...A global manager is showed by the attitude of the work they do within an organisation with global operations. A global manager is an individual who has the capability to manage company across boarders. This individual is demanded not only to handle the complexity by planning and budgeting, organizing and staffing, and controlling and problem solving. However, also to deal with change by setting a direction and aligning, motivating and inspiring people (Hanh et al. 2012). The knowledge requirements for global manager included: * System knowledge: this involves technology knowledge, the basic of the knowledge that required as a global manager. * Business domain knowledge: includes business functions, company specific and business environment knowledge. * Cultural knowledge: ability to figure out problems and situations correctly according to the different culture and ability to figure out effective ways to solve problems according to the different culture. Janssens & Cappellen (2010) stated that “global managers are expected to overcome an ethnocentric mindset and develop an openness to and understanding of other perspectives, selectively incorporating foreign values and practices into the global operations”. Additionally, they need to learn about many foreign cultures’ perspectives and comes up to conducting business, be flexible and open-minded in the direction of a multitude of cultures, and have a broad cultural viewpoint and appreciation for cultural diversity...
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...Economics for the Global Manager BUS610 AIU Abstract This paper’s objective is to discuss the differences between microeconomics and macroeconomics and examples of each. It will discuss a personal microeconomic example with the factors that contributed to the decision. It will also discuss an example of a macroeconomic phenomenon and the results of the decision. Economics for the Global Manager Microeconomics is an analysis of how individuals and firms will make themselves as successful as possible in a world of shortages and the penalty of those individual decisions for markets and the entire economy. It will study how individuals and firms make decisions and how the individual decisions will affect markets (Perloff, 2012). Macroeconomic is an analysis of the performance of the whole economic system. It can forecast the national income by studying the major economic factors that have predictable patterns or trends and the influence they have on one another. The factors used are prices, balance of payment positions, gross national product, and employment / unemployment (Macroeconomics, 2013). The difference between microeconomics and macroeconomics is clear. Microeconomics is the study of the individuals / firms markets. It looks at the allocations of resources and the prices of goods. Macroeconomics is a study of the whole economic system. It looks at gross national product and how it affects unemployment. A microeconomic phenomenon example is taking a looks...
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...Economics for the Global Manager BUS610 AIU Abstract This paper will discuss Boeing’s global operations as it pertains to its activities outside the U.S. It will identify the economic concepts that apply to this firm and how the concepts can be used to address the firm’s problems and opportunities. It will identify the economic and political policies that affect this firm and how the policies impact business decisions. It will discuss how the firm uses technology for strategic advantages and the impact of globalization for the firm. Economics for the Global Manager Introduction The world’s largest; Boeing is an aerospace company that leads the manufacturing of commercial jetliners. Boeing also has manufacturer defense, space, and security systems (About Us, 2013). Boeing’s global operations have supply and manufacturer activities outside the U.S. (Backgrounder, 2013). The economic concepts that apply to this firm are manufacturing of commercial jetliners as well as defense, space, and security systems and these concepts can be used to address the firm’s problems and opportunities (About Us, 2013). The economic and political policies that affect this firm are economic growth and political turmoil and these policies impact business decisions (Long-Term Market, 2013). The firm uses technology for strategic advantages by ¬making plans in its research and development investments to maximize potential returns and the impact of globalization for the firm (Arkell, 2005)...
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...Economics for the Global Manager BUS610 AIU Economics for the Global Manager 1) $1 US = .80 Euros Won: 1,000,000 Euros $ 800,000.00 Won in US $ If the lotto winnings were exchanged from Euros to US dollars right away, the winner would receive $800,000.00 US. 2) Irish Bank 4% 1 yr CD US Bank 2% 1 yr CD $ 1,040,000.00 After 1 yr in Irish Bank CD $ 832,000.00 Exchanged to US dollars at .80 Euro = $1 US $ 816,000.00 After 1 yr in US Bank CD If the lotto winnings were left in an Irish Bank CD for 1 year with a 4% rate, the winner would receive 1,040,000.00 Euros, and after being exchanges into US dollars at .80 Euro equaling $1 US the winner would receive $832,000.00 US. If the lotto winnings were taken to a US Bank CD for a 1 year with a 2% rate, the winner would receive $816,000.00 US. The winner would do better off in the Ireland Bank CD. 3) $1 US = .85 Euros in Irish Bank 4% 1 yr CD $ 1,040,000.00 After 1 yr in Irish Bank CD $ 850,000.00 US If the exchange rate changed to $1 US = .85 Euros and the lotto winning were left in the Irish Bank CD for 1 year with a 4% rate, the winner would receive $1,040,000.00 in the Irish Bank CD and exchanged to $850,000.00 US. The winner would do better off in the Ireland Bank CD. 4) Banks use “covered interest arbitrage” to protect themselves when they make international financial investments by borrowing currency then converting it to a second currency to invest...
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...languages, hut he was less familiar with Corning and its businesses. In contrast, ITT decided to set up a massive educational program to "globalize" all managers responsible for its worldwide telecommunications husiness-in essence, to replace its national specialists with global generalists. Corning and ITT eventually realized they had taken wrong turns. Like many other companies organizing for worldwide operations in recent years, they found that an elite of ¡et-setters was often difficult to integrate into the corporate mainstream; nor did they need an international team of big-picture overseers to tbe exclusion of focused experts. Success in today's international climate-a far cry from only a decade ago-demands highly specialized yet closely linked groups of global business managers, country or regional managers, and worldwide functional managers. This kind of organization characterizes a transnational rather than an old-line multinational, international, or global company. Transnational integrate assets, resources. 124 and diverse people in operating units around the world. Through a flexible management process, in which business, country, and functional managers form a triad of different perspectives that balance one another, transnational companies can build three strategic capabilities; • global-scale efficiency and competitiveness; n national-level responsiveness and flexibility; and • cross-market capacity to leverage learning on a worldwide...
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...Running Head: ECONOMICS FOR THE GLOBAL MANAGER Economics for the Global Manager BUS610 AIU Abstract This paper will discuss a U.S. multinational company named Time Warner that has revenues and cost. It will also discuss two operations under Time Warner operations that contribute to the profits. It will also discuss the means that the company uses to hedge against exchange rate risk. The paper will discuss the effectiveness of increase or decreasing the dollar’s exchange value on the company’s profitability. Economics for the Global Manager Introduction A global leader in media and entertainment, Time Warner Inc. has businesses in television networks, film, and TV entertainment and publishing. Time Warner Inc. uses its industry-leading operating scale and brand to create, package, and deliver high-quality content worldwide through multiple distribution outlets. The operating divisions of Time Warner Inc. are at the top of their categories including Warner Bros. Entertainment and Turner Broadcasting System which are measured by quality, popularity, and financial results. The union on Time Warner Inc. business and employees is based on the passion for storytelling and the commitment to gaining the competitive advantage (About Us, 2013). Revenues The programming services that are provided by Time Warner Inc. are subscription revenues based on contractual programming rates that are negotiated. The advertisements aired in a period are recognized...
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...| Leadership challenges faced by managers leading a multi-national workforce | Developing the Global Manager Report | | | | Glossary HCN: Host Country Nationalsg MNC: Multi-national Company MNW: Multi-national Workforce Contents Page Introduction 4 Aims 4 Objectives 4 Leadership Challenges 5 Recommendations 15 Conclusion 16 Appendix 17 References 20 Introduction This report aims to discuss on the challenges faced by managers in leading a multi-national workforce (MNW). For MNC managers to achieve a well- balanced fluidity of leadership, communication, structural, strategic and cultural changes should always be reviewed (Reichwald et al 2005). Leaders of MNCs can have problems in meeting the needs of specific markets and can easily encounter conflicts when endeavouring to achieve effectiveness and efficiency (Martinez et al 1999). Due to political, cultural and geographic barriers, coordinating multinational workforce (MNW) can be a challenge for MNC managers (Cavusgil and Cavusgil 2011). Through implementing change, new procedures, creating new ideas and new policies MNC leaders become successful to the MNW (Darling 1999). MNC managers have a responsibility in influencing direction, opinion, action and course hence taking responsibilities (Oertig and Buergi 2006). 2.0 Aims The aim...
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...Economics for the Global Manager BUS610 AIU Abstract An economic company has contracted out to establish the financial structure and potential actions of the Organization of Petroleum Exporting Countries, or OPEC. The purpose of this paper is to discuss the difference between a monopoly, an oligopoly, and a cartel along with examples of each. It will discuss the welfare effects of monopolies and oligopolies. It will discuss how game theory explains the relations of firms within oligopolies and cartels and the financial purpose of OPEC and the past five years of the oil prices. Economics for the Global Manager The Organization of Petroleum Exporting Countries, or OPEC, economic structure and future actions are predicated on a contract from an economic firm. The difference between a monopoly, an oligopoly, and a cartel are simple and examples of each will be given. The welfare effects of monopolies and oligopolies will be discussed. Game theory explains the relations of firms within oligopolies and cartels. The economic purpose of OPEC and what has happened to oil prices over the past five year will be discussed. Differences /Examples One seller of a good or service which has no close substitute and has substantial control over the price and protection from rivalry through a barrier to entry is a monopoly. An industry that has moderately diminutive number of firms, barriers to access, price searching behavior and mutual interdependence is an oligopoly. A cartel...
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...Though, the non-manufacturing jobs such as customer service, manufacture analysis, technical work, computer programming, are not causing any disturbance for the firms cost budget. The availability of global human capital for a firm brings out numerous challenges for the managers as they would move to various countries on terms of work and should be feasible to adopt the new culture and policies of the same firm. Globalization of human capital also focuses on the mobility of the talent beyond a specific company. Example: People aim to work in reputed companies like Google, Microsoft etc. Globalization is helping in picking the right talent from various countries and giving the opportunities. Yes, globalization is inevitable as companies always aim in expanding their business with various intentions. This leads to constant work trips made by the qualified employees to different countries. How does this case illustrate the threats and opportunities facing global companies in developing their strategies? The threat facing Apple in the case study gave an adverse image after the inquiry by President Obama regarding the jobs offshored. This gave a kind of perception to people that, this company is into greed and did not care about the customers in their country, an issue which every global company would face. The opportunity for Apple is low cost, more profit. This company is able to...
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...BUS610-1005A-01 - Economics for the Global Manager 13 November 2010 Introduction In economics, there are many things which take places. They include performance, organization, activities and decision making. Economics, like many other subjects in life, can be studied at different levels. These things can be conducted at individual level, or at a common level. What we mean by individual level is they may be by individual company, firm or an entity business person. The way the different entities behave may differ due to their different demands and supply. What we mean by decision made at a common level is that it looks at the entire activities and behavior of the entire economy. This may be at national level, regional level or even global level. Difference between microeconomics and macroeconomics Economics is primarily split into two major sections, this are the macroeconomics and the microeconomics. The two are so much connected. Adjustment in one affects the other. Both of them work together in the world of economy. The macroeconomics can be considered to be the summation of microeconomics. However there exists a difference in the two. We shall be discussing on the distinction between the two in the subsequent few paragraphs. To begin with, the naming denotes that there is a difference between macro and microeconomics.’ macro’ stands for large in Greek, while 'micro’ stands for small in Greek. This is to explain that microeconomics covers the...
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...Economics for the Global Manager BUS610 AIU Economics for the Global Manager The Heckscher-Ohlin theory explains that countries trade goods and services with each other because the countries vary in the accessibility of the factors of production such as more machines than workers or more workers than machines. A country will specialize in the production of goods for which it is fitting to produce. According to the theory, a higher standard-of-living will occur in the countries who participate (Why Trade, 2013). The Ricardian Theory, also known as the theory of comparative advantage, dominates the theory of international trade. The theory forms the basis of the claim that free trade operates to the advantage of every nation. It was built on the basis of the concept of labor value (Ricardo’s Theory, 2013). While the Ricardian model is simple, it assumes labor as a factor to production. The Heckscher-Olin model is more realistic because it considers two factors of production—capital and labor. Capital cannot move from country to country but is mobile across national borders, according to the Heckscher-Olin model, which is key to many results. With a world that has significant capital mobility, the Ricardian theory of trade is more useful than Hackscher-Olin (Mankiw, 2007). Despite that the US has an great quantity of capital, the exports are labor intensive while imports were capital intensive, according to Leontief. America has a superior economic organization and...
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...Personal Challenges for Global Managers Building an internationally competent workforce whose members know the business and are flexible and open-minded can take years. Multinational organizations can no longer rely on just a few managers with multicultural experience or a few experts on a particular country to succeed. In short, all employees must have some minimal level of international expertise and be able to recognize cultural differences that may affect daily business communications and working relationships. In general, overseas managers share common traits with their domestic counterparts. Wherever a manager is hired, he or she needs the technical knowledge and skills to do the job, and the intelligence and people skills to be a successful manager. Selecting managers for expatriate assignments means screening them for traits that predict success in adapting to what may be dramatically new environments. Beyond the obvious job-specific qualifications, an organization needs to consider the following qualities and circumstances when selecting expatriates for positions in foreign countries: * A willingness to communicate, form relationships with others, and try new things * Good cross-cultural communication and language skills * Flexibility and open-mindedness about other cultures * The ability to cope with the stress of new situations * The spouse's career situation and personal attributes * The existence of quality educational facilities for the...
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...Summary Jordan Cohen, a senior director at the global pharmaceuticals company Pfizer, realized that a lot of skilled employee time was in effect “wasted” on routine tasks such as using Excel and PowerPoint and doing basic research. The PfizerWorks team managed to do what many consider an impossibility to devise a successful innovation from the bottom up in a big company. It was possible because Mr. Cohen already had years of experience in the company, so he could understand and navigate general company politics. Lone, obsessive geniuses may do well in a garage start-up but, in big companies, to make innovation happen, the manager first needs to embrace both the corporate machine and the people in it. On a personal level, Mr Cohen had a keen grasp of his shortcomings and knew when to recruit different thinkers for his team. He understood the iterative nature of the innovation process, accepting that nothing is perfect in the beginning. As a result, while Mr Cohen did run some personal risks in undertaking such a project in this way, he minimized the risks through a careful management of the various stakeholders and created his dream job as head of PfizerWorks. Discussion question 1. Pfizer is the world’s largest research-based pharmaceuticals firm and also a well known Pharmaceutical company. So their most of the work depends on research, developing Strategies and innovate. They were trying to find a new way of system...
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...Communication is always a big challenge, but people on both sides need to be very patient. Managers can use process orientation and survey feedbacks to make improvements. Cultural differences factor into this significantly. For example, most people in India have a frame of reference for health and life insurance products, but knowledge of pension plans doesn’t come naturally in a country where pension plans are rare and there is no social security. To enable business to succeed and for people to gain more knowledge and build relationships companies must promote travel, and when possible, have conference calls, meetings, joint projects, and more global work opportunities for employees on both sides. I think the first few years may be a challenge for managers but as the people gain familiarity and knowledge of processes it becomes easy to manage. Although time zone differences, cultural (communication) gaps, and limited opportunities for end-user interaction will always present challenges, working in a global setup would benefit organizations in many ways and would enable to maintain a highly competitive IT unit cost. Research suggests that 70% of remote working relationships fail due to lack of communication and unclear roles and expectations. As such, it is essential for the remote manager to develop clear communication protocols and establish individual goals. At the same time, a remote manager needs to provide effective project management support and ensure ongoing performance...
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...Project Proposal Comments: * NextGen * The project will consist of at least 10 hours of training on both the use of the new platform as well as a host of new compliance policies being introduced. * Primary Stakeholders, Secondary Stakeholders, and Key Stakeholders (Competitors, Employees, Government, Government regulatory agencies, Industry trade groups, Investors, Labor unions, Local communities, National communities, Professional associations, Prospective customers, Prospective employees, Global community, Shareholders, and Suppliers, etc…) * The overall objective is for all managers across the country to train hands-on in a central location for at least 10 hours on the new platform as well as a host of new compliance policies being introduced. * Even though not all managers are going to be willing to commit to taking time out from their normal responsibilities just for some training the success of this project will be evaluated by the progress in the managers, the impact, the success, and the outcomes they bring back to their Office after the training. The most important evaluation would be your own satisfaction with the outcome of the project and how it will be achieved. In addition to being evaluated, your team will provide potential feedback and effectiveness of the training to your CEO. * Gather all data/feedback to measure the success of the new platform and policies. How has business benefited from the new technology/policies? Are manager’s well...
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