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Mulinatioal Buisiness

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Submitted By ELTaylor
Words 388
Pages 2
Group members will build upon the work from the previous weeks, incorporating instructor feedback.

This section of the paper will add in a chosen organizational structure for your multinational and the division in the country you have chosen, addressing the following areas:

Describe the importance of understanding culture in global business dealings

Apply knowledge to determine the best strategies of expansion in global firms

Examine different strategies that can be employed when dealing with human resource management (HRM) in a foreign division

Discuss relationships between various multinational strategies and types of organizational structure

This section should be 2–3 pages of additional work, not including the previous sections.

Describe the importance of understanding culture in global business dealings

Culture influences how people interact with each other in the business world. Culture guides decision making behavior, thinking patterns and values. (Brunot) To be successful in global expansion, the need for effective cross –cultural communication has become essential. Knowing a foreign culture is a long-term process of incorporation, comprehension and integration. (IDESLI) Before expanding globally it is important to take the time to know the culture of the country you are expanding in, this shows a sign of respect that will be valued. A businesses that successfully respond to the culture and lifestyle in their new global expansion area has a better chance of developing a successful business. It is important to know how business is done in the country you are expanding in and what one should never do. (IDELSI)

Language should also be considered when expanding to a different country; you need to be aware of the local expressions and how they express themselves. For example when promoting, or naming products in a different

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