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Formulae, Inc in International Business

Details: Your director at Formulae, Inc. has asked you to submit a detailed memo to his operating committee that addresses the major challenges that may present themselves as the company targets its expansion into Guatemala first and then into Mexico. Your detailed memo for the operating committee should include the following:

Explain the challenges of managing a diverse, globally based workforce, which could include but are not limited to strains of overseas living and loss of face-to-face connections of friends and extended family.

Evaluate how various legal, political, economic, ethical, and cultural systems in United States, Guatemala, and Mexico will affect business attitudes, norms, behaviors, practices, and philosophies of Formulae and its employees.
Give a brief assessment of key differences in U.S., Guatemalan, and Mexican business and operational practices.

Solution Preview

The response address the queries posted in 1510 words with references.
//Before writing about the workforce diversity and various challenges that a diverse workforce poses before the management, it is essential to have knowledge about the 'International Business'.//

Introduction

International business is very important for any organization as every businessman wants to spread his business internationally and gain profit and popularity. It is a practice of managing one's business outside the territory of the home country. But, as per the increasing competition and innovative conditions, it is not easy to move an organization towards international business. If an organization plans to expand its business at an international level, many important things need to be considered. Managing the workforce diversity is an important thing, which the organization should efficiently manage. To cater to the needs and requirements of a globally based diverse workforce, is a great challenge. If an organization successfully manages its workforce with diverse characteristics, it can achieve high productivity and efficiency (Wall & Rees, 2004).

Managing Workforce Diversity

A diverse workforce implies variations in the culture, religion, personality, perceptions, nature and traditions. People of different races, sex, color, origin, caste, age, etc. Are involved in the diverse workforce. There are differences among the people of different origin and different countries. The major difference is the difference in the culture of every individual employee, which comprises of differences in language, traditions, dresses, values, ethics, beliefs, behavior, etc. An organization has to be careful in managing such a diverse workforce. The ethical as well as legal concerns should be kept in view while interacting with such a diverse workforce (Alkhafaji, 1994).

Managing such workforce is not an easy task for any organization. There are some challenges that a diverse workforce poses before the management. They are as follows:

Employee Recruitment: Recruiting a diverse workforce in the organization is the foremost challenge that an organization faces. While recruiting candidates the organization should not favor any particular caste, race or gender. Inviting applicants from such large diversities requires the determination of the potential of each candidate. Some specific positions should not be fixed for particular caste or race.
Prejudice & Discrimination: An organization should be impartial and just in dealing with a diverse workforce at an international level as well as national level. It should not discriminate among the employees in matters of ...

Solution Summary

This response addresses the queries posed in 1345 Words, APA References.

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