Summarise the components of the international business environment especially economic, sustainable, political, legal, linguistic, and cultural elements

PLEASE READ AND UNDERSTAND THE FOLLOWING INSTRUCTIONS: 1. This assessment consists of a Poster Presentation. 2. You are required to provide answers to the assessment question based on information from the case study “Doing Business in Chad” (see below). 3. Use PowerPoint for the Poster Presentation. 4. Take note of the mark scheme and word count allotted to each question. 5. Examples of the poster presentation will be provided on Moodle and discussed in the lecture. Assessment Questions Read the case study below and answer the following questions by creating a poster presentation: 1. Summarise the significance of Chad’s business prospects to the international business context. (approx. 250 words) 2. Analyse what factors (economic, sustainable, political, legal, and cultural elements, etc.) have affected Chad’s rapid growth as well as its significant poverty levels. (approx. 250 words) 3. Compare how the economic performance of Chad compares to your home country in past decade. (approx. 250 words) HoAS Approved: 14/03/2022 HoC (if any concerns) EE Approved: 23/03/2022 4. State the future prospects for Chad by focusing on: (approx. 500 – 750 words) a. Attracting foreign direct investment; b. Regional stability and security; and c. Economic diversification and productivity. Learning Outcomes Assessed LO2: Summarise the components of the international business environment especially economic, sustainable, political, legal, linguistic, and cultural elements; LO3: Recognise the nature of international business environment and the difference between international and domestic business. LO4: Compare and contrast the cultural differences between home and host countries in international business. LO9: Demonstrate problem solving, presentation, communication skills, and academic writing skills. Reading List 1. Hamilton, L. & Webster, P., 2018. The International Business Environment. 4th ed. Oxford: Oxford University Press. 2. Lecture slides. Deadline: Submission Dates and Times You must submit your work on Turnitin. Submission forms are not in use during the distance learning changes. 08-04-2022 HoAS Approved: 14/03/2022 HoC (if any concerns) EE Approved: 23/03/2022 Penalties: Penalties will be applied to any work submitted late. No submissions may be made after 24 hours – work will not be accepted or marked. Candidates who exceed the word count by more than 10% should have 10 percentage marks deducted. Word count excludes, title, candidate number, bibliography and appendices. It includes the body of the text, all footnotes and in-text referencing. If a candidate is late (but within 24 hours of the deadline) with their submission, they should have 10 percentage marks deducted. Attention – Please note: You must do all of the following: • On the front sheet of your assignment write SUMMATIVE ASSESSMENT 1 FOR INTERNATIONAL BUSINESS. Also, on this front sheet, include your candidate number and the total word count of your assessment (the word count should not exceed 10% above the required number of words for this assignment). • Write your candidate number on the top right corner of each page of your work. • Make sure all quotes, summaries and paraphrases are correctly referenced as explained in the RHI Harvard Referencing Guide. In addition, make sure a full alphabetical bibliography is included at the end of your written reflection, if this is appropriate, detailing all texts cited in the body of the work and any others that have been consulted. The Bibliography must follow the format laid out in the RHI Harvard Referencing Guide. • Avoid using Wikipedia and some other commercial websites as sources because they may not be acceptable as evidence in your writing. If you have any doubts about what sources are viewed as non-academic, please check with your tutor. • Word process your work in Arial or Times Roman in size 12 font and use double-spacing. • Make it clear where paragraphs begin and end by leaving an extra space between paragraphs. HoAS Approved: 14/03/2022 HoC (if any concerns) EE Approved: 23/03/2022 • Ensure that your word processor uses UK spelling and adheres to UK grammar rules. CASE STUDY Doing Business in the Republic of Chad The Republic of Chad is a large, landlocked Sahelian country in central Africa, with a population of 15.81 million (2019 estimate) and a per capita gross domestic product (GDP) of USD 1768.15 at purchasing power parity (PPP) in 2017. Chad achieved its independence in 1960 and saw three decades of instability, oppressive rule, civil war, and a Libyan invasion. With the help of the French military and several African countries, Chadian leaders expelled Libyan forces during the 1987 “Toyota War,” so named for the use of Toyota pickup trucks as fighting vehicles. In 1990, Chadian general Idriss DEBY led a rebellion against President Hissene HABRE. Under DEBY, Chad drafted and approved a constitution and held elections in 1996. DEBY led the country until April 2021 when he was killed during a rebel incursion. Shortly after his death, a group of military officials – led by former President DEBY’s son, Mahamat Idriss DEBY – took control of the government. The military officials dismissed the National Assembly, suspended the Constitution, and formed a Transitional Military Council while pledging to hold democratic elections in October 2022. The country is also faced with security challenges associated with conflicts in bordering countries as well as the impacts of climate change, which has resulted in desertification and the drying up of Lake Chad. Chad’s economy is driven by Oil and agriculture. Oil generates the bulk of export revenues. Most of Chad’s population are engaged in subsistence farming and livestock rearing. Cotton, cattle, and gum arabic are Chad’s primary non-oil exports. Although Chad had made progress on poverty reduction, with a decline in the national poverty rate from 55% in 2003 to 47% in 2011, the number of people living in poverty was projected by the World Bank to rise from 4.7 million to 6.3 million between 2011 and 2019. Over the past three decades, growth has been largely defined by oil and insecurity. Economic performance has been volatile due to oil and security shocks. Between 1990 and 2002, the last year before the start of oil production, output grew by an average of 4 percent per year. The oil boom in the early 2000s allowed Chad to boost GDP per capita from US$220.8 in 2002 to US$660.2 by 2005. This places HoAS Approved: 14/03/2022 HoC (if any concerns) EE Approved: 23/03/2022 Chad in a slightly better position than other low-income countries and has reduced the large income gap between Chad and the average country in Sub-Saharan Africa. Most recently, after the oil price shock of 2015, Chad has been enduring a deep recession and severe macroeconomic imbalances. Various bouts of domestic and regional insecurity complemented a broader inability to elevate growth to faster and sustainable levels. Ultimately, continued reliance on oil left the economy less diversified, less competitive, and more vulnerable to exogenous shocks. Nevertheless, the government continues with plans to diversify the economy, increase export of value added products, and develop a formal economy by 2030 despite two years of economic crisis that reduced investment spending. Chad’s exports go to the United States of America, China, France, Germany, Portugal, and other regional trading partners. Chad’s economy remains fragile and is vulnerable to considerable risk, such as oil price volatility and regional insecurity. The country would, therefore, benefit from investment in key sectors, such as infrastructure, education, and health to mitigate these risks. The World Bank’s Doing Business report for 2020 records Chad’s improved position in implementing reforms to make it easier to do business. Property registration has become faster and access to credit information has improved. Sources: US State Department Chad – Market Overview | export.gov; World Bank – Chad Overview: Development news, research, data | World Bank; World Bank (2018) Escaping Chad’s Growth Labyrinth; World Bank (2020), Doing Business: Comparing Business Regulation in 190 Economies. Hamilton, L. & Webster, P., 2018. The International Business Environment. 4th ed. Oxford: Oxford University Press.