Term project is designed to help students learn to develop a global business plan and integrate various IB functions (e.g., cultural, economic, competitive, technical environment and marketing, finance, human resources, accounting) into the plan.IB 150 Term Paper Guidelines1. Pick a product (goods and services) and a country : United Arab Emirates, Virgin Atlantic Airways2. Discuss culture (values, religion, Hofstede cultural dimensions, etc) and economic situation of the country or the area of your selection.3. Develop a marketing strategy. Make sure you cover all three components of the marketing strategy-target market, 4 Ps, business environment (competition, technology)4. Write about human resources plan: Who will work and how to recruit? How to train? How to evaluate and compensate?5. Write about how to finance the business? Where would the money come from and how much is needed (breakdown desirable, but only estimates). You can make up numbers.6. Write about 8- 10 pages in volume-double-spaced with proper subheadings for better organizing your paper.8. If you choose to write about an existing product, enrich your final section of your paper (conclusion/opinion) with your educated critiquing (your educated evaluation of the marketing strategy of the company for the product). Since you simply describe what they do, you must demonstrate that you learned something in class and you can provide educated analysis of the strategy by incorporating, for example, the things you learned in class (e.g., push strategy, PLC, polycentric).9. If you write about a new product and new strategy (or an existing product and your creative idea), you do not have to critique anything since you created the strategy.10. Incorporate what you learned in class and in the textbook into your writing. Demonstrate that your learned something from the materials by relating some terms (e.g., pull strategy, polycentric approach) and theories to your sections.11. Provide references (no minimum number requirement for the references) and give proper respect to the source of information.