Multinational Corporations ( Mnc )

In today's business world, corporations have become more complex and more unpredictable, in fact it is considered almost "healthy" that a corporation experience change and transformation. Companies need to be susceptible and ready to acknowledge the challenges that change presents with and try to overcome these for the benefit of the company as a whole. Due to the ever-changing business and social environments caused strongly by globalizations, this has meant that companies must keep themselves up-to-date, whether it is through using the latest form of technology or through the latest management fad. There are many factors involved with change and the successful management of it which can often be a difficult time for

In today’s competitive and fast-paced business environment, change is the only constant and it happens quickly. Change can be strategic, structural or cultural but it is always essential. It is inevitable; it is a way of life and can be as simple as a process change or as complex as a major corporation change due to internal and external pressures. Because of this, the concept of change management was developed as a structured approach for ensuring that change is implemented successfully to move an organization from its present state to the future state. Change is vital and it requires the right combination of the 3 S’s: strategy, structure, and support. The purpose of this paper is to address an organizational change initiative for the AT & T Corporation formally known Workforce 2020. This paper will discuss and analyze a holistic conceptual framework for change by identifying, communicating, organizing, measuring, aligning and tracking this strategic change through the eyes of the leader and the follower. In addition to this, the successes and failures will also be discussed along with organizational change concepts and theories and finally an evaluation of how this change impacted the organization and a discussion on the sustainability of this effort.

Why MNCs are important for the world and what are the conflicts that MNCs can solve?

Since the mid-1980s, the changing global competitive environment have forced more and more multinational corporations (MNCs) to development worldwide learning as their competitive viability, which requires to create worldwide innovative processes and knowledge transfer (Bartlett and Ghoshal, 1989). Knowledge from a subsidiary could be transferred to both parent company and peer subsidiaries, helping MNCs realize worldwide learning (Miao, Choe and Song, 2011). Knowledge flow from a subsidiary to parent firm could be considered as a critical condition to facilitate “local-for-center” innovation processes (Bartlett and Ghoshal, 1989, cited by Miao, Choe and Song, 2011). Traditionally, MNEs develop innovative capabilities by two classic processes, including “center-for-global” and “local for local” innovation model. Specifically, utilize the centralized resources and capabilities of parent company to create new products and operations and then implement these to subsidiaries, which could be defined as the central innovation process. By contrast, in the local innovation process, based on the local customers’ needs and market environment, subsidiaries development new products by their own resources and capabilities (Bartlett and Beamish, 2014). Based on different strategic roles and organizational specifics, the knowledge transfer includes two types, which are vertical and horizontal way. Horizontal knowledge flows in the multinational enterprise are generally adopted

Change in a business is inevitable and typically only the strongest thrive. With a fluctuating economy and constant technological advancements, organizations are expected to adapt in order to survive. When a business is posed with an issue or change, it must develop new business and strategy structures and implements those developments throughout the entire company. Communication, education and participation are all required for a change model to be successful. Though change and adaptation may be needed to better the company, with implementation of change comes resistance. Most companies face resistance on an organizational and individual level during a transition. However, it is how the company is able to overcome

Canon Inc. is a Japanese multinational corporation that specializes in the manufacture of imaging and optical products, including cameras, photocopiers, steppers and computer printers. Its headquarters are located in Ōta, Tokyo, Japan.[2]

Located there because of their talented workforce, access to key amenities, (including rail lines and utilities), the commitment of state and local leaders, as well as the connection between the community and the company’s principles.

Recent advances in information technology, deregulation, and market liberalization worldwide have resulted in the growth of Multinational Corporations. Multinational Corporations or MNCs are growing both in scale and complexity. Today, a MNC can be present in multiple countries, dealing in multiple markets with different currencies, speaking different languages, and adopting to different cultures as they spread their wings across the world. But with growth, they also have to deal with different legislations, and regulations. They have complex ownership structure with complex supply chains and extra and intra-business transactions. These organizations who employ 1000s of people, deals with billions of customers every day that results in millions of transactions taking place continuously across group businesses, time zones, regional, and national boundaries. These MNCs are constants growing and are evolving in different ways in different countries that results in thousands of pages of financial information generated each day around the world. This puts constant pressure on MNCs accounting departments to keep pace with the constant change in operations and regulations to achieve strength in depth, and be consistent in the hundreds of locations around the world (PWC, 2012). MNCs, and their stakeholders expect consistent quality of audits from each of their location spread across the globe. MNCs headquarters, the board and their committees expect their group

Change, in general, indicates any act of making something different. The factors that necessitate change in organizations are broadly categorized into people, technology, information processing and communication, and competition. Some changes in the organization occur suddenly without the conscious efforts of the people. These are called unplanned changes. On the other hand, some changes are initiated by the management to accomplish certain goals and objectives. These are called planned changes. More often, change is met with resistance.

With constant international integration and rising need for innovation, the businesses are constantly evolving. Social media and mobile adaptability have brought about a revolution and the result of this is an ever increasing need for change and the ability to manage it. The expanding businesses are experiencing an immense amount of change because of which adapting to organizational change has become an essential ability required at the workplace today. The old culture, comfort, structures and systems become very difficult to change even as the environment at the organization changes rapidly. It is important to manage this “people side” of change and the organizations that adapt the quickest create a competitive advantage for themselves, while the companies that don’t keep up get left behind. This results in major losses and organizational incompetence.

With the expansion of globalization which led multinational companies to transfer their production activities to the most stable developing countries; maintaining and improving the brand image, has become one of the major concerns for MNCs (Kapferer, 2008). The social, cultural and political diversity of host countries (subsidiaries) caused a very different degree of brand standardization among countries. Some of the advantages that economists in developing countries are expecting from MNCs to bring to their countries are as follows:

Week 3, the lecture on Managing Change describes organizational changes that occur when a company makes a shift from its current state to some preferred future state. Managing organizational change is the process of planning and implementing change in organizations in such a way as to decrease employee resistance and cost to the organization while concurrently expanding the effectiveness of the change effort. Today's business environment requires companies to undergo changes almost constantly if they are to remain competitive. Students of organizational change identify areas of change in order to analyze them. A manager trying to implement a change, no matter how small, should expect to encounter some resistance from within the organization.

Globalization is the establishment of economic, political, social, military, scientific or environmental interdependence that span worldwide distances (Steiner). This process has evolved for hundreds of years. However, this trend has rapidly increased over the last century, primarily due the forces of an ever changing society, government, and business environment. Corporations are expanding their business operations all over the world and are evolving into multinational corporations. Companies choose to invest capital for starting, acquiring, or expanding their enterprise to another country predominately for a few factors. Investing capital in a foreign nation can lead to growth. By entering a new market, a new segment of consumers can be reached, leading to new potential customers (Steiner). In addition, corporations can seek efficiencies in a foreign nation. With different resources located all around the world, as well as, generally less strict regulations on business in developing countries, multinational corporations can take advantage of cheaper labor, economies of scale, and other resourcing efficiencies to reduce their overall costs (Steiner).

Change plays a vital role in the world of business. It is also an aspect that cannot be stopped, it can only be managed or led, no matter how much businesses try - change is inevitable. Therefore, it is the job of the company to be able to quickly adapt when change hits. There are many aspects which can contribute to the need for change, both internal and external. Change management can be regarded as managers applying their ‘existing knowledge base in a systematic manner to problems requiring technical solutions, with minimal inputs from other quarters … in a static and isolated environment’ (Paton and McCalaman, 2000, p.21). However, businesses do not have to fear change, it can, when managed correctly, bring an overall improvement on

Change is the only thing constant on Earth, and although organizational change is easy to talk about, it is also hard to acknowledge and accept the value that it could potentially bring. In today’s businesses, it is evident that there is a need to adapt to changing environments as companies expand globally (Demers, 2007). Some external factors that prompt change are technological, economic, social, and political; internal factors include size, age, financial losses, and need to grow (Kushalappas & Pakkeerappa, 2014). Managing change is probably one of the most important, yet difficult issues in managing an organization. Thus, being able to keep up with change is not only important for sustainability, but also for success.