Economic Liberalization- Overview

1065 Words Feb 22nd, 2018 4 Pages
This global economy has in turn increased the number of cross-cultural interactions among various multinational companies. Globalization refers to a process which deals in developing relatively standardized products with global appeals, as well as rationalizing operations throughout the world (Barto and Martin, 1998). To achieve these objectives, organizations require sending their selected representatives for overseas assignments to keep a check on the standards of their products and services abroad. Human resource experts all over the world agree that it is essential for any Multinational Company (MNC) to select, train, develop and retain employees who can work and live efficiently beyond their national boundary (Caligiuri, 2000).

The employees who are selected and trained and sent from a parent country to another country, for a specific duration, to manage a business concern are colloquially called as ‘expatriates’. Aycan and Kanungo (1997) define the tern expatriate as: “Employees of business and government organizations who are sent by their organization to a related unit in a country which is different from their own, to accomplish a job or organization related goal for a pre-designated temporary time period of usually more than six months and less than five years in one term.”
The number of employees working abroad for a project/assignment or a…
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