If society is indeed becoming a
Solution
Ans -
Now days, society is indeed becoming a global village as over the years innovation in
Information technology has penetrated almost every aspect of our lives, \"shrinking\" our world
into a global village. The economies and cultures have come closer and closer.. People in the
society are now aware of the cultures, traditions, lifestyle, living conditions prevailing in almost
every corner of the world. Interestingly, this is going beyond awareness and into a state of
integration that is a result of cross-pollinated views, ideologies, products and services.
The consequences of every individual action have been amplified, making a substantial impact
on the world outside. Incidents occurring in remote areas of the world affect other countries;
local businesses face competition from foreign corporations, regional uprisings can inflate oil
prices, share trade in Europe can be a cause of economic tremors in America. This reality has
created a new ideological context that calls for international social responsibility and
accountability that goes beyond individualism, beyond borders, highlighting the importance of
global thinking.
Multinational firms whose operations are borderless have to consider the cultural variability of
different regions of the world and develop cultural understanding. Major cultural constraints
encountered by businesses include local attitudes, taste preferences, language, religion,
management style, gender discrimination, skills, personalities, education, etc. To be successful,
they need to mold their business actions in accordance with the local cultural models, they need
to establish a global mindset.
So if a multinational firm needs to be successful whose operations are borderless, then they must
undrstand the local nations beliefs , customs and traditions.
Basically, the firms needs to to develop three types of assets: intellectual, social, psychological
understanding of the country
It calls for establishing trusting relationships with local stakeholders including local customers,
suppliers and employees. Managers must have the skill to spark positive energy in people who
come from different parts of the world -- and excite them. They must be able to connect those
people, allow them the space to cross-fertilise ideas and achieve the highest degree of
collaboration..
If these practises are followed, not only will the fimr be able to flourish in the respective country
but also it will help the country in developing its economy..
If society is indeed becoming aSolutionAns -Now days, societ.pdf
1. If society is indeed becoming a
Solution
Ans -
Now days, society is indeed becoming a global village as over the years innovation in
Information technology has penetrated almost every aspect of our lives, "shrinking" our world
into a global village. The economies and cultures have come closer and closer.. People in the
society are now aware of the cultures, traditions, lifestyle, living conditions prevailing in almost
every corner of the world. Interestingly, this is going beyond awareness and into a state of
integration that is a result of cross-pollinated views, ideologies, products and services.
The consequences of every individual action have been amplified, making a substantial impact
on the world outside. Incidents occurring in remote areas of the world affect other countries;
local businesses face competition from foreign corporations, regional uprisings can inflate oil
prices, share trade in Europe can be a cause of economic tremors in America. This reality has
created a new ideological context that calls for international social responsibility and
accountability that goes beyond individualism, beyond borders, highlighting the importance of
global thinking.
Multinational firms whose operations are borderless have to consider the cultural variability of
different regions of the world and develop cultural understanding. Major cultural constraints
encountered by businesses include local attitudes, taste preferences, language, religion,
management style, gender discrimination, skills, personalities, education, etc. To be successful,
they need to mold their business actions in accordance with the local cultural models, they need
to establish a global mindset.
So if a multinational firm needs to be successful whose operations are borderless, then they must
undrstand the local nations beliefs , customs and traditions.
Basically, the firms needs to to develop three types of assets: intellectual, social, psychological
understanding of the country
It calls for establishing trusting relationships with local stakeholders including local customers,
suppliers and employees. Managers must have the skill to spark positive energy in people who
come from different parts of the world -- and excite them. They must be able to connect those
people, allow them the space to cross-fertilise ideas and achieve the highest degree of
collaboration..
If these practises are followed, not only will the fimr be able to flourish in the respective country
but also it will help the country in developing its economy.
