(Solved) Global Business Environment - Essay
Added on 2021-06-14
13 Pages3550 Words65 Views
Leadership ManagementProfessional DevelopmentLanguages and Culture
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Running head: GLOBAL BUSINESS ENVIRONMENTGlobal business environmentName of the Student:Name of the University:Author’s note:
Introduction Nowadays it has become a trend for the companies mainly the MNCs to send expatriatesin the foreign countries. According to Hamilton and Webster (2015) the main motive of thecompanies is to gain a thorough knowledge about the international market so that the expatriatescan reach the short term goals as well as the long terms goals of the organizations. Based onmanagement skills as well as the technical competencies of the expatriates the multinationalcompany makes an entry in to the overseas market. This essay focuses on different ways bywhich multinational organizations uses expatriates to deal global business operations. It alsofocuses on the major challenges that are usually faced by expatriates while staying abroad. Thisstudy sheds light on the various ways by which companies can motivate its expatriates foreffectively handling business operations.DiscussionIt is seen that expatriates play a vital role in expanding business in the global market.This is why different companies including multinationals hires expatriates and send them abroadfor fulfilling the long-term goals and short-term objectives of the multinationals. Through thehelp of expatriates these multinationals make an entry into the international market. It is seen thatthe experience of the expatriates enables these business firms to gain an insight on theinternational market that helps them to grow globally. This is the main reason why themultinationals take help from the expatriates to capture the international market (Hamilton andWebster, 2015). In this context, it can be stated that it is very important for the companies tomanage its expatriates in an effective manner otherwise it is not possible for them to capture a
larger market share in the international market. In accordance with the opinion of (Peng, 2016),there are five ways by which the expatriates can be managed effectively. These ways arerecruiting or selecting, training and appraising the expatriates. In addition to this, rewarding aswell as developing are the other ways by which an expatriate can be effectively managed.However, modern researchers have identified four techniques which are generally used formanaging the valuable expatriates of the companies including multinational businessorganizations. These four ways are selection, training, adjustment and repatriation (Gaspar et al.2016). However, in this particular study we will discuss about recruitment and selection, trainingand development, integration. adjustment and repatriation.It has been observed that in some cases, global assignments arise due to an issue in thesubsidiary. As a result, the business organizations need some highly qualified skilledprofessionals who are capable enough to fix this issue. It has been observed that when businessorganizations send individuals for handling international assignments, they expect that theindividuals will solve the issue. In other words, when business organizations send someexpatriates t to manage global operations, they expect to obtain high returns of investment. Inaccordance with the opinion of Botha, Kourie and Snyman (2014), there are several factors basedon which a person is selected as an expatriate by the respective company such leadership skills,and problem-solving abilities. There are other factors based on which an expatriate gets selected by the company. Thesefactors are flexibility, stability, technical know-how, language etc. (Luthans and Doh, 2018).After the business organization has undertaken their decision regarding selection criteria, it isrequired for the management of the companies those criteria. It has been noticed that there arecertain selection methods by which an expatriate can be selected by the multinational companies.
These methods are biographical as well as background data, interviews along with work samples.It has been noticed that individuals who shows their willingness to go at the foreign nations fordealing global business operations often gets hired by companies as an expatriates. People withgood interpersonal skills are selected as expatriates by the multinational companies. It has beenobserved that selection of expatriates is the ad-hoc procedure. It has been observed that selectionprocedure can be initiated by beginning the casual interaction among the executives regardingthe executive. This chatting among the executives takes place around coffee machine. In most ofthe cases, it is seen that line manager undertakes the final decision to select the expatriate. It isvery important for the top executives of the multinational companies to consider the managerialskills as well as their previous work experience when they have to recruit and select expatriates.Besides, Cascio (2018) commented that technical competency should be considered by the top-level executives when they have to hire as well as select the expatriates who will be sent abroadfor handling international operations.It is seen that complexity of international assignments is much more than that of domesticassignments because expatriates have to go to another country and they have to work harderachieving success in global business operations (Adekola and Sergi, 2016). In this regard, it canbe stated that training aids the expatriates to succeed in international assignments. It has beennoticed that adequate training should be given to employees so that company can easily enterinto the foreign market and can initiate business in the foreign markets (Chand and Tung, 2014). In accordance with the opinion of Lewis et al. (2017), it is very important for theexecutives and other authorities of business organizations including multinational companies toprovide cross-cultural training to its skilled professionals so that they can excel as expatriates.From the perspective of Harzing, Pudelko and Sebastian Reiche (2016), cross-cultural training is
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