Political, economic, and legal systems are like the tripod a country’s existence is standing on. Those systems, although each evolve like their own beast and at various rates, share similar roots. Each society’s structure, history, general belief system, moral structure, and national identity impact the type of political, legal, and economic system they formulate. Those systems affect the way people do business, interact in the marketplace, construct their contracts, interact with the outsiders, predict the outcome of current events, and manage their resources.
Failure by international business leaders and entrepreneurs to understand each of those three systems individually and their effect on each other as well as their mechanism collectively can result in complete business failure (and maybe serious liabilities and losses).
However, and like anything else, understanding the core mechanism of the political, economic, and legal systems in a given country can help business leaders avoid unnecessary challenges and also find new opportunities. The main idea is to be open minded while remaining realistic, respectful, and objective when assessing another country’s systems.
Assignment Description
Pick two countries, each one from a different continent (and preferably one from a developed region and one from a developing region) and perform a higher level (just key points without detailed explanation) comparison between the two nation’s political, economic, and legal systems. Highlight the key differences in each country’s political, economic, and legal systems. Also, based on the structure of political, economic, and legal systems in those countries, highlight the key risks and opportunities for doing business in those countries.
Create three to six slides, not counting the separate Title slide and the separate References slide.
Content Structure:
Introduction slide: In your own words, briefly discuss the relationship between a country’s political, economic, and legal systems and how they shape doing business in that country.
Data: The Various Systems:
Use data, graphs, facts, and figures, to describe each country’s political, economic, and legal systems (just key characteristics).
Perform a high level comparison (side-by-side) of the three systems in each country. Only state the differences in the political, economic, and legal systems.
Findings and Analysis: In your own words and based on your understanding of the three systems in each of the two countries, state the key risk and opportunity in each country. Basically, what is that one action, move, or consideration that an international business leader or operator must avoid doing in that country (or must do) to succeed in that market?
Conclusion and Looking Ahead: Managerial Critical Thinking: Opinion: Based on what you have learned, state what industry, commodity, idea, business approach, or business market focus might be most appropriate to benefit from operating in that market based on your understanding of their political, economic, and legal systems.
Use at least three reliable sources to obtain facts, data, news, updates, graphs, and so forth. Cite all sources used. The references need to be in APA 7th ed format.
