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Globalisation of Business Assignment

   

Added on  2020-07-22

10 Pages2946 Words70 Views
Human Resource

Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONIn today’s global economy, having a workforce is fluent in different ways are isn’tluxury. No wonder nearly 70% of midsize and large companies are currently sending theirprofessionals projects in abroad and approximately 40% are planning to increasing the number ofassignment over there. International assignment is not cheap for domestic companies to operatetheir business from other countries also (Ananthram and Chan, 2013). On an average, expatriatecost are more than two to three times are considered as equivalent in domestic country. Inpresent report, factors which are considered in order to attain the success of internationalexpatriate projects is explained. Further, some examples are also explained of specific region inwhich they can improve expatriate project to attain achievement. TASKThe expansion of globalisation of business have also impact on internalisation ofcompanies. An increasing number of Lithuanian and international companies are expanding theirbusiness not only on national level, but also at world-wide scale. These process cannot beseparated from new challenges which are in management and which includes importance ofinternational human resource management. Expanding of activities outside the national bordersare becoming challenges for companies to invoke changes related to expatriation, i.e. appointnew employees in foreign subsidiary for doing a particular work for a particular period of time.In this manager of companies have to appoint most competent employees who are having allknowledge and skills; they also should be open-minded and act efficiently so that they can adjustin new environment quickly (Fee and Gray, 2011). But when international projects arecompleted, workers are repatriate to their home country and continue with their own workaccording to their core competencies. There are many international companies who are openingtheir new business projects in other countries to expand their business. But it is extremelyexpensive for organisation up to three time of cost of person annual salary. For this they haveconsidered some of the factors also which can affect to their business operations activities atinternational level. Factors for expatriate projects success are numerous. So concept of success and failureare not always clearly defined. The failure of these projects are defined as individual who eitherquit or come back to their home country prior completion of assignment. For example, projects1

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