Global Management - Explained
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What is Global Management?
Global management concerns the management of employees and resources when carrying on business internationally. This includes all business activities, such as sales, marketing, hiring, and finance practices. Global management requires an awareness of unique business factors, including:
- Political/Legal Environment
- Economic Environment
- Eg. Free Market vs Planned Economy
- Eg. Currency, Exchange, Inflation, Tax
- Cultural Environment
Some of the unique challenges associated with managing in a global organization include:
- Openness to unique cultural elements.
- Managing unique cultural elements
- Cross-cultural Teams
- Need Cultural Intelligence & Global Mindset
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