Posted: June 23rd, 2022

Busines Comparative Issues In International Management

Question:

Disseminate about Busines Comparative Issues within International Management.

Answer:

International management is about ensuring that countries and businesses thrive.

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Many countries and businesses have developed better ways to increase revenue and lower costs to reach this goal (Ghemawat 2017).

New dimensions have been added to international management because of the necessity to be competitive and productive in global markets.

With globalization, international management has changed over the years.

The globalization process continues to include supraterritorality, modernization and liberalization as a means of connecting countries on different fronts (Li, et al. 2017, 2017).

It is important to remember that both countries and businesses strive to lower production costs while increasing profit margins.

There are many offshore business opportunities that can be attractive and lower in cost.

Offshoring comes with many risks, which management must manage in order to maximize the potential of such operations.

Multinational companies are increasingly looking for global managers that can operate across borders.

Global managers can ensure smooth entry to a country for a company, according to many.

Managers will find it challenging to work in a foreign culture.

A host country should be concerned about the laws and regulations that exist in foreign countries.

Evidence also shows that offshore operations increase management concerns.

These concerns can include quality control or security issues (Reeves, & Harnoss, 2017.

Many organizations outsource in order to lower costs for infrastructure, employee selection, training, and the hiring of new employees.

The development of a successful repatriation plan for multinational companies can be an important tool that can help maximize human resource management (Yeniyurt & Carnovale 2017).

The vital area of human resource management where repatriates can be used to spur economic growth and development is the critical area of repatriates.

Teams of managers are striving to achieve sustainable innovation.

Performance improvement and development synergy are key components of reorganization.

Quality is key to bringing together employees (Knight R. (2017).

Globalization comes with its own set of problems.

Although technology has advanced to the point of allowing for encrypted e mails and satellite videoconferencing, there are still many challenges in managing them (Yeniyurt & Carnovale 2017).

It is important to emphasize that cultural differences, which include shared assumptions and norms, values, beliefs, and basic beliefs, can have an impact on global management.

Culture shock can often be caused by cultural differences among expatriates.

International management requires the ability of thinking and acting locally as well globally (Knight R., 2017).

Global mindset is commonly believed to be a characteristic of a great global manager.

Global managers should be able understand complex geopolitical forces in order to manage international affairs.

The political environment of a nation is often cited as a key factor in the development of strategies and regulations.

Therefore, the political environment can have a significant impact on the performance and profitability of businesses and industries (Adler & Graham 2017).

Governance and politics also play an important role in the management and possible outcomes of firms.

China had banned foreign investment for more than 30 years.

China had, in essence, withdrawn itself from international trade and obligations being taken on by other nations (Li et. al. 2017, 2017).

After changes in regulations and government intervention, the country was able to allow foreign investment.

Gupta 2017, 2017.

At the moment, there are stricter regulations as well as rules that are designed to streamline business operations.

Tax reduction is one example of a friendly business environment in some countries.

International management changes can have an impact on decision-making. It is important that managers come up with ways to counter these policies (Dominguez, Mayrhofer 2017).

Numerous countries have also created rules and regulations that affect foreign firms, including domestication, confiscation, expropriation and confiscation.

Russia’s government threatened to confiscate assets of American and European companies.

Many countries have tried domesticating foreign investments to give priority to production and local resource development.

International management faces a major challenge in combating corruption (Adler & Graham 2017).

This vice can be found in different countries and has different effects on policies.

Local politicians can be bribed for favors in certain cases (Knight 2017).

Corruption is a contributor to corruption, inefficiency and weakening of development as well as loss of resources.

International management has been greatly affected by political instability.

There have been many civil wars, revolutions, or coups in many countries that have threatened businesses (Li and al., 2017).

References

Cross-cultural interaction: The International Comparison Fallacy

Language in International Business (pp.

Springer International Publishing.

Internationalization stages of traditional SMEs – Increasing, decreasing, and regaining commitment to foreign market.

International Business Review.

We don’t require political solutions to global trade; we need practical ones. hbr.org. Harvard Business Review.

Do emerging economy MNEs benefit from higher productivity due to FDI outward?

Evidence from Chinese manufacturing firms.

International Business Review.

Globalization Is Possible Even in a Digital World.

Harvard Business Review.

Blockchain is the Promise of a World without Middlemen

Harvard Business Review.

An Agenda for Global Business’ Future.

Harvard Business Review.

Global supply network embeddness and power: A study of international joint venture formations.

International Business Review, 26(2): 203-213.

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