Management Issues Facing Global Managers as We Enter the 21st Century Essay Example
Introduction
The 21st century global manager faces many challenges as the norm become having business interest in other countries. When managers of companies decide to enter the foreign market there are a lot of things to take into consideration. Sure the money is great! However, if money is the only thing that is driving you to expand into a foreign market, you will surely fail. There are several factors that a manager should consider before deciding to expand their product or service into foreign markets. Among these are the cultural differences you will be faced with, the differences in language of the countries, the challenges your employees will face as they return from foreign job assignments, and the know how, to develop and assist your employees, who take foreign assignments, in keeping their skills up to date while in these underdeveloped countries. Without the right tools and knowledge, the 21st century manager¡¦s task ahead will be extremely difficult. We will begin by discussing Culture. Culture is important and has to be appreciated by the business manager. It can make or break a relationship and could possibly lose your company millions. Consider the differences between cultural imperatives, cultural electives, and cultural exclusives in another country. Before a manager decides to do business in a foreign country, they should find out what these consist of. Cultural imperatives are the things that you must do to keep from offending others. Cultural electives are things you may participate in, but you do not absolutely have too. Participation in a cultural elective could seriously help the business deal you are trying to close though. Lastly, cultural exclusives are things that you should not participate in no matter what the circumstances are. Global managers of the 21st century must also gain knowledge of the other countries¡¦ management style. This consists of how their country conducts business and the methods they use to accomplish
The 21st century global manager faces many challenges as the norm become having business interest in other countries. When managers of companies decide to enter the foreign market there are a lot of things to take into consideration. Sure the money is great! However, if money is the only thing that is driving you to expand into a foreign market, you will surely fail. There are several factors that a manager should consider before deciding to expand their product or service into foreign markets. Among these are the cultural differences you will be faced with, the differences in language of the countries, the challenges your employees will face as they return from foreign job assignments, and the know how, to develop and assist your employees, who take foreign assignments, in keeping their skills up to date while in these underdeveloped countries. Without the right tools and knowledge, the 21st century manager¡¦s task ahead will be extremely difficult. We will begin by discussing Culture. Culture is important and has to be appreciated by the business manager. It can make or break a relationship and could possibly lose your company millions. Consider the differences between cultural imperatives, cultural electives, and cultural exclusives in another country. Before a manager decides to do business in a foreign country, they should find out what these consist of. Cultural imperatives are the things that you must do to keep from offending others. Cultural electives are things you may participate in, but you do not absolutely have too. Participation in a cultural elective could seriously help the business deal you are trying to close though. Lastly, cultural exclusives are things that you should not participate in no matter what the circumstances are. Global managers of the 21st century must also gain knowledge of the other countries¡¦ management style. This consists of how their country conducts business and the methods they use to accomplish