What would be some recommendations for MNCs operating in less developed countries (LDC) to promote a mutually beneficial, long-term, constructive relationship based on CSR and interdependence with the LDC?
The main component for success is understanding and respecting the cultural differences which exist. This can be critical to the success or failure of any foreign investment. An example is happening now in the Mexican border towns with maquiladoras. Many are now owned and operated by Asian nationals, who have a high tolerance for working very hard and for being highly mindful of expenses and "stretching the dollar" so to speak. On the other hand, Mexican nationals have a culture which stresses the family, and which cultivates the idea of "mañana" in order to get things done. In addition, the Mexican culture has been linked to splitting the work day via "siesta" time. As one might imagine, these two cultures will ...
International business operations face many factors to insure a successful business model. This discussion reviews the most substantial factors which need to addresses in order for the firm to establish a road map for a successful operation in a low developed country.