Country Paper

In: Business and Management

Submitted By anderso
Words 2328
Pages 10
Country Paper

By

Irwin Anderson
BMGT 392
Professor Joseph Wade
September 12, 2011

This country analysis is for the beginning of a new business venture in South Korea. The business is an English private school/ tutoring center that focuses mainly on learning the language of English. The nature of this business is to bring new alternatives to learning English in South Korea. The organizational structure of this business will be mostly staffed with qualified English teachers. The overall mission statement of this business is to bring the best possible level of English language education to South Korea. This analysis will bring about the relevance of different country variables to this new business opportunity. The country variables consist of cultural environment, political and legal environment, economic environment, ethical environment, trade, investment, and foreign policy profile. Cultural Environment The cultural environment is one of the first things to consider when opening up a business in another country. Daniels mentions, “Most cultural variables are universal. Every society, for example, has its own daily routines and rules, codes or social relations, language, and the show of emotions—even concepts of luck” (Daniel, 2011). Therefore, some sort of study of the culture should be done. The Journal of Management & Marketing Research states, “Since the entry mode is crucial for the success of a new business in the overseas market, various studies should be made on the relationship between cultural distance and entry mode in the foreign market” (Cheong, 2011). Hence, we shall take a look at the cultural environment of South Korea. The primary language in Korea is Korean or Hangul. Jae Song from the University of Otago writes, “The correlation between Koreans and the Korean language is almost perfect:…...

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