How Multinational Corporations Are Becoming More Significant At The Worlds Business Markets

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Multinational corporations are becoming more significant in the worlds business markets. With an abundance of worldwide firms with foreign affiliation, multinational corporations employ managers who must work with others that have a wide variety of backgrounds and cultures. When multinational corporations require international business contacts to interact, it is critical for managers to demonstrate cultural sensitivity in order to meet business goals. In a world where crossing boundaries is routine, cultural intelligence becomes a vital ability and skill for managers, managers must adjust their managing styles between cultural and emotional intelligence. Management Styles The style of management a manager employs when managing an organization depends on the business location, culture, values and type of business. A manager may need to employ one or more styles of management to be effective as a leader. A variety of management styles exist: Autocratic, democratic, laissez-fair, and manage by walking around. (Fig. 1) Any of the aforementioned styles may be used depending on the individual employees’ culture or even the organizations culture. Some managers are more likely to use one general style in most all situations. Others may choose different styles depending on the particular needs of a given situation. In any situation, a manager must evaluate their effectiveness of the style in the given situation. Managers who have the ability to evaluate their
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