Running Head Fictitious Company 1 Fictitious Company 2

Running Head Fictitious Company1fictitious Company 2fictitious Co

FICTITIOUS COMPANY 2 Fictitious Company My fictitious Company is referred to as SanFrac Stores and is a retail store that operates in New York. The retail store seeks to gain a global presence and wants to merge with the Spear Stores, which runs and operates in North Carolina. The merger between these companies will lead to a change in the business, and the resulting company will be named as Society Store. The Society Store seeks to expand internationally by going global, and the country of choice is China. The vast size of the Chinese market coupled with its impressive growth history for the organization to venture into.

Difference between HRM and IHRM As the organization plans to merge and improve its global influence, it has to keep in mind the various perspectives related to the local human resource management and international human resource management. HRM primarily aims at ensuring that the organization has the right employed based on its specified job functions to make sure that the stipulated goals are effectively achieved. The HRM does this by utilizing the individual’s talents, skills, and abilities, and the HRM motivates them to remain competitive. Importantly, the HRM offers self-actualization and job satisfaction by maintaining cordial relationships between the employees and the management (Gulzar, 2017).

Such is achieved by ensuring ethical policies and behavior are practiced and that a standard of work-life is maintained across the entire organization. The global perspective has modified the HRM into international human resource management, necessary when it comes to covering the changing work scenario. HRM is only involved in recruiting, developing, and managing local employees, unlike the IHRM, which is engaged in recruiting, managing, and improving the employees from diverse countries. Unlike the IHRM, which is impacted by both the internal and international factors, the HRM is only influenced by the internal factors (Bal & Dorenbosch, 2014). At the same time, the personnel management in the HRM is concerned with people of a similar national and cultural environment while the IHRM deals with employees from distinct cultural context and nationalities.

Cultural concerns in Chinese Market Operating the business across diverse cultural and geographic boundaries can sometimes be difficult to a business engagement, especially if there lacks an adequate plan that addresses the cultural concerns. The merger transition needs to pay close attention to the issues of culture. A global organization can only become successful if it can competently bridge the gap between culture and management to establish a personal relationship with society. Such is imperative because cultural reality and relativity influence the organizations’ operations. After the merging process, the resulting business organization will create a global presence and will start with China.

Despite its impressive growth history, the norms, cultural traditions, and expectations have permeated into its business practices, and thus, there exists a level of business complexity often confusing amalgamation of the American influence (Lunicheva, 2017). One of the critical cultural concerns when entering the Chinese market is the establishment of networks and connections, termed as Guanxi in China. Chinese people accord preferences to those they know and trust, and the organization will have to establish relationships with the other companies and also between members of the organization. The organization will have to consider the Confucianism cultural aspect by showing respect to the seniority, age, and educational background, and the organization's manager will be expected to take an interest in all the elements of the employees' lives.

The face is a critical cultural consideration in China, and a slight mistake from the Company can make the society to lose face facilitated by such things as criticizing individuals in front of others (Lunicheva, 2017). The organization should consider how it will improve the face aspect and do it in utmost sincerity and honor. Chinese embraces the concept of teamwork more than individualism, and the organization has to strive to achieve the collectivism aspect. In addition to this, the organization should consider the meetings and greetings aspects that need to be carried out with a lot of respect and sincerity. Besides, giving gifts should be included in the business plans about the cultural perspectives as they symbolize hopes friendship and can exhibit a future business success.

Mission Statement with Some Goals Society Store’s Mission Statement is "To improve people's lives by saving their money and availing quality products." The mission statement will enable the Company to thrive in the global presence because it alludes to not only improving people's lives but also avail quality products through digital platforms and physical stores. The Company's primary goals include promoting economic opportunity through adequate retail and supply chains as well as the use of technological advancements. Secondly, to improve the lives of people in societies by developing local communities and enhancing their resilience to face disasters. Besides, the Company wants to enhance sustainability characterized by the value chains.

The short term goals include; to avail quality products in the most convenient way to customers. To improve the lives of individuals by providing affordable products. Third, to use the technology advancements to enhance engagement and collaboration to the supply chains. Spread and growth of internationalization and how it will affect the Company Internationalization is increasing daily as more and more companies seek to expand their global presence. The growth of technology has increased the internationalization aspect as the large companies can use it to gain competitive advantage.

Global business is rapidly becoming a norm, and China is one of the countries benefitting from it primarily due to the broad market it holds (Hudzik, 2014). The rapid changes in global economic and political conditions have continued to increase opportunities that favor internationalization. The foreign demand for quality products increases the spread and growth of internationalization. Due to this, the Company is likely to face a high competitive market as more organizations are purported to go global. Outline for basic business plan and strategy and a vision statement A basic business plan will first address the problem that the organization seeks to address and the solution it intends to deploy.

The market, competition, and financial highlights will be considered. Opportunity based on the problem worth solving together with the market analysis will be incorporated in the business plan and also discuss the execution of the expected solution. The company and management summary, as well as the financial plan, will be considered. The Company seeks to address the problem of ineffective supply chains in the market and the high cost of products that sometimes do not add value to customers. The vision statement of the Company is; "to be the best retailing company that considers the heart and minds of employees and consumers." Legal and safety issues Tariffs and trade wars between China and the USA present risky investment opportunities to the market.

China may face an intensifying economic downfall due to the debt problem as it may fail to recover some of the considerable money it lends to many overseas governments (Wallace, 2017). The domestic exchanges within China are quite weaker when compared to that of New York. References

Bal, M., & Dorenbosch, L. W. (2014). Age-related Differences in the Relations between Individualized HRM and Organizational Performance. Academy of Management Proceedings, 10214. doi:10.5465/ambpp.2014.10214abstract

Gulzar, R. (2017). Understanding The Relationship between HRM Practices and Organization Performance in HDFC Bank. Archives of Business Research, 5(3). doi:10.14738/abr.53.2832

Hudzik, J. K. (2014). Comprehensive Internationalization: Institutional pathways to success. London, England: Routledge.

Lunicheva, A. (2017, January 26). Cultural Factors in Doing Business in China. Retrieved from Inter HR Unit IV.

Wallace, M. (2017). China's Debt Problem and Global Economic Impacts. International Economics Review, 36(2), 150-170.