After reading this chapter, you should be able to answer these questions:
- Why is it important to understand and appreciate the importance of international management in today’s world?
- What is culture, and how can culture be understood through Hofstede’s cultural framework?
- How are regions of the world categorized using the GLOBE framework, and how does this categorization enhance understanding of cross-cultural leadership?
- Why is an understanding of cultural stereotyping important, and what can students do to prepare for cultural stereotyping by looking at social institutions?
- What steps can you undertake to be better prepared for cross-cultural assignments?
- What are the main strategies that companies can use to go international?
- Why might it be necessary for a company to go international, and how might it accomplish this goal?
- 12.6.2: Importance of International Management
- International management is a critical area for any serious student of management because of globalization, the worldwide phenomenon whereby the countries of the world are becoming more interconnected and where trade barriers among nations are disappearing. Companies of all kinds are no longer limited to producing and selling their goods and services in domestic markets.
- 12.6.3: Hofstede's Cultural Framework
- As the business world becomes more global, employees will likely face someone from another country at some point in their careers, companies will negotiate with companies from other countries, and even employees of domestic companies will likely encounter someone from another country.