GLOBAL Companies

Global companies are companies that are able to compete with anyone, anywhere, at any time. In most cases, they conduct business on a global scale, and their products are sold in all major markets in the world, creating extensive global activities through an integrated national market. Diversification of economic activities enables global companies an easier access to international markets, large scale economies, access to cheap raw materials, the skipping of tariff barriers, and thereby gain a competitive advantage.

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Factors of Competitive Advantages of Global Organizations

=o become a global organi&ation, companies must be accompanied by a large number of dimensions that create competitive advantage. #ome of the key pillars that form the basis of competitive advantages of global organi&ations include: >ocusing on consumer *ontinuous improvement, 2se of flexible or virtual organi&ations, *reative ?uman ,esources, : climate of e-uality, =echnical support, @penness, #elfAefficiency and *ultural understanding. BC Focusing on customers: Global organi&ations are focused on consumers. =hey made the identification of internal and external customers in order to determine the best ways to provide services to this target group. Dith this work, global organi&ations strive for hori&ontal organi&ational structure in order to be closer to customers. =heir goal is focused on meeting customer needs and creating links with them, considering that during operation there is always the creation of new demands for more sophisticated products and services. Global consumer has no prejudice, he has layered needs, clear preferences and enhanced sensitivity to the manner and -uality to satisfy their needs. /C Permanent trainings/Continuous Improvement: =he second feature of the global competitiveness of organi&ations is their commitment to continuous, rapid, efficient and effective training. (ermanent changes in the environment re-uire the employees and organi&ation of continuous learning, change and adaptation. 'ifelong learning and the dissemination of knowledge in todayEs business environment is becoming a lifeline for the individual and their primary needs, and for global organi&ation of important competitive advantage. FC !e use of fle"ible or virtual organizations: =his characteristic of global companies is the use of flexible or virtual organi&ations. Girtual organi&ation is one that is capable of leading the work, such as large companies that have numerous benefits, but in fact is a lot smaller. In the coming years, a growing number of global organi&ations will rely on global sourcing, that would provide materials and products that were once produced in their box. :s a result of this, organi&ations can operate as a large company, even if they are in fact small, and you depend on partners and global resources through which you satisfy their needs. HGlobal #ourcesH means the use of suppliers around the world, regardless of where they are, all in order to provide the desired product.

8C Creative !uman resources: ?uman resources are an important element of a modern organi&ation. In contemporary conditions, the success of the organi&ation depends primarily on people. #ince people with knowledge and behaviour are the main factor for the success of organi&ations, leadership becomes the most important function and task of the management. 'eadership seeks to motivate and direct individuals in the right direction. @n the other hand, the growth and development of the organi&ation align with the vision, in order to achieve the best position in the global market. @f all the skills and abilities necessary to learn, creativity is the most widely recogni&ed and preferred. =here are two essential aspects of creativity that are essential to effective learning: personal flexibility and willingness to take risks. Global organi&ations foster and promote both. %C Climate of e#ualit$: Global organi&ation creates a climate of e-uality in which all employees, customers, owners, suppliers and communities are treated with respect and dignity. =he creation of such environment in different organi&ations is approached in a variety of ways. >or example, each member of the companyEs HDalAIartH is a kind of coAworker, so there are no subordinates. ,elationship with our clients in the chain of H,it&A*hartlonH hotels is so arranged that when a guest asked where to find a place in the hotel, an assistant would interrupt their work, whatever they were doing, and become a personal guide to the guests to the re-uired places. :nother sign of e-uality approaches is the way the global organi&ation treats its suppliers. In the past, organi&ations would negotiate with suppliers and fight each other in order to achieve the lowest possible price. In case of e-uality approaches, this strategy was abandoned in favor of e-uality approaches in which the supply side is viewed as an integral part of the team. 9C ec!nical support: Global organi&ations are increasingly becoming less connected to a specific location, their jobs are permanently spread around the world, so that the coordination of the activities is carried out with the technological support that enables faster and more flexible interaction. =he development of information technology greatly facilitates the coordination of remote operation and use of the internet is increasingly becoming a powerful means of expanding global operations. =echnologies change people, nature of economic relations and the effectiveness of individual organi&ations. =hey serve to those who know how to overcome them, and are used as a competitive advantage, and destroy the economic entities that are slow in their use and recognition of the benefits that this process brings. 5ew technologies contribute to increasing competitiveness in the global market, both by improving the -uality and design, and on the basis of cost cuts and price. =he transfer of technological knowledge is a crucial advantage of global organi&ations, and their strength is reflected in the ability to use high technology. $C Openness: If the organi&ation is viewed as a whole made up of several interconnected parts, it is often emphasi&ed that there is a link with the environment and that it is open to its influences. Global organi&ations are not only ready to accept new trends. =hey are encouraging indications of change. Instead of fighting change, they learn how to adapt, how to create and draw profit from them. In this sense, they emphasi&e the need for understanding and applying concepts of openness to different cultures. =heir managers empower associates, simplify the structure and are flexible on all issues. JC %elf&efficienc$: #elfAefficiency involves confidence and belief in their individual capacity, resources and ways of action that are needed to successfully achieve a task. 6efore selecting their choices and start running, employees want to measure, evaluate and integrate information about their abilities. In this sense, it is important that global organi&ations can promote and develop selfAefficiency, to take advantage of a positive impact on the performance of the activities of employees and the achievement of competitiveness. =here is a number of specific ways in which selfAefficiency can be developed Keg assurance that employees will experience success, verbal persuasion, or training by learning through othersC, but global organi&ations also use the more general approach to creating a climate or culture that teaches and promotes selfA awareness and active troubleshooting. #elfAconsciousness arises from a clear organi&ational vision that provides direction in relation to the critical choices and provides feedback on the results of a response. 6asically, the staffs are taught to actively seek information about the impact their behaviour has on others and on things that matter to others, in order to maximi&e their own efficiency. LC Cultural understanding: It is generally accepted that the culture of a society represents its shared values, understanding, assumptions and goals that are transmitted from generation to generation. =hese are the

common attitudes, behaviours and expectations, which are subconsciously run and controlled by certain norms of behaviour. : person is born in a given culture, not with it, and is built up through a process of sociali&ation. *ultures resulted in a life basis, based on mutual communications, standards, F/7 codes of conduct or expectations. @ver time, cultures have evolved along with society adapting to changes in external or internal environment.
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'ifferences bet(een International Compan$ and 'omestic Compan$ is:

Basic: Domestic company is the exchange of goods, services, or both within the confines of a national territory. =hey are always aimed at a single market. It always deal with only one set of competitive, economic. International company exchange of capital, goods, and services across nations is called International =rade. It is always a major source of economic revenue for any nation and in absence of the same nations. %cope: #cope of international company is -uite wide. It includes not only merchandise exports, but also trade in services, licensing and franchising as well as foreign investments. Domestic company pertains to a limited territory. =hough the firm has many business establishments in different locations all the trading activities are inside a single boundary. Benefits: International company benefits both the nations and firms. Domestic company have lesser benefits when compared to the former. o t!e nations: =hrough international company nations gain by way of earning foreign exchange, more efficient use of domestic resources, greater prospects of growth and creation of employment opportunities. Domestic company as it is conducted locally there would be no much involvement of foreign currency. It can create employment opportunities too and the most important part is business since carried locally and always dealt with local resources the perfection in utilisation of the same resources would obviously reap the benefits. o t!e firms: =he advantages to the firms carrying business globally include prospects for higher profits, greater utili&ation of production capacities, way out to intense competition in domestic market and improved business vision. (rofits in domestic trade are always lesser when compared to the profits of the firms dealing transactions globally. )ar*et Fluctuations: >irms conducting trade internationally can withstand these situations and huge losses as their operations are wide spread. =hough they face losses in one area they may get profits in other areas, this provides for stabili&ing during seasonal market fluctuations. >irms carrying business locally have to face this situation which results in low profits and in some cases losses too. )odes of entr$: : firm desirous of entering into international company has several options available to it. =hese range from exporting importing to contract manufacturing abroad, licensing and franchising, joint ventures and setting up wholly owned subsidiaries abroad. ;ach entry mode has its own advantages and disadvantages which the firm needs to take into account while deciding as to which mode of entry it should prefer. >irms going for domestic trade does have the options but not too many as the former one. =o establish business internationally firms initially have to complete many formalities which obviously is a tedious task. 6ut to start a business locally the process is always an easy task. It doesnMt re-uire to process any difficult formalities. %!aring of ec!nolog$: International company provides for sharing of the latest technology that is innovated in various firms across the globe which in conse-uence will improve the mode and -uality of their production. Political relations: International company obviously improve the political relations among the nations which gives rise to *rossAnational cooperation and agreements. 5ations coAoperate more on transactional issues. :n international company is a business whose activities are carried out across national borders. =his differs from a domestic company is a business whose activities are carried out within the borders of its geographical

location. : domestic company is one that confines its activities to the local market, be it city, state, or the country it is in. It deals, generally, with one currency, local customs and cultures, business laws of commerce, taxes and products and services of a local nature. =he international company, on the other hand deals with businesses and governments in one or more foreign countries and is subject to treaties, tariffs. currency rates of exchange, politics, cultural differences, taxes, fees, and penalties of each country it is doing business in. It may also be conducting business in itMs home country, but the emphasis is on trading in the international marketplace.
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,eality shock is defined as the shock like reaction of new workers when they find themselves in a work situation for which they have spent several years preparing for and for which they thought they were going to be prepared, and then they suddenly reali&e that they are not.

%tages of +ealit$ %!oc*

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Dhen you were first hired at your current job, or when you transferred to another department or unit, you likely had feelings of excitement and anticipation surrounding your new position. )ou were also probably thrilled, maybe grateful, to get hired. (erhaps you had just completed extensive education and or training to be -ualified for this new position. )ou probably had butterflies before starting your new job, but enthusiastically jumped out of bed on your first day or so. )ou may have been excited about the process of getting your ID badge, to learn where to park, where to eat, your way around the facility and to meet new coAworkers. )ou may even have dreamed of really making a difference. During this initial period of employment, there is often an orientation period, probably one involving the total healthcare facility, to provide the information you need to function effectively in the organi&ation. It may have familiari&ed you with such things as the mission, purpose and goals of the facility, as well as safety issues. =here also was likely a unit and or positionAspecific orientation. @ften new employees will be assigned a preceptor, a mentor or buddy. It may also be a more informal relationship, where an experienced employee takes a new employee Nunder their wing.O ,emember, new employees, no matter their age or experience, often feel overwhelmed with all the new information, such as policies and procedures, and may be concerned with how they will remember, let alone, how they will follow it all. =o benefit the whole team, it is advisable that all NoldO employees make every attempt to be helpful, reassuring and welcoming to the newcomer, rather than taking on a Nsink or swimO philosophy.

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Cultural %!oc* *ultural shock is defined as a psychological disorientation that most people experience when living in a culture markedly different from oneMs own. *ulture shock occurs when our H...cultural clues, the signs and symbols which guide social interaction, are stripped away. ...: difficult part of this process for adults is the experience of feeling like children again, of not knowing instinctively the PrightM thing to do.H *ulture #hock is a normal, healthy psychological reaction to the stress of living in a different culture. )ou experience feelings of tension and anxiety because you have lost familiar cultural cues. )our actions do not always get you what you want. :nd your inability to communicate effectively with others is frustrating.

%$mptoms of Cultural %!oc*

*ulture shock is caused by the stress of being in a new culture and is a normal part of adjusting to a new place. Dhen you live in a new culture, your own values are continually brought into -uestion. :lso, you are cut off from the cultural clues and known patterns with which you are familiar.

:nxiety *rying a lot Irritability ?opelessness ?omesickness Distrust of hosts Depression Dithdrawal >atigue #tereotyping 6oredom #elfAdoubt :voiding contact with host nationals Difficulty studying effectively

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%trategies coping to Culture %!oc*:

#trategies coping to culture shock are as follows: B. ,eali&e that culture shock is a natural part of adjusting to a new culture. (ractically everyone who lives abroad experiences culture shock to some degreeRyou are not alone. If you are familiar with the symptoms of culture shock and anticipate them, you will have an easier time adjusting. /. DonMt be afraid to share your feelings with others. =alk to other international students about what you are feeling and experiencing. )ou will probably find that others can relate to how you are feeling. F. 6ecome involved in activities on campus or in the community. =his is a good way to meet people and will help enrich your time in the 2nited #tates. If you feel uncomfortable joining a program or activity, ask a friend to come with you. 8. Develop a Nsupport system.O 6eing away from family and friends who normally support you can be difficult. It is important to connect with others who can provide you support. %. =ake care of yourself. 'iving in a foreign country can be very stressful on your body. ,emember to get plenty of rest, eat well, and exercise. Soin an intramural sport and cook your favorite dish from your country, or try the local ethnic grocery stores. 9. =ake some Ntime out.O #peaking a foreign language all day can be very exhaustingT ,emember to spend some -uiet time each day reading a book or listening to music in your own language. $. Qeep your sense of humor. It is important to be able to laugh. :llow yourself to see the humor in misunderstandings and embarrassing situations. J. #et small goals for yourself. ,emember that many of the things that were easy for you may not be so easy in a new culture. Iake realistic goals so you can feel good about reaching them. L. :sk -uestions and learn from others. If you donMt understand something, remember that it is okay to ask for help. @#2 faculty and staff, classmates, and other international students can help answer your -uestions and increase your understanding of :merican culture. B7. Qeep a positive attitude. )ou will most likely experience some negative feelings while you are in the 2.#. Dhile this is perfectly normal, it is important to not let them dominate you. )ou might try keeping a list of your enjoyable experiences so your outlook remains positive.
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%cope/Areas of I.+)

International Compensation =his is one of the most complex areas of international ?,I. #ince different countries have different norms for employee compensation, managers should consider carefully the motivational use of incentives and rewards. =he whole area of international compensation management presents some tricky problems. @n the one hand, there is certain logic in maintaining companywide pay scales and policies so that, for instance, divisional marketing directors throughout the world are all paid within the same narrow range. =his reduces the risk of perceived ine-uities and dramatically simplifies the job of keeping track of disparate countryAbyAcountry wage rates.
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Global .+ strateg$ Global human resource strategy is the framework built around managing a global workforceV including recruiting, hiring, setting compensation levels and benefits, and retaining workers in a global organi&ation. Global companies must make decisions about hiring locally, recruiting expatriates, or utili&ing emerging new worker groups to fill the needs of a particular region. :dditionally, global ?, strategy must consider the complexities of regional government interaction with the business, as well as social programs that may compensate for benefits offered by the employer in other regions. @ther global ?, issues that impact the development of a cohesive strategy include cost of living, local pay scales, retention issues, pension issues, organi&ed labor, and regional leave policies.
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%teps of Planning .+ %trategies for Global Organisation

=he scarcity of -ualified managers has become a major constraint on the speed with which multinational companies can expand their international sales. =he growth of the knowledgeAbased society, along with the pressures of opening up emerging markets, has led cuttingAedge global companies to recogni&e now more than ever that human resources and intellectual capital are as significant as financial assets in building sustainable competitive advantage. =o follow their lead, chief executives in other multinational companies will have to

bridge the yawning chasm between their companiesE human resources rhetoric and reality. ?.,. must now be given a prominent seat in the boardroom. Good ?.,. management in a multinational company comes down to getting the right people in the right jobs in the right places at the right times and at the right cost. =hese international managers must then be meshed into a cohesive network in which they -uickly identify and leverage good ideas worldwide. Implementing the ideas can be broken down into B7 steps. 6y taking these steps, a company should be able to put into place an effective global human resources program within three to four years. BC Brea* all t!e 1local national1 glass ceilings: =he first, and perhaps most fundamental, step toward building a global ?.,. program is to end all favoritism toward managers who are nationals of the country in which the company is based. *ompanies tend to consider nationals of their head-uarters country as potential expatriates and to regard everyone else as Hlocal nationals.H 6ut in todayEs global markets, such HusAversusAthemH distinctions can put companies at a clear disadvantage, and there are strong reasons to discard them: ;thnocentric companies tend to be xenophobic AA they put the most confidence in nationals of their head-uarters country. 6ig distinctions can be found between expatriate and local national pay, benefits and bonuses, and these differences send loud signals to the brightest local nationals to learn as much as they can and move on. 'ess effort is put into recruiting topAnotch young people in overseas markets than in the head-uarters country. =his leaves fastAgrowing developing markets with shallow bench strength. Insufficient attention and budget are devoted to assessing, training and developing the careers of valuable local nationals already on the company payroll. /C race $our lifeline: 6ased on your companyEs business strategy, identify the activities that are essential to achieving success around the world and specify the positions that hold responsibility for performing them. =hese positions represent the HlifelineH of your company. =his second step re-uires integrated teams of business and ?.,. specialists working with line managers. @ver time, they should extend the skills descriptions to cover all of the companyEs executive posts. =he lifeline and role descriptions should be revisited at least annually to ensure they express the business strategy. Iany companies recogni&e the need to review the impact of strategy and marketplace changes on highAtechnology and ,+D roles but overlook the fact that managerial jobs are also redrawn by market pressures. FC Build a global database to *no( (!o and (!ere $our talent: =he main tool of a global ?.,. policy has to be a global database simply because multinational companies now have many more strategic posts scattered around the globe and must monitor the career development of many more managers. :lthough some multinational companies have been compiling worldwide ?.,. databases over the past decade, these still tend to concentrate on posts at the top of the organi&ation, neglecting the middle managers in the country markets and potential stars coming through the ranks. 8C Construct a mobilit$ p$ramid: ;valuate your managers in terms of their willingness to move to new locations as well as their ability and experience. Iost ?.,. departments look at mobility in blackAorAwhite terms: HmovableH or Hnot movable.H 6ut in todayEs global markets this concept should be viewed as a graduated scale and constantly reassessed because of changing circumstances in managersE lives and company opportunities. =his will encourage many more managers to opt for overseas assignments and open the thinking of line and ?.,. managers to different ways to use available inAhouse talent. %C Identif$ $our leaders!ip capital: 6uild a database of your companyEs mix of managerial skills by persuading people to describe the information in their c.v.Es, their management talents and their potential on standard personalAprofile templates. SumpAstart the process by having your senior managers and those in the lifeline posts complete the forms first. :dd others worldwide with the potential to move up. Include functional specialists who show general management potential.

,e-uire over time that every executive join the global ?.,. system. =his makes it harder for uncut diamonds to be hidden by their local bosses. ,ecogni&ing that peopleEs situations and career preferences shift over time, hold all managers and technical experts responsible for updating their c.v.Es and reviewing their personal profiles at least once a year. 9C Assess $our benc! strengt! and s*ills gap : :sk each executive to compare his or her skills and characteristics with the ideal re-uirements defined for the executiveEs current post and preferred next post. Invite each to propose ways to close any personal skills gaps AA for example, through inAhouse training, mentoring, outside courses or participation in crossAborder task forces. *ompare the skills detailed in the personal assessments with those re-uired by your business strategy. =his information should form the basis for your management development and training programs and show whether you have time to prepare internal candidates for new job descriptions. $C +ecruit regularl$: #earch for new recruits in every important local market as regularly as you do in the head-uarters country. Develop a reputation as Hthe company to joinH among graduates of the best universities, as *itibank has in India, for example. =he best way to attract stellar local national recruits is to demonstrate how far up the organi&ation they can climb. :lthough many >ortune %77 companies in the 2nited #tates derive %7 percent or more of their revenues from nonAdomestic sales, only B% percent of their senior posts are held by nonA:mericans. =here may be nothing to stop a local national from reaching the top, but the executive suite inevitably refiects where a company was recruiting F7 years earlier. ;ven today, many multinational companies recruit disproportionately more people in their largest AA often their longestAestablished AA markets, thereby perpetuating the status -uo. JC Advertise $our posts internall$: ,un your own global labor market. In a large company, it is hard to keep track of the best candidates. >or this reason, I.6.I. now advertises many of its posts on its worldwide Intranet. 2nilever usually advertises only posts in the lower two pools, but this policy varies by country and by business unit. ,outine internal advertising has many advantages in that it: :llows a competitive internal job market to function across nationalities, genders and other categories. #hows ambitious people they can make their future in the company. Iakes it harder for bosses to hide their leading lights. :ttracts highAfiyers who may be ready to jump ship. ?elps to break down businessAunit and divisional baronies. ,educes inbreeding by transferring managers across businesses and divisions. Gives the rest of the company first pick of talent made redundant in another part of the world. #olidifies company culture. Is consistent with giving employees responsibility to manage their own careers. =here are also certain disadvantages to this practice: 'ine managers have to fill the shoes of those who moveV a central arbiter may need to settle disputes between departments and divisions, and applicants not chosen might decide to leave. =o prevent that, disappointed applicants should automatically be routed through the career development office to discuss how their skills and performance mesh with their ambitions. LC Institute succession planning: ;very manager in a lifeline job should be re-uired to nominate up to three candidates who could take over that post in the next week, in three months or within a year, and their bosses should sign off on the nominations. =his should go a long way toward solving succession -uestions, but it will not resolve them completely. =he problem in large multinational companies is that many of todayEs successors may leave the company tomorrow. In addition, managers name only those people they know as successors. =hird, the chief executives of many multinational companies keep their succession plans AA if they have any AA only in their heads. =his seems to overlook the harsh realities of life and death. : better approach is that of one ;uropean shipping magnate who always carries a written list with the name of a successor for the captain of every boat in his fieet.

B7C C!allenge and retain $our talent: Global networks that transfer knowledge and good practices run on peopleAtoApeople contact and continuity. ;xecutive continuity also cuts down on turnover, recruitment and opportunity costs. :s international competition for talent intensifies, therefore, it becomes increasingly important for companies to retain their good managers. Ionetary incentives are not sufficient: the package must include challenge, personal growth and job satisfaction. : policy should be adopted that invites employees to grow with the company, in every market. In addition, a career plan should be drawn up for every executive within his or her first B77 days in the organi&ation. :nd plans should be reviewed regularly to be sure they stay aligned with the business strategy and the individualEs need for job satisfaction and employability. @verseas assignments and crossAborder task forces are excellent ways to challenge, develop and retain good managers. =hey can also be awarded as hori&ontal Hpromotions.H =his is particularly useful since the fiat organi&ations currently in fashion do not have enough levels for hierarchical promotions alone to provide sufficient motivation. Iost multinational companies now do a good job of globali&ing the supply chains for all their essential raw materials AA except human resources. (layers in global markets can no longer afford this blind spot. *ompetition for talent is intensifying, and demand far outstrips supply. =o have the multicultural skills and vision they need to succeed, companies will have to put into place programs that recruit, train and retain managers in all their markets. If companies are to handle the challenges of globali&ation and shift to a knowledgeAbased economy, they must develop systems that Hwalk their talkH that people are their most valuable resource. =he purpose of a global ?.,. program is to insure that a multinational company has the right talent, managerial mobility and cultural mix to manage effectively all of its operating units and growth opportunities and that its managers mesh into a knowledgeAsharing network with common values.

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