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Module Code & Module Title

MN6088NI Business without Frontiers

Year and Semester

2021-2022 Autumn
Assessment Weightage & Type

50% Individual Coursework

Student Name: Ayush Budhathoki

London Met ID: 18030150

College ID: NP01BA4A180071

Assignment Due Date: 5th Jan 2022

Assignment Submission Date: 5th Jan 2022

I confirm that I understand my coursework needs to be submitted online via Google Classroom under the

relevant module page before the deadline in order for my assignment to be accepted and marked. I am fully

aware that late submissions will be treated as non-submission and a mark of zero will be awarded.
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Contents
Executive Summary ................................................................................................................... 3

Introduction ................................................................................................................................ 4

Market Analysis of Brazil’s Emerging Markets ........................................................................ 5

Porter's five competitive theories:.............................................................................................. 6

Competition in the industry: ...................................................................................................... 7

The Threat of Substitutes: .......................................................................................................... 8

Cultural system of Brazil (Under Hofstede's Dimension) ......................................................... 9

Recommendations for Managers ............................................................................................. 11

Conclusion ............................................................................................................................... 13

References ................................................................................................................................ 14
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Executive Summary

Many people wish to work in emerging markets because of the chances they offer,

which could help them advance in their careers. Working in an emerging market can be

incredibly helpful for someone who is attempting to build a career, but it can also be very

difficult. Organizations appreciate the importance of employee engagement and its impact on

productivity levels, which is why they seek out a diverse range of employees from across the

world who understand their value. When we look at emerging markets and the organizations

that operate in them, we can see that people from all over the world collaborate within the

organization. This paper examines Brazil's emerging market using data and facts, as well as a

discussion of how people might find and work in Brazil's rising market. The paper discusses

and offers solutions for how employees from all over the world might operate in Brazil's

rising economy. Porter's five competitive theories and Hofstede's cultural dimension theory

are utilized in this study's analysis. Working in a foreign environment and that also in one of

the emerging markets of the world is very challenging and hard but after adapting to the

working culture and environment of the market, the opportunities that people can get are very

high and career developing. The employees and management can professionally build their

career if they can work in an emerging market so most of them seek opportunities to work in

an emerging market such as India, China, Pakistan, Brazil, etc.

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Introduction

Not long ago, employees or managers might expect to find a solid job and stay there

for the rest of their careers. Employees in numerous career paths also expected their

employers to look after them, giving them raises, promotions, and benefits when they earned

them, and allowing them to stay at the company for as long as they wished. Job loss was not

prevalent at the time. Workers in all fields are changing jobs and employers more frequently

these days. The work market has evolved dramatically in recent years as a result of the

opportunities available. The job market has been greatly influenced by emerging markets and

globalization. Employees nowadays strive to build abilities that will assist them in obtaining

whatever type of job they choose on a global scale (Casper, et al., 2017). Employees and

managers are attempting to work in the worldwide market, also known as the emerging

market because it offers a plethora of options to help them define their careers. Because each

employee's productivity has an impact on the organization's goals, each employee must have

abilities that will assist the organization in achieving its objectives. Employee performance is

critical for firms, which is why organizations in emerging markets try to hire people from the

international market who can help them succeed in today's business world (Khan & Jabbar,

2013). A developing business sector economy is a non-industrial country's economy that is

becoming more integrated with global business sectors as it develops. Nations with a few, but

not all, of the characteristics of a formed market, are referred to as growing business sector

economies. A developing business sector economy is transitioning from a low-paying, low-

growth, pre-modern economy to a cutting-edge, modern economy with a higher standard of

living. Brazil is currently one of the most remarkable developing business sector economies

in the world (Ezzamel & Xiao, 2011).

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Market Analysis of Brazil’s Emerging Markets

The majority of developing countries' business sectors lack the same level of market

and administrative organization as developed countries. Market efficiency and strict

bookkeeping and protective guidelines are generally not comparable to advanced economies

(such as the United States and Europe), but growing business sectors typically have the actual

monetary structure, which includes banks, a stock exchange, and a pooled currency. Brazil is

the world's tenth-largest economy and the largest in Latin America, with a GDP of $1.86

trillion. Brazil has been one of the world's fastest developing economies until 2012. The

Brazilian economy has developed into one of the world's most dynamic business sectors

(Bianchi, et al., 2018). There appears to have been a significant shift in the way Brazil's

economy is portrayed. Rather than the monetary unpredictability that has characterized its

economy for a long time, Brazil is being praised for its general cost strength, financial

commitment, and rapid growth. Brazil is known for its product capabilities in industries such

as soya, steel, cotton, oil, biofuels, and domestic airplanes. As if that weren't enough, the

rebound of the Brazilian economy has been linked to a reduction in pay disparities and the

occurrence of extreme poverty. As a result, Brazil is offered as an example of how progress

and value are similar. Brazil's development graph has been uneven, with periods of

extraordinarily rapid growth followed by abrupt periods of stagnation, similar to plunges

(Aman & Baer, 2012). Despite its economic downturns, Brazil has done a great deal.

Between 2003 and 2012, the country's levels of neediness and pay disparity showed constant

improvement and decreased. According to the World Bank, "between 2003 and 2014, the pay

level of the poorest 41% of the population increased by an average of 7.2 percent (in real

terms), compared to a 4.5 percent increase in pay for the entire population." The arrangement

of Brazil's economy reflects the importance of its administration sector, which accounts for
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over 64 percent of the country's GDP. The industry is an optional sector that accounts for less

than one-fifth of the GDP (Angelo, et al., 2010).

Brazil has a very much differentiated and all-around created modern area. The

development in the modern movement was at its pinnacle while the course of import

replacement has been completed in the country. In such a developing business sector

economy, there are bunches of chances for the representatives and the chiefs which is the

reason workers and directors from various regions of the planet look for a chance to work in

developing business economies like Brazil. It is hard for worldwide representatives and

directors to work in the developing business sector, for example, Brazil because the

workplace and the functioning style can be not quite the same as the safe place of the

representatives and the supervisors.

Porter's five competitive theories:

Porter's Five Forces model identifies and explores five ruthless forces that shape each

industry and determine its flaws and virtues. A Five Forces analysis is occasionally used to

determine business methodology by recognizing an industry's design. Porter's five abilities

are regularly used by key examiners to determine whether new products or services are likely

to be successful. The hypothesis can also be used to identify spaces of solidarity, to improve

deficiencies, and to avoid mistakes by determining where power lies. The Five Forces model

is commonly used to examine a company's industry structure and corporate strategy. With

certain qualifiers, Porter identified five indisputable forces that shape every market and

business in the globe (Dobbs, 2014). After learning about all five forces, managers can use

this theory to design plans for the development of the Service Sector in Brazil.
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Competition in the industry:

Brazil's service sector is highly competitive due to its status as a developing market.

Brazil's services sector is the most important, accounting for over 66 percent of the country's

GDP. Many organizations centered and focused on delivering services are established daily,

increasing competition among companies in the country. In almost every corner of the world,

there is fierce competition in the service sector.

Potential of new entrants into the industry:

The force of new entrants into a market has an impact on a company's power. Because

Brazil is an emerging market, many service-oriented businesses are springing up, implying

that the impact of new entrants is significant. Many service-provider companies or

organizations are springing up in Brazil's market one after the other. Given that the service

industry is the fastest-growing sector of the Brazilian economy, many investors are flocking

to the sector, resulting in a rise in new entrants.

Power of Suppliers:

The fifth power model's next angle thinks about how rapidly providers might raise

input costs. It is impacted by the number of providers of an item's or alternately

administration's fundamental sources of info, how one of a kind these information sources

are, and how much changing to another source would cost a company. The fewer providers in

an industry, the more dependent an organization is on them. Therefore, the provider has more

clout and can raise input expenses and request other exchange benefits. At the point when an

organization has countless providers or low exchanging costs between contender providers,

then again, it can keep its feedback costs low and increment its benefits. The benefits of a

firm are conveyed to its providers.

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Power of Customers:

Customers are the main factor who determines the success and the failure of the

market. Customers are crucial since they are the source of money; without them, businesses

would cease to exist. To attract customers, all businesses compete with one another, either by

aggressively advertising their products, cutting prices to extend their customer bases, or

providing distinctive products and experiences that people enjoy (Kidron & Kreis, 2020).

One of the five powers is the capacity that clients require to reduce costs or their level of

force. It is influenced by the number of customers or clients a company has, the size of each

client, and the expense of finding new clients or markets for the company's product. A

smaller, but more notable, customer base means that each client has a greater capacity to

haggle for cheaper prices and better terms. A firm with a large number of smaller, self-

contained clients will make some simpler memories by charging more extravagant fees to

increase profit.

The Threat of Substitutes:

In Brazil, the threat of service sector replacement is quite real. As an emerging

market, many businesses are expanding their operations and entering the Brazilian service

sector, which means that businesses can be replaced by customers. The greater the number of

businesses, the greater the risk of replacement. Alternative goods or services that can be

utilized in place of a company's products or services are a danger. Companies that

manufacture goods or services with no near substitutes will have more freedom to raise prices

and secure favorable terms. Customers will be able to forego purchasing a company's product

if close substitutes are accessible, eroding the company's influence.

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Cultural system of Brazil (Under Hofstede's Dimension)

Power Distance:

The power distance regulates the fact that not everyone is a social system is equal.

Brazil reflects a public that believes that order should be respected and that individual

imbalances are acceptable. The unique appropriation of force legitimizes the fact that those in

positions of power enjoy a greater number of advantages than those who are less powerful in

public perception. Recognizing the old in Brazil is crucial (and youngsters take care of their

old guardians). In most organizations, there is a single supervisor who is in charge. To

survive in such a culture, employees must learn to respect their superiors. Employees must

follow superiors and demonstrate that they value and respect them to survive in such a

society's market.

Individualism:
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Individualist civilizations expect people to look after only themselves and their

immediate family. Brazil has a score of 38, indicating that people in this country are born into

strong, cohesive groups (especially the extended family, which includes uncles, aunts,

grandparents, and cousins) that continue to protect their members in exchange for loyalty.

This indicates that to succeed in Brazil's rising economy, one must demonstrate respect for

seniors and commitment to higher-ups. It is critical for an employee and his or her

management to establish trusting and long-term relationships.

Masculinity:

A masculine society indicates that competition, achievement, and success will drive

society. Brazil's society is neither masculine nor feminine, which means that employees must

understand how to operate in an organization by the principles of the company they work for.

Employees must be able to distinguish between masculine and feminine behavior.

Uncertainty Avoidance:

Uncertainty is a dimension. The method a society deal with the knowledge that the

future can never be predicted is called avoidance. To arrange life, Brazilian society has a

significant demand for rules and extensive legal systems. Employees and supervisors must

follow these laws to operate and survive in Brazil's growing market, yet enforcement is lax. If

the rules cannot be followed, new ones must be established. If employees and managers want

to work in the Brazilian workplace, they must demonstrate emotion. Employees must regard

bureaucracy, regulations, and rules to make the world a safer place to live in, according to

Brazilian culture.

Long-term Orientation:
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The long-term orientation describes how, despite dealing with the issues of the

present and future, every community must maintain some linkages to its past, and

civilizations prioritize these two existential aims differently. Brazil sits in the middle of this

scale, which implies that employees must understand and accept that they work in an

environment where they must be future-oriented when necessary and work solely for today's

needs when necessary. Employees will struggle to survive in Brazil's developing market if

they are unaware of this. Employees must understand when and where to concentrate on

short- and long-term objectives.

Indulgence:

The degree to which little children are socialized is a difficulty that humanity faces

now and in the past. Indulgence is described as how far people try to control their desires and

impulses as a result of their upbringing. Because Brazil is an indulgent society, employees

must have a good mindset and a proclivity for optimism. Employees who want to work in

Brazil's rising market environment must be willing to follow their instincts and wants when it

comes to enjoying life and having fun.

Recommendations for Managers

Being a manager in an international market is a very hard job. One must have various

skills and should develop various skills to be a successful manager in the emerging market such

as Brazil. In both the created and creating universes, opportunity involves difficult work,

stretch tasks, progressing preparing and advancement, and serious compensation. Opportunity,

then again, in developing business sectors should show a faster profession way to senior

positions. Supervisors that will work in a developing business sector normally have a drawn

out vision, subsequently the organization employing them should know about that vision and

point. In arising economies, enlisting can be troublesome on the grounds that few associations
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are by and large vieing for work force with something similar or comparative ranges of abilities.

Thus, to utilize an incredible director, the organization should exhibit that they are keen on the

administration and should give the chief different conveniences just as a cutthroat pay.

Applicants looking for a firm they can trust just as a climate in which they can develop and

flourish. Organizations should consider the director's way of life to exhibit that they care about

the administration they wish to enroll. Offering remote and virtual decisions, initiative

advancement prospects, an aware culture, and cutthroat compensation and advantages will go

similarly to the extent the expected set of responsibilities itself in enrolling the best person.

Workers need to feel appreciated and a piece of more than simply a check and fundamental

commitments, subsequently, firms should carry on like it to employ an administrator they need.

Living in a different market in a foreign country is a once-in-a-lifetime opportunity. To hire

the management that the firm want, the corporation needs demonstrate that they would provide

the manager with several benefits. For example, the corporation could offer bonuses to the

management, incentivizing them to work for the company rather than staying in their home

nation. The business might also guarantee that they would assist the manager if necessary. They

can supply manager with amenities such as financial assistance if the manager want to visit

their family, demonstrating that the organization is interested in hiring the manager by

providing various amenities. To be successful in emerging markets such as Brazil’s emerging

market as a manager, One must have various skills that are discussed below:

1) Be prepared for obstacles: Emerging markets can be plagued with unpredictability,

which can make it difficult to conduct business smoothly and consistently. In

emerging markets, civil unrest, financial upheaval, political instability, and corruption

are all potentially mitigating factors. If managers wish to exist and work in emerging

markets, they must be prepared to tackle these varied hurdles. Managers must
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recognize that they will confront a variety of obstacles in the rising market and that

they will need to develop a variety of abilities to help them overcome these

challenges.

2) Learn about the Culture: Learning about the culture of the place you want to work

is very important because it helps you to be ready for opportunities and challenges.

Managers must be acquainted with the country's culture, as Brazil's culture is

extensive and extremely significant to its citizens. This would enable the management

to remain in the market for a longer time.

3) Understand the operating market: Local laws, regional politics, sourcing

requirements and issues, culture, and the business environment will all have an impact

on how your company can function and work in that market, therefore managers must

first learn about the area they wish to work in. They must conduct a thorough

background study before joining the rising industry in question. This will aid

managers in preparing for their future in that rising market.

Conclusion

Developing business sector economies are progressively moving their concentration

away from farming and asset extraction and toward modern and assembling movement. To

encourage financial development and industrialization states in developing business sector

economies as often as possible follow deliberate modern and exchange plans. Brazil is

additionally focusing and turning out to be more industrialized, which is the reason the

assistance area is the country's biggest business and the monetary area is by a wide margin the

most significant of the administrations business in Brazil. Since the slump and downturn of

2014, Brazil has started reappearing. With an eye on its future development direction, the Latin

American nation is additionally executing essential changes. Raising efficiency, intensity, and
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venture are terrifically significant elements in accomplishing compelling development rates in

such a manner. Brazil is a land of opportunity for employees and managers who want to work

in the emerging market to develop or make their careers. Even though it might be difficult, it

is not impossible to work in emerging markets such as Brazil. Managers and employees will

face various problems but developing various skills as discussed above can help them to work

in the emerging market economy such as Brazil.

References

Aman, E. & Baer, W., 2012. Brazil as an emerging economy: a new economic miracle?.

Brazilian Journal of Political Economy, 32(3), pp. 412-423.

Angelo, C. F. d., Eunni, R. V. & Dias Fouto, N. M. M., 2010. Determinants of FDI in

emerging markets: evidence from Brazil. International Journal of Commerce and

Management, 20(3), pp. 203-216.

Bianchi, C., Carneiro, J. & Wickramasekera, R., 2018. Internationalization commitment of

emerging market firms: A comparative study of Chile and Brazil. Journal of Small Business

and Enterprise Development, 25(2), pp. 201-221.

Casper, A., Sonnentag, S. & Tremmel, S., 2017. Mindset matters: the role of employees’

stress mindset for day-specific reactions to workload anticipation. European Journal of Work

and Organizational Psychology, 26(6), pp. 798-810.

Dobbs, M. E., 2014. Guidelines for applying Porter's five forces framework: a set of industry

analysis templates. Competitiveness Review, 24(1), pp. 32-45.

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Ezzamel, M. & Xiao, J. Z., 2011. Accounting in Transitional and Emerging Market

Economies. European Accounting Review, 20(4), pp. 625-637.

Khan, M. M. & Jabbar, M., 2013. Determinants of Employees Performance in Corporate

Sector: Case of an Emerging Market. Business and Management Research, 2(3), pp. 1-8.

Kidron, A. & Kreis, Y., 2020. Listening to bank customers: the meaning of trust.

International Journal of Quality and Service Sciences, 12(3), pp. 355-370.