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The Influential Factors, Key Current Issues and Future Directions for International HRM in China - Essay Example

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The influential factors, key current issues and future directions for International HRM in China. 1. Impact of environmental factors like government actions, regional economic and political activity and cultural diversity on IHRM. In the recent years since economic liberalization has become a major component of global business environment, China has emerged has one of the most important developing economies that offers wide scope of business opportunities…
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The Influential Factors, Key Current Issues and Future Directions for International HRM in China
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"The Influential Factors, Key Current Issues and Future Directions for International HRM in China"

Download file to see previous pages The move from traditional closed door economy to ‘open door’ economy, has attracted foreign direct investments or FDI which have given considerable boost to its image as nation that is ready to embrace new culture of cooperation. The facilitating employment policies, labour law, joining world trade unions and forging alliances with international business community have been few of the major elements of its liberalization. The Government’s recognition of the importance of human resources has been critical to the expanding business opportunities for both within and outside the country. The new labour policies and laws that incorporate the international parameters and conform to the wider international regulations have proved the efficacy of international HRM that Chinese companies and corporate bodies are increasingly adopting within their core business strategies. Scholars assert that new IHRM practices have introduced new formats which are based on investment and stake owner equity (Bell, Khor and Kochhar, 1993). These are important issues as they cater to the wider welfare of the workforce. But according to Child (1994), there is still strong influence of sociologist ideology of the government towards work, performance and rewards in local joint ventures partner in business alliance of MNE in Chinese SOE. The contributory factor could be strong political regulations that favour local people. In the contemporary environment of competitive business, business practices of the domestic market are inadequate in the global market. Expanding business must take cognizance of the changed equation of business practice with reference to the changing socio cultural background of the country, where one needs to establish the business interests. National cultures are critical elements that determine the negotiator’s assumptions and help to form business strategy based on behavioral pattern (Cohen, 2004; Rubin & Sander, 1991). Hofstede, (1984) has also emphasized the importance of culture in business paradigms. China being culturally distinct economy, must be understood for making successful foray into business partnership and alliances. The increasing trend in IHRM to understand cross cultural values therefore become vital part of business in China within and across the business entities that are looking for exploiting business opportunities there. 2. Key current issues in IHRM Dowling et al. (1999) says that complexities of Chinese socio-political and cultural environment have posed serious challenges to the businesses, especially their IHRM practices. The cross cultural understanding and the wide diversity of national cultures and most importantly the tight control of government over international business are issues that need careful considerations. Poole (1999) believes that use of local talent and resources are important part of joint ventures that promote local economy. The socio-cultural value systems are vastly different and business practices are very sensitive to behavioural pattern and intrinsically linked to their socio-cultural value system. Schuler (2001) says that there is strong bond of national culture that prefers to deal with local people rather than expatriate managers. This is important issue with the MNCs as they often incur huge cost on training ...Download file to see next pagesRead More
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