Global Partnerships : The World Markets Today Are Full Of International Partnerships

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Global Partnerships The world markets today are full of international partnerships. Notably, businesses need an overseas partner to help navigate foreign policies, business, and customs. Moreover, cross-cultural partnerships succeed because human resources (HR) have a hand in providing relative information to corporate management in candidate selection. All in all, organizations must analyze factors that drive companies to international alliances, HR contributes sound advice to the executive management team before joining with potential partners, and HR making a move toward decision-making process in partner collaboration. The Five “Cs” in Cross-Cultural Partnerships Nowadays, firms align with other companies globally to gain a market position in that particular continent or country when parent companies cannot penetrate that market by themselves. After all, businesses that are expanding worldwide will need a partner who is familiar with cultural customs, languages, lifestyles, and the government if corporations want to acquire an intercontinental presence; so there are five factors cross-cultural business alliances should consider in a partnership. First, partners should seek other partners that have complementary skills (Brouthers, Brouthers, & Wilkinson, 1995). Businesses spend too little time on searching for the appropriate partner instead of selecting a partner that has experience, capabilities, and potential to reinforce the alliance to be successful (Brouthers et

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