1/42
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced |
---|
No study sessions yet.
What is Globalization?
The trend of increasing interaction between people on a worldwide scale because of advances in transportation and communication technology.
What is PESTLE?
PESTLE is a framework used to analyze the external environment affecting an organization, focusing on Political, Economic, Social, Technological, Legal, and Environmental factors.
Demographic Dichotomy
The workforce in emerging economics is becoming disproportionately young, while the workforce in developed economies is rapidly aging.
Reverse Innovation
Innovations created for or by emerging-economy markets and then imported by developed-economy markets suggests that the “new” economics will have a greater influence over world economics because they are settling their innovations to market in developed countries also.
Hyperconnectivity
a state of unified communications (UC) in which the traffic capacity and bandwidth a network always exceeds the demand.
Hyperconnectivity refers to a state in which individuals and organizations are always connected through digital communication tools, leading to an environment where information flows rapidly and easily across networks.
Outsourcing
The transfer of some work to organizations outside the employer’s payroll. The vendor may be across the street or across the country.
Offshoring
The transfer of some work to locations outside the home country borders. Those doing the work are still on your organizations payroll
Onshoring
The relocation of business processes or production to a lower-cost location inside the same country as the business.
Near-shoring
Contracting part of the business processes or production to an external company location in a country that is relavitely close. Such as Mexico and Canada.
What are the 4 critical parts an HR professional plays in supporting the decision-making efforts of moving work from one location to another.
Talent Pool: Languages spoken, cultural difference, educational levels.
Sociopolitical Enviroment: Government regulations + Expense to follow them .Quality of life and ethical enviroment.
Risk Levels: IT security, political and labor conflicts, natural disasters, and security for individuals and property.
Cost and Quality: Wage structure, tax structure, communication facilities, Internet.
What is a “Global Organization” / Multinational Company
A business that operates in two or more countries.
Global HR and Talent Management
is the second most urgent and important trend for companies around the world with 10,0000 or more employees.
Effective global program recruit, train, and develop people locally or globally?
Locally. Strategize globally, implement locally.
Guarded Globalization
Governments of developing nations have become wary of opening more industries to multinational companies and are zealously protecting local interests.
“Push” Factors for globalization
Saturation of domestic demand and need for new markets.
Shortfalls in natural resources and talent supply
Trade Agreements
Technological Revolution
Globalized supply chain
Domestic recession
Government policies and regulations
Improving the image of a country
Strategic vision
“Pull” Factors for globalization
Government policies
Strategic COntrol
Taking Advantage of Growth Opportunities
Declining trade and investment barriers
Green Field (Global Stratgy)
Creating a new organizational in a foreign country
Turnkey (Global Stragety)
Acquiring a subsidiary in a foreign country, perhaps through merger or aquisition.
Brown Field
Repurposing a disused facility.
What is a key decision between becoming global?
Weighing Global Integration (GI) vs local responsiveness (LR).
What is local responsiveness?
the ability to adapt to the needs, desires, and habits of the local marks.
Local responsiveness is achieved by delegating most of the decision-making responsibility to local units and by appointing a local manager to the top management teams.
What is Global Integration?
the standardization of processes to achieve greater economies of scale.
Achieving Global integration means the decisions are made from a global perspective, and insome cases, the firm operations as if the world were one market.
International Strategy
All products/services at all levels are developed in the home country, even if the organization might export products to other countries.
Multi domestic Strategy
Headquarters has little influence over remote subsidiary units. They develop their own goals and strategies
Global Strategy
Headquarters develops and disseminates strategies, products, and services. All offerings are the same worldwide. Local entities hardly influence the global image or products.
Transnational Strategy
Remote locations are chosen for their access to supplies, vendors, and local markers. Subsidiaries are permitted to make adaptations to global products for appeal to local markets. Knowledge and practices are shared among all units in the organizations.
Perlmutter’s EPRG Model
A way of classifying alternative global management orientations. Global Businesses and staff tend to operate in 4 ways: Ethnocentric, Polycentric, Regiocentric, Geocentric.
Ethnocentric (Permutter’s EPRG Model)
People/Companies who believe their home country is superior. “We know best” attitude.
Polycentric(Permutter’s EPRG Model)
A polycentric orientation sees each country as unique and believes businesses are best run locally.
Country-by-country approach and each country is virtually left alone by headquarters
Regiocentric (Permutter’s EPRG Model)
People/companies see similiarities in large geographic regions and design strategies around this - as opposed to county-by-country
Geocentric
People/Companies who view the world as a potential market and seek to serve it effectively. similarities and differences between headquarters country and other countries. Combines ethnocentric and polycentric views. “Think Global; Act Local”.
When is it advisable to have an audit of global HR practices?
When received a lawsuit, a merger or acquisition, or corporate restructuring.
5 Steps for Developing a Multicultural Mindset
Recognize your own cultural values/biases
Get to know your personality traits, especially curiosity.
Learn about the worklplace and business expectaitions of the relevant countires and markets
Build strong intercultural relationships
Develop strategies to adjust and flex your style. (pg388)
5 Types of Corporate Culture
Team First corporate Culture: Companies hire for cultural fit first - skills and experience second.
Elite Corporate Culture: Cultures out to change the world by untested means. Hire the best of the best.
Horizontal Corporate Culture: A collaborative, everybody pitches in culture. Titles mean little.
Conventional Corporate Culture: Clearly defined heiarchies and still learning to communicate/manage through new ways.
Progressive Corporate Culture: Uncertainty is a definitive trait. Often a result of merger and aquitisions.
Shein’s Model
American professor who split organizational culture into 3 level.
1) Artifacts and symbols, 2) Espoused Values 3) Basic Underlying Assumptions.
What are Social Scientist Geert Hofstede’s 6 unique cultural dimensions that can be seen everywhere? (cultures are ranked on a scale of 1-100 for each dimension).
Power Distance
Individual vs Collectivism
Masculinity vs feminitity
Uncertainty Avoidance
Long-Term Orientation vs shrot-term orientation
Indulgence vs restraint
(pg 390)
Hall’s Theory
High and Low Context Cultures. Related to indirect and direct communication.
High Context Culture (Hall’s Theory)
Cultures that need explicit communication due to the participants not knowing one another in depth.
Low Context Culture (Hall’s Theory)
Cultures that can use more indirect forms of communication since the participants know each other well.
3 general practices to managing expats effectiely
When making international assignments, they focus on knowledge creation and developing global leadership. (not to reward, fill a quite business need, ro get people out of the way).
They assign overseas posts to people who technical skills are matched or exceeded by their cross-cultural abilities.
They end expatriates assignments with a deliberate repatriation process.
What steps can a manager take to minimize the risk of assigning an expatriate?
Selecting the right person
Preparing the expat and their family
measuring the employee’s performance
a repatriating the individual at the end of the assignment.
What does a balanced scorecard measure?
Accountability measures, employee satisfaction, employee retention, and TQM