International business Research Paper Example | Topics and Well Written Essays - 1000 words

International business - Research Paper Example The analysis has been done in terms of the nations’ political and economic climate, their methods of marketing and distribution and also the labor climate in the two countries. Economic and political climate for foreign business Singapore has an extremely successful and developed free market economy. It also offers a corruption free and open environment where prices remain stable and the per capita GDP growth also remain high in comparison to other developed nations. The economy’s high dependence on exports of products like electronic and information technology products, pharmaceutical and growth in financial services make it a popular place for conducting business. The nation has demonstrated a GDP growth of 7.1% between the years 2004 and 2007 (CIA, â€Å"Economy - overview:†). On the other hand Hong Kong also demonstrates a free market economy which depends highly on international finance and trade. The nation’s open economy was however greatly affected by the global economic recession which makes it a less popular place, in comparison to Singapore for doing business. The residents of Hong Kong can establish RMB denominated savings accounts, the RMB denominated corporate, and the Chinese government bonds have also been issued in the nation. Moreover, the RMB trade settlement has also been allowed in Hong Kong. The nation has a GDP growth rate of 3.8% between 1989 and 2010, however the growth gradually slowed down in the year 2009 (CIA-a, â€Å"Economy - overview:†). It is apparent that the higher GDP growth of Singapore in comparison to Hong Kong coupled with a free market economy makes it more popular for conducting business operations. Also the nation’s growth in the financial sector and high dependence on trade and finance compliments the same. Methods for marketing and distribution With improvement of the Singapore economy there has been an increasing amount of affluent consumers who are able and willing to spend and consume more. In addition to this a number of new shopping malls like the VivoCity, Ang Mo Kio Hub and Central have emerged which have further added stimulus to the retail sector since 2007. The existing shopping malls like Centrepoint, White Sands and Tampines Mall have also been revamped, with the new extensions established to accommodate more number of retailers for remaining competitive. The inflows of new retailers in the selling spaces have further attracted more consumers who have been increasingly visiting them. This had boosted their growth further in 2007 (Laposte, â€Å"Singapore†). There are two different categories of consumers in the country Hong Kong. There are the local consumers, who account for 6.5 million numbers, while on the other hand the tourists, who are avid lovers of the luxury items. The tourism sector generates greater than ten billion USD of income every year. It must be noted that tourists who come for shopping in Hong Kong are primarily Chi nese from Mainland. The distribution network comprises of many medium and small family-type enterprises which try to remain in groups. The larger stores like the Lane Crawford, Sogo or display a very upscale image while the supermarkets and the neighboring stores like Wing on, Jusco and Sincere remain more profitable for making bulk products. The second market is more dominated by duopoly by Wellcome and Park'n shop. Hong Kong also has a number of discount stores

Talent Management Strategy Term Paper Example | Topics and Well Written Essays - 1500 words

Talent Management Strategy - Term Paper Example Conversely, it is through courtesy of proper talent management strategies that organizations have sprang from small corporate fledglings, to reputable multinationals. The blueprints of proper talent management may be seen in the ensuing discourse. Introduction The organization in point is a profit-making business entity which deals in food and beverages. The organization is still in the process of growth and development as it comprises 200 employees, of which 20 are identified as leaders and may be called Swift Foods Ltd. In itself, talent management denotes the anticipation of essential human capital that an organization may need at a given time, then setting a plan and then carrying out that that plan to meet organizational needs. So sacrosanct is talent management in aiming at specific performance target that it has become the science of employing strategic human resources [HR] to strengthen organizational value and to help the organization reach its value. Determining the Key Com ponents of Talent Management, Including Identifying, Assessing, and Developing Talent There are several components of talent management. The first component involves identification. ... Apart from academic credentials, Swift Foods Ltd may use overall individual performance of the potential recruit in the interview, experience and letters of recommendation, among others. Academic credentials for instance will help Swift Foods Ltd ascertain formal skills and expertise an individual candidate possesses, in light of the office to be filled, while experience will help the organization determine the degree of the candidate's ability to perform. Testimonials for instance will help ascertain the behavioral predisposition that a given candidate possesses, in relation to the role that he is to discharge. All these factors will be important in identifying talent since talent is an element compounded by other desirable attributes such as personal traits, skills and abilities. The second component of talent management is the assessment of talent. This involves, setting performance target for an employee and then analyzing his actual performance against the already-set target. It is from this juncture that measures may be taken to uphold and enhance the talent that is extant and to inculcate upon the employee, new talents that are desired in the organization. To develop talent, there are several strategies and approaches that may successfully apply. Swift Foods Ltd can use the compensation management system, where it maintains competitive remunerations while managing payroll costs, total compensation, compensation for planning and awarding and pay-for-performance arrangements. Going by the recommendations that Fayol (2010) makes, the organization can also use global human resources that help maintain and manage core elements of the global workforce- county-specific attributes also included. Swift Foods Ltd may