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International Management Practices | Assignment

   

Added on  2019-11-20

14 Pages4431 Words201 Views
Managing Across Borders

Executive SummaryInternational management practices depict changes in global business strategies to reveal a fusion of national culture, cross border practices and international management practices. Researchers continue to delve into this topic because of the emerging trends sparked by the high competition in the international business environment. The struggle for market share explains thestrategies adopted by multinational corporations and countries in international operations. The international system has opportunities and challenges. Organizations adopt similar plans that ensure their survival in this system. However, there are certain differences in the regions, which organizations cannot ignore. The classification of the globe into national, regional and international perspectives unveils these differences. Culture emerges as a crucial factor in this interaction across different borders. People influence the success and failure of organizations in these markets. Therefore, consumer lifestyle, values and practices are important factors for strategic management across border. This report highlights some of the factors used in the cross border business with culture at the center of the analysis.

Table of Contents1.0 Introduction...........................................................................................................................................42.0 Understanding the Global Market..........................................................................................................42.1 Economic Models of Reason.............................................................................................................52.2 Porters Diamond model.....................................................................................................................52.3 Hofstede’s Model..............................................................................................................................62.4 The Lewis Model of National Advantage..........................................................................................72.5 Trompenaars......................................................................................................................................73.0 Cross national similarities and differences in management practice......................................................83.1 Scope of activities on the international management.........................................................................83.2 Management and leadership in the global environment.....................................................................93.3 Cultures and complexity in international management....................................................................103.4 legal aspects of managing across borders........................................................................................104.0 Conclusion...........................................................................................................................................11Bibliography..............................................................................................................................................13

1.0 Introduction The national culture affects management behavior in global business because of its differences inideologies, culture and consumer values. Global thinking seeks to explain individual factors by breaking down business actions by international players. The best way to understand why organizations undertake certain steps is to dissect the reasoning behind it. The business strategiesused by multinational corporations explains the pros and cons of the international environment. The Porters diamond model brings out the competitive nature of global organizations by showinghow corporations manage to succeed. On the other hand, Hofstede and Lewis diversifies the regions using the cultural dimensions[ CITATION Iti17 \l 1033 ]. Managers in the global business environment try to capture the global markets by connecting with the new stakeholders. Arthur Lewis uses an approach that describes the difference between an industrial state and a subsistence one. This gives a wide array of factors emanating from the growth of national economies from traditional to industrial states. These economic and cultural approaches to cross border business management analyze highlight strategies used by nations in the markets. It also shows similarities and differences that compare and contrast management across cultures. The analysis of legal matters brings out the role of the national government in determining the policy framework within which organizations operate (Scherer & Palazzo, 2011: Welter & Smallbone, 2011). 2.0 Understanding the Global MarketCross-cultural strategies acknowledge that the world continues to become one under globalization yet there are differences in cultural practices, values and identities. One of the common factors is technology, which is common across nations. E-commerce is one of the factors influencing the growth of the international market. Nations interact on a business platform and people can exchange ideas easily via the internet. World languages like English continue to rule the international communication scene although there are local translations. Despite these, communication cues such as nonverbal communication exhibit difference. Multinational organizations use localization as a strategy to gain acceptance in the national and regional markets[CITATION Cul13 \p 63 \l 1033 ]. There are economic and cultural oriented theories,which provide insight into the cross border practices.

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