Globalization On Business Management : The Multinational Company Essay

Multinational Corporation - business enterprise with manufacturing, sales, or service subsidiaries in one or more foreign countries, also known as a transnational or international corporation. These corporations originated early in the 20th century and proliferated after World War II.

Becoming a multinational corporation encourages the company to be risky and also presents a way to offer what you have to another market, it gives to other people the possibility to know you in other places. In addition, it also will help the country where you are going because for example some "developing countries encourage multinational companies because of the innovative technology they bring to the host country and because they typically offer higher wages than the national average."What Are Two Strategies Commonly Used by Multinational Companies? (n.d.). Retrieved November 19, 2017, from https://yourbusiness.azcentral.com/two-strategies-commonly-used-multinational-companies-27096.html In conclusion, multinational corporations are a way to success when you are already a big company and sometimes when you are a small one because it gives you and the other countries the opportunity to

Culture can be defined as a set of shared values, shared beliefs and customary ways of thinking doing things, which shape and guides the ways of organisational members. Culture is therefore very crucial as it has the ability to influence the processes or the activities of employees and the functioning of the organisation without necessarily imposing measures and control.

What is a multinational company? The best explanation of what a multinational company is simply company which operates in two or more countries. With the competition within the global market, exploration for expanding into new markets with products and services is a necessity in order to stay ahead of the competition. Gaining and maintaining a competitive edge in the global business world increases an organization’s chances of a more promising future. In order to consider reaching out into the global markets for a particular service or product, a company needs to be very successful where there company originated. In order to be a leader in the global business world, an organization has to successfully displayed financial control as well as

According to Greenwood (1957), culture is defined as "The interactions of social roles required by these formal and informal groups generate a social configuration unique to the profession" (p. 52). In any profession, it is important to respect others cultures, beliefs, and values.

It is commonly known that different organisations have their individual cultures. Culture describes who they are and what they stand for. It relates to the organisation 's traditions, customs, beliefs, meanings, morals, ethics, norms, language, shared values and practices. The business culture determines how people communicate within the company. There are numerous factors affecting

Firstly, we have to understand what is culture? Culture can be describe as collective programming of the mind, which distinguishes the members of one human group from another. Culture in this sense includes systems of values. (Hofstede, 1984) Culture in a simpler way is the "pervasive and shared beliefs, norms, and values that guide the everyday life of a group." (Cullen, 2010) National, Business, Occupational and Organisational are the different levels of cultures that are encountered by firms regardless of dealing and trading in their own country or expanding into another. Business culture though, is the most relevant out of the four as it pertains to all aspects of doing business in a culture. It 's important to note of this culture as it teaches individuals the appropriate and acceptable manner of conducting business in a society. Understanding business cultures and its importance establishes the argumentative case for the need of firms to behave in accordance to those of their host countries.

“Culture impacts most aspects of organizational life, such as how decisions are made, who makes them, how rewards are distributed, who is promoted, how people are treated, how the organization responds to its environment, and so on”(9)

Culture can be defined into many definitions and it also can be separated into different types, all so that we can better understand it. Hofstede claimed that culture was the mind 's way of separating one group of people from another (Kawar, 2012). Due to the technological advancements in the world people from all over are working together with new ways of communication. Though we must know the diversities of each culture in order to avoid being offensive, the same principles we use in communicating with different cultures is no different to what we would use in the workplace. When working in an organization you must motivate the employees, all while setting a structure for their policies and guidelines. Also, developing

Culture plays an important role in any organization, as it impacts the way it is run. This includes how employees and managers interact with each other and with customers (Mats, 2002, pg.

A multinational company is often defined as a corporation whose operations and investments are broaden across a number of countries. They are also referred to as transnational companies. Therefore given this definition it would be expected that if a company operates over such a large territory that it would indeed have many effects and impacts, locally and globally, and its role would also be quite significant as it can have a direct influence on an economy, the environment and general effects on society. However, changing the way they run things in order to accomidate society could break there business down and they could eventually have no impact on society so looking

- Globalization: the process by which businesses or other organizations develop international influence or start operating on an international scale

The importance of culture should never be underestimated. It is an important factor and it can even become to a core competency of high value. One reason for that is because competitors can not replicate a culture. It is a unique feature of a company and can become an important factor of the company’s success.

According to Friedman (2000 in Blythe & Zimmerman, 2005), globalization is the “inexorable integration of markets, nation-states and technologies to a degree never witnessed before-in a way that is enabling individuals, corporations and nation states to reach around the world farther, faster, deeper and cheaper than ever before, and in a way that is enabling the world to reach into individuals corporations and nation-states farther, faster deeper and cheaper than ever before.” Simply put, it is the connectivity of individuals and institutions across the globe or at least over most of it. Globalization basically ends up in the assumption that distinctions between national markets square measure attenuation and can eventually disappear because the world becomes a world village. It’s so safe to conclude that globalization may be a development that's here to remain and in and of itself, managers ought to create deliberate efforts to watch the worldwide surroundings to change their organizations to adapt to changes during this surroundings.

The globalization of businesses affects the personal, production, and the business mindset on numerous levels across the board. When the technology we now use for business purposes today was not available, the success one has as a marketing manager for a major company meant, for the most part, the ability to sell and market your companies product domestically at the highest level possible. However, due to the major advancements in technology such as the Internet that have expanded the marketability of companies, the views of what now makes a successful manager have changed. If marketing managers for a larger company were to only focus on the domestic customer and not have a global mindset, then they wouldill surely fail to expand across the seas or to other countries and more than likely lose their job.