Impact Of Management On The Globalization Of Business

Impact of management in the globalization of business Ruth Wills University of the People Abstract The purpose of this paper is to show impact of management in the globalization of business. The following topics are addressed in this paper: 1. Definition of Multi-National Corporation 2. Cultures and Norms 3. Management Style and Culture Shock 4. Management Style of a Multi-National Corporation : Toyota Motors 5. Ethical and Economic challenges faced Multinational Corporation A Multinational corporation is a corporation that does business in two or more countries. It has its home base in its own country, but has branches or subsidiaries in other countries. Their home base is the company’s identity. For example†¦show more content†¦From a management view, global workforce is diversified and unchartered territory since every country, even in the same region, is different. For example, Singapore is in the same region as Malaysia but its labor laws and business norms are different. A modern thinking management must be aware of the cultural differences, customs, geographic needs, governmental trade requirements and even gender biases in some countries. An example of this would be workers in Bangladesh may oppose a female supervisor. Managers also need to understand the customs, policies, politics and history of the foreign country; and the religious practices of a foreign country for example in Brunei or Malaysia the observance of Ramadan and Friday is prayer day. â€Å"Managers interested in venturing into the global market should be aware of the best way to approach global demographics from a business to consumer perspective, taking an international product or service and localizing it successfully.† Source: Boundless. â€Å"The Challenge of Globalization.† (Boundless Management. Boundless, 21 Jul. 2015. Retrieved 09 Sep. 2015 from https://www.boundless.com/management/textbooks/boundless-management-textbook/introduction-to-management-1/current-challenges-in-management-21/the-challenge-of-globalization-133-10568/) Companies such as Toyota Motors, Coca-Cola, Cadburys Chocolate, IBM, Microsoft, and Boeing