Currency Fluctuation: A Series of Problems for Global Managers

493 Words2 Pages
Global managerial workers come across a series of problems in their line of work: Currency Fluctuations make it difficult for the international manager to continue to export product from a particular country as long as the currency there experiences a sudden rise in value. Human Rights Violations - A manager is also likely to experience serious problems if he continues to export products from a country that is known to act in disagreement with the human rights agenda. Balance of Trade Problems An international managers who also needs to be in good relations with local markets finds it difficult to export products from a particular country as long as the country he or she resides in is experiencing a significant deficit in goods and services. Piracy of Intellectual Property Rights and Other Merchandise A manger often finds his company's products and services being pirated and thus needs to come up with solutions to discourage piracy and encourage individuals to buy products and services from his company. Culture shock Bringing a business into a foreign country is likely to pose serious problems in the first few years and a manager needs to be well-acquainted with strategies he or she can employ in order to avoid experiencing trouble. 2. Think Globally, Act Locally In order for a business to have success in a foreign market, it needs to maintain some of its main principles while also trying to adapt to the local market by putting across attitudes that are in accordance
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