International Business

2020-11-10, 12:18 PMModule 1: The International (Global) Business Environment

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Module 1: The International (Global) Business Environment Site: TRU Moodle Course: IBUS 3511_SW5 - International Business (Summer 2020 Power) Book: Module 1: The International (Global) Business Environment Printed by: Sandeep Singh Date: Tuesday, 10 November 2020, 12:18 PM

Table of contents Learning Outcomes Lesson 1: International Business and Globalization Lesson 2: Cross–Cultural Business Lesson 3: Political Economy and Political Systems

Learning Outcomes After you successfully complete Module 1, you will be able to:

Provide insights into the concept and nature of international business.

Develop an understanding of the phenomenon of globalization, forces behind globalization, and advantages and disadvantages of globalization.

Develop an understanding of culture (components and characteristics) and analyze the effect of cultural environment of a country on international business.

Discuss different political systems of the world and their effect on international business.

Lesson 1: International Business and Globalization Overview International business has experienced a phenomenal, exponential growth during the past few decades. The driving force behind this growth is globalizationglobalization. Globalization, in brief, refers to the growing interdependent relationships among the different countries and people. Falling trade barriers between the countries of the world and developments in communications technology and transportation are some of the driving forces of globalization.

Globalization offers a range of new opportunities to businesses: new markets, access to raw materials, and production of goods in low-cost countries. Globalization also provides opportunities to employees and entrepreneurs. It helps consumers, with new and better products and services at a reasonable cost.

While some people view globalization as a positive influence, others strongly believe that globalization is not positive and argue that globalization results in loss of jobs, income inequality, and suboptimal use of country’s resources. Some critics of globalization argue that it threatens their cultures and poses a danger to national security.

International business includes all commercial transactions between parties from two or more countries and covers a range of activities, including offering products and services for sale, procurement, investment, production, distribution, and so on. Not only large multinational companies but also many small and medium businesses take part in international business. In today’s global

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business world, most students, after graduating and getting a job, are likely to be involved in international business activities directly or indirectly.

Lesson 1 provides insights into the phenomenon of globalization and a comprehensive view of international business.

Learning Objectives After you complete the work in Lesson 1, you will be able to:

Describe the phenomenon of globalization, the main forces driving globalization, and the effect of globalization on markets and production.

Appreciate the divergent views of proponents and opponents of globalization. Appreciate the nature and scope of international business.

Identify the two key players in international business.

Outline the debate over globalization’s impact on jobs and wages.

Resources These are the required resources for Lesson 1:

Textbook ReadingTextbook Reading Chapter 1: Globalization

Web-Based ResourcesWeb-Based Resources Global Affairs Canada at https://www.international.gc.ca/gac-amc/index.aspx?lang=eng

Innovation, Science and Economic Development Canada at http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home (Search for “International trade and investment”)

Statistics Canada, Imports and Exports (International Trade Statistics) at https://www150.statcan.gc.ca/n1/en/subjects/international_trade

Government of Canada, Office of the Chief Economist at https://www.international.gc.ca/economist-economiste/index.aspx? lang=eng

International Monetary Fund (IMF), IMF Country Information at https://www.imf.org/en/Countries

The World Bank at http://www.worldbank.org/

Milano, M. (2019, March 12). The digital skills gap is widening fast. Here’s how to bridge it. Retrieved from https://www.weforum.org/agenda/2019/03/the-digital-skills-gap-is-widening-fast-heres-how-to-bridge-it/

O’Hara, K, & Hall, W. (2019, March 12). There are now four competing visions of the internet. How should they be governed? at Retrieved from https://www.weforum.org/agenda/2019/03/there-are-now-four-competing-visions-of-the-internet/

Throughout the course, consult with other students in the Student Café for ideas and thoughts about the resources.

Checklist: Vocabulary, Learning Activities, and Assessments Done?Done? TaskTask

Vocabulary List: Lesson 1

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1.3: Take Notes

1.4: Initial Reflection on “Globalization and International Business”

1.5: Understanding the Concept and Process of Globalization

1.6: Triggers of Globalization

1.7: The Great Globalization vs. Nationalism Debate

1.8: International Business, Environment, and Players

1.9: Reflective Journal — Topic for Lesson 1: Self-Introduction

Chapter 1 Practice Quiz

Assignment 1 (10%)

Assignment 5 (25%)

Vocabulary List: Lesson 1 The following terms are on the chapter quiz.

Write the definitions in your own words, rather than trying to memorize what is in the textbook.

You are strongly encouraged to write your definitions for the terms and acronyms in a notebook or electronic file as a way of tracking your thoughts about key concepts, synthesizing your learning experience, and helping you formulate your ideas for the written assignments.

ItemItem TermTerm DefinitionDefinition

1 imports

2 exports

3 globalization

4 nationalism

5 global product

6 MNC

7 born global firm

8 WTO

9 IMF

10 GATT

11 World Bank

Download Lesson 1: Activities Checklist and Vocabulary

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Learning Activities 1.1: Unpacking Review the Course Guide, Suggested Schedule, and instructions for the assignments and the Final Exam.

It is a good idea to print a copy of the Suggested Schedule and the checklist of learning activities. Keep these in a binder so you can check off the activities as you progress through the course.

1.2: Journal Reflection Part of Assignments Start jotting down your impressions in your Reflective Journal.

This being the start of the course, you might note why you are taking this course, what your personal goals are, and what you hope to achieve.

In Assignments 2 and 4, you will write a few pages of reflection about your learning experiences in IBUS 3511. To help seed your reflective journalling, a “reflection question” is included in Lessons 1 to 11. These questions are meant to help you think about the broader implications of each lesson and how they relate to everyday life. Answering them will give you something to reflect upon in your journal.

If you are unsure about reflective journalling, look at Appendix C: Becoming a Reflective LearnerAppendix C: Becoming a Reflective Learner that provides more detail and an example.

1.3: Take Notes In addition to writing in your Reflective Journal, you are strongly encouraged to write your responses to the learning activities in a notebook, electronic file, blog, or wiki as a way of tracking your thoughts about key concepts, synthesizing your project ideas, and formulating your responses for the written assignments. The advantage of using a blog, wiki, or Word file is that you can copy and paste the learning activity questions into your notes. Take time to answer the reading questions; your notes will be invaluable when writing your assignments and the Final Exam report.

1.4: Initial Reflection on “Globalization and International Business” In this activity, you will explore your own understanding of globalization and international business before reading any of the resources in Lesson 1.

1. Before reading anything, write down your idea of what constitutes globalizationglobalization. List any ten international businesses of which you know or that affect you in your daily routine.

2. As you read the articles and other resources for this lesson, identify five of the key issues regarding globalization and international business. You will revisit your initial reflection later in this lesson.

Reminder:Reminder: Throughout the course, consult with other students in the Student Café for ideas and thoughts about the resources.

1.5: Understanding the Concept and Process of Globalization The world is witnessing an increasing economic interdependence among countries as a result of lowering trade barriers and proliferation of information and communication technologies (ICT), including the Internet. Globalization is resulting in an exponential growth of international business.

After a thorough study of the resources mentioned above and Internet and library research, respond to the following:

1. Define the concept of globalization.

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2. Discuss in detail the two main forces driving globalization.

3. Globalization of business activities manifests mainly in globalization of markets and globalization of production. Discuss two other ways they help business organizations.

1.6: Triggers of Globalization The aim of this activity is to understand many forces that are driving globalization. While important forces are discussed in the textbook chapter, there are many more.

1. List eight forces that are driving globalization and explain how they work.

Falling BarriersFalling Barriers

a.

b.

c.

d.

Technological InnovationsTechnological Innovations

a.

b.

c.

d.

2. Many people feel that a world market is emerging and customers from different parts of world will have similar preferences and wants. Do you agree or disagree? Justify your argument with supporting material.

1.7: The Great Globalization vs. Nationalism Debate Globalization is one of the hotly debated issues all over the world. While many people strongly feel globalization benefits all countries, there are many others who disagree and believe that globalization is detrimental to their national interests.

Respond to the following:

1. Discuss the three main arguments of proponents of globalization.

2. Discuss the three main arguments of opponents of globalization.

3. Construct a table to compare their views.

4. In the light of what you have learned from the above discussion, how can globalization increase, while respecting cultural sensitivities?

1.8: International Business, Environment, and Players Respond to the following:

1. Globalization is resulting in exponential growth of international business. Compare the Canadian entrepreneurial situation with that of the US.

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2. Define international businessinternational business. Explain the key activities that form international business.

3. Identify three key players (types of companies) involved in global business.

4. Identify and discuss the six most important elements of the international business environment.

5. Visit the Innovation, Science, and Economic Development Canada and Statistics Canada websites. From the international trade data you collect from these sources, discuss why international trade is so important to Canada’s national economy.

Innovation, Science, and Economic Development Canada at http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home (Search for “International trade and investment”)

Statistics Canada, Imports and Exports (International Trade Statistics) at https://www150.statcan.gc.ca/n1/en/subjects/international_trade

6. Complete the following table to identify and list the global marketplaces that are more important to Canada and the reasons why they are important. (North America has been completed for you as an example.)

AreaArea Key country or countriesKey country or countries Why importantWhy important

Asia

North America USA Market proximity, largest trading partner, similar culture

South America

Europe

Oceania

1.9: Reflective Journal — Topic for Lesson 1: Self Introduction Reflective Journal — Topic for Lesson 1: Self IntroductionReflective Journal — Topic for Lesson 1: Self Introduction In this activity, you will introduce yourself to other students taking this course. Tell us, for example, why you are interested in international business.

Please write on the following topic in your journal and share your reflection on the discussion forum:

Discuss the pros and cons of globalization. How does globalization influence your job opportunities and wages (or your business and revenue)?

Chapter 1 Practice Quiz Chapter 1 Practice QuizChapter 1 Practice Quiz Check your understanding of the vocabulary list items and basic concepts in the textbook reading before taking this quiz. If you have done the readings and answered the questions in the learning activities, then this online quiz should take approximately 5 to 10 minutes. You have 15 minutes in total to complete the quiz.

Assessments Assignment 1: Globalization and Canadian Firms (10%)Assignment 1: Globalization and Canadian Firms (10%)

Assignment 1 is due at the end of Lesson 3.

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Important:Important: The assignment draws on all the material covered in Lessons 1, 2, and 3, so familiarizing yourself with the assignment instructions will help you to focus your reading. Take note of the ideas and references you will need to complete Assignment 1.

Assignment 5: Country Profile for International Business (25%)Assignment 5: Country Profile for International Business (25%) Read the guidelines for the Assignment 5.

Your goal for Lesson 1 is to scope out your project. Think about a product or service that might be the foundation for a viable international business venture proposal. As the proprietor or manager of a business with potential to be an international business opportunity, first identify a potential host country that has a demand for your products or services. Your project will be an assessment of the suitability of this country for your international business. You might want to research one or two scenarios before you decide.

Take an hour to explore the web-based resources for Lesson 1. Select three countries from different continents—for example, China, USA, and Brazil—and look at globalization data for each country. The IMFIMF’s Public Information Notices are particularly useful in identifying the economic stability of a country, and global analysis reports are available under the Research tab on the IMF home page. Search for GDP, average income and health, and reports on economic development on the World BankWorld Bank’s website. Find additional sources via Google Public Data.

International Monetary Fund (IMF), IMF Country Information at https://www.imf.org/en/Countries

The World Bank at http://www.worldbank.org/

Google Public Data at https://www.google.com/publicdata/directory

Lesson 2: Cross–Cultural Business Overview A cultureculture reflects the country’s or society’s values, beliefs, behaviours, customs, traditions, attitudes, communications, and many other things. Culture affects the political, economic, and legal systems of a country and hence the business environment of that country. Culture decides an individual’s role in the society and influences people’s behaviour. Culture includes communication (language and non-verbal communication), religious affiliation, attitude to investment, and attitude to work. Culture also affects education, attitude towards time, relationships with others, eating and living habits. Normally, people tend to equate culture with nation states. While this may be true in some countries, most countries and their cultures also have a number of sects, or “subcultures.”

Cultures and subcultures not only affect the needs and wants of a particular society; they also reflect the preferences for certain goods and services. Hence, to be successful, international business managers must develop a good understanding of the cultural aspects of the country they are entering and should be able appreciate the impact of the culture or subculture on their businesses.

Many researchers have tried to classify cultures to develop a common understanding of cultures in different parts of the world. Understanding two classification frameworks can help the international business managers in establishing the similarities and differences in different cultures and develop their business strategies based on this understanding.

Lesson 2 provides a detailed understanding of culture, its components, and their effect on international business, along with information about how to classify cultures.

Learning Objectives After you complete the work in Lesson 2, you will be able to:

Describe culture, and distinguish between culture and subcultures.

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Understand the components of culture and their effect on international business.

Explain how cultures and companies influence each other.

Discuss how physical environments affect culture.

Discuss the effect of technology on cultures.

Classify cultures, using both the Hofstede and Kluckhohn-Strodtbeck frameworks.

Resources These are the required resources for Lesson 2:

Textbook ReadingTextbook Reading Chapter 2: Cross-Cultural Business

Web-Based ResourcesWeb-Based Resources European Union (EU) at http://europa.eu

Today Translations. (n.d.). Business culture and etiquette. Retrieved from https://www.todaytranslations.com/business-culture-and- etiquette

China.com at http://english.china.com

Japan Echo at http://www.japanecho.com

Hofstede Insights. (n.d.). Retrieved from https://www.hofstede-insights.com/product/compare-countries/

Checklist: Vocabulary, Learning Activities, and Assessments Done?Done? TaskTask

Vocabulary List: Lesson 2

2.1: Describing Culture and Subcultures

2.2: Components of Culture and their Effect on International Business

2.3: Cultural Diffusion

2.4: Classification of Cultures

2.5: Journal Reflection — Topic for Lesson 2: Cultural Environment

Chapter 2 Practice Quiz

Assignment 1 (10%)

Assignment 5 (25%)

Vocabulary List: Lesson 2 The following terms are on the chapter quiz. It is better to write the definitions using your own words than to try to memorize the definitions in the textbook.

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ItemItem TermTerm DefinitionDefinition

1 ethnocentrism

2 culture

3 cultural literacy

4 aesthetics

5 cultural imperialism

6 brain drain

7 material culture

8 Kluckhohn-Strodtbeck framework

9 Hofstede framework

10 Confucianism

11 Buddhism

12 Judaism

13 Christianity

14 Islam

15 lingua franca

Download Lesson 2: Activities Checklist and Vocabulary

Learning Activities 2.1: Describing Culture and Subcultures Culture is a mix of many important aspects of a society or a nation that includes values, beliefs, religion, communication, and et cetera. Cultural diffusion takes place by sharing of these common beliefs among the members of a society. Though many people tend to equate a country and its culture by referring to its culture as “national culture,” in fact, cultures can have many subsets or subcultures. Cultures have an important effect on the habits of people, needs and wants, and attitudes to work and time, which—in turn—affect businesses.

After a thorough study of Chapter 2, respond to the following:

1. Define the terms culture culture and subculturessubcultures. Why must international business managers have a good understanding of the culture and subcultures of a host country?

2. What is ethnocentrismethnocentrism? How does it affect international business?

3. Discuss situational management situational management and cultural imperialismcultural imperialism.

4. How do cultural literacycultural literacy and cultural sensitivitycultural sensitivity help international business managers?

5. Discuss the effect of culture on international business.

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2.2: Components of Culture and their Effect on International Business Culture is a complex phenomenon and has many different components that influence each other and international business. For example, verbal and non-verbal communications play a very important role in international business negations and partnerships.

This activity will help you identifying important components of culture and their effect on international business.

Respond to the following:

1. List six key components of culture.

2. Imagine you want to sell Canadian smartphones in South Africa. Discuss how that country’s aestheticsaesthetics, values, and attitudes will affect your ability to conduct this international business in competition with Nokia.

3. You are abroad and have been invited to supper by a local businessman. Discuss how your awareness of manners, customs, and social structures can influence your international business.

4. Complete the following table for the six largest religions in the world to note religion, key beliefs, distribution, and business impact. (The first one has been done for you). Explain how religious beliefs can exert a tremendous influence on international business.

ReligionReligion Key beliefsKey beliefs DistributionDistribution Business impactsBusiness impacts

ChristianityChristianity (Protestantism)

Salvation, Protestant work ethic

Europe, North & South Americas

Sunday closing day in some areas. Some subgroups sensitive to misuse of cultural references and family values.

IslamIslam

HinduismHinduism

BuddhismBuddhism

ConfucianismConfucianism

JudaismJudaism

5. You enthusiastically greet a visiting Russian to your office by opening the door and extending your arm to shake his hand. He frowns. Discuss the importance of communication. Distinguish between verbal and non-verbal communication. Why is body language important in international business?

6. Literacy rate, and the levels and quality of education in a country can have an effect on international business. Discuss how and why.

7. Differentiate between physical and material environments.

2.3: Cultural Diffusion Many feel that an international cultural diffusion is taking place due to technological developments, such as the Internet and social media websites, and the free exchange of information. Others believe that world cultures are slowly being assimilated into a single global culture.

Respond to the following:

1. Describe the process of cultural diffusion.

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2. What do you understand by lingua lingua francafranca? Which language do you think is the current lingua franca?

3. What is the effect of ICTs on national cultures?

4. Some people claim international businesses from the West are resulting in cultural invasioncultural invasion and cultural imperialismcultural imperialism. Do you agree or disagree with this view? Give reasons to support your position.

5. From your understanding of this topic, do you think a single global culture is emerging? Give the reasons in support of your answer.

2.4: Classification of Cultures Understanding all different cultures of the world can be a daunting task for international mangers. While it is important to understand individual cultures in which you plan to do business, the complexity can be reduced by classifying the cultures into a handful of stereotypes.

Respond to the following:

1. Compare the cultures of the US and Japan using the Kluckhohn-Strodtbeck framework.

QuestionQuestion USAUSA JapanJapan

1

2

3

4

5

6

2. Now, compare the cultures of the US and Japan using Hofstede’s framework.

3. a. First, complete the following table using the country data on the Hofstede Hofstede InsightsInsights website at https://www.hofstede- insights.com/product/compare-countries/

DimensionDimension USAUSA JapanJapan

1 Power Distance (low = 1, high = 100)

2 Collectivism (1) vs. Individualism (100)

3 Achievement [masculinity](100) vs. Nurturing (1)

4 Uncertainty Avoidance Index (small = 1, large = 100)

5 Long-Term Orientation (100); Short-Term Orientation (1)

4. b. Next, plot the Hofstede data above for Individualism (Y axis) against Power Distance (X axis) for both countries, and then compare your answer with Table 2.2 in the textbook.

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2.5: Reflective Journal — Topic for Lesson 2: Cultural Environment Reflective Journal — Topic for Lesson 2: Cultural EnvironmentReflective Journal — Topic for Lesson 2: Cultural Environment Respond to the following in your journal and post to the discussion forum:

Broadly defined, Asia comprises more than 60% of the world’s population—a population that practices Buddhism, Confucianism, Hinduism, Islam, Shintoism, and numerous other religions. Is it possible to carry on a valid discussion of “Asian” values?

Chapter 2 Practice Quiz Chapter 2 Practice QuizChapter 2 Practice Quiz Check your understanding of the vocabulary list items and basic concepts in the textbook reading before taking this quiz. If you have done the readings and answered the questions in the learning activities, then this online quiz should take approximately 5 to 10 minutes. You have 15 minutes in total to complete the quiz.

Assessments Assignment 1: Globalization and Canadian Firms (10%)Assignment 1: Globalization and Canadian Firms (10%)

Assignment 1 is due at the end of Lesson 3.

Important:Important: The assignment draws on all the material covered in Lessons 1, 2, and 3, so familiarizing yourself with the assignment instructions will help you to focus your reading. Take note of the ideas and references you will need to complete Assignment 1.

Assignment 5: Country Profile for International Business (25%)Assignment 5: Country Profile for International Business (25%) Reminder:Reminder: For Assignment 5, first pick out a product or service, then seek in the target country the best business alliance with the key success factors for a marketing strategy.

Lesson 3: Political Economy and Political Systems Overview The business environment in any country depends on that country’s political and economic environment. When a company enters a new country for international business, the company operates in different political and economic environments. A political systempolitical system encompasses all the activities, institutions, and processes by which a country governs itself. A study of political systems includes how governments are elected and replaced, how laws are made, how businesses are controlled, and how government officials implement (or ignore) official policies. Some literature on the subject divides political systems into a continuum of anarchisticanarchistic to totalitariantotalitarian systems; pluralistic systems sit somewhere in between. Each system has both advantages and disadvantages for international business.

The structure and processes that a country uses to allocate its resources and conduct its commercial activity is known as the country’s economic systemeconomic system. Examples of economic systems are: a centrally planned economycentrally planned economy, a mixed economymixed economy, and a market market economyeconomy.

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Lesson 3 provides a detailed understanding of political and economic systems and their effect on international business. Lesson 4 will focus on legal systems.

Learning Objectives After you complete the work in Lesson 3, you will be able to:

Differentiate between different types of political ideologies and economic systems around the world.

Discuss totalitarian political systems and how totalitarian governments affect international business.

Discuss democracydemocracy and differentiate it from totalitariantotalitarian governments.

Discuss the differences between a centrally planned economy, a mixed economy, and a market economy.

Resources These are the required resources for Lesson 3:

Textbook ReadingTextbook Reading Chapter 3: Political Economy and Ethics

Online ResourcesOnline Resources World Trade Organization (WTO) at https://www.wto.org

International Monetary Fund (IMF) at https://www.imf.org/external/index.htm

Europa: Gateway to the European Union at https://europa.eu/european-union/index_en

EUbusiness at https://www.eubusiness.com/

United Nations (UN) at https://www.un.org/en/index.html

North American Free Trade Agreement (NAFTA) at https://www.nafta-sec-alena.org/Home/Welcome

CUSMA (Canada–United States–Mexico Agreement) at https://international.gc.ca/trade-commerce/trade-agreements-accords- commerciaux/agr-acc/cusma-aceum/index.aspx?lang=eng

Luhn, A. (2015). 15 years of Vladimir Putin: 15 ways he has changed Russia and the world. The Guardian. Retrieved from https://www.theguardian.com/world/2015/may/06/vladimir-putin-15-ways-he-changed-russia-world

Checklist: Vocabulary, Learning Activities, and Assessments Done?Done? TaskTask

Vocabulary List: Lesson 3

3.1: Political Systems

3.2: Introduction to Economic Systems

3.3: Reflective Journal — Topic for Lesson 3: Political Economy and Political Systems

Assignment 1 (10%)

Assignment 5 (25%)

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Vocabulary List: Lesson 3 Define and/or explain each of the following terms and acronyms. It is better to write the definitions using your own words, rather than trying to memorize what is in the textbook.

ItemItem TermTerm DefinitionDefinition

1 political system

2 economic system

3 totalitarianism

4 anarchism

5 pluralism

6 adaptation

7 market economy

8 capitalism

9 tribal totalitarianism

10 theocratic totalitarianism

11 centrally planned economy

12 mixed economy

Download Lesson 3: Activities Checklist and Vocabulary

Learning Activities 3.1: Political Systems Political systems range on a continuum from anarchismanarchism to totalitarianismtotalitarianism, with pluralistic systems lying somewhere in the middle. Totalitarian systems believe in the state control of aspects and freedoms and of people’s personal lives. The other extreme, anarchism, believes in individuals and groups controlling the country’s political activities. PluralismPluralism is the belief that both state and private parties (individuals or groups of individuals) play an important role in governance.

In this activity, you will develop an understanding of political systems and their importance to international business. As you read the Lesson 3 resources, you will identify some of the key issues regarding political systems’ effects on international business. Later in this lesson, you will revisit your initial reflection from Lesson 1.

After a thorough study of the resources for Lesson 3, respond to the following:

1. Define political systempolitical system.

2. Describe three important features of a political system.

3. How are the politics and culture of a country related?

4. Differentiate among the world’s three major political ideologies.

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5. Discuss totalitarian systems, including types and characteristics, and the advantages and disadvantages of doing business in totalitarian countries.

6. Discuss democratic systems and the advantages and disadvantages of doing business in democratic countries.

3.2: Introduction to Economic Systems An economic system is the process through which a country allocates and controls its economic resources and conducts its commercial activities. Most economies try to balance individual and collective needs and well-being in their economic systems.

This activity is aimed at introducing different types of economic systems and their effect on international business.

After reading the Chapter 3 section, respond to the following:

1. What do you understand by an economic system?

2. List the three different types of economic systems in the world.

3. Discuss the characteristics of centrally planned systems, their origins, their growth, and reasons for their decline.

4. Discuss the characteristics of mixed economies, their origin, and reasons for their decline.

5. While other centrally planned systems are declining, the Chinese economy is witnessing phenomenal growth. Discuss the reasons.

6. Discuss the characteristics of market economies, their origin, and reasons for growth, along with the role of government in free market economies.

3.3: Reflective Journal — Topic for Lesson 3: Political Economy and Political Systems Reflective Journal — Topic for Lesson 3: Political Economy and Political SystemsReflective Journal — Topic for Lesson 3: Political Economy and Political Systems Over the last twenty years, Russia has been making a difficult transition to a democratic market economy. Read: 15 Years of Vladimir Putin: 15 Ways He Has Changed Russia and the World. Respond to the following in your journal and post to the discussion forum:

What aspects of the current Russian political system might be described as totalitarian, pluralistic, or anarchistic? What risks would you have to consider before doing international business with Russia?

Assessments Assignment 1: Globalization and Canadian Firms (10%)Assignment 1: Globalization and Canadian Firms (10%) Turn in Assignment 1 by the end of Lesson 3. Consult the instructions and turn in your assignment.

Assignment 5: Country Profile for International Business (25%)Assignment 5: Country Profile for International Business (25%) Part C of Assignment 1 is the proposal for your Assignment 5 Project. Please review the Assignment 5 Project instructions and criteria.