What are the approaches international managers seek to understand when instituting change in the international arena?
There are seven different approaches that managers take.
1. Cost - benefit relationships: All international changes involve cost-benefit relationships. Management needs to thoroughly examine the foreign culture to determine what the trade-offs and costs will be for the company. Adjustments to foreign cultures take time and they can be resource-consuming. This is where management really needs to decide what risks are involved in the costs/benefit analysis. The main questions that need to be addressed are if performance will be compromised due to the changes that will be undertaken in another culture, and if the company can support any surges or sharp declines in performance due to the adjustments that are a necessary part of foreign cultures.
2. Timing approaches - Management needs to determine when the best time for the planned changes is, for the company. The main aspects of the company and the main aspects of the change need to be examined. There are good times for change depending on ...
This solution discusses the approaches international managers seek to understand when instituting change in the international arena.