Transportation in Venice: Liam McDonough JUNE 2017 | VOLUME 10 BACHELOR OF COMMERCE BEST BUSINESS RESEARCH PAPERS 2 Table of Contents Note from the Editor 4 International Business Research Experience 5 Terrorism Takes a Toll on Tourism 7 Innovation in a Shifting Landscape 20 Role of Corporate Social Responsibility Strategies Affecting the Corporate Image 31 The New Dutch East India Company 42 Analysis of the Global Mindset on Chinese Brands 52 Hyundai Motor Manufacturing Czech and the Czech Republic 61 Closure Wars 73 How Siestas Are Changing Global Business 86 Conscription in Europe 93 Mittelstand and International Business 107 3 Note from the Editor Business education is changing. Technology is becoming increasingly central to education worldwide (e.g., the growing popularity of massive open online courses); academia is working closely with the industry to better prepare students for future careers; finally, institution‐industry partnership in research endeavours is becoming critical for both parties. While all these changes are important, it is the process of rapid internationalization that is truly transforming the global business education. According to the University of Oxford’s report, International Trends in Higher Education (2015), there are more than five million students worldwide completing all or part of their degree outside their home country. Here at Gustavson, we are proud that more than 91% of our Bachelor of Commerce (BCom) decided to participate in an international exchange program next Fall. To inspire our outgoing students and to honour the effort of those who already completed their exchange term, we present Best Business Research Papers Volume 10. While on exchange, our students attend classes at a partner university and develop their professional and personal networks, but most importantly, they explore foreign cultures and foreign business practices. Those who desire to hone their research skills, get a chance to write a business case study as a part of the International Business Research (COM70) course. In this 10th anniversary edition, we proudly present our 10 most interesting research papers prepared by Gustavson undergraduate students. Past papers have covered issues such as money laundering, aging workforce and human resources management strategies, corporate social responsibility and craft beer manufacturing, and many more. This year our students describe linkages between CSR strategies and the corporate image, terrorism and its effect on the tourism industry, and discuss the impact of political systems and culture on doing business in Europe. Regardless of the topic, these best‐in‐class papers highlight the experience our students gain through significant and thoughtful research with a focus on business around the world. We also hope that these excellent papers inspire more students to participate in the exchange program and to engage in international business research. Finally, we would like to take this opportunity to congratulate Mark Speakman on receiving the Jamie Cassel’s Undergraduate Research Awards (JCURA) this year. Mark is only the second business student to win in the history of the award and we could not be more proud of him and his achievement. Mark researched Foxconn’s, the Chinese electronics giant, manufacturing plant and labour practices during his exchange term in the Czech Republic. His article is currently under review at the Arbutus Review. The UVic Gustavson School of Business is proud to present these best research papers from our 2016‐2017 COM 470 students. As always, this would not be possible without the hard work of a group of dedicated individuals. Thank you to the International Programs team of Dr. A.R. Elangovan, Director; Brian Leacock, Associate Director; Jane Collins, Manager, International Exchange; Allen Sun, International Recruitment Officer and China Specialist; Sheri Love, IP Development Officer; Elsa Yan, Exchange Student Advisor; Christina Hernandez, International Student Advisor; Giordi Giacomelli, IP Assistant; as well as Audrey Audebert, BCom Advising Officer and Shannon Perdigao, Academic Projects Officer. On behalf of everyone involved, we hope you enjoy Volume 10 of the BCOM Best Business Research Papers. Mike Szymanski and the Editorial Team COM 470 International Business Research Instructor Editor, Best Business Research Papers, Volume 10 4 International Business Research Experience My international experience in France was phenomenal, for the fact that I had the pleasure to discover France’s culture, learn the language and experience the famous gastronomy. Experiencing France’s famed aspects was incredible, but what defined my exchange, in both a good and bad way, was the presence of terrorism within the country. It certainly distilled a constant level of fear during my time, which was stressful; however, it also presented me with the great opportunity to explore and gain a better perspective about the issues surrounding immigration, politics and terrorism to better understand their cause and impacts within France. Reilly Baldwin Going on exchange is an excellent opportunity to not only study in a new environment and experience cultures, but also to broaden your perspective about business and see things differently. Conducting international research about Atomic empowered me to apply business concepts I learned at Gustavson and while on exchange to real challenges faced in the ski industry and other industries in Austria, Canada and globally. This was a wonderful opportunity to dive deeper and further my understanding of business in Austria while examining solutions and responses for a relevant issue going forward. Taylor Cain After having lived abroad in Europe, as well as in South America, I wanted my Gustavson Exchange experience to be different from anything I had exposed myself to before. Hong Kong provided me the opportunity to explore yet another way of thinking and of life, this time within the context of my business degree and my passion for international affairs. Being able to immerse myself into the business environment through my research as well as into the day‐to‐day culture opened my eyes to how culture and our environments impact the way in which corporations conduct business. My biggest take‐away was learning and applying this knowledge about the socio‐ cultural and political environments that surrounds societies and the way in which corporations are able to succeed in these differing environments. Hayley Fairbanks Anyone who knows me knows that I hate being given a detailed project topic and asked to follow strict criteria. Not only do I hate it, I am bad at it. So when I heard that there was a course where you could write a paper on exchange about any business topic you wanted, I was excited to put my energy into something with endless possibilities. Writing this paper involved two things that I am pretty good at: writing with little direction given, and hitting the pavement, annoying unsuspecting victims. Tilburg was a great experience and I will always remember the hospitality of Smartwares Group. Will Goldbeck My exchange experience coupled with the COM 470 Research Paper provided me with an incredible opportunity to build on and expand my international experience. Working on my COM 470 paper allowed me to develop and build a stronger insight into Hong Kong, and more specifically, China through an academic lens of creative license and independent research that I otherwise would not have experienced. The independent research gave me the opportunity to strongly improve and develop my research and writing skills in a setting that was both fascinating and challenging. Overall, the course paired with the international experience was an interesting and rewarding experience. Lukas Larsson 5 When I left for exchange, my intention was to avoid writing the COM 470 research paper. However, for various reasons I ended up writing it, and cannot emphasize enough how glad I am that I did. Was it challenging? Absolutely. Frustrating at times? Undoubtedly. But despite this, the good far outweighed the bad. I spoke with some incredible people, became infinitely more comfortable doing research, and learned so much about the Czech Republic that I otherwise would not have. Overall, I truly feel that writing the COM 470 research paper gave me a more complete exchange experience. Chris McEachran‐Law I was lucky enough to go on exchange to NOVA School of Business and Economics in Lisbon, Portugal. The connections and experiences that I had on exchange were incredible and I know that I will always have fond memories of those four months. The depth of knowledge that I gained by doing international research enhanced my experience because I was able to see, and think critically about, the business phenomenon that I was researching. I can honestly say that I will never be able to open a bottle of wine without thinking about my research on corks and my exchange experience as a whole! Natalie McIver Having the opportunity to research siestas was an engaging experience, complemented by the fact that I was living in Spain at the time. I found that though many of us know the general concept of siestas, we do not truly understand the cultural background of them, and how they are now effecting the way global business is conducted. This research paper was an excellent avenue for me to gain a better understanding of the country I was living in, while combining and utilizing my past education. Jenna Sargent My international exchange experience provided many unique opportunities to engage with different cultures and put my international studies to use. One of my greatest takeaways from living and studying in Austria and travelling to other countries was learning how to communicate with and adapt to different cultures on a regular basis. While on exchange I got the opportunity to research the effects of conscription on educational and career advancement among youth; a topic that was very relevant in my exchange country of Austria, being one of the last European countries with conscription.