Understanding The Connection Between Information And Learning And Universal Business Improvement

In addition to worldwide learning, how to manage knowledge is also a key to multinational corporations’ success (Bartlett

China, indeed, was successful in pursuing foreigners to invest in their country; thus the rise of joint-owned ventures and multinational corporations or MNCs. Soon enough, China’s business industry was dominated mostly by multinational corporations. Through the establishment of MNCs, a lot of employment were created. Alongside MNCs however, are pressing controversial issues involving violation of human rights, labor code, and country policies as well as its involvement in environmental degradation.

As organizations all over the world continue to expand, it is important to understand how some of those changes will affect our small companies or large businesses. Every single one of us has have grown up differently in some sort of way, and while we all have different backgrounds, most of us that grow up in the same general region have the same type of knowledge of the world around us as a whole. It is important to remember that while we have some type of knowledge of this, it isn’t the same as really understanding a different culture and how Globalization plays such a huge role.

Challenge of Globalization W. L. GORE & ASSOCIATE had been expending their business in more than 30 over country; there are Asia Pacific, Europe and the Middle East, Central America, North America and South America, leading manufacturer of thousands of advanced technology products for the electronics, industrial, fabrics and medical markets. With the employees of 9.500 people around the world, managing the people also bring along the trouble as well. With the diversity of culture, people, background, language and norms, challenges and problems occur within the company and beyond the boundaries of the company. This is the major problems that will occur when a company goes global and expanding to the world. This challenge of globalization

Globalization of business has had a large impact on the field of management. Those seeking management roles in large, multinational corporations must have a different set of skills than in previous generations. In his article “Globalization on the Homefront”, Harold Torrence (n.d.) wrote, “As a direct result [of globalization], management teams are racing to develop the skills and competencies needed to comprehend and appreciate an onslaught of values, assumptions, beliefs and traditions that are fundamentally different from their own.”

In the current era of globalization, the new economic and political reforms has made it evident and clear that leaders of organization not only need to build trans- global competence, but there is also a need to build cross cultural competence. Cross- cultural competences is known to be enhancement of flexibility and awareness for having the capability and ability for thriving and surviving across the global era as a business organizations (Jonsen, 2010).

Due to the large increase in globalization, many organizations relay on international business for competitive advantages. However, offshoring a business has never been easy especially if there are a lot of cultural, environmental and economical differences. China’s opening up to the world has not only made China’s economy stronger but it has also given many advantages to the outside world as well. Some of those advantages include cheap labor cost, risk sharing, economies of scale and less operational cost but to achieve these advantages it may takes plenty of time to observe new location, cultural training, and understanding of international business. As written in the article, “Red China, Red Tape: How to Start a Business There,” China

China’s thicket of regulations has been cut back and the rules that remain have gradually become more institutionalized. The picture that characterized much of the 1980s and 1990s—everyone from multinational managers to Chinese officials groping their way forward, often making things up as they went along—is no longer representative of the business environment. Foreign firms in different sectors have greater understanding of the

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).

Version 2015-02-09 Academic Year 2014-2015 Course unit Title: Multinational Management Course unit code: BMAN 70012 Credit Rating: 15 credits 1 Instructors Contact details Umair.Choksy@mbs.ac.uk Room: MBS East F3 Office hours: by arrangement Noemi.Sinkovics@mbs.ac.uk www.manchester.ac.uk/research/noemi.sinkovics Phone: (0161) 275 6492 Room: MBS East F11 Office hours: by arrangement

The world has become hugely interconnected over the last couple of year. With globalization being the preferred mode of operation for many businesses, the world has become borderless. Developments made in the field of information communication technology have also played a key role in helping bridge the gap that exists between people from different regions of the world. Thus, the world has become more interconnected with a lot of intercultural sharing. These developments have made it easier for businesses to penetrate and dominate foreign markets. In their videos on Ted talk, both Peter Alfandary and James Sun argue that there is a need for people to try to learn about other cultures as this enhances relation and understanding among people. The paper presents an analysis of existing research and current trends that reiterate or disapprove the views held by these narrators. It seeks to show that though globalization has taken root in today’s world, there is a need to take an interest in learning other cultures as this will ensure a better understand especially when doing business.

INTERNATIONAL MANAGEMENT: CULTURE, STRATEGY, AND BEHAVIOR, EIGHTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited

Conclusion: Foreign firms do face various obstacles in entering the Chinese market, however they can be overcome if the right levels of research is carried out and they come to terms with the differences in business structure and social environment.

The objective of MNC to operate in other countries is to gain competitive advantage through several ways. Firstly, MNC is able to take advantage of difference in country-specific circumstances. For example, MNC may choose to locate its productions in less developed country like Vietnam to gain cheap labor cost. Secondly,

Information will always be a big factor in the business industry. Those who knows more will have advantage on others, and those who hide information takes advantage of the situation to exploit. This uneven proportion of information, or asymmetric information has been a problem in many industries for sustaining efficient operations and for customers to acquire products or services at a reasonable cost. One of the industries that have been combating this information war is the “insurance market”. Information is just another resource, but as any other resources it has a cost. Information plays a big role when companies makes decisions. Therefore, information must be accurate and from credible sources. But, at the same time this accuracy and credibility should be from customers to the insurance companies. It is normal for a company to profit and a customer to get more for the money, but both side constantly trying to have the advantage could end in market failure. This causes information and the “insurance market” to lose its purpose of both benefiting from each other or in proper economic terms, perfect information.