Question

Survey how laws, HRM Systems and Culture impact managerial practices for international businesses

Answer 1

Solution:

In international business there is significant changes in the way the business operates as from what it does domestically. This is because with international business comes international regions with different laws and regulations that govern the business operations within that region. This is why it becomes very crucial for the managers to come up with appropriate legal and regulatory framework to support their international business exapnsion. Thus, this is how the laws impact the international business.

Another aspect that affects the iternational business scenario is the HR systems and the culture of the region. These two elements fo hand in hand. The HR systems determine the general HR practices within the organization and various HR policies that are intended for the international business units. Thus, there are definitely differences in the HR policies in domestic and international business operations becaue of different culture and working environment that are present internationally. HEnce, we must first check for the compatibility of the work culture with that of the HR policies to esnure that the international business scenario is well set up for the business.

Hence, this is how the laws, regulations, HRM systems and the culture of the international markets affects the way in which the managers act to ensure they are following the best practices to conduct business internationally and in foreign makets with efficiency and effectiveness.