University of Windsor Business in Japan Paper This project requires considerable reflection and supporting research. I choose Japan Profile, and I need to

University of Windsor Business in Japan Paper This project requires considerable reflection and supporting research. I choose Japan Profile, and I need to finish key challenges+recommendations+implementation (single space), there are 3 pages in single space.

Key Challenges (10 %)

Identification of Key Challenges in Operating a business in this country

Recommendations (10%)

* Should a company operate a business in this country? Why or why not?

§ Justification and Integration of recommendations

Implementation (20%)

* Discuss how a company should go about investing or operating a business in this country

§ Detailed + practical action to put recommendations in place (both short & long-run)

§ Timeline of sequence of actions,

§ IF your recommendation is NOT to operate a business in this country or not to invest in this country, discuss the following:

a)What changes that the country need to make in order to make the country more attractive for businesses and investments.

Be specific, be factual, and be realistic.

b)How these changes (realistically) can be made.

I have uploaded the requirement and sample assignment below, and I will provide you my current process of my assignment if we get contact, thank you!! Country Profile Assignment:
The project will be completed in your groups. Start discussions early and move fast. This project
requires considerable reflection and supporting research. Do not leave the project until the last weeks of
the semester. The report is due electronically to SafeAssign (Course BlackBoard). Late submissions
will NOT be accepted.
The report should be a maximum of 15 pages in length, single-spaced with 1-inch margins in a 12-font
type, NOT including the title page and references but including all appendices. Any project exceeding the
maximum page count will receive a one-grade deduction for each page or part of a page longer than the
limit.
Form + Style
(10 %)
▪ Grammar, spelling + readability
▪ Effective use of statements
▪ Professional appearance, e.g., page numbers
and titles for tables, charts + appendices
▪ Integration between sections of report
Data Collection
(10%)
* Basic data on the country such as population
size; educational level; income related
information; political environment; level of
corruption; social and economic condition;
exchange rate; mobility of funds; etc.
*There are numerous relevant facts online.
Analysis
(40%)
▪ Correct use of concepts + frameworks from
the textbook to help you analyze the business
environment in the country.
▪ Use of qualitative + quantitative data to
analyze the country in terms of pros/cons of
operating a business in the country.
▪ Insightful evidence-based development and
evaluation of the country, as opposed to
simply repeating the facts
▪ Effective summation of external +internal
analysis. Your opinions and thoughts about
operating a business in the country is
important!!
A
Very Good Excellent
B
Good
C
Fair
Criteria
(Weight %)
D
Poor
Letter Grade
Odette Grading Policy
F
Very Poor
Format and Rubric for Written Country Profile Assignment
Comments
Key Challenges
(10 %)
Identification of Key Challenges in Operating a
business in this country
Recommendations
(10%)
* Should a company operate a business in this
country? Why or why not?
▪ Justification and Integration of
recommendations
Implementation
(20%)
* Discuss how a company should go about
investing or operating a business in this country
▪ Detailed + practical action to put
recommendations in place (both short & longrun)
▪ Timeline of sequence of actions,
▪ IF your recommendation is NOT to operate a
business in this country or not to invest in this
country, discuss the following:
a) What changes that the country need to
make in order to make the country more
attractive for businesses and investments.
Be specific, be factual, and be realistic.
b) How these changes (realistically) can be
made.
Tracking Group Member Contributions
The general outcome of the vast majority of group projects is that team members agree, on balance, work
has been contributed in a comparable fashion. The preceding statement leaves open to interpretation
possible differences in talent and abilities, schedules, interests, and personal commitments, and their
impact on the completed work. As well, on a number of occasions, group members exhibit unequal
expectations and abilities to work. Groups that work well, by definition, communicate and cooperate
effectively.
However, in very rare instances, a group member does shirk his or her work requirements completely or
nearly completely. A form has been devised to capture the outliers and to provide a means of resolving
the injustice of granting the same grade to all members of a group. Grades for the group assignment will
be affected by the degree to which contribution nears or equals none. Penalties will vary proportionately,
increasing in severity as the contribution of the shirking member approaches nothing. Deductions will
range from 50% to 90% of the group’s grade for a very substantial to a nearly complete lack of
contribution. A grade of ‘0’ will be assessed for a total lack of contribution— within the conditions
stipulated below.
This form is not intended, nor will it be used, for punishing individuals who simply did not work well
together— because of personality clashes or the poor planning of those involved. Moreover, a failure to
communicate with the instructor early enough in the term so as to deal with a member or members who
are not properly contributing to group-work will be viewed as a failure of all.
This form and the remedy attached to it, to be fairly applied, require a full audit of all those who
contributed to group work. Therefore, every member of the group will be held accountable, if claims are
forwarded of egregiously unequal contributions to group work. No statement will be taken as truth without
confirmation. As a result, all group members are encouraged to interact in ways that are open to audit.
In other words, e-mails and meeting attendance, for example, will be important methods for tracking
contributions. As well, make clear, from the beginning, the expectations and abilities of those involved.
Contribution will be judged according to two basic modes: participation and performance. Participation will
be measured in the following ways: regular attendance at meetings; punctuality; engagement in group
discussions; preparation for group meetings; contributions to data collection, analysis and report writing.
Performance will be gauged in the following manner: work delegated by the group that is completed in a
timely fashion, contributions of personal-best quality written work and/or ideas, completion of a
comparable amount of work in supporting the projects, and cooperation with other group members.
If problems with contribution occur and cannot be rectified, all members of a group must fill in and
separately submit the attached forms for the written group assignments. Groups that are working relatively
well will simply submit their reports without the forms. The understanding is that the grade will be shared
equally. For those groups with a fundamental and severe “free rider” problem, an audit will be triggered in
instances in which three or more group members are unwilling to share the grades equally. However, to
reiterate, no action can be fairly taken if the situation is allowed to persist without early communication
with the instructor. Oftentimes, face-to-face discussion can reverse the situation.
Country Profile Assignment: Singapore
Odette School of Business
Master of Management
BSMM 8310: International Business
Instructor: Dr. Jonathan Lee
Team Members
Aqib Akter Nizam
110017037
Harleen Kaur
105168461
Namrata Sonavaria
105094717
Rasha Mohammedbasheer 105165626
Shikha Mehta
105090094
International Business
Table of Contents
Singapore: The City-State…………………………………………………………………………………………………………………………….. 3
Analysis of Singapore …………………………………………………………………………………………………………………………………… 5
PESTLE Analysis ………………………………………………………………………………………………………………………………………….. 5
Role of Government: Economic Freedom ……………………………………………………………………………………………………… 7
Rule of Law ……………………………………………………………………………………………………………………………………………….. 7
Corruption: ……………………………………………………………………………………………………………………………………………….. 7
Education Industry in Singapore:………………………………………………………………………………………………………………….. 7
Singapore’s spending on Education Sector ……………………………………………………………………………………………………. 7
Singapore’s Free trade Agreement……………………………………………………………………………………………………………….. 8
Trade Control …………………………………………………………………………………………………………………………………………….. 8
Trade Barriers ……………………………………………………………………………………………………………………………………………. 9
Trade Relations with Canada ……………………………………………………………………………………………………………………….. 9
Connecting to the World – Singapore as a hub port ………………………………………………………………………………………… 9
Foreigners starting business in Singapore ……………………………………………………………………………………………………… 9
Human Resources Rules for Foreign Workers ………………………………………………………………………………………………. 10
Collectivism or Individualism ……………………………………………………………………………………………………………………… 10
Forex Risk Management in Singapore …………………………………………………………………………………………………………. 11
Exchange Controls ……………………………………………………………………………………………………………………………………. 11
Type of Business we can Start in Singapore …………………………………………………………………………………………………. 11
Key Challenges while Registering Business in Singapore ……………………………………………………………………………… 13
Recommendations………………………………………………………………………………………………………………………………………. 14
Implementation ………………………………………………………………………………………………………………………………………….. 16
Standardization and localization ………………………………………………………………………………………………………………… 17
Conclusion …………………………………………………………………………………………………………………………………………………. 17
References …………………………………………………………………………………………………………………………………………………. 18
2
International Business
Singapore: The City-State
Singapore is unique in its own kind in the world as it is called, “Country-city-island”. It is among one
of the three sustaining city-states in the world, after Monaco and Vatican City. The meaning of city-state is
that the whole territory is ruled by an individual city. It has a population of over 6 million. Singapore has the
maximum proportion of millionaires as compared to other developed countries. (BBC, 2018)
Singapore is also known as ‘Lion City’ and ‘Asian Tigers’. The logic behind why it is called ‘Lion
City’ is from the Malay words termed as “Singapura’. The word ‘Singa’ means lion and ‘Pura’ means city. It
is recognized as ‘Asian Tigers’ because the country reached immense growth rate and rapid industrialization
during 1960 to 1990. Therefore, Singapore prospered very swiftly in contrast to other developing nations.
❖ Ethnicity: Chinese with more than 75% of the multi-racial inhabitants are the predominant race in
Singapore with Malays (13.4%) and Indians (9%) making up much of the remainder. Most of its people
live in public-housing tower blocks. Its trade driven economy is mostly aided by foreign labourers. In
2013, the government predicted that by 2030, immigrants will make up more than 50% of the populace.
❖ Languages: Singaporeans use exclamations such as ‘leh’ and ‘lah’ while speaking. Therefore, they
consider their language as ‘Singlish’ instead of ‘English’. The most spoken official languages in Singapore
are English (Singlish) considering 36.9% followed by Mandarin (34.9%) and other Chinese dialects
(12.2). The percentage of Malay speaking population is approximately 10.7%.
❖ Life expectancy: Singapore is at fourth rank among top ten countries having the highest life expectancy
rate which is currently expected to be 79 years for men and 84 years for women due to its medical facilities
and family-oriented environment. (BBC, 2018)
❖ Religion: Talking about the religions in Singapore, the dominant religion practiced in Singapore is
Buddhism at 33.2%, superseded by Christian 18.8%, Muslim and Taoist at 14% & 10% respectively.
❖ Literacy Rate: The population is highly literate with a literacy rate of 97.3% (male: 98.9%, female: 95.9%
(2018)). The reason behind the high literacy rate is that the government invests huge amounts of funds in
the education sector of the country.
❖ Unemployment Rate: The unemployment has increased in the last three years with a rate of 2.2% (2017
est.) to 2.6% (2020 est.).
❖ Import: Singapore imports commodities mainly for the purpose of re-export to other nations. Its import
list includes petroleum, broadcasting equipment, office machinery, computer and spare parts. The major
importing partners are China, Malaysia, followed by South Korea, Japan, India and Middle East countries.
❖ Export: Approximately, three fourth (72.5%) of the city-state’s exports in value are being delivered to
Asian countries, whilst 10.1% of its exports are consigned to Europe. The major export countries are Hong
Kong, China, Malaysia and the United States. The export commodities include refined petroleum,
integrated circuits, gold and computer hardware.
❖ Economic overview: Singapore has an extremely advanced and fruitful free market economy. It has an
environment that is open and free of corruption, steady prices, and a high GDP. The economy relies deeply
on exports, predominantly of technology, fuel products, chemicals, and pharmaceuticals. Singapore also
has an exciting transportation, commercial, and financial services segments. (Central Intelligence Agency,
2020). The government is endeavouring to rearrange Singapore’s economy to lessen its reliance on foreign
labour, increase productivity growth, and increase earnings amidst slowing labour force growth and a
maturing population. Singapore has attracted key investments in progressive manufacturing, drugs, and
medical technology production and will continue efforts to reinforce its spot as Southeast Asia’s foremost
financial and technology hub. Economical labour cost from neighboring nations helps Singapore save
costs. A main reason for its free-market economy is the strategic geographic position of Singapore in Asia
and its closeness to numerous shipping lanes. Singapore has an extremely industrial economy with the
industrial sector representative of one-fourth of the GDP. It places next after Hong Kong in overall
capacity of container traffic. The services segment is three-fourths of the GDP and employs close to 71%
3
International Business
❖
❖
❖
❖
❖
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of the population. Trade, commercial services, transportation, communications and financial services are
the central focus. (The Economic Intelligence Unit, 2020)
Political climate: Singapore is recognised for its steady political situation. In spite of being seen as
centralised and controlling, the political climate is practical, balanced and founded on the rule of law.
Though Singapore is a multi-party country, the People’s Action Party (PAP) has dominated its parliament
since 1959. Matters such as the increasing cost of living, immigration and inequality of income are the
main challenges faced by the government. (BBC, 2018)
Social climate: Singapore’s societal and racial situation is a combination of cultures and people –
Chinese, Indians and expatriates from numerous nations. Singapore’s lifestyle is diverse with each of
these groups upholding their way of life and at the same instance living in harmony. Singapore’s culture
is cosmopolitan because of the incursion of foreigners. People are generally friendly and polite to each
other. Heavy emphasis is placed on communal and ethnic accord. English is the foremost language for
communication in commerce. Singaporeans are considered prompt, non-hostile, tough negotiators.
Business decisions are made unanimously from a business values viewpoint. Fairness towards all sexes is
stressed on in Singapore and women hold positions of authority. Singaporeans have an open and
cosmopolitan attitude. (The Economic Intelligence Unit, 2020)
Transnational issues: Disputes – international: Clashes with Malaysia over territorial waters, airspace,
Singapore’s widespread land repossession works, bridge construction, and maritime boundaries in the
Johor and Singapore Straits. As a transportation and financial services hub, Singapore is susceptible,
despite strict laws and enforcement, as a setting for money laundering.
Media: As the media hub for south-east Asia, Singapore is a strategic centre for the region’s Englishspeaking viewers. Its media environment is tightly controlled and as such leads to self censorship by
journalists. There are also curbs on online content. (BBC, 2018)
Currency controls: The Monetary Authority of Singapore does not directly regulate the financial system.
The Singapore Dollar (SGD) is the currency. It manages SGD against a weighted bag of currencies of the
foremost trading countries it does business with. (The Economic Intelligence Unit, 2020)
Exchange rates: Singapore functions under a managed exchange-rate regime, with a rolling peg against
a weighted bag of currencies. The Singapore dollar is anticipated to average S$1.37:US$1 in 2020. On or
after 2021 the MAS will focus on a somewhat quicker pace of NEER appreciation as compared with 2020,
the Singapore dollar is predicted to rise against its US counterpart, attaining S$1.30:US$1 on average in
2024. (The Economic Intelligence Unit, 2020)
4
International Business
Analysis of Singapore
PESTLE Analysis
Political Analysis:
Singapore is a democratic nation constituting parliament and the government of Singapore. The
President is regarded as the head of the parliament, whereas the Prime Minister is the Head of the Singapore’s
government. In the context of international business, Singapore is considered as one of the politically
stabilized countries, which is the unique feature to attract MNCs in the nations. According to the New York
Times, the Prime Minister of Singapore, Mr. Lee had created the “Singapore Model” as a blend of fair
economic policies, a semi-democratic system, a single political party rule, and foreign talent pool.
The political ideologies of the government of Singapore’s ideologies are based on clear and efficient
means to encounter the procedures, for example, the government officials are selected based on their
competences and qualifications rather than preferences. This results in a fair and transparent system in the
economic working of the country, thereby offering a positive environment for their domestic as well as foreign
companies operating in Singapore.
Environmental Analysis:
Singapore is one of the most beautiful places in the world. It is the most beautiful city in Asia and 11th
most beautiful city in the world. The ministry of Environment and Anti-Pollution unit works hard day by day
to keep this city the most beautiful city by controlling the pollution level and keeping the environment clean.
Singapore is…
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