Intenational management 1

Topics: Culture, Cross-cultural communication, Management Pages: 20 (5054 words) Published: December 2, 2014


ROYAL BUSINESS COLLEGE

DIPLOMA IN BUSINESS MANAGEMENT
Level 7

ASSIGNMENT FOR INTERNATIONAL MANAGEMENT
IML8092

ASSESSMENT COPY OF

Student Name: Nisha Chudji
Student ID: A7553
Date: 17th November, 2014
Level: 7

Contents
1. Which are the biggest management challenges for international firms?3 2. What are some of the forms of political risk?4
3. How should multinationals deal with human rights abuses by foreign governments?6 4. What is the effect of cultural context in cross-cultural inter actions?7

1. Which are the biggest management challenges for international firms? What can firms do in response (1.1)?

Answer:
International management is defined as a process of accomplishing the global objectives of a firm by: Effectively coordinating the procurement, allocation, and utilization of the human, financial, intellectual, and physical resources of the firm and across national boundaries, and effectively charting the path towards the desired organizational goals by navigating the firm through a global environment that is not only dynamic but often very hostile to the firm’s very survival. International firm’s biggest management challenges are

Macro environmental:
1. The major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic factors, demographics, legal, political, and social conditions, technological changes, and natural forces.

Economics: Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways.

2. Politics: Politics itself is a mixture of the high and the low. Politics is the realm in which we attempt to realize some of our highest aspirations: our desire for political freedom, our longing for justice, our hope for peace and security. At the same time, politics is laced with individuals and groups seeking their selfish interests at the expense of others.  3. Infrastructure laws: Infrastructure generally refers to the most basic level of organizational structure in a complex body or system, upon which the rest of the structure is based. In economic terms, it often refers to basic public services, such as power and water supplies, public transportation, telecommunications, roads, and schools. Precise definitions will vary by local law and governing entity. The following is an example of a school's definition of infrastructure: For the purposes of this program, infrastructure is defined to include those activities of purchasing, building, furnishing, reconstructing, repairing, improving or remodelling a schoolhouse or schoolhouses and additions to schoolhouses, gymnasium, field house, and procuring a site or sites therefor, or purchasing land to add to a site already owned. 4. Culture: Is a concept that has been used in several social science disciplines to understand variation in human thought processes in different parts of the world. Culture is to a society what memory is to an individual. Firms responsibilities

A. Firm’s structure
B. Firm’s strategies
C. Implementation and
D. Controls
Firm should response to the challenges in following ways
1. Communication: Two-way process of reaching mutual understanding, in which participants not only exchange (encode-decode) information, news, ideas and feelings but also create and share meaning. In general, communication is a means of connecting people or places. In business, it is a key function of management--an organization cannot operate without communication between levels, departments and employees.

2. Leadership: Leadership in the business world requires harnessing the energy...
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