Prepare a 6-column, 5-row chart for the following countries and parameters:
Columns (countries) are:
Rows (factors to research) for each country are:
Average manufacturing wage
Country’s minimum wage
Typical restrictive work rules where there are unions
How unions enhance or detract from company results
Country’s unemployment rate
It is unlikely that you will find all of the necessary data in one online database. Instead, you will have to research a number of different ones.
In addition, in some cases you may have to make calculations from a “base=100” report to get an actual dollar figure.
Ensure that you cite the references used, in proper APA format.
Wikipedia is an unacceptable reference
For minimum wages, try one of the following sites:
Minimum Wages database
List of minimum wages by country
For unemployment percentages try the following site:
Unemployment rate (most recent) by country (be sure to note the year of the data)
Your recommendation summary should explain which country you recommend for the future overseas expansion, based solely on the HR in your chart.
|Average manufacturing wage||15 USD per day||18 USD per day||5.21 USD/Day||21 USD peer day||111.60 index points/month||105.20 index points/month|
|Minimum wage||15,175 USD per annual||2,125 USD/ annual||760-2551 USD/annual||1661 USD per annual||No statutory min. wage||23750 USD per annual|
|Restrictive work rules where there are unions||Presence of unions which negotiate various issues||Few unions which have little power over employers||Labor unions negotiate on behalf of employees||Lack of independent trade unions and no right to strike||Presence of trade unions||Presence of labor unions which regulate the labor market|
|How unions enhance or detract for company results||Labor unions regulate wages, salaries, and terms of engagement
|Workers’ rights not protected by the labor unions.||Trade unions work towards the betterment and welfare of workers||More strikes as workers demand for better terms of employment affecting performance||Trade unions agitate for the rights of workers||Unions ensure that employers and employees agree on contentious issues|
|Country’s unemployment rate||3.7||4.9||3.6||4.7||12.5||5.0|
From the analysis, the best country to invest in would be China. China has an unemployment rate of 4.7 meaning it would be easy to hire employees at the current wage rates. In addition, China has an average minimum wage of $ 1661 per annual. The minimum wage is not exorbitantly high meaning that an organization can be able to pay the minimum wage and remain competitive. Countries such as Germany and Japan which have a high minimum wage requirement are not attractive for investment. The high minimum wage reduce the competitiveness of the organization’s products in the global market. In China, there are no independent trade unions. On some occasions, the government does not allow workers to strike. The organization should pay workers above the minimum wage in order to improve their satisfaction and performance.
The World Bank. (2015). Unemployment, total (% of total labor force). Retrieved from: http://data.worldbank.org/indicator/SL.UEM.TOTL.ZS
Trading Economics. (2015). Minimum Wages. Retrieved from: http://www.tradingeconomics.com/country-list/minimum-wages
Trading Economics. (2015). Wages in Manufacturing. Retrieved from: http://www.tradingeconomics.com/country-list/wages-in-manufacturing