country.
Step 2: Research your selected country’s culture.
Leverage at least 3 academic references (module learning materials and additional resources sourced from the EC Library (Links to an external site.)) to answer the following:
• What are the cultural dimensions that best characterize the culture of your chosen country?
o You should look beyond Hofstede’s cultural dimensions and explore issues such as political influence, religion, education, etc.
• How would you compare the culture of your chosen country to the United States?
o What is similar?
o What is different?
o What is most interesting?
Now, imagine you were working in this market to launch a product for an American company…
• Would you adopt an ethnocentric, polycentric, or geocentric approach? Why?
o What’s an example of a business tactic that would exemplify your chosen approach?
o How would your approach impact diversity in the workplace?
• What challenges might the slight cultural differences among the regions, cities, urban, suburban, and rural areas of your chosen market present?
• What is something that you might have difficulty adapting to if you worked or lived in this country?
• Personally, would you judge yourself to be more ethnocentric, geocentric, or polycentric? Why?
Step 3: Craft a 3-4 page essay using APA formatting.
Addressing the questions in the previous step. APA formatting includes title page, reference page, double spacing, one-inch margins, and headings. The title and reference pages are required but do not count towards the 3-4 page count.

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