Transforming Internal Governance: The Challenge For Multinationals

804 words - 4 pages

The essential skills a manager of a multinational company needs to operate in multicultural environments are effectively highlighted in Oosterveld and Prahalad’s Article Transforming Internal Governance. They address the challenges of multinational organizations in emerging countries and the difficulty that managers have in leading their organizations from the traditional to the innovative. They believe that part of the struggle is due to the rate of change in emerging environments is much faster than the speed that management are able to adapt. The article postulates that traditional processes slow or hinder changes not innovative technology or budget constraints. They believe that ...view middle of the document...

Companies and staff can no longer rely only on themselves but will need to form strategic partnerships without jeopardizing proprietary information. And finally, managers will have to be judicial with resources and multitasking capabilities. Continuing existing business lines while trying to conduct new business, adjust for unknowns and be flexible to market variances.
The article discusses the problem multinationals managers face given that decision makers are likely promoted from within and has been indoctrinated into the same corporate philosophy. Also, their cohorts are other managers whom they are trying to sway into new thought processes and that the age of upper management, due to years of working their way up, hinder them from being hip to new styles, desires and technology. Decision makers may get burned out and fail to continue to innovate and stay ahead of the market when things settle into a profitable time.
Oosterveld and Prahalad suggest changing an established multinational managerial mindset by first putting down on paper the agenda for the firm’s strategic and social architecture, thereby heading off those that would shy away from new lines of thinking. Secondly, management will need to battle inertia by initiating change in a big way such as reorganizing product lines, personnel or the company itself. Then finally, multinationals must realign the strategy and goals in the new direction making sure every employee from the ground up has knowledge and buys into the new direction. As with anything, to be...

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