2 What are the approaches international managers seek to und

2. What are the approaches international managers seek to understand when instituting change in the international arena?

Solution

International managers should seek to understand certain strategies in special areas of special interest that include international finance and currency matters, cross-cultural communication and understanding international marketing implications, foreign legal requirements and accounting practices, global strategy, and international competition. Managers who are able to successfully manage these issues have greater potential to extend their marketing reach, increase market share, and increase efficiency and profitability. Those who ignore these issues open the door to risks like inappropriate marketing approaches, poor labor-management relations, and other problems. International managers should be multilingual, sensitive to cultural differences, and knowledgeable about current global management theory, philosophy, psychology, and their practical experiences.

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