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Biggest Challenges Facing MNCs in Today’s Economy Essay
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Write My Essay For MeIn your opinion, what are the biggest challenges facing MNC’s in today’s economy and why? Allow for political, technological, and economic challenges.
Multinational corporations are business that operate and deliver their products in more than one country. Multinational corporations are classified into two distinct categories. One, a multinational corporation may have a parent industry based in one country, while having many smaller branches that operate independently, in other countries. On the other hand, a multinational corporation may have many subsidiaries in many countries, but with its headquarters based on a specific country, where all the corporations’ activities are managed from (Sutton, 1975). Multinational corporations make it easier for the corporation to utilize raw materials from different localities to produce their goods at a cheap prize.
Political challenges
Multinational corporation’s subsidiaries are subject to the host countries political environment. The political stability in such a country may adversely affect the organization’s production. In case of political disturbances, the corporation may face repercussions. Furthermore, the political relationship between the country that the parent corporation subsidiary is based, with the host country may affect the productivity of the corporations as well as its operations. Multinational corporations are often subject to political interference (Stopford, 1993).
Economic challenges
As observed earlier, it is notable that multinational corporations are based in different countries. With this in mind, it is noticeable that the corporation may also be affected by the host countries economic situation. Therefore, in case of an economic downturn, the corporation may suffer because of the countries’ economic woes (Casson, 1990).
Technological challenges
This is a common challenge to multinational corporations looking to invest in various countries in the world. Technological advancement is not relative to all the countries around the globe. Although a nation may be a potential investment market, technological advancement may be a challenge for the corporation (Emmot, 1993). For instance, a corporation that intends to invest in developing countries should be well prepared to face technological challenges.
Why is it useful to have an 8-step negotiation model? What are the consequences if a step is skipped?
A good negotiator is aware that in order to be successful, planning is vital. It is important for one to follow specific steps so that each party’s needs are not left unattended (Mills, 2005). It is important for each party to take the process seriously, so that they may end up as the winner. Skipping a step in the process and reaching an agreement early may make a party lose. It is, therefore, important to slowly evaluate the process to ensure that one is successful (Mills, 2005).
Which of the cross-cultural themes discussed in Chapter 4 do you feel is most vital to the success of an MNC and why?
Culture affects how we interact with other people. These are the values and beliefs that one may be held. Thus, understanding one’s cultural background in classrooms is a truly vital aspect for each and every person, since it can have positive or detrimental effects if not dealt with in a good way during employee to employee interaction (Zion & Kozleski, 2005). For every employee, it is also very important that they are at peace with others, and at ease with the working environment as well as those that they interact with during the working process. As a multinational corporation, it is important to treat cultural differences with care.
How should an HR department evolve to match a company’s expansion overseas? Which leadership roles are most important in this scenario?
The HR department is very important in any organization. A successful organization is dependent on a convenient HR department. This department is responsible for the wellbeing of the employees in the organization (Behravesh et al, 1963). For multinational corporations, it is important to reshuffle this department when a branch is opened overseas to ensure that the persons running this department understand the needs of the workers adequately.
Characterize the future of US-based companies desiring to expand overseas within the next 5 years. What political, economic, and technological challenges might those companies face and why? How can they be overcome?
US companies planning to invest overseas in the future may not face as much political, economical, and technological challenges as corporations are facing now. This is because currently, these challenges are being slowly overcome (Casson, 1990). However, the companies may opt to prepare themselves adequately so as to overcome these challenges before investing overseas.
Biggest Challenges Facing MNCs in Today’s Economy Essay
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