Module 1 – Geert Hofstede and National Culture
Geert Hofstede is a professional and his works can be best understood to be constructive and useable in the cases of research work. The works and interviews of Geert Hofstede have been constructive in facilitating further understanding of this module, this is because it touches on the concepts of individualism and power distance (Hofstede, 2000). Hofstede is polished and his ideas are very constructive in business, he strikes me as a determined mind with knowledge of what he does and the ways he implements his ideals are quite an intrigue.
Module 2 – Gambling with Currency
Currency exchange rates are unfavorable because the purchase value are higher than the resale value, therefore the losses incurred are very high. In the case of exchanging currencies worth $ 10,000 the losses are likely to be very high because the markets are set up in such a way that they tend to favor the domestic markets that the currencies belong to. Forex or foreign exchange earnings are very partial when it comes to the payments rewarding the current market more to favor trade for the domestic markets(Lien, 2011).
Foreign exchange earnings are not lucrative because it is a sure loss. The other types of gambling provide a chance for loss or gain. The probability of gaining or losing is at 0.5 which is important because it provides a pitch to either pick on the option of dropping the gamble or picking it as should be. The very thought of winning does not necessarily probe an individual to participate in gambling but the knowledge of the dynamics and tactics which ought to be surveyed for the purposes of winning. However, the foreign exchange terms and conditions are not restricted to research but on the demands on the foreign markets and how such markets and terms can be surveyed to bring forex to a country. Moreover, investments also prove vital while surveying such terms.
I would not advise an individual to invest in using his or her own money in investing in foreign currencies because there are hardly massive gains for the investments not unless the individual is selling the currencies as opposed to purchasing the currencies. Foreign currencies are mostly lucrative while selling the currencies as opposed to when purchasing the currencies. Individuals should therefore be conscious in their areas of investments and take calculated risks.
MODULE 3- McDonald’s and Adaptation
Advertisements have an overwhelming effect on product and purchases. The model of advertisements that McDonald’s uses are simply meant to attract the potential customers in the foreign markets and convince them that the product and services that are being offered by McDonalds meets the demands of the customers. The advertisements are choreographed in a way to demonstrate that the products and services are of quality and the personnel are well knowledgeable when it comes to the particular product line.
The advertisements are strategic, aimed at a particular audience at a particular time and for a particular purpose. Foreign advertisements are very instrumental in offsetting market competition and telling the organization to emerge. Most organizations only beat competition through dealing in products and services that are best known in organizations and meets the market demands. McDonalds is a branded company in the entire world but its powers are best revealed in its ability to conform and flexibility in terms of penetrating the market.
The knowledge that McDonalds knows with regards to market penetration is product branding, service quality and competitive advertising. The foreign advertisements that McDonalds engages in are taking the company to the next level in these foreign markets increasing the number of customers as well as personnel in these markets which increases the competitive advantage in these markets.
Module 4 – Entertaining India through Outsourcing
Outsourcing refers to the transfer of non – core functions of a company to a third party with an equal service level. The movie Outsourced provides the audience with the problems and merits that come up with outsourcing in a new foreign market, particularly India. The movie centered on marketing, has a plot in which a marketing firm in the United States decides to outsource its marketing India to India and prompt the Vice President of marketing in the organization to assist the American firm in training the new vice president based in Mumbai, India. The reason for outsourcing the marketing function in the organization is cited as lower financial investments for the organization.
Realistically, India is a rather conservative world in which the populace is insistent on the Indian culture and promoting the immediate products that are produced within the very country. The success of a foreign firm in penetrating the market and making massive financial gain would be with respect to beating the challenges that suffice with regards to market entry and beating the cultural impedance. The conservative nature of the Indian market and Indian people can be viewed when the vice president gets to a hotel room and is instructed to use his right hand while eating and to refrain from placing his hands in his mouth while eating because that goes against the Indian culture. However, I think the director has exaggerated the entire concept of outsourcing in India but there is some subtle element of truth.
Hofstede, G. H. (2000). Culture’s consequences: International differences in work-related values. Beverly Hills, Cal. [u.a.: Sage Publ.
Lien, K. (2011). The little book of currency trading: How to make big profits in the world of forex. Hoboken, N.J: John Wiley & Sons.