International Management Essay Example | Topics and Well Written Essays - 2250 words

International Management - Essay Example Market uncertainties and product characteristics are equally important. Firms enter through the research and development process and then get a foothold in the country. In the face of competition firms even ignore the short-term losses when they find tremendous potential in investing. Hence, several variables need to be added to the existing model as resources have become readily available. Dunning sees an interrelationship between I and O type advantages in that internalisation helps a firm to acquire or increase those assets which give it an O type advantage. The essence of the eclectic approach is to consider the OLI type advantages together and in applying them to both international trade and production. This means that it is more of a synthesis of other approaches. Dunning calls his theory systemic because it relates to the way in which the firm coordinates its activities. Dunnings model attempts to integrate elements of micro and macro theory and to explain international trade and production within the same conceptual framework. It is centered on the notion that FDI is the most effective vehicle for serving foreign markets when the firm possesses the advantages under conditions of imperfect competition (Holsapple, Ozawa & Olienyk, 2006). Dunning’s framework according to Brouthers and Hennart (2007) can be conceptualized as a tool that combines insights fro m resource-based (firm-specific), institutional (location) and transaction cost (internalization) theories. The approach is dynamic since the OLI advantages interact with one another. L advantages may create incentives to internalise and I advantages create further O advantages. The main doubt about Dunnings model is whether it is more than a mere taxonomy. The model is a helpful classification - but does it explain anything? Dunning’s framework has not been found to be sufficient to arrive at a decision concerning the mode of entry in international markets. Additional

Organizational culture is fundamentally about symbolic meaning and as Essay

Organizational culture is fundamentally about symbolic meaning and as such cannot be managed. Discuss - Essay Example The key factors that have contributed to the importance of organisational culture are globalisation, extensive networks of society and dynamics of ever changing social aspects that have created a work environment that has a diverse culture worldwide (Lann, 2008). Organisational culture plays a pivotal role in allowing the organization to gain a competitive edge in its industry and also becoming successful in the business world with a huge market share. The employees are the key elements that make or break the firm as they are ones who execute the objectives and goals of the organisation. It is important for the organisations to adapt to the organisational culture as required because diversions may lead to conflict of opinion and interest in the organisation. Both the employers and employees need to work together with each other in complete harmony so that desired level of success and results can be achieved by the firm. Within the last two decades of the 20th century, the practitione rs and scholars have been approaching the firms from soft perspectives of individuals as human beings who join the corporations with particular beliefs and values. These beliefs and values play an important role towards the behaviour and attitudes of the employees in the organisation. ... t things for human beings as reflected in the Elton Mayo theory, hence organisations should ensure that they value their employees in all perspectives. Satisfied employees tend to be more productive at workplace and they also tend to respect their organisational culture. According to Gareth Morgan, cited by Ravasi and Schultz (2006), the cultural perspective is one of the interesting and possible metaphors that can be used to understand the functioning and operations of an organisation. The main areas that are focused by the researchers following this perspective are interpreting the ways people do their thinking so that their feeling and actions can be easily conceptualised by the set of values that have been encompassed in the broader perception of culture (Sun, 2008). The thought process of an individual impacts the way job roles are handled at work and also impacts the way employees perceive things at workplace. The perception of employees are also dependent upon their treatment in the organisation by the supervisors and peers. This cultural perspective has both limitations and strengths and has made valuable contributions in the field of organisational research. During the studies by many researchers, one of the primary virtues of cultural metaphor was identified that directed the attention towards the significance of symbolic interaction in the organisation. Before the development of symbolic-interpretive perspective, the major emphasis was on the functionalist perspective which stated that culture is an integral part of the organisation that is defined by the management (Bako, 2010). The symbolic-interpretive perspective was valued by the researchers because it allowed them to study how the organisations have strong roots in their shared systems of meaning. It