Planning involves analyses of international and external environment to find out the strengths, weaknesses, opportunities and threats. After conducting the SWOT analysis, the management sets the objectives. It is very difficult to analyse the external environment. This is because the world markets, are changing continuously.
Even large MNCs find it difficult to compete in the world markets. Therefore, they form Global Strategic Partnerships (GSPs) with local companies. Due to GSPs, planning becomes easier. That is because the managers of the local branches have full knowledge about the local environment. Some MNCs use consultants to study the external environment of foreign countries.
2. Organising in the MNCOrganisation is a structure, which helps to achieve corporate objectives.
A MNC can select an organisation structure from the following options:-
Staffing involves selecting the right man for the right job. It also includes manpower planning, promotion, transfers, training and development, compensation, etc.
Staffing function of an international business is very important, especially while appointing the top-level managers. The top-level managers must be competent and committed persons.
A MNC has three options to select managers :-
The MNC must select the right managers to manage the international business. They must consider factors, such as compensation, labour laws of the host country, level of competence of the managers in the host country, etc.
4. Leading in the MNCLeading is the process of influencing the subordinates to perform willingly towards group objectives. Leading involves motivating and communicating. Managers must have effective leadership qualities.
Leading and motivating employees require an understanding of employees and their cultural environment. For eg., Participative management may work well in democratic countries, but it may confuse the employees in a country having a dictator.
Communication is a problem for MNCs because they do business in countries where different languages are spoken. However, their communication problems can be solved by having local managers.
5. Controlling in MNCControlling involves monitoring actual performance and taking corrective measures, to correct deviations, if any.
Controlling is a bit difficult in international business due to certain reasons:-
The above problems can be easily solved with the help of computers.
1. What role do cross-cultural communication play in multinational corporation management ? 2. What role do cooperative decision-making play in multinational corporation management ? 3. What role do collaborative problem-solving play in multinational corporation management ?
Yes, Jollibee is a multinational corporation based in the Philippines. It has expanded its operations globally and currently has branches in various countries beyond its home base.
what is multinational financial management?
An MNC (Multinational corporation) is a corporation that has its management headquarters in one country, known as the home country, and operates in several other countries, known as host countries.
volkswagen AG is a multinational corporation.
It is a multinational company. Nokia is the largest multinational corporation in India.
Yup, Gillette Sells and markets its products in 2+ countries, deeming it a multinational corporation.
My father works for a multinational corporation. McDonald's is a multinational corporation. Multinational corporations are bad for society. The features of most multinational corporations include a lack of concern for employees.
how domestic finance management is different in multinational finance management
yes
The meaning of multinational corporation in Philippines is same as it is in other countries. A multinational company is an enterprise operating in several countries with its headquarter in its home country.
One operates within one country, while the multinational is based in two or more.