MKT 505 Assignment 1 - Global Business Today – The Hofstede Study
Refer to Hofstede model in Chapter 4 of the textbook and the Global Business Today Interaction located below, and complete this assignment. Note: You must have a Flash-enabled browser to view the Global Business Today Interaction. iPads will not show this interaction.
Write a three to four (3-4) page paper in which you:
1. Create a problem statement for the client, Azure Sky Tea, based on the Hofstede model.
2. Classify possible combinations of countries for location of the Azure Sky Tea’s offices based on the Hofstede model. Include a discussion of the home country’s (U.S.) relative position on the Hofstede scales as compared to other countries. Note: Utilize the Hofsetede module to include all parameters (i.e., individualism, uncertainty, power distance, masculinity) for the classification.
3. Choose two (2) countries as potential locations for the Azure Sky Tea’s new international offices. Next, develop a set of specific recommendations for the company. In your recommendations:
a. Include the preliminary data that you gathered in the previous question.
b. Demonstrate the most important dimensions of the Hofstede model for Azure Sky Tea to consider as a U.S. company and for the industry that it represents.
c. Predict the economic opportunities of your recommendations.
4. Speculate on the main potential risks inherent in relocating to the countries that you are considering. Suggest at least two (2) approaches that the Azure Sky Tea leadership could leverage to mitigate the potential risks that you have identified.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Formulate, implement, and evaluate effective marketing strategies based on an analysis of global operating environments, market dynamics, and internal capabilities.
• Analyze the major economic, cultural, and political / legal aspects of the international business environment, including the economic dynamics of foreign trade, impact of regional and global trade integration, and key cultural dimensions affecting marketing operations.
• Assess the potential risks and benefits of various international markets and formulate effective market entry strategies to support foreign market expansion.
• Use technology and information resources to research issues in international marketing.
• Write clearly and concisely about international marketing using proper writing mechanics.