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The course project assignments are based around a project scenario involving Savannah Engineering, Inspection and Insurance Company (SEIIC). The main scenario is provided, below, in the Week 1 instructions. The assignments will progress from one week to the next during the course. Course Project Scenario Savannah Engineering, Inspection and Insurance Company Savannah Engineering, Inspection and Insurance Company (SEIIC) is one of America’s oldest insurance companies specializing in equipment inspection and insurance for companies in the manufacturing, transportation, and energy sectors. Founded in 1873 and named for the first steam-powered ship to cross the Atlantic, SEIIC has grown to become a global leader in the application of engineering principles to safety and risk management. With more than 4,500 employees in 14 principal offices and 55 field locations around the world, SEIIC stands ready to meet industry needs on any continent. More than 50% of the SEIIC employees have an engineering or technical background. Accordingly, college recruiting and training are major features of the HR program. Although SEIIC has been known as a great place to work, turnover/retention issues need constant attention in the highly competitive labor market for technical personnel. In the past, the organization was also known for outstanding customer service and for building long-term relationships with its many business partners. However, this image has slipped in recent years as the organization and market have undergone significant change and SEIIC has struggled to respond in effective ways. As a result, SEIIC has decided to undertake a complete updating of its human resources management practices. To accomplish this effort, the company wants to investigate emerging trends in HR and to identify best practices for major HR processes. To accomplish this investigation, the organization has divided the project into five components as follows: •Week 1: Exploration of the domestic organizational environment including economic, legal, cultural, global, and technological trends •Week 2: Trends and best practices in recruiting and staffing •Week 3: Trends and best practices in training, performance management, and career management •Week 4: Trends and best practices in compensation and benefits •Week 5: Trends and best practices in international HR management For the Week 1 paper, assess at least two major trends that are likely to affect SEIIC for each of the following areas: ◦Economic and financial ◦Legal and political ◦Social and cultural ◦Global and technological Assignment 3 Grading Criteria Maximum Points Assessed at least two major economic and financial trends likely to affect SEIIC. 10 Assessed at least two major legal and political trends likely to affect SEIIC. 10 Assessed at least two major social and cultural trends likely to affect SEIIC. 10 Assessed at least two major global and technological trends likely to affect SEIIC. 10 Used correct spelling, grammar, and professional vocabulary. Formatted the paper and cited all sources using correct APA style. 10