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Choose one of the three topics below:
- Analyse the effects of globalisation of the marketing function of an MNE. In your opinion, what are the main issues to be considered in developing a successful international marketing strategy? How do organisations overcome these issues to ensure their marketing helps them to achieve their corporate objectives? Explain your answer.
- Analyse the key components in the production strategy of a typical multinational company. Then explain the importance of production strategy to the achievement of sustainable competitive advantage with regard to these key components. Use examples of real organisations and how they achieve this.
- Analyse the role played by human resource management in the successful implementation of a global organisation's international business strategy. What are some of the issues, and how do organisations overcome them? Use real-world examples to support your case.
- Research the topic from the text, suggested readings and your own independent research on the topic. Also choose examples from your own experience or find appropriate cases on the web that you can discuss. Credit will be given for references you make to relevant examples from real companies.
- In formulating your Key Concept Exercise, consider the issues presented in your chosen topic.
By Day 3, submit your Key Concept Exercise.
When writing your responses you should synthesise the theory with real-world experience and use examples of the theories in action in a real organisation about which you have read or one in which you have worked.
Be sure to read over your Key Concept Exercise before submitting it to your Instructor. Make sure the spelling and grammar are correct and the language, citing and referencing you use when providing your opinion are appropriate for academic writing.
Globalization is becoming the normative strategy and trend for many organizations and although not all businesses are impacted equally, it has influenced MNEs in a way that requires adequate and effective human resource management (HRM) capable of global strategies with skills of global managers in achieving success in a highly competitive international marketplace that continuously motivate, and select employee's training and selection (McDonnell, Lavelle, & Gunnigle, 2014).
In today's competitive and diverse market, HRM are challenged with more global issues, such as attracting and retaining overseas employees to meet and execute strategic objectives in an organization. The global operations need global HRM, which includes outsourcing and strategic management of such resources of skills, values, talent, customs etc. (Sparrow, 2007). The HRM is responsible for staffing the organization and managing people by providing the best possible training to meet corporate strategies as well as achieve its international business objectives and goals (Dabic, Gonza´lez-Loureiro, & Harvey, 2015). Furthermore, HRM involves recruiting the most appropriate executives, giving them motivations and rewards in order to ensure their loyalty and commitment (Rugman & Collinson, 2012).
Some of the issues related to global international business in an organization includes the lack of qualified and appropriate managers. Rovai (2010), state that there is 'an insufficient suitable pool of talents' in China that are not properly trained or have the necessary human skills to take on management roles in MNEs, this is partly contributed to the education system in China, however, with the introduction of FDI, a new generation of Chinese are being trained on Western culture, values and diversity which will help with creating diverse global managers. Another challenge that MNEs face when recruiting global managers position might be lack of managerial mobility, which is not always available locally. However, Sparrow (2007), postulate that the increase of international mobility by expatriates plays a significant role in overseas companies, they bring special skills and talents, as well as knowledge transfer for technology and knowledge exchange from the home and subsidiary office whether it be short-term or long-term assignments, this approach helps meet business strategies.
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