INT 400 Final Project
Overview
The final project for this course is the creation of a risk
management report.
In any business situation, a manager will face a series of
challenges. This course explores specific contemporary challenges in
international business, preparing
you for the managerial decisions that you will make in
future courses and in global business. The best approach in addressing these
issues and challenges is to
identify and prepare for risks in various international
markets. It is essential to be able to identify, evaluate, and categorize risks
based on their impact on the
organization and explore how you will address them to
maximize your opportunities. This approach will be vital in evaluating the
prospects of future
international business pursuits in your professional career.
This project will prepare you for these situations. You will
review various case studies representing the Latin American market, from which
you will identify,
evaluate, and prioritize risks of the region for the purpose
of developing various risk management strategies. You will then defend your
strategies based on your
expertise and how you feel they best address the risks that
may potentially impact the organization.
The project is divided into two milestones, which will be
submitted at various points throughout the course to scaffold learning and
ensure quality final
submissions. These milestones will be submitted in Modules
Three and Five. The final submission is due in Module Seven.
In this assignment, you will demonstrate your mastery of the
following course outcomes:
? Evaluate the extent to which social,
political, economic and environmental challenges impact international business
activities
? Develop risk management strategies for
addressing contemporary issues in international business at the management
level
? Recommend risk mitigation strategies
and contingency plans that adhere to legal and ethical standards in
international business
? Defend the efficacy of risk management
strategies in addressing international management challenges and cross-cultural
differences
Prompt
Imagine you have been appointed to the risk committee of the
organization represented in the provided case studies. As a member of this
committee, you will
work to identify and evaluate risks to your organization and
then provide management strategies for addressing those risks.
Specifically, the following critical elements must be
addressed:
I. Risk Evaluation: For this part of the project, you will
identify and evaluate the extent to which risks in the region may impact the
well-being of the
organization.
A. Evaluate the effect of economic risks present in the region
that the organization will have to account for. Be sure to use the economic
characteristics of the region in your evaluation.
B. Assess the impact of environmental challenges that the
organization will be faced with while operating in this region. Be sure to use
the
environmental characteristics of the region in your
evaluation. For example, you could consider transportation costs, market
demand, and
production regarding operating in the region.
C. Appraise the political atmosphere within this region for
its impact on the organization. Be sure to use the political characteristics of
the region in
your evaluation. What issues could arise because of
political volatility, and how will these impact the organization?
D. Evaluate the effect of the cultural and social risks of
the region that will pose a threat to the well-being of the organization. Be
sure to use the
cultural and social characteristics of the region in your
evaluation.
II. Strategy Development: In this part of the project, you
will begin to develop strategies for addressing the previously identified
risks. Be sure that your
strategies are informed by your previous analysis of risk.
A. Determine the type of each identified risk based on how
it can be addressed by the organization. For example, can any of the risks be
minimized
through operational changes? Which of them would require an
insurance policy? Can any of them be self-insured by reserving funds?
B. Prioritize the risks and exposures that you have
previously identified in order of precedence for the organization to address.
Be sure to support
your response with appropriate research.
C. Outline the legal and ethical standards and
cross-cultural differences associated with the region that might influence the
development of your
risk mitigation strategies.
D. For each of the previously identified risks, develop risk
mitigation strategies that:
1. Incorporate the measures that should be taken by the
organization in addressing each of the identified risks.
2. Incorporate appropriate legal and ethical guidelines
pertinent to the organization and the region the organization is operating in.
3. Illustrate methods for addressing cross-cultural
differences pertinent to the organization and the region the organization is
operating in.
III. Defense: In this part of the project, you will defend
your decisions regarding your strategies. You will compile research and other
supporting evidence
before developing a justification for the implementation of
your strategies. You will also develop contingency plans should your strategies
be ineffective
or inappropriate for the situation.
A. Determine the approximate costs and benefits associated
with employing your risk management strategies and explain how this helps to
justify
the strategy. For example, are these risk management
strategies cost effective for the organization?
B. Explain the importance of addressing cross-cultural
differences in the development of risk mitigation strategies. For example, what
decisions did
you make differently in order to address cross-cultural
differences, and what would happen if you did not factor in these differences?
C. Defend your risk management strategies based on how well
they will account for the previously analyzed risks. Be sure to support your
response with appropriate examples and research. For
example, how have other organizations approached risk management in similar
situations?
D. Develop a contingency plan should the strategy prove
ineffective or inappropriate for the particular situation. Be sure that your
contingency
plans align with appropriate legal and ethical standards.
For example, how would you prepare for unforeseen circumstances? How would you
advise the organization should something go awry?
Milestones
Milestone One: Risk Evaluation
In Module Three, you will submit Milestone One: Risk
Evaluation. As a member of a risk committee, your first step will be to
identify and evaluate the extent to
which risks in the region may impact the well-being of the
organization. This milestone is graded with the Milestone One Rubric.
Milestone Two: Strategy Development
In Module Five, you will submit Milestone Two: Strategy
Development. In this milestone, you will begin to develop strategies for
addressing the risks you
identified in Milestone One. Be sure that your strategies
are informed by your previous analysis of risk. Take note of the feedback from
your instructor on
Milestone One before moving ahead with Milestone Two. You
will also resubmit a revised Milestone One with your Milestone Two content.
This milestone is
graded with the Milestone Two Rubric.
Final Submission: Risk Management Report
In Module Seven, you will revise Milestones One and Two
based on feedback and new information gained throughout the course, develop
Section III: Defense,
and submit your complete individual risk management report.
It should be a complete, polished artifact containing all of the critical
elements of the final project.
This final submission will be graded using the Final Project
Rubric.
