Globalisation
By their nature, multinational companies have culturally diverse social capital, and need to adopt strategies to maximize the benefit that this capital has to the business. The field of human resource management plays a significant role in unlocking this social capital. Job descriptions and benefits programs provide motivation for employees that fits with their individual and cultural needs, in addition to meeting the needs of the organization. This paper will outline some of the issues with respect to unlocking social capital within the multinational corporation.
Social Capital
Taylor (2007) notes that social capital can be created within organizations. In particular, the relationships within the organization and the relationships that the organization has with external groups and individuals can be critical to success. There are many cultures where social capital is critical to success. The human resources department should be able to understand when crafting job descriptions where social capital is most valuable, and ensure that adequate social capital is part of the hiring process. This could help the organization choose between the talented individual with no social capital, and someone with great connections. The human resources department should strive to include social capital as a skill or asset in a candidate if it wants to improve the overall social capital of the organization.
Globalisation, localisation
Social capital is likely more important under a globalisation or even a glocalisation paradigm. As Merz & Alden (2008) note, globalisation emphasizes the development of a global culture. There is to some extent a global business culture, in particular at higher levels. The key to globalisation for the organization is that at lower levels there is a lot more interaction than there has been in the past. As a result, the globalisation of business culture is beginning to occur throughout all levels of organizations. The idea of glocalisation is that globalisation takes local forms around the world. Applied to business, the natural implication is that there while there…
Multinational Companies and Ethical Theories: Human rights issues in the global supply chain are one of the major challenges that multinational companies face in their operations. While these firms try to support human rights through various initiatives, the also violate these rights through other practices that characterize their operations (Arnold, 2010, p.371). The human rights paradigm has extended to incorporate emerging actors to an extent that the debate on these rights
Still, what has to be mentioned at this state is that the productivity is increased at the level of repetitive team tasks. In other words, when the tasks of the team are less repetitive, when they are new and involve creativity, the productivity of the team decreases. This is explained by the fact that the members in a homogenous team are alike and tend to have the same reaction
Multinational Corporation Expansion; Wal-Mart- to Australia Expanding into an international market is not an easy process, but a rewarding one. As a business executive of Wal-Mart Stores, a U.S.-based multinational company needs to consider expanding to Australia to seek new opportunities. In this case, Wal-Mart will have to begin a new store in the Australian market. The success of the business in this market depends on the market positioning, and other
By 2050, it is projected that only India would be recording growth rates significantly above 3%. Incomes and Demographics By 2050, despite much faster growth, individuals in those countries are still predicted to be poorer than those persons living in any of the now G6 economies . Russia is the exception, essentially catching up with the poorer of the G6 in terms of income per capita by 2050. By 2030, China's
In the 1990s, once globalization had momentum and it was obvious to many observers that "decent work" wasn't the end all in terms of solutions, Munck continues. Is "decent work" just a "backward-looking utopianism" as Waterman (2008) insisted it is? Yes, Munck agrees it is a bit utopian, because its promise is based on "the myth of a golden era of social harmony" and yet, a "decent work" movement could
Globalization and Business Trends How globalization is affecting the political, legal, and economic forces impacting today's business environment Globalization is indeed associated with a lot of interconnectedness of different sectors worldwide. It is affecting the political, legal and economic forces worldwide hence impacting on the day-to-day business environment. Politically, poor nations have become more dependent on decisions being made by rich nations like USA which determines what is legal to be traded and
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now