Economic Impacts on Talent Management
For this assignment, you are to analyze the different economic opportunities in Japan and Turkey.
Imagine your company produces a hybrid scooter that is suddenly popular because it uses solar energy
exclusively and can hold a charge for more than one week or 1,000 miles. This affordable transportation
alternative appeals to women and men of all ages. You are responsible for hiring a sales representative
for this company. Your sales representative will be introducing the product to these new markets (Japan
and Turkey), but keep in mind that the product is known through television and other media. The initial
tasks for this sales representative will be to set up offices in your selected country, create marketing
materials appropriate to their home culture, and negotiate contracts with appropriate dealerships in their
market.
Make a recommendation to your management team that demonstrates your analysis of different
economic opportunities for Japan and Turkey. You may want to refer to The World Factbook for more
demographics information.
Address the following in your paper:
� Compare the market for this product in Japan and Turkey.
ECONOMIC IMPACTS ON TALENT MANAGEMENT 2
� Compare the data on age, economy, labor, literacy, and unemployment rate for Japan and Turkey.
How do these findings affect your company’s ability to attract talent there?
� Out of Japan and Turkey, which is more likely to have an employee base with the skill sets necessary
for your industry?
Japan
� Bering Guides. (2003). Business travel in Japan. Lindon, UT: Axiom Press.
� Going Global. (2013). Going global career and employment resource guide for Japan. Japan Career
Guide, 1�137.
� IHS Global. (2014). Country reports: Country outlook: Economic � Japan. Japan Country Monitor,
1�14.
� World Trade Press. (2010). Japan: Society and culture. Petaluma, CA: Author.
Turkey
� Business Monitor International. (2014). Turkey business forecast report, (3), 1�47.
� World Trade Press. (2010). Turkey: Society and culture. Petaluma, CA: Author.
� World Trade Press. (2010). Turkey: Women in culture, business, and travel. Petaluma, CA: Author.
Introduction
Trade relations between Japan and Turkey have evolved since the 19th century. In the
1980s, sources assert that a consortium of Japanese firms constructed a bridge that connected
Asia and Europe. Through this, the Japanese companies began making partnerships with the
Turkish conglomerates and provided loans and investment opportunities for the Turkish. Today,
ECONOMIC IMPACTS ON TALENT MANAGEMENT 3
the trade markets and economic relations between these two countries have immensely evolved.
Some of the multinational companies have found internationalized markets in these countries
(Eece, 2014). Direct investments amid Japan and Turkey the two have also considerably
increased with both the country entering into negotiations for a Free Trade Partnership
Agreement.
Turkey’s economy is dominated by a blend of traditional craftsmanship and modern
industrial companies with the latter dominating the market. The country also has a rapid growing
mainly experienced in the private sector ventures. On the other hand, Japan is experiencing a
steady and first growing economy with the private sector businesses thriving well in the market.
New companies are created with the existing ones experiencing growth levels. This depicts the
growth levels of the economy of this country (Eece, 2014). This paper, therefore, seeks to
investigate the different economic opportunities in Japan and Turkey.
Compare the market for this product in Japan and Turkey
Although Japan and Turkey are considered as growing nations, it is significant to realize
that Japans economic growth supersedes Turkey’s growth, with the GDP per capita also
registering higher. Japan. With the huge population rate of Turkey, it is important to note that
there would be a shift in the economy since the demographic dividend gives Turkey an
advantage. Japan’s largest age group tends to be higher as compared to that of Turkey (Komine,
& Kabe, 2009). Most of these persons between these age groups have gone through higher
education with a big number of this population working actively.
Turkey’s economy is however bound to grow at an alarming rate a factor that will have
an impact on the market trends. When Turkey overcomes the challenges in education,
ECONOMIC IMPACTS ON TALENT MANAGEMENT 4
unemployment, and labor markets, the long-term economic health of the country would be
improved. With this is taken into consideration, it is important to notice that for this business to
find a base in the market, both the markets would be favorable for the business (Komine, &
Kabe, 2009). Considering the target audiences within these countries, it is important to point out
the largest client base will be on the youth and women who hold the most significant part of the
population in both the countries.
Compare of the Data between the two Countries
According to sources, the unemployment rates in Japan have over time decreased by up
to 3.40 percent from February this year. The unemployment rate in the country also stood out at
2.72 percent as per the statements from the relevant authorities in the country (Kotha, Zheng, &
George, 2011). In terms of employment, close to 71 percent of the population group aged
between 15 to 64 in Japan have fully paid up jobs. 80% of men in Japan are in fully paid work,
as compared to 61% of women in the country. It is also crucial to note that people in Japan work
1145 hours in a year since the employment rates are generally higher for people who have gone
through higher education. It is also estimated that 81%of the individuals who undergo tertiary
education have better-paying jobs as compared to those without upper secondary education.
On the other hand, as at 2012, Turkey had a population of close to 80 million people with
the median age of 28.8 years. This makes the country the most populated in the world. The rate
of unemployment seems high especially in the rural areas. The percentages of unemployment in
the country are considerably higher than the national average (Kotha, Zheng, & George, 2011).
Close to 70% of the country’s population is made up of women and the youths. Education
ECONOMIC IMPACTS ON TALENT MANAGEMENT 5
remains the backbone of the growth of the country, with close to 75% of the country’s
population working.
Considering the outcomes of the data provided in this section, it is important to realize
that for the scooter business to yield the expected results, there are factors that should be
considered. Business need to plan for the massive impacts that are caused by the demographics
of a country since they determine how customers behave. An organization that fails to
understand the demographics of a country is bound to fail in, market venture. However, those
organizations that understand the demographical shifts may take over the markets to a large
extent. According to the data provided, the scooters would be a cost effective transport utility for
many of the populations in the two countries (Kotha, Zheng, & George, 2011). However, the
sales of the scooters depend on the particular target audience. Since Japan is heavily populated
with women and the youths, this business would thrive so well in the market. Ages of the target
audience also determine the strength of the marketplace.
Conclusion
Japan remains the most influential country that can form a base for our company in the
employment sector. Since the company is a fast-growing economy in the digital world, an
increase in demand for skilled workers is, therefore, one of the fundamental aspects that our
company would consider. The country has a growing trend in the digital marketing literacy, a
factor that makes the workforce in Japan efficient in service. The countries growing market is
also a factor that our company will consider in reaching the target market.
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References
Eece, D. J. (2014). The Foundations of Enterprise Performance: Dynamic and Ordinary
Capabilities in an (Economic) Theory of Firms. Academy Of Management
Perspectives, 28(4), 328-352.
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Komine, T., & Kabe, S. (2009). Long-Term Forecast of the Demographic Transition in Japan
and Asia. Asian Economic Policy Review, 4(1), 19-38.
Kotha, R., Zheng, Y., & George, G. (2011). Entry into new niches: the effects of firm age and
the expansion of technological capabilities on innovative output and impact. Strategic
Management Journal, 32(9)
