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Write 8 pages with APA style on Main Areas of International Business Where Knowledge of Culture is Crucial for Business Success.
Write 8 pages with APA style on Main Areas of International Business Where Knowledge of Culture is Crucial for Business Success. The paper shows the base for alignment between strategic and operational management, two-way communication system and complete percolation of organizational goals to individual employee goals.
Key to success in multinational business lies in the modeling of business practices according to respective needs, expectations, and perceptions and thus, proper awareness of culture is imperative. The entire expansion efforts of organizations rest on this basic premise. This paper is an endeavor to highlight the importance of cultural studies in multinational business and which areas are impacted by this function.
Not only human resources and strategic management but also the choice of entry and investment location decisions are also guided and facilitated by cultural awareness which this paper tries to address. With the help of theories propounded by renowned researchers in the respective field, insights have been developed to understand their implications in the practical scenario.
A multinational word in itself denotes diversity in the form of values, beliefs, identities, strategies, procedures, innovation, management and others. Individual performances and behaviors cumulate in organizational performance and manipulation of individual organizational behavior results in global business diversity.
When an organization operates on a global platform, its success is measured superficially from its tactics, strategies, market share captured and gaining a competitive edge. But the major driver of success in international business is actually a sound knowledge of cultural variations and compatibility across different markets.
Organizational behavior is attributed to individual personality traits exhibited by employees as a result of their upbringing, shared values, space conception, inter-relationships, and activities. Across cultures, these dimensions variate to a large extent giving way to different viewpoints and acceptance notions which are essential to be understood in the context of .multinational business.
