Identify and select one regional economic grouping (such as the EU) and research scholarly articles as well as other sources about the current state of the group and their effectiveness. Be sure to keep an open mind in making your selection because there are many economic groups around the world beyond the obvious picks (many are listed above in this week’s introduction).
Exploring one you are not as familiar with could prove more interesting. Assume you have been asked to prepare a briefing for your firm’s (real or imagined) senior leadership before a strategic meeting. Be sure to include the following in your briefing:
Illustrate the current level of integration of the group (typical terms associated with different levels of integration include the Economic Union, Common Market, Customs Union, and Free Trade Association).
Determine how effective integration has been for member states and business organizations within those member states involved. Provide examples to support your findings.
Explain how the subject regional economic group influences the international strategies of business organizations based in countries that are not a member of that group. For example, how are U.S. firms impacted if they want to pursue business within the European Union?