International Management: Approach To International Business Management

You may ask yourself what is international management? Well, international management is the practice of managing business operations in at least two or more countries. Professionals are familiar with the language culture, economic, and political environment, and business practices of countries in which multinational firms actively trade and invest. They also have the conceptual and analytical skills that are needed to formulate effective management strategies and policies to benefit all the firm’s constituents in today’s globally competitive environment. Many everyday citizens may wonder why anyone would ever want to learn about international management. Many business professionals are steadily increasing servicing the needs of customers

Those approaches are ethnocentric approach, polycentric management approach, and a geocentric approach. Ethnocentric approach refers to a conviction that one’s own cultural group is superior to others. When you compare it to international commerce it describes a tendency to use the same management style as is practiced in the business;s home country. Polycentric management features on a focus on building a workforce of locals based on the belief that locals best know the region’s culture, language and work style. Geocentric is when business challenges are viewed as universal no matter where in the world business is being conducted. The most highly qualified individuals, regardless of country of origin, are placed in management positions, where they apply common sense and business knowledge to solve problems without regard to cultural

The definition of barrier that suits the context used in international business is a circumstance or obstacle that keeps people or thing apart of prevents a communication or progress. There are seven barriers that are key contributors to successful international business. Having a good negotiating environment is a big key. Despite apparent similarities and a shrinking globe some degree of culture shock is an inevitable part of doing business in a new country. Everything from new food differences to language, to conflicting business styles can make negotiations more difficult. Travel is of course an issue during the very necessary face to face