Management Of The Globalization Of Business - 1102 Words

Management in the Globalization of Business By Daryle Brown Over the past few decades, the information age has had a major impact on business – one of the biggest being globalization. This has, out of necessity, changed how business is managed – and introduced new and fascinating facets and concerns for business management, as well. We’ll look at a few of them here: multinational corporations, culture shock experienced by managers working abroad, fair trade issues, ethical issues faced by managers in dealing with international business, the difference in managerial styles that can occur between different countries, and the management style of privately held companies in China. Multinational corporations are the big engines of†¦show more content†¦Ã¢â‚¬Å" (Guillen 2016). Managers who go abroad for their company often experience culture shock. It also can have a heavy impact on their families and home life (Psychology Today.) The transfer of managers and families is an big investment for companies, and it’s vital that they succeed in order to both teach successful strategies used by the business of origin, and learn successful strategies being used in their new workplace – helping create harmony in the midst of globalization. Strategies to help managers adapt to culture shock include preparing the employee by making sure they have a good understanding of how culture shock manifests – can take a few months to set in, for example; and perception of coworkers as hostile or even duplicitous may be the result of as yet-unlearned cultural cues being missed (Psychology Today 2014.) A happy social life is the best buffer against culture shock, so now many companies are including the whole family in the interview process – making su re that it’s a good fit for all concerned, not just the employee (Psychology Today 2014.) The premise of fair trade is that there is a price floor