Managing a Multinational Corporation
What exactly is a multinational corporation? Mutlinational corporations as we all know have been around since the beginning of trade. They are commonly known as MNCs. A multinational corporation is a company that operates in numerous countries and base’s its headquarters in one country (or home country). Multinational corporations are also known as multinational enterprises or transnational corporations. The top multinational corporations are headquarterd in the United States, Japan and Western Europe. On the contrary, modern MNCs are headquartered in countries that are considered less than wealthy such as Brazil, Kuwait and Taiwan .
Managing across borders is not an easy task. One must be globally …show more content…
A significant challenge management face is taking an international product or service and successfully localizing it. Approaching global demographics from business to consumer perspective is a dynamic managerial skill. During the implementation strategy, managers look for ways to retain the identity of the culture in which they operate, in addition to branding a design for the new product. Managers must also take note that ethical and environmental concerns are a large factor when localizing. As found in Boundless “Minimizing the damage done to the environment, and offsetting it as best as possible through philanthropic giving, is not only a wise marketing move but also a critical ethical …show more content…
Project team meetings, face-to-face site visits and temporary transfers for key people are also arranged for the project. A web of cross-site reporting lines is put in place to encourage team members to feel an allegiance and sense of belonging to the global project. This also encourages the sharing of knowledge amongst each other and it opens communication. Furthermore, management is responsible for communicating the timelines and process flows so everyone working on the project has a complete understanding of the goals and how their contributions to them affects the
What exactly is a multinational corporation? Mutlinational corporations as we all know have been around since the beginning of trade. They are commonly known as MNCs. A multinational corporation is a company that operates in numerous countries and base’s its headquarters in one country (or home country). Multinational corporations are also known as multinational enterprises or transnational corporations. The top multinational corporations are headquarterd in the United States, Japan and Western Europe. On the contrary, modern MNCs are headquartered in countries that are considered less than wealthy such as Brazil, Kuwait and Taiwan .
Managing across borders is not an easy task. One must be globally …show more content…
A significant challenge management face is taking an international product or service and successfully localizing it. Approaching global demographics from business to consumer perspective is a dynamic managerial skill. During the implementation strategy, managers look for ways to retain the identity of the culture in which they operate, in addition to branding a design for the new product. Managers must also take note that ethical and environmental concerns are a large factor when localizing. As found in Boundless “Minimizing the damage done to the environment, and offsetting it as best as possible through philanthropic giving, is not only a wise marketing move but also a critical ethical …show more content…
Project team meetings, face-to-face site visits and temporary transfers for key people are also arranged for the project. A web of cross-site reporting lines is put in place to encourage team members to feel an allegiance and sense of belonging to the global project. This also encourages the sharing of knowledge amongst each other and it opens communication. Furthermore, management is responsible for communicating the timelines and process flows so everyone working on the project has a complete understanding of the goals and how their contributions to them affects the