There is no exact definition of a developed economy, but rather a sliding scale. The G8 countries (see Resources for a list) are widely regarded as having the major economies in the world and are responsible for a majority of the world’s economic output. For this assignment you will select a country from the G8 countries, other than the United States, and compare it to another country in the world. Choose an early development stage country or a developing country for the comparison. Compare the essential social, economic, and environmental indicators as presented in the CIA World Fact book country reports, The Economist country briefings, or other resources you find throughout Unit 1.
Next, create a simple table that compares the relevant factors that may affect the development of HR strategies in developing and developed countries. Include demographics of a population related to age and education. Additionally, natural resources, health, existing industries, and other social, environmental, and economic factors may be relevant. Select two of these additional factors. You will have four factors. After creating your table, focus on the gaps between the two countries you chose. In your one- to two-page analysis, address the following questions:
- How large are the gaps?
- How might these gaps influence HR strategies in these regions? For example: What does an education gap mean in planning a strategy for a workforce in a developing country?
- In your analysis, weigh the advantages and disadvantages of these factors when taken as a whole. Together, what is the effect?
- Refer to the Social and Economic Dynamics Influencing HR Strategy Scoring Guide to ensure you have met all of the requirements of the assignment. Also, be sure that you have cited all of your sources according to APA formatting guidelines. Submit your work in the assignment area.