Question

In: Operations Management

In most cases, local managerial approaches must be modified for doing business overseas. What are three...

In most cases, local managerial approaches must be modified for doing business overseas. What are three specific examples that support this statement?

Solutions

Expert Solution

We can see clearly that a business environment changes when a company decides to take their business overseas as well. The reasons for the change in management style can be contributed to being:-

1. Presence of diversity, which is a major factor when we consider a globalized workforce. Diversity requires a different approach as far as management goes and therefore, we can say that there would be a change in the domestic management style.

2. Cultural differences, which are seen between the different market from the home country. We can say that a cultural change would require a different form of management and as a result, changes would be brought to the management style.

3. Factors such as political and economic differences, which are relevant for any business to understand requires a change in the approach of the management and as a result. The changes are brought due to the nature of the difference between the two countries, political climate, buying potential of the consumer and the general economy of the country.


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