International-Business-Dr-R-Chandran-E-book

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The top HR challenges include The cultural nature of global human resource management cultural differences The concept of "fit" in global human resource management Multinational Corporation (MNC) - HRM Philosophy Global Corporation (GC) - HRM Philosophy The real challenge 264 International Business- Dr. R. Chandran execs.) 1. Finding suitable candidates 2. Intercultural understanding 3. Career management 4. Employee retention 5. Adjusting to environment 6. Partner dissatisfaction 7. Relocation reluctance 1. Individualism versus collectivism 2. Power distance 3. Uncertainty avoidance 4. Masculinity versus femininity 1. Fit (congruence among HR policies, firm’s plan & values of foreign culture) 2. Internal fit (HR policies that allow for smooth work flow: HQ & local) 3. External fit (HR to consider the local cultural/socioeconomic environment) 1. Early stages of internationalization strategy 2. Ethnocentric orientation - PCN hires 3. Adapting products and services to local markets 1. National boundaries disappear 2. Geocentric orientation – TCN hires 3. The world is the market for its products & services 1. Finding competent expatriate managers 2. To capitalize on the diversity of a global workforce without suppressing each nation’s desire to maintain its cultural identity Only for Private Circulation
Three sources of employees for international assignments include Selecting the expatriate manager Stages of reaction to foreign experience Effective measures to deal with culture shock Training the expatriate manager Compensating the expatriate manager 265 International Business- Dr. R. Chandran 1. Host Country Nationals (HCNs) 2. Parent Country Nationals (PCNs) 3. Third Country Nationals (TCNs) 1. Complex & sensitive task 2. Technical competence 3. Self image: self-confidence, self-esteem, stress coping 4. Interaction skills: interpersonal style, sensitivity to nonverbal communication perceptual orientation: open-mindedness, tolerate uncertainty accept cultural differences 1. Fascination 2. Culture shock 3. Adaptation 1. Select managers who desire/want foreign assignments (where possible) 2. Language fluency 3. Preparation for cultural differences 1. Provide intercultural training – improves chances for success 2. How much & type of training depends on level of contact with host culture 3. Degree of dissimilarity between home & host cultures 4. Training to differ/vary at different phases of expatriate’s assignment (ex. pre-departure, overseas assignment, repatriation) 1. Expensive proposition 2. Pay expatriate premium, COLAs, allowances 3. Financial (education, home leave) 4. Social adjustment (language, cross cultural training, locate home) 5. Family support (child care, trailing Only for Private Circulation
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COMPANY COUNTRY OF ORIGIN REFORM PR
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4. Diplomatic relations 9 Internati
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10. Legal aspects 11. Investment an
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LICENSOR LICENSEE PROVIDE THE RIGHT
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Supply International Business- Dr.
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10. MERGERS AND ACQISITIONS 25 Inte
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12. TURNKEY PROJECTS 27 Internation
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13. COUNTER TRADE 29 International
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a) Home country Economy 35 Internat
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SOCIAL ENVIRONMENT 39 International
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1. POLITICAL RISKS 2. ECONOMIC RISK
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FDI Policy Initiatives 61 Internati
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Bahrain international Business Cent
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(ACUs). These are operational units
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6. Essentials of Trade Finance 81 I
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RATES TT Selling Rate Exchange Marg
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) Constant motivation of subsidiari
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2. Organizations with an Internatio
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3.3 Organization according to Geogr
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Joint Venture with an Indian Partne
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Stage:6 “Global mindset, customer
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The Decision Making Process 155 Int
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Environmental Issues 159 Internatio
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AGREEMENTS OBJECTIVE OF AGREEMENT b
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AGREEMENTS OBJECTIVE OF AGREEMENT 1
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AGREEMENTS OBJECTIVE OF AGREEMENT f
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Tariff Barriers 191 International B
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D) On the basis of trade relations
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Types of non-tariff barriers 195 In
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World Bank 199 International Busine
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• Macroeconomic & Economic Growth
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• Local Currency Financing • Mu
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INTERNATIONAL MONETARY FUND 205 Int
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ASIAN DEVELOPMENT BANK 207 Internat
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