Lecture notes International Business management what international business is and why it is important and how does international business differ from domestic. Markets have become truly global for most goods, many services, and especially for financial instruments of all types. World product trade has expanded by more than 6 percent a year sincewhich is more than 50 percent faster than growth of output the most dramatic increase in globalization, has occurred in financial markets.
Major task for organizations which operate across international boundaries is to manage the dissimilar stresses of the drive for integration and differentiation.
In broader sense, International human resource management process has same activities as in Domestic HRM such as planning and staffing however domestic HRM is operated in one nation And IHRM activities are involved in different countries.
International Human Resource Management is a branch of management studies that examines the design and effects of organizational human resource practices in cross-cultural contexts. It occupies an exciting position in the interstices of international business, human resource management and organizational behaviour, scholarships.
Theoretical studied explained that International HRM is the interplay between three dimensions: HR activities, the types of people being employed in the organisation and the different countries that an organisation is operating in Dowling, Complexities caused by these last two variables, are what differentiates international HRM from domestic HRM, as the HR activities themselves are relatively similar.
Buy These Notes in PDF Format Concept of International Human Resource Management Broadly defined, International human resource management is the study and application of all human resource management activities as they impact the process of managing human resources in enterprises in the global environment.
IHRM can be explained as "The set of distinct activities, functions and processes that are directed at attracting, developing and maintaining an MNC's human resources.
An Notes on international management organization or firm is one in which operations take place in subsidiaries overseas, which rely on the business expertise or manufacturing capacity of the parent company.
Such companies or organizations bring with them their own management attitudes and business styles.
Human resource managers of such organizations cannot afford to ignore the international influences on their work. International human resource management play significant role in providing solution to global business issues. Theorists explained that International HR management denotes to an extension of HR that relates to having people working abroad.
These can be either expatriate staff, those who are recruited from or work within their own home countries locally recruited staffor even third country nationals individuals from neither the 'parent' nor 'home' country, but rather a third country.
The kinds of organizations in which this is the case can range from those with a small office or subsidiary based abroad, to major multinational corporations, international public-sector organizations, or international NGOs charities with sites all over the world.
It can also encompass an organization working in a joint partnership with another organization overseas. Alternatively it could be a home based organization with overseas offices or a company with selected departments which are offshore.
The differences between IHRM and HRM is that IHRM is being unpredictable and influenced more by external factors, requiring more functions, having continuously changing perspectives, requiring more intervention in employees' personal lives, and being more risky. Major functions of International Human Resource Management In International human resource management, there are five functional areas that include recruitment and selection, development and training, performance evaluation, remuneration and labor relations.
In the first function of IHRM, Recruitment and selection, company employs new qualified candidates for international operations. Selection requires choosing from this pool the candidate whose qualifications most closely match the job requirements. Staffing is a complex function of international human resource management.
In an global firms, the managing and staffing approach strongly affects the type of employee the company prefers. In a company with an ethnocentric approach, parent country nationals usually staff important positions at headquarters and subsidiaries.
In recruitment and selection methods, firms consider both headquarters' practices and those widespread in the countries of its subsidiaries.
Local culture also have great impact on recruitment and selection practices, and in some countries, local laws require a specific approach. In choosing the suitable candidate, it is needed to make balance between internal corporate consistency and sensitivity to local labor practices.
Another significant function of IHRM is Development and training which is aimed to offer sufficient training to personnel in a company and enable them to fulfil their goals, as well as show better performance and growth with their work.
At global level, human resource development experts must have responsibility for training and development of employees located in subsidiaries around the world, specialized training to prepare expatriates for assignments abroad, and lastly development of a special group of worldwide minded managers.
International human resource development programs may be done in two ways such as centralized and decentralized. In a centralized approach, training originates at the headquarters and corporate trainers travel to subsidiaries, often adapting to local situations.
This fits the ethnocentric model. A geocentric approach is also centralized, and trainers could be sent from various positions in either the headquarters or subsidiaries to any other location in the company. In a decentralized approach, training is given locally, following a polycentric model. When training is decentralized, the cultural backgrounds of the trainers and trainees are usually similar.
Local people develop training materials and techniques for use in their own area. It is important that trainer must be qualified. Performance evaluation is the effective function of international human resource management. In companies, the performance evaluation is regularly performed for administration or development intentions.
In multinational companies, performance appraisals are usually done annually and use a standardized evaluation form.International Business Management full notes 1.
INTERNATIONAL BUSINESS MANAGEMENT UNIT I Versatile Business School, Egmore, Chennai - 2. Africa Antarctica Asia Europe North America South America Versatile Business School, Egmore, Chennai - 3.
what international business is and why it is important and how does international business differ from domestic. international business management lecture notes . Comprehensive bullet pointed notes on all areas of the International Management module. Also includes an extensive case study and example document which will help back up points in your essays.
I received a 1st in this module based on these notes. Topic Meaning, definition and features of International Business Management Globalization- Definition, Features, Dimensions Stages of Globalisation Globalization: A boon or Curse/Advantages or Disadvantages Introduction to theories of International Trade Barriers to Trade Trading Environment of International Trade Analysis of Global.
Looking for Lecture notes in International Business? Download now thousands of Lecture notes in International Business on Docsity. Oct 19, · marketing management - international marketing notes Discuss MARKETING MANAGEMENT - INTERNATIONAL MARKETING NOTES within the Marketing Management forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Hello Friends, Check out MARKETING MANAGEMENT - INTERNATIONAL MARKETING NOTES It .