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Cross Culture Management Implications for International Expansion

   

Added on  2021-02-19

16 Pages4729 Words140 Views
CROSS CULTUREMANAGEMENTIMPLICATIONS FORINTERNATIONALEXPANSION

EXECUTIVE SUMMARY From this report it is found that XY Beauty should use Ethnocentric analytical tool in expandingtheir business in Finland, it will benefit their company as the parent company already has theknowledge about the culture and beliefs of their company so it will easy for them to implementthe strategies in the subsidiary company. And it will help in the success of XY Beauty.

Table of ContentsINTRODUCTION...........................................................................................................................1COMPANY BACKGROUND........................................................................................................1TOOL FOR NATIONAL ANALYSIS ...........................................................................................4ETHNOCENTRIC ANALYTICAL TOOL:- .................................................................................4POLY-CENTRIC ANALYTICAL TOOL :- .................................................................................6HOFSTEDE MODEL (COUNTRY COMPARISON)...............................................................8RECOMMENDATION...................................................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONCross-cultural Management is a study which helps the organizations to deal cross-culturalaspects. It helps the businesses to handle people that comes from different cultural background. Itis a need that has appeared due to diversity at workplace. Cross-cultural management includesteam management in the manner that consider differences in culture, preferences of customer'sand practices in global and international businesses. It refers to organizations efforts to enhancethe ability of their employee's to interact efficiently with colleagues that are from differentcultures and nationalities(Adekola and Sergi, 2016). It includes hiring candidates that will beeffective for the firms in cross-cultural environment, training the employees to deal withintercultural issues like communication. The report aims to analyze the cultural factors that will affect the parent company XYBeauty when they would be expanding their business in Finland. The report will highlight issuesthe company might face while expanding the business. The structure of the report is followed bycompany background and the analytical tools that will be used by the company to show theimplications and describe about how the tool will be beneficial for expansion and what are theissues that the company might face and recommendations will be given how the effect can beminimized. COMPANY BACKGROUNDIn this fast growing Globalization beauty companies are racing to achieve more and morecompetitive advantage globally and gain new customers worldwide. This stage will reach byexpansion of the business in various countries which will increase the productivity along with theprofits. XY Beauty Company is a beauty and cosmetic company which was founded in 1951 andhas India as its parent country. It mainly deals manufacturing and production of high qualityfragrance, skincare, beauty and cosmetic and hair-care products. Its products and services are themirror to the company's dedication towards serving the needs of its diversified customers of allage group and of both men and women.XY Beauty Company is a multinational brand with its headquarters in India. It is a PublicCompany, which started its production with one product at its initial stage which was a new typeof nail paint for which two partners clubbed their resources. For developing a new process ofproduction and manufacturing they pooled their time, skills and money and now it is havingaround 25,500 employees currently working(Barak, 2016). 1

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