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Managers in the international arena

This is a detailed response to what U.S. managers need to know about leading in the international arena. In 1626 words, 10 references in APA format, this response identifies and describes three important guidelines that can be of practical value; including authentic leadership and ethically responsible leadership. Here is a small sample of what you will see: Prospective international managers must first realize there is no single way to enter a foreign market. Businesses must choose the model appropriate to their level of resources, market potential, and experience operating in the international sphere. The various categories of international business models include........

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What do U.S. managers need to know about leading in the international arena? identify and describe three important guidelines that can be of practical value.

As trade barriers recede and businesses in developed economies increasingly pursue market opportunities abroad, competency and effectiveness in international management are paramount skills at many companies. The issues involved in international management span the whole gamut of those concerning management in general, but there are several areas of special interest, including: international finance and currency matters, cross-cultural communication and understanding, foreign legal requirements and accounting practices, global strategy and international competition.

To ignore such issues in an international business is to open the door to risks like inappropriate (and hence ineffective) marketing approaches, poor labor-management relations, adverse currency fluctuations, and other problems. Conversely, companies that are able to successfully manage these issues have greater potential to extend their marketing reach, increase market share, improve efficiency and profitability, decrease costs, and enjoy other competitive advantages.

Prospective international managers must first realize there is no single way to enter a foreign market. Businesses must choose the model appropriate to their level of resources, market potential, and experience operating in the international sphere. The various categories of international business models include export/import businesses, independent agents, licensing and franchising agreements, direct investment in established foreign companies, joint ventures, and multinational corporations (MNC). The differences among these options are sometimes subtle in nature.

Contemporary international managers will need to demonstrate a higher level of skill than those exhibited by the traditional manager in the past. They must be multilingual, sensitive to cultural differences, and knowledgeable about current global management theory, philosophy, psychology, and their practical applications. Acquiring the skills needed to become a successful international manager is a demanding, albeit necessary, process-especially since the global market will continue to expand for the foreseeable future.

There are three approaches to international management: ethnocentric, polycentric, and geocentric. Each has its advantages and disadvantages. None of these theories can be successful, however, unless managers understand completely the nuances involved in their applications.

The ethnocentric approach is one in which management uses the same style and practices that work in their own headquarters or home country. Such an approach may leave managers open to devastating mistakes, because what works in the United States, for example, may not necessarily work in Japan. There are many ...

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This is a detailed response to what U.S. managers need to know about leading in the international arena. In 1626 words, 10 references in APA format, this response identifies and describes three important guidelines that can be of practical value; including authentic leadership and ethically responsible leadership. Here is a small sample of what you will see: Prospective international managers must first realize there is no single way to enter a foreign market. Businesses must choose the model appropriate to their level of resources, market potential, and experience operating in the international sphere. The various categories of international business models include........

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