Management of Human Resources

Running head: HUMAN RESOURCE MANAGEMENT
Management of Human Resources
Name of the Student:
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1HUMAN RESOURCE MANAGEMENT
Table of Contents
Introduction......................................................................................................................................2
Cultural differences between Australia and Japan...........................................................................3
Australia.......................................................................................................................................3
Japan............................................................................................................................................5
Challenges faced by the National Australia Bank with respect to the cultural differences.............7
International human resource management.....................................................................................8
Global citizenship..........................................................................................................................10
Human resource strategies.............................................................................................................11
Standardization of the HRM policies............................................................................................12
Conclusion.....................................................................................................................................13
Reference.......................................................................................................................................14

2HUMAN RESOURCE MANAGEMENT
Introduction
Multinational companies are the companies that have its operations in multiple countries
at the same time. It can be described in other words that a company has it business activities in
several countries. The international market in today's world is experiencing globalization and the
open market system has led to the emergence of competition and newer. With the ease of
establishment and formation, there come the complexities of accounting due to the foreign
exchange rates. Several countries have their own form of currency that fluctuates depending on
the political climate and marketing system existing in a country. The multinational companies
keep this issues in mind while framing the business policies in other countries (Birkinshaw
2016). National Australia Bank is one such multinational company which has its branches in
several other countries. National Australia Bank is a major financial institution in Australia in
terms of customers, earning and capitalisation. The bank was ranked 41st among the other banks
in the world and in terms of market capitalisation, the bank is ranked as 21st. In the year 1982, the
National Australia Bank was formed and at that time the bank was named as national
Commercial Banking Corporation of Australia Limited. National Australia Bank was formed due
to the merge of Commercial Banking Company of Sydney and National Bank of Australasia.
Thus after the successful merger led to the formation of National Australia Bank Limited
(Nab.com.au 2018a). This study is based on the comparison of the National Australia Bank and
its subsidiary in Japan. The study also focuses on the cultural differences between the Australia
and Japan and that challenges on the choice of the of the management policy with respect to the
Tokyo office; The main design of the institution that has led to the career development of the
employees that are working in Japan and Australia.

3HUMAN RESOURCE MANAGEMENT
Cultural differences between Australia and Japan
The main parameters upon which the comparison will be based are power distance,
individualism, masculinity, uncertainty disturbance, long-term orientation and indulgence.
Figure 1: the Cultural difference between Japan and Australia [source: Hofstede Insights 2018a]
Australia
Power distance- this defines the extent up to which the powerful members of the
organizations and societies within a country accept and expect that power is not distributed
equally. This means that the inequality in a society is endorsed both by its leader and the
followers. In comparison to Japan, Australia scored low (36) on this dimension. Within the
Australian organizations, for the purpose of convenience, the superiors are found to be accessible
all the time and the managers at the same time depend heavily on the teams and individual
employees for their expertise. The employees and the managers expect that they must be
consulted and the sharing of information should be done on a regular basis. The communication
is participative, direct and informal (Hofstede Insights 2018b).