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Respond to both discussions Discussion board 1 You were asked to discuss (at the next group meeting) several topics you know will be important to your new business' success. In particular, you were asked to lead a discussion on the following: • Compare and contrast the impacts of technological, social, political, and economic changes you must be sensitive to if you were to market your new appliance in a developed country like German or England, as opposed to just in the United States (which country, England or Germany, would make more sense to market to, based on these impacts). • Give at least 1 example in each area (technological, social, political, and economic) that would be different in the international marketplace versus the “U.S. only” marketplace. • Finally, you were asked to discuss the concept of diffusion rate in terms of market penetration of a new product and how and why this might differ between Germany and England. Discussion board 2 Your team is sensitive to many issues that will be particular to dealing with companies on an international basis, as compared to business that is only done in the United States. You are asked to come to the next meeting prepared to discuss the following: • What the meaning of international exchange rate is as part of the international monetary system • What causes exchange rates to change • How changing exchange rates impact decisions that global business managers need to keep in mind (give a specific example) • What has been the exchange rate history over the last 3 years between the U.S. dollar and the German mark and between the U.S. dollar and the English pound? Provide a 3-year chart or graph to show this. Based on whatever trend you discover, would it make sense to manufacture in the United States and ship to Germany or England, or to manufacture in Germany or England and ship to the United States? Why? • Is China’s yuan being allowed to “float freely” in the marketplace? Why or why not? What is the impact of this on global trade? It is possible that you would eventually expand your business to China, so you should consider relevant financial issues.