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Lecture 7

ADM2337 Lecture 7: Untitled7

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Catherine Elliott

MC Multinational Corporation a. firm with independent business units operating in multiple countries (foreign subsidiaries) Glothat bal corporation: a. firm that has integrated worldwide operations through a centralized home office, see the whole worlds as their marker Transnational corporation a. firm that attempts to balance local responsiveness and global scale via a network of specialized operating units, most global, BEST AT BEING EFFICIENT WHILE MATCHING GLOBAL RESPONSIVENESS Managing your international opperations: a. staffing internationally: expatriates, or home country nationals —> employees from the home country on international assignment (e.g, embassy) b. host country nationals —> employees who are native of the host country c. third country nationals —> employees who are natives of a country other than the home country or the host country Recruiting internationally: we need to consider…work permit or visa, guest workers, apprentices, transnational teams Selecting employees internationally: -> selecting employees in a foreign country environment can be difficult -> get to know the local market and customs in hiring —> get to know the schools and universities, develop networks, understand the employees of the firms competitors training and development: —> essential training program content to prepare employees for working internationally —> e.g, language and cultural training, managing personal and family life, tracking career development, repatriation Compensation: General rule = match the rewards to the values of the local culture —> create a pay plan that supports the overall strategic intent of the organization but provides enough flexibility to customize particular policies and programs to meet the needs of the employees of specific locations Compensation of host country employees: global compensation system = a centralized pay system whereby host country employees are offered a full range of training programs, benefits and pay comparable with a firms domestic employees but adjusted for local differences Compensation of expatriate managers: home based pay = pay based on an expatriates home country compensation practices balance-sheet approach = a compensation system designed to match the purchasing power in a persons home country 1. calculate base
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