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Hello, I am looking for someone to write an article on Cross-cultural Management at Moet Hennessy. It needs to be at least 2500 words.
Hello, I am looking for someone to write an article on Cross-cultural Management at Moet Hennessy. It needs to be at least 2500 words. Though the 60 subsidiaries deal in different products, the company's operations are limited to 5 different sectors which are wines and spirits, selective retailing, fashion and leather goods, watches and jewelry and perfumes and cosmetics.
Because of LVMH’s strong and strategic brand development strategy, LVMH has managed to successfully expand its global retail networks, for which there are 3,000 LVMH stores distributed across the entire globe. It is because of these strategic development strategies that have enabled LVMH to grow since its inception in 1987. Apart from the 3,000 stores to LVMH’s name, the organization presently prides itself of 110,000 employees. 81% of these employees are based outside France but share in the LVMH’s values. LVMH also uses culture, humanitarian action, and heritage as a way of extending itself into the rest of the world.
According to Enriques and Volpin, (2007, p. 130), despite numerous efforts that LVMH has expended to penetrate the market, there are serious impediments that it faces. One of the impediments is competence. Entering foreign markets means penetrating different geopolitical entities. These geopolitical entities have different cultures and rates of socioeconomic and political development. This means that educational levels and levels of competence may greatly vary. The import of this is that LVMH has always had to contend with human resources that do not have adequate international skills and competence. Apart from the failure to possess managerial competence among international human resources, LVMH has had to seriously contend with language barriers and insufficient knowledge of international markets. The crux of the matter herein is that a global manager needs proper training and experience in managing multicultural and multilingual environments to help a particular LVMH chapter in a specific market. .
