International Business Management/C – Assignment 2: Country Profile

International Business Management/C – Assignment 2: Country ProfileC – Assignment 2: Country Profile
Hurdle requirement: Each group member must individually submit the section they contributed to the assignment (about 1000 words)
Further information about Assignment 2 will be placed on CloudDeakin.

1. Description of the task

Assignment 2 requires you to develop a COUNTRY PROFILE (or scenario) of South Korea for Villiers, which is interested in exploring opportunities in that country. See the A – Assessment Overview document for information about Villiers.

This assignment requires you to imagine you are an individual, or a group of, international business consultants, who work for Villiers and have been asked to advise on taking the company into South Korea. You must try to look at the situation from Villiers’s point of view, and examine the business environment of South Korea through Villiers’s requirements, their company and their industry.

You need to write a Report presenting a current (2016) scenario of South Korea, plus a forecast based on this scenario for 4-5 years, to 2021. This assignment is PRACTICAL and requires you to identify the criteria you need to consider, such as economic, political, foreign direct investment, financial, legal and sociocultural factors in particular, as addressed in the first five topics of the Unit. The purpose of this assignment is to get you to apply what you are learning in the subject to this case study.

We want to know about the current South Korean environment and whether it would be a suitable environment to set up a new part of the business. We expect that from your data you will be able to form an opinion on whether or not South Korea is suitable for your company to enter as a new market. If it is not worth entering at the moment, is it worth considering over the next four or five years

We require accurate, timely and relevant data and analysis of the significance of this data. In addition, we will assess you on your reasoning as to the suitability of South Korea as a country for entry: for example, factors such as economic growth, the cost of labour, the infrastructure, the political and se¬¬curity environment, the government’s rules around foreign investment and whether there are any government incentives for foreign direct investment, and so on. As consultants you would want to advise your company about the environment and whether there are any major problems, e.g. the economy overheating (inflation rates), economic growth rates, legislation preventing foreign ownership of land or operations, major corruption which is almost impossible to overcome, and so on. You have to take material from Topics 1-6 which relates to the situation of Villiers.

You are also required to briefly forecast what the South Korean environment will be like in 2021.

We don’t only want to know for the next 3 months but we need you to think about the next four to five years. It is unlikely that you can really set up a business in under a year so you would need to have some knowledge of what is likely to happen over the next few years. We don’t expect you to be able to predict the future. But we do expect you to look at the political situation of the country and say, for example, whether there is going to be an election and what the most likely scenarios are, or economically what is likely to happen over the next few years. You are evaluating the business risks and trying to position your business. We will reward you in this section for using the data (not just reporting it) and making educated predictions, which are supported with logical explanations.

Report content

Environmental factors, guided by material from
Topics 1-6
Current scenario
(2016) Future scenario (2021)

Report structure

• Executive summary
• Introduction
• Economic
• Political
• Legal
• Foreign Direct Investment
• Financial
• Sociocultural
• Conclusions
• References
• Appendices, including an Assumptions Appendix

What not to do!

• Please do not give us an account of what Villiers should do or identify the models you could use for entry into the South Korean market. These come in Assignment 3. Assignment 2 requires you to find and interpret the facts and figures and prepare a country profile of South Korea. Assignment 2 is about South Korea, not about Villiers.

• Please do not include any recommendations, as this is a country profile (that is, a description of a country) not a proposal for market entry.

• Please do not give a detailed account of the industry in South Korea – that belongs in Assignment 3.

2. Format of assignment

The aim of the assignment is to present a formal written report with headings and a clear logical structure. You should also include a full list of the references that have been cited in the body of the report. Only include information in your appendices that has been directly referred to in the body of your document. Make sure that you actually refer to each appendix in the body of the report. You are encouraged to keep important information, tables and graphs in the main part of the report.

A formal report should consist of:

1. A title page containing the unit title and code, lecturer’s name, and the names and student ID numbers of all members of the assessment group and word count of your main document (word count is from the introduction to the conclusion.)
2. An executive summary – that is, a summary of the whole report; it should include the findings of the report not just what was covered, and it should be no longer than one page
3. A table of contents with section numbers and page numbers
4. An introduction describing the purpose and scope of the report, the background of the organisation, the research methodology, and any limitations or assumptions in the report, if appropriate
5. The body of the report describing, analysing, and evaluating the broad business environment of South Korea in relation to the company and linking this to relevant theory and best practice
6. Conclusions, to contain a broad summary of what you have found and any general comments you may have on the country.
7. References
8. Appendices – You must include all critical material for your particular business in the body of the report. Place other important information in individual appendices. You will need to refer to each appendix in the body of your report, and they need to be numbered accordingly, i.e. Appendix 1, Appendix 2, etc.

3. Helpful Hints

Connection to assignment 3

The collection and analysis of this information and data is the first step to enable you to make the recommendations for action in Assignment 3 (which will include industry analysis, strategy, structure, entry modes and so on).

Writing style

Your report should be written using a formal and impersonal style. Slang terms (e.g. awesome) and contractions (e.g. didn’t; won’t) should be avoided. Colloquial words and expressions used in everyday spoken language (e.g. above board for legitimate) are also inappropriate.

The appropriate impersonal tone (avoiding the use of I, we, me, my) can be achieved by using the passive voice (e.g. were specified; it is suggested), which focuses on what was done, rather than who did it. While you are expected to develop an argument and express your opinion, strong and emotive expressions of opinion and attitude are also inappropriate in a formal written report. See http://unilearning.uow.edu.au/academic/2e.html for advice on academic writing styles.

Assumptions

It is acceptable in Assignment 2 to make realistic and reasonable assumptions to enhance the information provided about the company and the country in the Assessment Overview document. These assumptions are a matter for your judgement, but it is a requirement that you report your assumptions in an Appendix, together with some brief justification of them.

Marking rubric

A copy of the marking rubric is provided at the end of this document. You may use this to help you prepare your report. The rubric will be used to assess and provide feedback on your work. Please note all assessment tasks are scored out of 100, and are then scaled to the percentage value of each assessment. Assignment 2 is worth 40% of the marks for the Unit.

4. Assignment 2 Checklist – Villiers to South Korea

A list of all the points you need to consider in completing Assignment 2 is provided below.

This list is quite comprehensive: you may dismiss some of these points as not being important for the company and the country you are considering, but you should at least briefly think about them all.

Remember that for all of these points, the important thing is the effect they have on doing business. Providing only data is of limited value: analysing the data to find its likely impact on business is what matters. For example, from our study of Romania last year: “data shows that GDP per capita has been growing at 5-7% each year for 3-4 years”. Interesting perhaps, but what effect has it on business Analysis of this concludes “Thus in five years per capita income will probably be about one-third higher than at present, which suggests a good growth market for consumer goods”. Note: data first, then analysis of that data to highlight its direct relevance to business.

Without this analysis you will NOT get good marks.

Dr Murray Frazer Revised February 2016

Executive summary Yes No
Provides findings on all factors and summarises the report in no more than one page.
Introduction
Company profile
Scope/parameters of the report
Methodology
Limitations of report
Economic factors
Economic policy of the Government
GDP & GDP Growth (Trend)
Per capita income (Trend)
Inflation as measured by CPI(Trend)
Unemployment (Trend)
Infrastructure
Tariffs – relevant (if any)
Current Account (Trend)
Trading partners and key imports and exports
Trade agreements
Political
Type of Government
Government structure and how it operates
International relations with other countries
Political risk associated with the country
Level of corruption
Legal
Legal system and how it works
Government rules and regulations for establishing a foreign business
Ownership of business, land and office
Labour/employment law
FDI
History of FDI in the country including:
Inflow /outflow amounts/where it comes from
Industry access for the Company
Government rules and regulations concerning FDI
Government incentives or any special economic zones
Finance
Banking system and types of banks in the country
Access to finance (refers to Foreign Company’s access to finance in country)
Interest Rates
Type of Exchange Rate System and currency (trend data)
Repatriation of profit regulations
Taxation rules
Sociocultural
Key values and traditions
How business is done in the country
Hofstede’s dimensions on the country in comparison to Australia
Holidays
Language and communication styles
Religion and social stratification/structure of society
Forecast
All factors are forecasted where possible and logical
Conclusions (Note: No recommendations needed for Assignment 2)
All data presented in the report is analysed and evaluated.
The report concludes appropriately and is coherent and logical.
Overall
The report is fact-based and can be used to guide assessment of the market for the company
The file being submitted is a docx file and is named ‘Group # – MPM735 – Assignment 2 FINAL’
MPM 735: ASSIGNMENT 2 RUBRIC
YET TO ACHIEVE MINIMUM STANDARD MEETS STANDARD EXCEEDS STANDARD
Fail (N) /0-49
Poor/unacceptable/Not attempted/requires further development/needs improvement Pass (P)/ 50-59
Acceptable/Satisfactory /Proficient Credit (C)/60-69
Good/Well done Distinction (D)/ 70-79
Very good/ exceeds expectations High Distinction (HD)/80-100
Excellent/exemplary/exceedingly high standard

CRITERION
1 – Executive Summary
(6 marks) Displays little/no understanding of what an executive summary should contain; no findings provided.
0 -1 mark Displays incomplete understanding of what an executive summary should contain; very few findings provided.
2 marks Provides an acceptable summary presenting some of the findings.

3 marks Provides a good summary presenting a number of findings.

4 marks Provides a very good summary presenting most of the findings.

5 marks Provides a comprehensive summary presenting all findings.

6 marks
2 – Intro-duction
(6 marks) Provides no/very minimal company background, very poorly articulates the scope of the report and the research methodologies and does not critically analyse the quality of data collected.
0 -1 mark Provides minimal company background, poorly articulates the scope of the report and the research methodologies used, and does little to critically analyse the quality of data collected.
2 marks Provides an acceptable company background, articulates the scope of the report and the research methodologies used to an acceptable standard and comments on the quality of data used.
3 marks Provides a good company background, articulates the scope of the report and the research methodologies used to a good standard and comments on the quality of data used.
4 marks Provides a very good company background, clearly articulates the scope of the report and the research methodologies used to a very good standard and comments on the quality of data used.
5 marks Provides an excellent company background, very clearly articulates the scope of the report and the research methodologies used to an excellent standard and critically analyses the quality of data used.
6 marks
3 – Content, analysis & reasoning (economics, politics, legal, FDI, finance and sociocultural sections)

(42 marks) Displays no/very little understanding of key concepts/theory, the application of those to the country analysed, including a forecast of that information and from the perspective of the case organisation. No/few arguments are made in regard to the data.
0-7 marks Displays an inconsistent understanding of key concepts/theory, the application of those concepts to the country analysed, including a forecast of that information and from the perspective of the case organisation. Poor arguments are made in regard to the data.
8-14 marks Displays a satisfactory understanding of key concepts/theory, the application of those concepts to the country analysed, including a forecast of that information and from the perspective of the case organisation. Satisfactory arguments are made in regard to the data.

15-21 marks Displays a good understanding of key concepts/theory, the application of those concepts to the country analysed, including a forecast of that information and from the perspective of the case organisation. Good arguments are made in regard to the data.
22-28 marks Displays a very good understanding of key concepts/theory, the application of those concepts to the country analysed, including a forecast of that information and from the perspective of the case organisation. Very good arguments are made in regard to the data.

29-35 marks Displays an excellent understanding of key concepts/theory, the application of those concepts to the country analysed, including a forecast of that information and from the perspective of the case organisation. Excellent arguments are made in regard to the data.

36-42 marks
4 – Conclusions
(6 marks) Makes no/very poor conclusions which do not critically analyse and evaluate the information presented in the report.
0 – 1 mark Makes inconsistent conclusions, which do not critically analyse and evaluate the information presented in the report.
2 marks Makes acceptable conclusions, which critically analyse and evaluate some information presented in the report.

3 marks Makes good conclusions, which critically analyse and evaluate some information presented in the report.
4 marks Makes very good conclusions, which critically analyse and evaluate most information presented in the report.
5 marks Makes excellent conclusions, which critically analyse and evaluate all information presented in the report.

6 marks
5 – Overall knowledge of cultural worldview frameworks
(6 marks) Demonstrates no/very little understanding of the complexity of elements important to members of a different culture in relation to its history, values, politics, communication styles, economy, and beliefs and practices.
0 -1 mark Demonstrates little understanding of the complexity of elements important to members of a different culture in relation to its history, values, politics, communication styles, economy, and beliefs and practices.

2 marks Demonstrates acceptable understanding of the complexity of elements important to members of a different culture in relation to their history, values, politics, communication styles, economy, and beliefs and practices.

3 marks Demonstrates good understanding of the complexity of elements important to members of a different culture in relation to their history, values, politics, communication styles, economy, and beliefs and practices.

4 marks Demonstrates very good understanding of the complexity of elements important to members of a different culture in relation to their history, values, politics, communication styles, economy, and beliefs and practices.

5 marks Demonstrates excellent understanding of the complexity of elements important to members of a different culture in relation to their history, values, politics, communication styles, economy, and beliefs and practices.

6 marks
6 – Use of literature, and evidence of multiple sources
(6 marks) Uses a very poor quality and variety of sources. Not all relevant sources of information are used, and there is a reliance on one type of source.
0 -1 mark Uses a poor quality and variety of sources. Not all relevant sources of information are used, and there is a reliance on one type of source.

2 marks Uses an acceptable quality and variety of sources, including journal articles, textbooks, business databases, professional reports, internet and media.
3 marks Uses a good quality and variety of sources, including journal articles, textbooks, business database sources, professional reports, internet and media.
4 marks Uses a very good quality and variety of sources, including journal articles, textbooks, business databases, internet, professional reports, internet and media.
5 marks Uses an excellent quality and variety of sources, including journal articles, textbooks, business databases, professional reports, internet and media.

6 marks
7 – Practicality of assignment
(6 marks) The report is not practical, and cannot be used by industry to make an entry decision. Significant improvement is needed to make it practical.

0 -1 mark The report is somewhat practical, and only some parts can be used by industry to make an entry decision. Significant improvement is needed to make it more practical.

2 marks The report is practical to a satisfactory level, and some parts can be used by industry to make an entry decision.

3 marks The report is practical, and most parts can be used by industry to make an entry decision.

4 marks The report is practical, and can be used by industry to make an entry decision.
5 marks The report is extremely practical, and can be used by industry to make an entry decision.
6 marks
8 – Organisation & Presentation

(6 marks) Organisation and presentation is of a poor standard. The report is mostly unprofessional, unclear and not set out well. Table of contents, headings, diagrams and appendices are non-existent or poor. The report does not engage with the reader.

0- 1 mark Organisation and presentation is mainly not of an adequate standard. The report is sometimes unprofessional, unclear and not set out well. Table of contents, headings, diagrams and appendices are poor. The report mainly does not engage with the reader.

2 marks Organisation and presentation is of an adequate standard. The report is mainly professional, clear and well set out. Table of contents, headings, diagrams and appendices are of an acceptable level. The report sometimes engages with the reader.

3 marks Organisation and presentation is of a good standard. The report is professional, clear and well set out. Table of contents, headings, diagrams and appendices are good. The report engages with the reader.
4 marks Organisation and presentation is of a very good standard. The report is very professional, clear and well set out. Table of contents, headings, diagrams and appendices are very good. The report engages with the reader.
5 marks Organisation and presentation is of an excellent standard. The report is extremely professional, clear and well set out. Table of contents, headings, diagrams and appendices are excellent. The report engages highly with the reader.

6 marks
9 – English proficiency
(6 marks) Uses very basic English marred by errors that frequently impede meaning.
0 -1 mark Uses basic English marred by errors that frequently impede meaning.
2 marks Uses straightforward English that conveys meaning most of the time, even though there may be occasional errors.
3 marks Uses straightforward English that conveys meaning, even though there may be occasional errors.
4 marks Consistently uses fluent English that communicates meaning with clarity, and is virtually error-free.

5 marks Consistently and effectively uses fluent English that communicates meaning with a high level of clarity and is virtually error-free.

6 marks
10 Referencing

(6 marks) Referencing is very poor and needs significant improvement. Many sources are uncited and may use not use the Harvard referencing style. The reference list is presented in an incorrect and inconsistent format. Turnitin reports show many direct matches, sometimes without citations.

0 -1 mark Referencing is poor and needs improvement. Sources are poorly cited, and may not use the Harvard referencing style. The reference list is presented in an incorrect and inconsistent format. Turnitin reports show some direct matches, sometimes without citations.
2 marks Referencing is of a satisfactory standard. Many sources are cited correctly, using the Harvard referencing style. The reference list is presented in a reasonably clear and consistent format and not missing many references. Turnitin reports show a few direct matches, apart from direct quotes and reference list entries.

3 marks Referencing is of a good standard. Most sources are cited correctly, using the Harvard referencing style. The reference list is presented clearly using a consistent format and not missing many references. Turnitin reports show only a few direct matches, apart from direct quotes and reference list entries.
4 marks Referencing is of a very good standard. Most sources are cited correctly, using the Harvard referencing style. The reference list is presented very clearly using a consistent format and not missing any references. Turnitin reports show only a few direct matches, apart from direct quotes and reference list entries.
5 marks Referencing is exemplary. All sources are cited correctly, using the Harvard referencing style. The reference list is presented very clearly using a consistent format and not missing any references. Turnitin reports show no direct matches, apart from direct quotes and reference list entries.

6 marks
11 – Overall Thoughts

(4 marks) This assignment is very poor. Major and significant improvements are required to get it to a pass level.
0 mark This assignment is poor. Improvements are required to get it to pass level.
0 mark This assignment is acceptable. It meets the minimum overall standards.
1 mark This assignment is of good quality. Some improvements can be made.

2 marks This assignment is very good, and I am impressed!
3 marks This assignment is excellent and has the wow factor!
4 marks
Overall Mark _______out of 100% Overall Mark _______out of 40 Overall Grade______