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Business Economics Essay

913 words - 4 pages

Organizations face many challenges when considering expanding their business globally. Each country got its own economical and legal rules and regulations that a business needs to conform to. Not only do they need to consider the opportunity cost and benefits that may be comes with operating in an international market, they need to understand the risk as well. It is important for ABC Complete Kitchen Inc. executive team to assess and all economic and legal factors that can influence its new plant, then incorporate economic and legal considerations into its operations plan to avoid any risk of obtaining credit, reliable market conditions, or product liability issues.
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MNEs have three types of executive which are: locals, individuals within the countries of operations, and expatriates. Expatriates are employees that the organization transfers from its domestic headquarter to live and work in its new international firm (Edition, 2011). To avoid overseas cost and weep the rewards of doing business overseas, it is better to prepare ahead of time which may takes time to find the right person. Once an expatriate is elected, they need acquire to develop the highest skills such as, “richer management repertoires”, learn the cultural background, change their over mindset, “managing career progression”, new languages, and “preparing for living outs to be learning a new language” (Edition, 2011, p. 685).
One of the most important skills is learning a new language to being able to communicate proficiently. One cannot just speak a language they also need to understand it. According to Ariana and Mirabela (2013) “To speak and understand a language means - among many other things knowing the words of that language. The average speaker knows, hears, understands and uses thousands of words daily” (p. 403). Many executive run into issue such as communication barriers, shady company procedures, callous surroundings that make them refuse to stay any longer than they have too.
Originally use expatriate to middle age executives that were trained to more intense tasks. These future administrative teams, where seen as the steeping-stones for global projects. Now firms are considering older individuals “whose children have grown and whose partners may be more willing to move, or younger employees who are single, more mobile, and less resistant to change (Edition, 2011, p. 690). Women are steadily filling some of these positions. Globalization is changing at a steady pace in order to keep up with the changes to stay competitive so are the MNE are...

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