Replying to student's post #1
Student has chosen to focus on cultural dimensions as a significant aspect of culture and a source of fascination for the student. The post establishes that technological advancement has helped to remove cultural barriers as individuals connect more for personal and business reasons. The post is quite informative since it employs personal experiences when it comes to dealing with people from other cultures. The writer affiliates with Latin American culture, but an encounter with Japanese culture proved tasking due to varied cultural dimensions. In as much as one can encounter culture shock, not all is lost since the internet offers valuable lessons that help one to become culturally competent. The post establishes that the internet is a tool that allows individuals and businesses to cross the existing cultural barriers and, in turn, form meaningful relationships. Student asserts that the management and respect of cultural differences allow for successful business transactions and improved interpersonal relationships.
Response to the Article Summary
Student has analyzed articles that focus on the applicability of cultural dimensions as they relate to the global business. The focus is on Yoo (2019), who analyses Hofstede's five-dimensional measures of cultural values, which is a measure for cultural dimensions. Yoo notes that the five dimensions are individualism/collectivism, uncertainty avoidance, power distance masculinity/femininity, and long-term orientation. The article establishes that the five-dimensional measure could be applied to managers and consumers to facilitate business transactions. It is important to note these dimensions determine how corporations conduct business across the national and global space. The reason for this proposition is the fact that each country espouses distinct cultures, which define business and personal relationships. The article aligns with course concepts on global business with culture determining how people view masculinity, distance, and power. Yoo's article is indicative of a culturally diverse and dynamic global business landscape that requires individuals and businesses to be culturally responsive.
Delegate your assignment to our experts and they will do the rest.
Reference
Yoo, B. (2019). Measuring Hofstede's five dimensions of cultural values at the individual level: development and validation of CVSCALE. Journal of International Consumer Marketing, 23(3), 193-210. DOI: 10.1080/08961530.2011.578059
Response to students' post #2
Student focuses on the concept of geographical scope as a significant aspect of global business discourse. The geographical scope is a term that is closely related to globalization as corporations strive to expand into the international market. The post provides a personal outlook considering that the writer hopes to work as a manager or a consultant for a global corporation. An understanding of the concept of the geographical scope allows corporations to understand how far they can expand their domestic and international markets. Businesses need to know how they can integrate their operations in foreign countries' economies. Moreover, companies need to understand how their brands will relate to existing brands and, in this way, creating practical brand imaging in the international market. The post acts as a roadmap for corporations, which would want to make global inroads into the foreign markets. These corporations must understand how far they can expand their operations and, in this way, enhance their sustainability and, in turn, profitability.
Response to an Article Summary
Global scope as an essential aspect of the worldwide business needs literature backing to make it a relevant element in the business discourse. Student has focused on an article that establishes the influence of geographical scope in driving retails firms' online sales. The article by Jonsson, Sharma and Tolstoy (2016) focuses on the relationship between a company's geographic scope and its e-commerce sales in the era of technology. While technology seems like the option for businesses that are embracing online sales, it is associated with technical barriers. The article notes that online sales are different from physical markets ad this difference influences how customers perceive product and services. In this case, then corporations are advised to expand their geographical scope to reach more customers who would otherwise would not benefit from online sales. The article aligns with the course readings that require businesses to center their operations on customers' needs preferences. An expansion of a business geographical scope provides customers with the requisite support system and in this way, contribute to the development of businesses to the international market.
Reference
Jonsson, A., Sharma, D., & Tolstoy, D. (2016, April 6). The influence of a retail firm's geographic scope of operations on its international online sales. International Journal of Electronic Commerce, 20(3), 293-318. https://doi.org/10.1080/10864415.2016.1121760
Response to Taylor Zorn's Post
Taylor Zorn focused on Gross Domestic Product (GDP) as it relates to the global business discourse as the course readings. The post establishes that GDP is a powerful economic tool that facilitates the analysis of economic growth across the globe. GDP focuses on the annual production, distribution, and sale of finished products and services in countries around the world. In this way, one could assert that GDP is a significant economic measure that determines a country's production as it relates to other countries. In the same way, GDP as a financial index helps countries to establish whether they are prone to inflation and other economic issues. The post is quite profound, considering that it provides personal insights into the applicability of GDP in understanding the global economy. Taylor establishes that the concept of GDP could not have been more significant than it is now in the wake of COVID-19, which has led to a global economic downturn. To this end, the post becomes quite relevant considering that GDP for most countries will be impacted as countries have instituted lockdown and social distancing measures.
Response to an Article Summary
Gross Domestic Product is a concept that has been studied repeatedly, considering that it is a significant global economic measure and index. Taylor has chosen to focus on an article by Armeanu et al. (2017) focuses on short term GDP forecasting to inform policies. More often than not, GDP is an annual forecast or better still a yearly measure of how countries perform economically. The article establishes that it is possible to conduct short-term forecasts using the generalized dynamic factor model (GDFM). The model is based on the principle of short-term economic growth that is aimed at eliminating over implementation. The best thing about this model is the fact that it helps countries to predict the status of economies at any particular time. This statement could not have been more significant than it is now in the wake of the COVID-19, which is threatening global GDPs. Most countries are not sure of the state of their economies, thus the need to use this GDFM model to predict the market. The article resonates with course readings since it highlights the importance of tracking GDP to ensure that the global economy is stable.
Reference
Armeanu, D., Andrei, J. V., Lache, L., & Panait, M. P. (2017). A multifactor approach to forecasting Romanian gross domestic product (GDP) in the short run. PLOS , 12(7), e0181379. doi: 10.1371/journal.pone.0181379.
