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Unit 5 assignment 3
- Institution
- PEARSON (PEARSON)
I used JLR to explain my own and unique reasoning for each individual heading within my assignment.
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Assignment 2 unit 5 part 2-Contents
Introduction- .......................................................................................................................................... 5
P6 ............................................................................................................................................................ 5
For P6 you need to explain how business support systems enable a business to trade internationally5
Research how the business you have chosen uses or could use the Internet to trade internationally.
Provide examples where possible (e.g. pics of website/social media in different languages to
evidence). ................................................................................................................................................ 5
Explain how the business you have chosen could use certain international payment methods to
trade internationally. Give examples of how each payment system could work for your chosen
business. Consider the advantages and drawbacks of each method for your business. ....................... 6
● Payment in Advance ........................................................................................................................... 6
Advantages.............................................................................................................................................. 6
Disadvantages ......................................................................................................................................... 7
● Letters of Credit .................................................................................................................................. 7
Advantages.............................................................................................................................................. 7
Disadvantages ......................................................................................................................................... 8
● Open Account ...................................................................................................................................... 8
Advantages.............................................................................................................................................. 9
Disadvantages ......................................................................................................................................... 9
● Consignment ....................................................................................................................................... 9
Advantages.............................................................................................................................................. 9
Disadvantages ......................................................................................................................................... 9
● International Credit Card .................................................................................................................. 10
Advantages............................................................................................................................................ 10
Disadvantages ....................................................................................................................................... 10
● International Bank Transfer.............................................................................................................. 10
Advantages............................................................................................................................................ 11
Disadvantages ....................................................................................................................................... 11
● Commercial Payment Systems ......................................................................................................... 11
Advantages............................................................................................................................................ 11
Disadvantages ....................................................................................................................................... 11
P7- ......................................................................................................................................................... 12
For P7 you need to explore the following cultural differences that affect international businesses.
Provide as many examples as possible, ideally from your chosen countries. ...................................... 12
,Language ............................................................................................................................................... 12
Ethnic make-up of populations ............................................................................................................. 12
Social structures .................................................................................................................................... 13
Religion ................................................................................................................................................. 13
Values .................................................................................................................................................... 14
Attitudes to business and work ............................................................................................................ 15
Openness to change.............................................................................................................................. 15
M3 Porter’s five forces ......................................................................................................................... 15
Threat of new entrants ..................................................................................................................... 15
Power of suppliers ............................................................................................................................ 15
Power of buyers/ bargaining power of customers ........................................................................... 16
Threat of substitutes products or services ....................................................................................... 16
Competitive rivalry............................................................................................................................ 16
M4 ......................................................................................................................................................... 16
For M4 you need to analyse how cultural differences affect international business .......................... 16
D3 .......................................................................................................................................................... 18
For D3 you need to evaluate the impact of cultural differences on international business: ............... 18
To evaluate you will need to make sure you cover the strengths and weaknesses / advantages and
disadvantages, the significance of each, leading to you drawing conclusions. Will the cultural
differences be beneficial or create challenges requiring the business to change?Link to my chosen
countries ............................................................................................................................................... 18
• Contract negotiations ........................................................................................................................ 18
What’s impacts on business & how would they adapt?/what’s the significance of each? .............. 19
What’s the advantages & disadvantages of negotiating contracts in 2 countries? ......................... 19
Research how to negotiate contracts with customers within a selected country ............................ 19
What do I know about my countries’ social structures & attitudes to business ............................... 20
Mexico ............................................................................................................................................... 20
Social structure ................................................................................................................................. 20
Attitude towards the business .......................................................................................................... 20
SK....................................................................................................................................................... 20
Social structure ................................................................................................................................. 20
Attitude towards the business .......................................................................................................... 21
Alternative solutions ......................................................................................................................... 21
• Composition of the workforce (consider operational staff and different functional areas e.g.
marketing, legal, human resources, accounts, IT etc............................................................................ 21
Would you send your workforce abroad or use local people for their knowledge and
understanding of the area and business expectations? ............................................................... 21
, Does technology allow the collaboration between countries? Think about what you already
know about your countries in terms of language, ethnic population, religion, values, etc ......... 21
What are the advantages/disadvantages of choices on composition of the workforce in the two
countries? What are the impacts on the business and how much would they have to adapt? . 22
• Management style ............................................................................................................................. 23
Which management style works in the countries chosen, eg autocratic, democratic, laissez-
faire? ............................................................................................................................................. 23
Does this differ from the existing management style of your chosen business? ......................... 23
What are the advantages/disadvantages of choice of management style in the two countries?24
South Korea (both Paternalistic & Hierarchical) ......................................................................... 24
Advantages.................................................................................................................................... 24
Disadvantages ............................................................................................................................... 25
Mexico (Autocratic & paternalistic) ............................................................................................. 26
Advantages.................................................................................................................................... 26
Disadvantages ............................................................................................................................... 26
What are the impacts on the business and how much would they have to adapt? .................... 27
• Workforce practices ........................................................................................................................... 27
Research workforce practices in your two countries. .................................................................. 27
.......................................................................................... 27
What are the advantages/disadvantages of choice of workforce practices in the two countries?
What are the impacts on the business and how much would they have to adapt? .................... 27
• Organisational culture ....................................................................................................................... 29
What’s the impact of Mexico’s culture upon Nando’s? what’s the impact of this factor upon the
international business’s current culture? ..................................................................................... 29
What’s the impact of SK’s culture upon Nando’s? what’s the impact of this factor upon the
international business’s current culture? ..................................................................................... 29
Research organisational culture in your two countries. ................................................................... 29
What are the advantages/disadvantages of organisational cultures aspects in the two
countries? What are the impacts on the business and how much would they have to adapt? . 30
Strengths ........................................................................................................................................... 30
Weaknesses ...................................................................................................................................... 30
• Marketing strategies and brand names............................................................................................. 30
Do you trade with the same brand name or translate it? ............................................................ 30
Does the brand have negative connotations? .............................................................................. 30
Research how to portray your brand name in your two countries. ............................................. 30
, What are the advantages/disadvantages of brand name choices in the two countries? Does it
build on existing reputation or start afresh? What are the impacts on the business and how
much would they have to adapt? ................................................................................................. 31
Strengths ........................................................................................................................................... 31
Weaknesses ...................................................................................................................................... 32
• Advertising ......................................................................................................................................... 32
Can the existing advertising be used in your two countries? Hand gestures in advertising have
different meanings. ........................................................................................................................... 32
Review/ analyse how your advertising would work in your two countries. ..................................... 32
For SK & Mexico ............................................................................................................................... 32
Are there advantages/disadvantages? What are the impacts on the business and how much
would they have to adapt? ............................................................................................................... 33
Strengths ........................................................................................................................................... 33
Weaknesses ...................................................................................................................................... 33
Conclusion-............................................................................................................................................ 34
References ............................................................................................................................................ 35
Bibliography .......................................................................................................................................... 43
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