Global corporations operate in large international operation amongst many foreign countries. This means that for the global corporations needs to have well-defined managerial strategies so as to approach the different cultures and ethnic imbalances in most of the foreign countries. In this case, the global corporations employ the five managerial strategies that are leading, controlling, organizing, coordinating and technology for effective management.
Controlling and planning is very complicated when it comes to the international arena. The biggest challenge in planning in the international arena is the risk to lose profit due to the fluctuation in the exchange rates. Through the political-risk analysis, the global corporations can forecast the future and avoid the losses that could arise due to political interference. Global corporations usually plan well before investing in any country so as to avoid the losses that do arise due inflation and fluctuation in currency exchange rates.
Organizing is putting into action the plans. For the global corporations to reach their international goals, they must organize themselves. By organizing here, it means that the corporation appoints a representative to various parts of the world. The role of the representative will be to see if the objectives of the corporation are met.
Global area structure is the perfect way that the global corporation is using to organize itself. Using the global are structure, the production and sales functions can be separated into different geographical spheres and assigned a manager. Apart from the global are structure, global product structure is another perfect method of organizing the managers of the global corporation. Through the assistance from the area specialists, product manager are assisted to make sue the products of the corporation are always in the market. Area specialists are those who work as the staffs of the corporation but have some special characters such as professionalism in marketing of goods. The area specialists are found in most parts of the world including in North America, Latin America, Africa, Europe and Asia.
Global Corporation face the challenge of effective leading and control over the large volume of the staff. Global Corporation touches almost the whole world meaning that the clients will have very different needs and preference. Apart from the client preferences, global corporation has the challenge to lead the staffs who are located in places that have different labor laws. According to the Wall Street Journal for any manager to make it as a manger in the global corporation, then he or she should be flexible and can adapt in a different culture. To tackle these leading challenges, global corporation have trained most of the managers to be able to adapt to the ever-changing world events and cultures. Acting trustworthy, justice and honesty are the principle qualities for anyone willing to work with the corporation. Apart from honesty, global corporation have urged most of their staff to be confidence in their work and always coordinate and work as a team.
Work cited
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