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Management in International Business

1250-1500 words
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.
You are to use the library and other outside sources when providing your research.

Solution Preview

The given memo will help you to understand the business expansion of the company in Guatemala and Mexico and USA.
For the achievement of more and more profits, all the business organizations try to expand their business in the international market. International business means running the business outside the native country of an organization. In the today's competitive business environment and innovative business conditions, it is not easy for the business organization to expand the business in international market. For the expansion of the business in international market, the business organizations are required to consider some critical issues. The most important issue on which the business organizations should put more emphasis and manage efficiently is the workforce diversity. In order to achieve high productivity and efficiency, organizations are required to manage the workforce with diverse characteristics successfully.
Workforce Diversity Management
A diverse workforce has variations in various aspects. The main aspects of variations are personality, perceptions, religion, work culture, nature, business traditions, etc. The diverse workforce of a country includes the individuals with different origins, caste, age group, religion, castes etc. The population of different countries has various differences among their people. The major difference is in the culture of different individual employees (Managing a Diverse Workforce).
The cultural differences include different languages, traditions, values, personal behavior, beliefs, ethics, etc. To manage this diverse workforce is a very careful work for the organizations. In the management of these diverse workforces, the organizations have to put emphasis on ethical, social, legal and environmental issues during their business operations.
Due to the diverse workforce, the management has to face various challenges. Some of the major challenges faced by organizations are given as under:
Recruitment of Employees: Most of the organizations face the challenges of recruiting the diverse workforce. The organizations are expected not to consider the caste, race or gender characteristics while the recruitment process of the candidates. There should not be any ...

Solution Summary

The response addresses the queries posted in 1323 Words, APA Reference.