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Group Assignment Individual Assignment Assessment Details and Submission Guidelines Trimester T2 2024 Unit Code HC1001 Unit Title Business Fundamentals Assessment Type Article Review Case Study Business Plan Due Date + time: 04/10/2024 11.59 pm (Melbourne / Sydney time) Purpose of the assessment (with ULO Mapping) 1. Articulate role of business and organization models. Q1 2. Identify core business processes in digital world. Q2 3. Apply research skills to academic literature. Q3 4. Work independently. Q 4 5. Communicate in writing effectively Q1, 2, 3, 4, and 5 Weight 40 % Total Marks Assignment (40 marks) Word limit 1600 words Individual Assignment Guidelines and Specifications The purpose of this assessment is to allow students an opportunity to identify the skills they have learned and are learning at Holmes Institute and recognize the profound advantage they possess on account of their Asian heritage. The attached article talks about ex patriate managers working in Asia who are from developed European and American countries. This is the student’s opportunity to recognize their skills and how they are appropriate for a role with a MNC (multinational corporation). And to compare themself with ex patriates who will be applying for the same jobs that they will! Scenario Analysis You will be expected to identify the skills that you have learned in your home country and also the ones that you are learning at Holmes Institute. Plus, you will be expected to understand what the structure of MNCs and host country is. When you read the below sections that have been taken from the journal, pay special attention to the highlighted parts. Please use references from the lecture/tutorial material. Note that this is approximately 800 of 4000 words. It is suggested that you read the entire article, not just this portion. It is mandatory that these references are used in answering the questions. If there is no use of these references and students do not indicate that they have a comprehensive understanding of the lecture topics they will be marked down considerably in the marking. The paragraphs below are taken from a journal article: “International management skills for success in Asia: A needs-based determination of skills for foreign managers and local managers”. The link to the article is at the end of the assessment. Parts taken from the article follow. Beginning of excerpts from the article “Introduction The development of the skills necessary to be successful in international business can occur in two ways. One way is by trial and error, which can be a long and costly experience for managers and their companies. Alternatively, managers can engage in education and training programs that provide the development of the necessary skills in a more effective and less costly manner. While western-originated executive training materials are distributed globally, they may be too general or inappropriate for application in a local posting country. Therefore, the argument can be made that in order to create an effective training program that addresses the needs of managers in a particular country, a needs assessment of the managers in that country is necessary. This paper identifies international business skills required by managers to be successful in Asia. In doing so, we build on an assessment instrument used in several recent studies to understand the challenges faced by international managers and the skills necessary to overcome these challenges (Bell et al., 2001). We utilize a critical incidents interview with managers involved in various international business activities in Vietnam, such as exporting, licensing, contract manufacturing, joint ventures, alliances and subsidiary management. Internationalizing transitional economy managers Much of the management research on international manager training is written from the perspective of developed countries and deals with how to increase the scope of Western business around the world. Yet globalization places significant demands on managers in developing and transitional economies, requiring the development of skills crucial to success in an international business environment (Srinivas, 1995). As firms in developing and transition economies find themselves competing in more international, market-driven systems, they may attend training and human resource development activities in order to survive. Expatriate foreign manager effectiveness Asia represents a challenging posting for many foreign managers. Different cultures, different manners, different expectations and different perspectives can create an awkward situation that can impact a manager’s business effectiveness. Many managers successful in their domestic operations in USA and Europe often find that the mental maps that they relied on for years do not necessarily apply to the rest of the world (Black and Gregersen, 2000). This may contribute to assignment failure, not only as assessed by premature return, but also by disrupted relationships with local nationals, reduced productivity, lost opportunities, and damage to company image (Bennett et al., 2000). Understanding socio-cultural differences, as well as differences in legal, human resource, marketing and technical systems (Osman-Gani, 2000) may be required in promoting assignee success and averting assignment failure. It is important that foreign managers understand local business practices so that they may be effective in taking care of business needs. Often, there is no surer way to sabotage a business negotiation than by making an unintentional social mistake. Similarly, local managers need to be aware of how foreign managers are different in their manners and expectations, by both groups, foreign and local managers, being aware of one another’s cultural compositions, there is a higher chance of success. The training and development of expatriates has certainly become a critical issue for MNCs. Though expatriate training is provided in many organizations, there are still many questions about its effectiveness. Of course, a critical issue involves providing information relevant to the needs of the employee. It is very important to identify the relevant areas of training content before designing the training program (Osman-Gani, 2000; Ronen, 1990). Training programs for local employees We propose two programs for training and development for Vietnamese employees. One program is designed for middle and senior level managers. This program would focus on leadership, problem solving and interpersonal skills. It would also include a review of business basics and communication and culture. Similarly, a program for entry level employees and supervisors could be built around basic business concepts. In many developing countries, especially transitional economies, business education is not widespread among the majority of employees, especially production employees and first-time supervisors. A training program that introduces basic business concepts such as management, marketing and production. Conclusion The purpose of our research was two-fold: first, to identify the skills necessary to be a successful international manger in Asia and, second, to propose a manager training program that would facilitate the development of the skills identified. The proposed training programs are designed to better prepare local managers and employees and foreign managers to be more effective members of international organizations doing business primarily in Vietnam. The research is based on a methodology that facilitates the development of materials appropriate for local needs. The needs analysis employed provides an effective identification of training needs. It is by querying managers who face the challenges that we are able to identify what skills are necessary of other similarly situated international managers. Therefore, the training program addresses the skills identified by the managers, not by someone who may not be familiar with the challenges encountered. In this sense, the program is tailored to the needs of the managers undergoing the training.” End of article. Requirement 1. Explain what the business model is for an MNC and what the MNC is attempting to achieve. 400 words, 10 marks 2. How are MNCs trying to manage their businesses? What are the skills that are wanted by the MNCs? 400 words, 10 marks 3. Read the article online through ProQuest, (10.1108/03090590510585118) and provide a summary. 400 words, 10 marks 4. Identify what the skills are that you have developed, or are developing, at Holmes Institute. Identify the skills that you already possess with respect to understanding the socio-cultural aspects of Asia. Then compare your skill set to the ex-patriate managers. Ignore the issue of the number of years’ experience. Imagine that you have graduated from Holmes Institute. Why would you be a better candidate for a managerial job with an MNC than an expatriate manager? 400 words, 10 marks Please use ProQuest to access full text Neupert, Kent & Baughn, Chris & Dao, Lam. (2005). International management skills for success in Asia: A needs-based determination of skills for foreign managers and local managers. Journal of European Industrial Training. 29. 165-180. 10.1108/03090590510585118 Criteria Excellent Very Good Good Satisfactory Un satisfactory Part 1 10 Points Exceptionally clear understanding and ability to summarize the errors with clear purpose 8 Points Strong grasp of understanding and ability to summarize the errors with clear purpose 6 Points Competent understanding and ability to summarize the errors with clear purpose 5 Points Some understanding and ability to summarize the errors with clear purpose 2 Points Lack of understanding and ability to summarize the errors with clear purpose Part 2 10 Points Exceptionally clear understanding and ability to reflect on issues we have studied with clear purpose 8 Points Strong grasp of understanding and ability to reflect on issues we have studied with clear purpose 6 Points Competent understanding and ability to reflect on issues we have studied with clear purpose 5 Points Some understanding and ability to reflect on issues we have studied with clear purpose 2 Points Lack of understanding and ability to reflect on issues we have studied with clear purpose Part 3 10 Points Exceptionally clear understanding and ability to avoid the mistakes and capitalize on the opportunities 8 Points Strong grasp of understanding and ability to avoid the mistakes and capitalize on the opportunities 6 Points Competent understanding and ability to avoid the mistakes and capitalize on the opportunities 5 Points Some understanding and ability to avoid the mistakes and capitalize on the opportunities 2 Points Lack of understanding and ability to avoid the mistakes and capitalize on the opportunities Summary 10 Points Exceptionally clear summary of feelings and ambitions 8 Points Strong grasp of summary of feelings and ambitions 6 Points Competent summary of feelings and ambitions 5 Points Some understanding of summary of feelings and ambitions 2 Points Lack of understanding of summary of feelings and ambitions Total /40 Holmes Referencing Requirements: Assessment Design – Adapted Harvard Referencing Holmes will be implementing a revised Harvard approach to referencing. The following rules apply: 1. Reference sources in assignments are limited to sources that provide full-text access to the source’s content for lecturers and markers. 2. The reference list must be located on a separate page at the end of the essay and titled: “References”. 3. The reference list must include the details of all the in-text citations, arranged A-Z alphabetically by author surname with each reference numbered (1 to 10, etc.) and each reference MUST include a hyperlink to the full text of the cited reference source. For example: 1. Hawking, P., McCarthy, B. & Stein, A. 2004. Second Wave ERP Education, Journal of Information Systems Education, Fall, http://jise.org/Volume15/n3/JISEv15n3p327.pdf 4. all assignments must include in-text citations to the listed references. These must include the surname of the author/s or name of the authoring body, year of publication, page number of the content, and paragraph where the content can be found. For example, “The company decided to implement an enterprise-wide data warehouse business intelligence strategies (Hawking et al., 2004, p3(4)).” 5. Non Adherence to Referencing Guidelines HC1001 Individual Assignment T2 2024 Group Assignment Individual Assignment Assessment Details and Submission Guidelines Trimester T2 2024 Unit Code HC1001 Unit Title Business Fundamentals Assessment Type Article Review Case Study Business Plan Due Date + time: 04/10/2024 11.59 pm (Melbourne / Sydney time) Purpose of the assessment (with ULO Mapping) 1. Articulate role of business and organization models. Q1 2. Identify core business processes in digital world. Q2 3. Apply research skills to academic literature. Q3 4. Work independently. Q 4 5. Communicate in writing effectively Q1, 2, 3, 4, and 5 Weight 40 % Total Marks Assignment (40 marks) Word limit 1600 words Individual Assignment Guidelines and Specifications The purpose of this assessment is to allow students an opportunity to identify the skills they have learned and are learning at Holmes Institute and recognize the profound advantage they possess on account of their Asian heritage. The attached article talks about ex patriate managers working in Asia who are from developed European and American countries. This is the student’s opportunity to recognize their skills and how they are appropriate for a role with a MNC (multinational corporation). And to compare themself with ex patriates who will be applying for the same jobs that they will! Scenario Analysis You will be expected to identify the skills that you have learned in your home country and also the ones that you are learning at Holmes Institute. Plus, you will be expected to understand what the structure of MNCs and host country is. When you read the below sections that have been taken from the journal, pay special attention to the highlighted parts. Please use references from the lecture/tutorial material. Note that this is approximately 800 of 4000 words. It is suggested that you read the entire article, not just this portion. It is mandatory that these references