- Subject index
The Handbook of 21st Century Management provides authoritative insight into the key issues for students in college or corporate courses with a particular emphasis on the current structure of the topic in the literature, key threads of discussion and research on the topic, and emerging trends. This resource is useful in structuring exciting and meaningful papers and presentations and assists readers in deciding on management areas to take elective coursework in or to orient themselves towards for a career. Indeed, familiarity with many of the topics in this Handbook would be very useful in job interviews for positions in business.
Chapter 37: Culture-Sensitive Global Strategies
Culture-Sensitive Global Strategies
In this era of globalization, more companies than ever engage in multinational transactions, cross-border trade, international joint ventures, and mergers and acquisitions. They seek competitive advantage by accessing locations, facilities, and customers in different countries and by coordinating activities in the value chain across national borders. While economic considerations create a basis for strategic decision making when determining where, in which countries to locate research, manufacturing, supply chains, or distribution, they are not sufficient for sustainable international growth of a firm. The nature of globalization dictates additional considerations when designing and implementing corporate strategies, namely the cultural environments in different countries. If a company understands national cultures, it can increase local responsiveness to customer needs, strengthen relations with stakeholders in ...