Parent country Hyundai South Korea and Host country Hyundai India (3000words with 10% tolerance)

No. of words 3000 with 10% toleranceEssay to contain 5 sections:1.Executive summary2.Introduction3.Answer to the 4 questions (refer below)4.Conclusions5.References (Include harvardstyle referencing, must have more than 10 references)In the case you are working on, South Korea Hyundai is the PCN and HCN country is India Hyundai.Question 3 should include these 4 questions, There is a brief guide on what to write under examples: Do take note on these examples as they  serve as a guide. Do not copy as they are faked scenarios.1. What are the contextual factors (cultural environment, institutional environment) of country selected? What are the firm-specific factors (strategy and structure, corporate culture, physical firm size, maturity stage of Hyundai Motor India) of the MNE Hyundai. Start with a brief Introduction something along the line…… Background of PCN (Hyundai South Korea) and HCN (Hyundai India) – eg. ABC China is an international organization and has yet to transform into a multinational corporation due to small country size, thus possessing low global efficiency and local responsiveness. ABC China and ABC India are taken as our parent country and host country respectively. They adopt a pluralist HR perspective as they recognize the presence of different views and goals in ABC company. This report aims to examine what ABC can build on to develop a workable international HRM model.a)Contextual factorsCultural dimensions – PLEASE use the Hofstede diagram Explain:- Compare and contrast briefly on the culture dimensions,  zoom into 2 or 3 main differences(Collectivism vs. Individualism, Masculinity vs. Feminist, Uncertainty avoidance) . ***Put it in a column and row table format.***b)Institutional environmentIndustrial relations – Talk about the Unitary (Hyundai South Korea) and Pluralist (Hyundai India) Perspective.Explain:-How this environment drives the company’s HRM policies-How does it affect HRM practices in South Korea and India ??-Talk about the India regulatory environment and country of origin effectc)Firm-specific factors (Compare and contrast both countries)Explain:- Strategy and structure eg. global, transnational, international, multi-domestic.- How are they organized eg: by territory, product group, etc. -Firm size of South korea Hyundai and India Hyundai-Market analysis strategy2. Compare and contrast the Human Resource strategies and processes (Recruitment and Selection, Training and Development) adopted in the headquarters (Hyundai Korea) and the local subsidiary (Hyundai india).Recruitment and Selection -Explain:- Describe how PCN (Hyundai South Korea HQ) and HCN (Hyundai India), conduct their internal and external approaches/methods etc. – Talk about South Korea (ethnocentric approach) and India (polycentric approach).Talk about where to recruit people from Bangalow India? Find other place in India other than New Delhi as they cannot possibly hire all their workers from New Delhi (as there is alot other small cities in India) How to recruit those from lower class system? (e.g social dumping?? Caste system??) Criteria of selectionTraining and Development -Explain:- Hyundai Motor Group university, (please do further research) adopted in the headquarters and the local subsidiary.Example:South Korea Hyundai uses an ethnocentric IHRM staffing as South Korea Hyundai headquarter key positions are held by Korea management (PCN). Strategic decisions are made there to ensure effective communication and coordination. PCNs are familiar with the HQ goals, objectives, policies and practices. However, it is difficult to adapt to Hyundai India macro-environmental factors and host country nationals (HCN) promotion opportunities are limited.Example:India (HCN) workforce mainly consists of HCNs so that it can gain acceptance from the citizens into India, which is aligned with its “think global, act local” theme. Using HCNs allows lower hiring cost and unnecessity of work permit. However it restricts PCN oppotunities to accumulate foreign experience. India Hyundai utlilises polycentric IHRM staffing as HCNs manager are seldom promoted to HQ positions. 3. Based on Qn1 & 2, to what extend does Hyundai standardize or localize the HRM practices (eg. recruitment and selection, training and development) in the local subsidary?Please ensure in the report to explain and justify why :- Training and development standardize- Recruitment localize- Selection standardize 4. What are the recommendations from this comparison could enable Hyundai to develop a workable international model of HRM for specific national country settings?***Recommendation is based on standardized and localized question 4 is quite open-ended. students can discuss how Hyundai can improve the way they operating overseas. based on their analysis from Q3, what kind of approach should they adopt to achieve better performance (e.g standardization of HRM / Localization of HRM/ Integration of both?) and why? they may also ned to discuss the approach they proposed, is it workable for all context? or only workable for certain regions (e.g. Asia context)Conclusions