Ba 524 replies
Discussion:
Ross- DQ1: Comment on one or two things that we have discussed in the class that have led you to change your understanding of International Business.
Prior to the class, I would have assumed that underground markets were the same as black markets, and black markets have a negative perception. After further research I found that these underground markets consisted of more than drug dealing, trade of stolen goods, smuggling, and illegal gambling (Young, n.d.). A person who is working for cash jobs is essentially participating in the underground market. This could include someone babysitting, or even mowing a law for someone. The activity doesn’t seem like it would be part of the underground market, but it is the withholding of income to avoid paying taxes that is the issue. The underground economy is sensitive to the fluctuations of the market (Young, n.d.). In times of a recession, the underground economy tends to grow. When tax evasion penalties are increased, it tends to shrink the underground economy. Some laborers pick up extra jobs and are essentially paid “under the table” to avoid paying taxes. By not paying income taxes, the laborer is essentially increasing their income. It is difficult for corporations to compete with underground market due to the lack of compliance by the underground economy. Corporations are still responsible for paying the legal minimum wage whereas the underground economy does not. The corporations are still responsible for reporting incomes and paying taxes. By corporations paying the required taxes, they are doing their part to ensure programs are funded as had been planned. This subject was really eye opening for me, as I had no idea how big of an impact underground market had on everything.
References
Young, G. (n.d.). Underground economy. Encyclopedia Britannica. Retrieved November 16, 2021, from https://www.britannica.com/topic/underground-economy.
Leanne- Comment on one or two things that we have discussed in the class that have led you to change your understanding of International Business.
I can only pick two things? Not possible! Maybe the question should be what I haven’t learned. I will be honest; I wasn’t really looking forward to this class. As I have stated in some of my DQ replies, I am definitely not interested in any kind of international assignment if I would ever work for a company where that would be possible, but I have a lot of respect for people who do want to take that journey for their career.
Probably the two things that stick out to me would be the discussions of how to get a mindset for working internationally without having the experience for it. And how to prepare for a foreign assignment. While these two are similar in subject matter, they both remain different. I find the DQ’s so interesting in any class. I learn so much from everyone’s perspectives and opinions and experiences. With the DQ’s we had on gaining a mindset and preparing for a foreign assignment, there were so many great ideas and suggestions. Even using them when we work here in the US. The geographical location, the culture and so many other parts of what makes it the whole picture need to be considered for an international job. Preparation and knowledge of one’s position that they could be interviewing for or bidding for with a company is huge to that person to be successful in the position.
I want to thank all of you for a great session!!! It was fun getting to know all of you and learning from all of you!! Have a great winter break!!
Justin- The international business course had many concepts in it. However, I appreciated the information on intellectual property rights because it is crucial to have this to have3 more creative items come into our society. It helps create an atmosphere of wanting to create new things in order to benefit society. Many things can be protected internationally, but it is hard to enforce these laws due to the other nations’ laws. I know that protecting trade names is critical to the corporation’s success. However, sometimes companies or individuals violate this and can come to court and get a legal decision on the matter because both parties are not in agreement. There are many reasons why companies have protection, and the main one is to foster innovation and creativity (InQuartik, 2021). This has helped many businesses to grow and expand, which helps increase revenues.
Also, I have learned is that there are promotional strategies that can benefit a corporation. Some of these are same-product-same message, same product-different message, and different product-same message. Promoting an organization is complex, but it is beneficial because it lets society know that this company is out there for them. It will help gain attention to their products, especially when a corporation has international brand recognition, for example, Mc Doland’s or Burger King. People know what these businesses do and what products they sell to the general population. Also, it is easier to promote a recognizable product and see to determine what it stands for. There are many ways to protome the organization, especially internationally. Other nations want these companies to come In and promote the company because it brings in more taxes and so forth. Furthermore, advertising to has many facets, but I appreciated humor (Geringer, 2020, pp. 350-352). This concept helps keep things light, and humor spreads faster because people talk about what is funny on tv or radio, which spreads the message farther than a company can take it.
References
Geringer, J. M., McNett, J. M., & Ball, D. A. (2020). International Business. McGraw-Hill
InQuartik. (2021, April 22). Different types of intellectual property rights and why they are essential. https://www.inquartik.com/blog/basic-intellectual-property-rights/
Ryan- I have always had a positive opinion of international business. I believe it is important for any company to expand its global reach. I think the change in my opinion is due to the fact that now I am more aware of how complex things are outside of our country. I have seen how different countries are playing by different rules and regulations, with different cultures and expectations, which has made me appreciate the importance of global expansion. I now know that there are several different countries that have different environmental factors, political systems, and cultures. I was able to examine the role of multinational companies and explore the various reasons why they exist. International business is not just about international trade because it also includes multinational companies. These companies are created by foreigners investing in a country by acquiring local firms or by establishing wholly-owned subsidiaries abroad. And these organizations are usually found in emerging economies where there is a great deal of economic growth potential because they need the expertise of foreign investors to help them grow their own economy.
Hot Topic
Leanne- Survey the impact of ethics on the behavior of the American Manager
There is no doubt that a manager or management team makes the company work along with the employees they manage. It is how they make it work, and what standards of ethics they conduct themselves. I have had some amazing managers, and obviously some not-so-good managers through my employment years, each did have its good points and bad points that I learned many things from it. Ethics are put into place to show ethical values for a company, show the importance of ethics in a company, and impact the ethical behavior of the employees of the company (Chonko, Loe & Wotruba, 2001). Ethics is a standard that I feel should not be taken lightly at work or in our personal lives. Working in healthcare for many years, there are so many scenarios that ethics have been brought into the factors for treating patients and some are hard to understand. Ethics makes us who we are as a person. Managers today need to remember that ethics is very important. When a manager in any business, in any situation either here in America or in the global setting puts their best foot forward they lead by example for their employees, they also need to have extremely good communication with employees and their upper-level management to continue to implement their ethical standards and if there is anything that needs to be corrected it should be done immediately. The balance in a company today is harder than ever but staying on track with the ethics can be one way that they can stay on track and move forward.
Chonko, L. B., Loe, T. W. & Wotruba, T. R. (2001). The Impact of Ethics Code Familiarity on Manager Behavior. Journal of Business Ethics, 33(1), 59–69. http://www.jstor.org/stable/25074590
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