Successful negotiation strategies are at heart of efficient

Successful negotiation strategies are at heart of efficient cross cultural management. What are the key issues highlighted that the modern international manager needs to be aware of to operate a company successfully in a multicultural environment? DIscuss critically with references to background reading, personal experience and case studies, where if possible.

Solution

Below are the key issues that the international manager needs to be aware of to operate a company successfully in a multicultural environment -

1. Unpredictability of global markets resulting in higher capital and operational costs as opposed to revenues

2. Difficulty in understanding customer preferences and customizing accordingly.

3. Unavailability of skilled resources to recruit and manage

4. Possibility of complex regulations in the foreign country hindering the expansion plans of the firm.

5. Managing employees who are from different cultures by increasing communication through multiple media.

6. Staffing diverse group of employees in the projects