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

Competing in global markets entail many factors and centralization of its human resource practices is certainly vital to improve global competitiveness and empower employees for global assignments. To achieve success in global marketplace, the challenge of all businesses regardless of their size is to understand global corporate cultural differences and invest in human resources which includes selecting and retaining talented employee, training and development whilst encouraging employees to be innovative and creative. Employees selected to work in foreign locations should be prepared beforehand with adequate cross-cultural training. For an organization to be successful in the international marketplace, it must be concerned with this fit from both an internal and

When a certain point is reached regarding a company’s success, a set of different opportunities arise and partnerships may unfold. However, with every possible strategy available, risks and benefits also come into play; without discarding any of them beforehand, every option is a strong candidate until a final decision is made. In this case study we will analyze the current business strategy pertaining

Although partners learn from each other through alliances, promoting inter-firm learning happens when all participants acknowledge a number of critical factors that help or hinder collaboration (Dickson et al., 1997). Compatibility is a critical factor when companies decide to join with one another, and management on both sides examine if the partnership will deliver desired results (Dickson et al., 1997). Although partnering with businesses that offer

the success of the joint venture depends upon the compatibility of the partners and this compatibility involves culture as well. Culpan (2002) suggests that each partner in the joint venture brings its own culture and if these cultures are not

The above strategies are just a few of many different approaches cultures can take when hoping to strengthen their intercultural relationships. The importance of having a healthy intercultural relationship cannot be stressed enough because the relationship between two parties is the backbone of their potential business venture and will ultimately be the thing that makes or breaks a potential deal that could be worth millions or billions of

Every potential partner has its strengths or core competencies which should not be compromised, hence a successful alliance is one which outcome are a

Working for respectable companies based in America and Great Britain can carry wonderful benefits. The Human Resource Department must give attractive packages to appeal to skilled workers when expanding outside of the US. Bridging the gap when salaries are not as attractive can be achieved by providing other befits like healthcare, covering the cost of additional educational expenses for employees, tuition cost for children. Benefits become expensive when working with scores of people nationally and internationally. Human Resource Management plans for these types of expenses based on location and country the organization will be expanding to, overhead cost must not exceed what the organization can afford. As the organization began recruiting members of the team, it is vital to have the correct personnel be hired. Hiring the wrong people for the job can be very costly. Starting with the leadership team who will be expected to train and ahead of time to be prepared to work with others in a new setting. With conflicts breaking out around world knowing who the company is working with cannot be taking lightly. Knowing who the stakeholders are and who the company adversaries are can save money and lives. Decisive leadership in an international context is essential to high productions and partnerships globally.

While there are many various global issues that affect the International Human Resource Management to run efficiently, there are two key concepts that play a major role in understanding how to approach them with cohesive and a well coherent strategy; they are the International Human Recourse Management Strategy and Understanding the Cultural Environment. In the International Resource Management strategy, many companies will do their research in finding companies that offer the

“Join ventures usually involve an alliance where two or more companies contribute assets, which results in the formation of a new legal entity” (Satterlee, 2014, p. 228). Whit this strategy companies can do business in international markets but have a partner that will ease the process by helping with the start-up and management of the new corporation. Organizations will be able to compete in a foreign market in a cost-effective and successful way. This strategy can increase the profit of an organization, however, if effective planning is not incorporated, it can be a major failure that will result in profit loss.

Globalisation has dramatically changed the international business landscape. Corporations are now presented with unprecedented opportunities for growth, development and multinational expansion (Dobbs et al, 2013). With increased market and technological integration also comes the immense movement of people; connecting different cultures and nationalities from across the globe. It is now widely considered that diverse organisations are the most successful organisations, with cross-cultural collaboration often improving overall work efficiency by ‘integrating collective wisdom and strength’ (Li, 2011, 114). However, cross-cultural collaboration can also generate an organisational challenge, as disparate cultural backgrounds can often cause unintended misunderstandings (Li, 2011). The primary aim of this paper is to provide an analysis of an organisational merger between an American and a Chinese healthy food company, which will be situated in China. The authors of this paper will be acting as consultants, aiming to identify the cross-cultural barriers between the United States and China. Both organisations have identified the international merger as beneficial to their strategic objectives, however certain cross-cultural differences must be acknowledged as a potential challenge. Therefore, using relevant cross cultural theories, models and literature, this paper will advise how cultural challenges could be minimised. The paper will focus on issues surrounding communication and

ESSAY TOPIC (1) :A joint venture is affected by the cultural distance between two partners. In what ways are joint ventures and types of international collaboration affected by cultural differences?

According to the works of Chaney & Martin (2011) and Harris & Moran (2000), they agree that international management skills are in need for the increasing scope of international trades and investments. A large number of multinational companies have expanded their businesses through both developed and developing countries. Some of the business invest directly and others are partnership arrangements and strategic alliances with domestic operations. Their studies show that independent entrepreneurs and small businesses have started investing and competing in the world marketplace. Thus, to acquire corporations’ objectives, there is exceedingly a necessity for the development of strategic framework for cross-cultural management and communication in the current competitive global market. Chaney & Martin (2011) also noted that, cultural awareness and cultural differences are strongly important to the multinational corporations’ success. A good understanding of the culture where business is implemented can make international managers productive and effective.

In this day and age the world is no longer bound by distance; the gap between countries and cultures are shrinking. Most business try attempt to take advantage of this and expand beyond the borders of their homeland. The idea of world market share is lucrative to most businesses not to mention

Partners may provide the strategic alliance with resources such as products, distribution channels, manufacturing capability, project funding, capital equipment, knowledge, expertise, or intellectual property. The alliance is cooperation or collaboration which aims for a synergy where each partner hopes that the benefits from the alliance will be greater than those from individual efforts. The alliance often involves technology transfer (access to knowledge and expertise), economic specialization, shared expenses and shared risk.

Partners: Nurture a winning network of customers and suppliers, together we create natural, enduring value.