If you were an owner of an international and rapidly growing high-tech firm making sophisticated computer chips for medical equipment a) From the three basic approaches to manage an international company (ethnocentric, polycentric, and geocentric approaches). What do you think is the best approach and why? (b) Do you think an international firm should have local managers in all important posts? Why or why not? Please give clear insights.
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If you were an owner of an international and rapidly growing high-tech firm making sophisticated computer
chips for medical equipment
a) From the three basic approaches to manage an international company (ethnocentric, polycentric, and geocentric approaches). What do you think is the best approach and why?
(b) Do you think an international firm should have local managers in all important posts? Why or why
not? Please give clear insights.
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Solved in 2 steps
- Leading companies should develop staff who have global perspectives. What does this mean and is it true? Does it apply to organizations of all sizes?I. Let’s assume that you are an expatriated manager of a U.S. manufacturing subsidiary in your selected country. What is the most important external or environmental issue in your opinion? Which of international management concepts (at least three) will be useful for you to respond to such an issue? Explain with specific examplesIn Cross-National Management organization today, it is important to know - definitions, relevant theories, challenges, recommendations/way forward, etc. to be in a better position in this global market. Cross cultural management helps us to interact, understand and deal with people who belong to other cultures. Cross-cultural management is important today because the organizations of today are global entities rather than regional or national/local outfits that they used to be in the previous decades. An essential ingredient for success in any international business setup is the ability to understand other cultures and their dynamics. 1. Define cultural intelligence and its relevance in the cross-national organization today 2. Briefly discuss, evaluate and state its relevance in cross-national organizations theories such as: a. Hofstede’s Cultural Dimensions Theoryb. Trompenaars’ Model of National Culture Differencesc. The Lewis Model 3. Explain five strategies for working in cross…
- All of the following are important for the success of global managers, except: a. Experience working in a foreign country b. The ability to network across borders c. Knowledge of your job role effectively d. MoneyCulture and Trade: The International Landscape At 9:00 am; the meeting begins. You quickly note that Teresa was correct. There are still some empty seats in the conference room. While you look at the first list of featured attendees, you begin to wonder how people who traveled to the conference over the weekend could be late> Featured Managers Led by Teresa Gonzalez, V.P. of Global Products Management Jean LeBlanc, Reginal Manager, France Rogelio Ramirez, Reginal Manager, Mexico Andrea Murphy, Reginal Manager, Ireland Jessica Lee, Reginal Manager, China Aisha Baydar, Reginal Manager, Turkey You scan the crowd and notice that Rogelio has not arrived yet. You consider that his tardiness may be due to which international external force? sociocultural Legal Economic PoliticalA multinational or multicountry strategy entails A) giving local managers considerable autonomy and often producing different product versions for different countries. B) pursuing strong product differentiation and competing in many buyer segments. C) extensive efforts to transfer a company's competencies from one country to another so as to keep entry costs into new country markets low. D)a narrow product line aimed at serving buyers in the same segments of country markets worldwide. E) aggressive efforts to build a strong profit sanctuary in every country market where a company opts to compete.
- Describe the concepts of culture, multiculturalism and diversity from the perspective of customs and values in the face-to-face and virtual space that are observed in other countries. Explain the theory of cultural dimensions and how knowing it can help a manager in international business management. Support your answer by referring to the approaches of Geert Hofstede and Fons Trompenaars.(1) If a multidomestic approach gives local managersthe most flexibility for responding to local marketconditions, why wouldn’t every international companyuse this strategy? (2) How might the choice of overallorganizational strategy affect a company’s staffingplans in each country?Suppose a US multinational company wishes to do business in China, a high context country. Describe some challenges corporate headquarters might face when attempting to train employees abroad. Hint: the US is a low context country.
- There are numerous techniques that multinational companies can use to analyze or forecast International Political Risk. Required: From the choices below, choose TWO (2) specific international political risk analysis or forecasting techniques. O Joint Venture O Political Risk Consultant O Code of Conduct O In-house Political Risk Analysis StaffWhen McDonalds, an American multinational corporation, entered the Chinese market, it faced many cross-cultural management challenges due to cultural differences. (a) In light of the above statement, explain the cultural differences between China and United States of America using Hofstede’s cultural values model. (b)You have been appointed as the new Regional Manager to oversee McDonalds operations in China. You are aware of the need to deal with cultural differences and to adapt to the Chinese culture. Explain the international strategies that you would implement for McDonalds in China in the management of its: product marketing workforceWrite 2 or 3 paragraphs to teach the competency to somewho who has not taken Introduction to Business. 1. Describe how firms engage in international business.