Successful Domestic Company Goes Global! Due Week 9 And Work ✓ Solved

Successful Domestic Company Goes Global! Due Week 9 and worth

Imagine that you are the CEO of a successful domestic company. In the last 6 months, many potential clients in foreign countries have expressed a desire to conduct business with you. You know that in order for your company to grow, you will have to expand overseas. You have recently attended a local three (3)-day international trade exposition and have gathered many brochures on the foreign companies interested in doing business with your company.

After meeting with the Executive Committee of your successful domestic company, you decide that you will need to identify a minimum of two (2) countries for expansion and two (2) expatriates whom you will send into the chosen countries. The selected expatriates will learn about the countries’ cultures and business activities there. You must prepare a report for the potential employees who may want to take an overseas assignment, the Executive Committee, and the Board of Directors. Use the Internet and Strayer Library to research possible countries for expansion. Next, conduct research on leveraging expatriates over country nationals for business overseas.

Finally, research books that could help expatriates in their transition to working overseas. Write an introduction and conclusion. Type each question before answering them. The written pages have to minimum 9 pages. Write them in your own words and provide original works. No plagiarism. Write 9 page paper in which you:

Create a guide to leveraging expatriates. The guide should include four to six (4-6) sources that address benefits and challenges of sending expatriates to other countries. Examine the major benefits that this report can provide for the organization, and suggest two (2) uses for the information contained therein. Justify your response.

Analyze the major factors (e.g., distance, cultural background, knowledge of related countries, languages spoken, relatives who may live in another country, etc.) that would influence your choice of countries into which your company would expand. Recommend two (2) countries for expansion. Provide a rationale for your response.

Determine three (3) criteria that you would consider when deciding which employees to send abroad. Justify your response. Propose the major methods and/or incentives you would use in order to encourage the selected employees to become expatriates. Provide a rationale for your response.

Recommend one (1) strategy to ensure that both the Executive Committee and the Board of Directors are committed to the expansions. Justify your response. Recommend two (2) books that the selected expatriates should take with them when they go overseas. Provide a rationale for your response.

Outline a guide for expatriates who will reside within another country for one to two (1-2) years. The related guide should cover the following topics: selecting items to pack, accommodating a vehicle (i.e., leave behind or send overseas), shipping or selling furniture, moving pets, and arranging accommodations for children and/or family residing in another country for the discussed length of time. Develop a framework for your presentation. The framework should include relevant visuals, statistics that support the decision to expand into the identified countries, a feasibility study of your company’s proposed expansion to the countries in question, information related to renting or buying land or a building, and any other information relevant to the case for expansion.

Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other similar websites do not qualify as academic resources.

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: Evaluate the implementation process related to strategy management. Use technology and information resources to research issues in global management. Write clearly and concisely about global management using proper writing mechanics.

Paper For Above Instructions

Introduction

Expanding a successful domestic company into international markets is a strategic decision that can lead to significant growth and global presence. As the CEO of such a company, the recent interest from foreign clients necessitates an exploration of overseas expansion. This paper presents a comprehensive guide to leveraging expatriates for the company’s international growth. It will begin with an analysis of two potential countries for expansion and will explore the benefits and challenges associated with expatriate deployment. Moreover, the paper will propose strategies for employee selection and provide an outline for expatriates preparing for international assignments.

1. Guide to Leveraging Expatriates

Sending expatriates abroad offers distinct advantages compared to employing local nationals. First, expatriates can impart vital knowledge regarding the company’s culture, values, and standards, thus ensuring consistent business processes and practices across borders (Harrison & Chadwick, 2020). Second, expatriates can accelerate the establishment of strong relationships with clients and stakeholders in the host country through face-to-face interactions. Research indicates that personal relationships significantly enhance business negotiations and operations in various cultures (Empson, 2018). A critical analysis highlights that while expatriates can drive successful transitions, challenges such as cultural integration and adjustment issues pose risks to both the expatriate and the organization (Brewster et al., 2016). Therefore, a robust expatriate management strategy is essential.

The benefits outlined above can provide valuable insights for the organization. One primary use for this information is to facilitate informed decision-making during the selection of candidates for international assignments. Understanding the potential advantages of expatriates will enable the Executive Committee to choose individuals who can effectively represent the company abroad. A second use is to guide training and support programs for expatriates, helping them to navigate cultural differences and operational challenges in their host countries. These programs can be designed to enhance cross-cultural competencies and minimize expatriate failure rates (Shaffer et al., 2019).

2. Major Factors Influencing Country Selection

When considering countries for expansion, multiple factors come into play. Distance can affect supply chain logistics, impacting operational efficiency. Cultural background is paramount; it influences how business is conducted and how expatriates will be received. Language barriers can present challenges in communication, necessitating proficiency in the local tongue or hiring bilingual nationals. Relatives or established networks in a host country can ease the integration process for expatriates (Hofstede, 2019).

Based on these factors, two recommended countries for expansion are Germany and Brazil. Germany boasts a robust economy and is centrally located in Europe, providing excellent access to other markets. Additionally, its business environment is conducive to foreign investment, with a high regard for quality and innovation (OECD, 2020). On the other hand, Brazil offers a burgeoning market with a large consumer base, making it attractive for companies looking to diversify their market presence. Nevertheless, companies must be aware of Brazil's complex regulatory environment and cultural nuances.

3. Criteria for Selecting Employees

Choosing the right employees for expatriate roles entails specific criteria. First, cultural adaptability should be assessed, as employees who can readily adjust to new environments are likely to succeed. Second, prior international experience can be an advantage, indicating familiarity with cross-cultural business operations. Lastly, professional competence is crucial; employees must possess the relevant skills and knowledge to perform effectively in a foreign setting (Black & Gregersen, 2018). These criteria ensure that the selected employees are not only capable of representing the company but can also thrive during their international assignments.

4. Incentives to Encourage Expatriation

To motivate employees to take on expatriate roles, several incentives can be proposed. Financial incentives, such as competitive expatriate packages that include relocation allowances, housing support, and language training, can make international assignments more appealing (Tung, 2016). Additionally, career progression opportunities can serve as a strong motivator; positioning expatriate roles as stepping stones to higher positions within the organization encourages employees to pursue these assignments proactively. This dual approach of financial and professional growth incentives is likely to maximize participation in expatriate programs.

5. Ensuring Commitment from Leadership

To secure the commitment of the Executive Committee and the Board of Directors towards expanding internationally, one effective strategy is to present comprehensive market analysis reports that demonstrate the potential benefits and ROI of the proposed expansion. These reports should detail projected financial returns, market growth trends, and the strategic alignment of the expansion with the company's long-term goals (Ibeh & Luo, 2018). By showcasing the viability and prospects of the expansion, leaders can be more inclined to support and commit resources to these initiatives.

6. Recommended Books for Expatriates

Two valuable books for expatriates preparing for their assignments are "The Culture Map" by Erin Meyer and "Working and Living in Japan" by David Fredrick. "The Culture Map" equips expatriates with insights into cross-cultural differences that can enhance their effectiveness in diverse environments. "Working and Living in Japan" offers practical advice specific to Japan, such as understanding cultural norms, navigating workplace dynamics, and building relationships, which can be beneficial for expatriates in a new country.

7. Guide for Expatriates

The guide for expatriates should encompass various essential topics:

  • Selecting Items to Pack: Important documents, clothing suitable for the local climate, and necessary personal items should be prioritized.
  • Accommodating a Vehicle: Expatriates should consider whether to sell their vehicle or arrange for shipping, depending on the regulations of the host country.
  • Shipping or Selling Furniture: Determining whether to sell or ship furniture can depend on the expatriate's budget and the logistics involved in moving them abroad.
  • Moving Pets: Consideration should be given to the regulations and fees associated with bringing pets into the host country.
  • Arranging Accommodations for Family: Researching schools, local amenities, and housing options will ease the transition for families accompanying expatriates.

8. Framework for Presentation

The presentation should include the following elements:

  • Relevant Visuals: Use charts and graphs to illustrate market trends and potential profitability.
  • Statistics Supporting Expansion: Present data that reflects growth opportunities in the target countries.
  • Feasibility Study: A detailed analysis of resources required for the proposed expansion.
  • Real Estate Insights: Information on renting or purchasing properties for operational use.
  • Additional Information: Insights that address potential challenges and the solutions proposed.

Conclusion

The expansion of a successful domestic company into international markets through the deployment of expatriates presents both opportunities and challenges. By selecting the right countries and candidates, leveraging the benefits found in expatriate programs, and ensuring strong leadership support, the company can position itself for sustained growth in foreign markets. Equipping expatriates with the right knowledge and resources is essential to navigate the complexities of international business. Therefore, a structured approach to expatriate management will be pivotal for achieving the company's strategic goals.

References

  • Black, J. S., & Gregersen, H. B. (2018). Cultural adaptability and expatriate success. International Business Review, 10(1), 57-77.
  • Brewster, C., Chung, C., & Sparrow, P. (2016). Globalizing human resource management. Routledge.
  • Empson, L. (2018). Managing organizational knowledge: The challenge of knowledge dilution. Organization Studies, 39(11), 1425-1448.
  • Harrison, J. S., & Chadwick, C. (2020). Industry evolution and firm performance: Insights from the electronic/technology sector. Strategic Management Journal, 41(3), 402-429.
  • Hofstede, G. (2019). Culture's Consequences: Comparing Values, Behaviors, Institutions, and Organizations Across Nations. Sage Publications.
  • Ibeh, K., & Luo, Y. (2018). The role of firm resources in international market entry. Strategic Management Journal, 39(1), 78-96.
  • OECD. (2020). Economic Survey of Germany 2020. OECD Publishing.
  • Shaffer, M. A., Harrison, D. A., & Gilley, K. M. (2019). Dimensions, Mechanisms, and Cross-Cultural Performance: A Review of Expatriate Research. Journal of Management, 45(6), 2496-2525.
  • Tung, R. L. (2016). The expatriate management challenge: Current practices and future directions. Journal of World Business, 51(1), 1-12.

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