International Management

Technology and Globalization have changed the landscape of organizational functionality. The technological advent of virtual communication has created opportunities to collaborate with individuals anywhere around the globe. Globalization has provided organizations with several opportunities to maximize their profits by allowing strategic placement of operations in countries where resources are cheaper or more abundant. Capitalizing on these opportunities requires communication and coordination of global teams (Griffith & Harvey, 2007).

The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.

At the time of increasing globalization worldwide, going international is the ultimate choice for most companies that aiming to expand their business and market in the future. However, entering and sustaining a new market has always been the challenge for most companies that chose to do so. Among the essentials matters to be considered in going international, the understanding of the dynamics of international management (IM) issues and how to resolve it is of paramount to all corporations. This paper will provide an analysis of concepts and highlight on cultural theories and a case study of Carrefour in Japan to emphasize the importance of sufficient knowledge in IM dynamisms in general, and cross cultural management, in particular.

The world offers significant business opportunities for every company, however, opportunities are accompanied by significant challenges for managers. Managing global operations across diverse cultures and markets represents a big challenge and opportunity for companies. To compete in the global market and be successful, companies must learn the strategies, policies, norms and technology necessary to conduct international business. The opportunities for global expansion are numerous, and attaining success is a matter of developing the right strategy to win local markets and its consumers.

A value chain is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable product or service for the market. The concept comes from business management and was first described and popularized by Michael Porter (Porter, 2013)

International management is defined as the practice of business operations in multiple countries. To be involved in international management professionals must be familiar with many different types of language, culture, economies, and environments. One of the main goals of international management is to link businesses globally and make a profit, while being able to connect various cultures.

The world’s economy has developed and changed dramatically throughout the years and continues to do so. We are quickly moving away from a world where each country’s economy is isolated and more towards a world with an interdependent global economic system. This interdependent global economic system is commonly referred to as globalization (Saee 2005). The book written by John Saee, Managing Organizations in a Global Economy: An Intercultural Perspective, suggests that the growth of global trade, cross-border investments, mass migration, large-scale tourism, and much more has turned the world into more of a “global village” (Saee 2005).

Abstract The goal of this paper shall be to examine the tools and skills used by managers functioning in a business operating on a global scale. This essay will also touch on the impact of managers and their decisions on the globalization of business as a whole. Managers of today require aptitude in the use of technology, understanding of culture, and implementation of certain skillsets in order to be successful. This paper will draw from the text of Carpenter, Taylor, and Erdogan (2009) as well as the work of Griffith and Hoppner (2013) on marketing management of global businesses to highlight the expertise required to motivate and lead a team across all cultural and language boundaries. By using the expanding options available to management today, leaders in global business can solicit the best, highest quality results from their teams. MANAGEMENT IN THE GLOBALIZATION OF BUSINESS 3 Management in the Globalization of Business Technology, Culture, and Skillset Management styles and techniques of recent decades have been forced to change in order to accommodate the growing footprint of a business’s reach. While small business can continue to thrive in the current economic environment, it could be argued that in order to gain the highest level of success, a business needs to be able to break free of geographical boundaries. In doing so, a business can offer their products/services to a larger number of people while also gaining benefits of international trade. Key contributors

Globalization refers to the widely flow of production factors within the entire globe in order to understand the optimum resource allocation. Different authors provide different definitions of globalisation with their profound research. According to international monetary fund, globalization increases the rapid and extensive transmission of technology along with international commodity, transactions of service and scale of global capital flow. The mutual independence of economy is also strengthened by Globalisation.

The precise meaning of culture seems too difficult to grasp, but it might be described as shared values, behaviors and assumptions that distinguish one group from another and are passed on from one generation to the next (Schein. E, 1990). Culture can leave a very significant influence on cognition and perception without even being aware of it (Schneider S.C., Barsoux J.L. and Stahl G.K., 2014). So culture differs from country to country at some extent. National cultural differences is the top reason why an alarming rate of up to 70% of joint ventures fail (www.ugmconsulting.com). Also, it is of vital importance when dealing with cross-border management issues. Therefore, this reflective essay aims to critically evaluate four

International business involves business activities that crosses borders ADDIN EN.CITE Brooks2004145(Brooks et al., 2004)1451456Brooks, I.Weatherston, J.Wilkinson, G.The international business environment2004New JerseyFinancial Times Prentice Hall9780273682479http://books.google.co.ke/books?id=rxzkqOPM9KUCBrooks20041451451456Brooks, I.Weatherston, J.Wilkinson, G.The international business environment2004New JerseyFinancial Times Prentice Hall9780273682479http://books.google.co.ke/books?id=rxzkqOPM9KUC( HYPERLINK l "_ENREF_2" o "Brooks, 2004 #145" Brooks et al., 2004). International business does not exclude small companies neither does it only occur when a company set up operational base ADDIN EN.CITE Shenkar2004144(Shenkar, 2004)14414417Shenkar, OdedOne More Time: International Business in a Global EconomyJournal of International Business StudiesJournal of International Business Studies161-1713522004Palgrave Macmillan Journals00472506http://www.jstor.org/stable/3875249( HYPERLINK l "_ENREF_7" o "Shenkar, 2004 #144" Shenkar, 2004). The key consideration for

Any company who wants to expand globally and to increase their trade at international must have to face certain challenges related to certain issues such as Economic, political, cultural, and social. The main drivers for expanding the business at international level is increase in the overall growth opportunities rise in the profitability, access to material and human resources and finally innovation.

As the threshold of conducting business in foreign country becomes lower, it has been appealing to turn a local company into a multinational corporation. By leveraging and gathering resources from global platform, company will make leaping progress not only on profit, but also on brand building. However, the moment a company begins to consider paving its way into foreign markets and goes globally, it needs to take into consideration various kinds of transaction expenditure that rose in trading. Therefore, it has been critical for company executives to understand and utilize the Transaction Cost Theory (TCT) in order to find the most suitable method for company to supervise and minimize the transaction costs. Through analysis into TCT, one can have a deep comprehension on the extension of how multinational companies depend on each other, and how to choose between centralized inner supervision (within company) and outer surveillance (market) so as to diminish transaction costs.

With a population of 48 million, South Africa represents 10 per cent of Africa’s population and 45 per cent of the continent’s gross domestic product (GDP). Its GDP is almost as big as the rest of sub-Saharan Africa’s 47 countries combined. As the engine of growth for Africa, South Africa recently has been growing at 5 per cent annually. It is the largest economy in Africa, and is among the top-ten emerging economies. Before 1994, South Africa had been ruled by a white minority government that earned notoriety for its apartheid (racial segregation) policy.

When companies or corporations exceed national lines of the country that their headquarter is in this can be known as going “global,” and a corporation in this situation can be known as a Multinational corporation. This can complicate the ability to manage, due to the diversity of cultures, geographic locations, and many other circumstances that are inherent with these types of corporations. In this occurrence, it is important to have a global mindset. This mindset is simply the ability to appreciate and influence individuals of different cultures, organizations, levels of education, or any other diversity of differences. This mindset deems it necessary for corporations in this situation to have a strategy in developing positive public