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Globalization in business
Globalization in business
Management issues in a multinational company
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International management refers to the pursuit of organizational objectives in more than one nation. International management has evolved as a discipline of increasing importance in recent years. The underlying reason is that the corporate community is becoming more and more diverse. Improvements in transportation and communications and lower production costs in many countries around the world have made global markets more accessible. Although United States-based firms have immediate access to huge domestic markets, they have steadily increased the proportion of their foreign markets. It has been estimated that about 10 percent of all jobs in North America are dependent upon export and import trade.
Other indicators, including foreign investments, profits earned overseas, and fees and royalties paid to firms abroad, point to an increase in corporate internationaliza¬tion.
Next we will look at some of the challenges facing managers who work in an international environment.
CHALLENGES AND PROBLEMS FACING THE INTERNATIONAL MANAGER
A host of interacting and overlapping forces create problems for the manager in an international setting that are infrequently faced by the manager who works for a company doing business in only one country. The term infrequently is chosen because some countries are so large geographically that they contain radically different subcultures within their own boundaries.
We will summarize 11 factors that the international manager may have to m...
Hyde portrays Hyde as a hated, yet unshakable part of Dr. Jekyll. The doctor is known for being a kind, handsome, well-off man that is both friendly and smart; Hyde is the exact opposite. Hyde was the epitome of repulsive, anybody that looked at him immediately felt distaste and he was hated. Utterson said upon meeting Hyde that,
Dr. Jekyll is an English doctor who was prosperous, very handsome and a distinguished man who was well respected in the community. Dr. Jekyll is a man that appears moral and decent and enjoys doing charity work, however Dr. Jekyll seems to struggle with the good and evil within himself. Most of his life he tried to repress his evil urges in they did not fit a man of his stature. In trying to hide his hidden evil he creates a serum to hide or suppress his evil. In doing so he ultimately transforms in to Mr. Hyde. "O God!" I screamed, and "O God!" again and again; for there before my eyes-pale and shaken, and half fainting and groping before him wit his hands, like a man restored from death-there he stood Henry Jekyll!
Ancient Egypt had a “class” system. At the top was the pharaoh, or divine leader, and his family followed by the vizier, and then government officials, nobles, and priests. Below the priests soldiers, then scribes followed by merchants. After merchants were craftsmen and artists followed by fishermen and farmers, and at the bottom of all: the slaves, servants, and prisoners.
According to Kinicki, diversity represents the multitude of individual’s differences and similarities that exist among people. When developing a cultural diversity training program, one has to manage diversity with a new approach of inclusion and recognition. Managing diversity enables people to perform up to their maximum potential (Kinicki p. 111). As we analyze diversity, we will evaluate some common barriers and challenges in managing diversity. In developing a diversity program, we will analyze methods and procedures that will be apart of the program. Kinicki (p.*) says an important first step in overcoming these obstacles is for leaders to convey to their employees why the organization values diversity.
As Jekyll reached adult hood, he found himself living a dual life. He had become more curious in discovering his other side. Jekyll insists, “Man is not truly one, but truly two” (125). This eventually led Jekyll into the scientific interests of separating his good and evil side, and he finds a chemical concoction that transforms him into a more wicked man, Edward Hyde. At first, Hyde was of pure impulse, but in the end, he became dominate and took control over Jekyll. Jekyll had never intended to hurt anyone, but he was aware that something could potentially go wrong. Jekyll presumes, “I knew well that I risked death, for any drug that so potently shook the very fortress of identity… utterly blot that immaterial tabernacle which I looked to it to change” (127-129). One could say this makes Jekyll equally as menacing as Hyde. Jekyll couldn’t control the imbalance between the two natures. Jekyll foolishly allowed his evil side to flourish and become stronger. This is shown when Jekyll has awoken to find that he has turned into Hyde without taking the solution. Jekyll says, “But the hand in which I now saw, clearly enough in the yellow light of a mid- London morning…It was the hand of Edward Hyde” (139).
With the proliferation of the internet international Business transactions are more common today than ever. Globalization is now a key factor when creating a business strategy for most companies whether they are small family own businesses or huge corporations. Globalization however does not just involve selling a product in other countries. There are legal and cultural concerns that must be addressed. The legal aspects are fairly simple because in most places the laws are spelled out. It's the local customs, and regional way of doing things that can be tricky. Research on globalization has shown that it is not an omnipotent, unidirectional force leveling everything in its path. Because a global culture does not exist, any search for it would be futile. It is more fruitful to instead focus on particular aspects of life that are indeed affected by the globalizing process. (1). In this new economy, as it has been in the past, it will be the people not the machines who will determine a company's success. Having an effective Human Resource Management team that effectively analyze your company's current and future personnel needs is key in any business organization.
Diversity is a term used most often to describe the different types of race, religion, and nationalities but in today’s business world, it is used to describe the different individual behaviors of employees. Diversity is about characteristics and demographics that differ from person to person and how they affect human behavior. To understand how diversity affects the work place let us look at four types of diversity--Differences in skill and abilities, Values and attitudes, Occupation differences, and Age.
A major challenge of doing business internationally is to adapt effectively to different culture. Such adaptation requires an understanding of cultural diversity, perceptions, stereotypes, and values (Hodgett &Luthans, 2005). Doing business overseas has its challenges as well as it rewards.
The ancient Egyptians were people of many firsts. They were the first people of ancient times to believe in life after death. They were the first to build in stone and to fashion the arch in stone and brick. Even before the unification of the Two Lands, the Egyptians had developed a plow and a system of writing. They were accomplished sailors and shipbuilders. They learned to chart the cosmos in order to predict the Nile flood. Their physicians prescribed healing remedies and performed surgical operations. They sculpted in stone and decorated the walls of their tombs with naturalistic murals in vibrant colors. The legacy of ancient Egypt is written in stone across the face of the country from the pyramids of Upper Egypt to the rock tombs in the Valley of the Kings to the Old Kingdom temples of Luxor and Karnak to the Ptolemaic temples of Edfu and Dendera and to the Roma...
Svensson, G., 2001. 'Globalization' of Business Activities: A 'Global Strategy' Approach, Management Decision, 39(1), pp.6-18.
Oesterie, M. J., Richta, H. N., & Fisch, J. H. (2012). The influence of ownership structure on internationalization. International Business Review, 22(1), 187-201.
As a conclusion international business best described as a Globalization. A globalizing business sector advertises viability through rivalry and the division of the work it permits individuals and economies to keep tabs on what they specialize in. It also allows people to go globally. Globalization has stretched the assets, items, administrations and markets accessible to individuals. The increasing set of reliant connections around individuals from distinctive parts of a world that happens to be separated into countries
Bilingual Education is defined by the National Association for Bilingual Education as the utilization of two languages as mediums for instruction with the goal of language proficiency in one or both languages. The goal of bilingual programs is to achieve second language proficiency by using the student’s first language as the mechanism for instruction. May (2008) states that bilingual education programs can be categorized into either transitional or maintenance models. The focus of transitional bilingual education is to replace the student’s primary language with that of the target language. Maintenance, or dual language, models focus on the student learning both languages, often simultaneously. The most common two programs seen in schools around the United States are transitional models and dual language immersion
Daniels, J. D., Radebaugh, L. H., and Sullivan, D. P., (2011). International Business: Environments and Operations. Prentice Hall, Upper Saddle River, New Jersey.
Stonehouse, G., Campbell, D., Hamill, J. & Purdie, T. (2004). Global and Transnational Business (2nd ed.). Chichester: John Wiley & Sons.