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Challenges Managers Face Essay

945 words - 4 pages

Over the last few decades, the process of globalization has created unprecedented opportunities for global business investment and trade. Many multinational companies are attempting to expand their business internationalConducting a business is not an easy task. There are abundant of matters that have to be taken account into while managing a business and challengers that managers encounter in the process. Let's look at 5 challengers that managers are constantly facing. First and foremost, culture is one of the biggest challengers managers are encountering. Different countries have different cultures for instance, in Mediterranean European countries, Latin America and Sub Saharan Africa, it is normal, or at least widely tolerated, to arrive half an hour late for a dinner invitation, whereas in Germany and Switzerland this would be extremely rude.Culture determines the habits, holidays, behaviours and consumer preferences of every society. Therefore, while executing business strategies in foreign countries, managers should consider and study all the cultural characteristics of the targeted society. For example, Upjohn Company of the United States and Pharmacia AB of Sweden (with operations in Italy) are two pharmaceutical firms which merged in 1995. However, most of the month of July Sweden takes off for their annual vacation and Italians took off for most of the month of August for their annual vacation. US executives scheduled meetings in the summer only to have to cancel many because their European counterparts were at the beach. . As the more dominant US firm began to impose its way of doing things on the newly acquired European organizations, international relationships became increasingly strained. Neither the Swedes nor the Italians were happy with impositions such as the drug and alcohol testing policy brought in by Upjohn, or the office smoking ban. These clashed with local ways of doing things and the more informal work environment that these cultures prefer. According to………. 33.1% companies face culture barriers.Just like culture, language is also a major problem that majority of managers run into. Various countries have various languages and even though English is the universal language, not everyone is familiar with it. According to a study, it is believed that 70% of the world's population does not speak English as their first or second language. According to a new report by the Economist Intelligence Unit - a business research unit of the Economist magazine - nearly half of the 572 senior executives interviewed admitted that misunderstandings and "messages lost in translation" have halted major international business deals for their companies. And 64 percent of them said poor communication skills have negatively affected their plans to expand internationally. An example of language as a barrier can be seen by Germany's Daimler-Benz AG and the American Chrysler Corporation, which merger in 1998. The different...

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