International Management Workshop - Assignment Example

International Management Workshop Name Institution Date International Management Workshop Week 3 1. Discuss how the Internet and culture interact. Which most affects the other and how? Give some examples Internet is a medium of communication and has implications for the society. It has both benefits and harms to the society.1 People have benefited socially through the use of internet in terms of business, connectivity and freedom. Internet is however sometimes a great harm to the society since it impacts on social structures, morality, human relations, institutions as well as culture. Internet and culture interact through technology to promote cultural values. The policies that govern the internet are guided by cultural beliefs and values in the society. Internet benefits and harms are evaluated based on culture.2 Therefore, internet mostly affects culture. For example, it is believed that, autonomy is an important virtue that most people all over the world admire. Internet uses technology to enhance autonomy among individuals, although this may not be agreed by everyone. Additionally, people benefit from the internet through communication, social interaction, commerce, information and entertainment. These functional aspects affect culture and internet applications as well as services are designed to well serve these functional aspects. 2. Discuss the types of operational conflicts that could occur in an international context because of differences in attitudes towards time and individualism. Give examples relative to specific countries. Every culture comprises of shared values, assumptions, goals as well as understandings.3 It is important for international managers to understand the culture that exists in a particular society and its importance. Culture forms the basis for living in a particular society in terms of communication, codes of conduct, expectations as well as standards. When in their international assignments, managers can experience conflicting attitudes from individuals towards time and individualism.4 For example; time is great essence for any one trading in America. Americans value time and refer it as a limited resource. Therefore, it must be saved by having schedules and spenting with care. In Arabia, time is not taken seriously and an Arabian may feel insulted when given deadlines. Individualism is also taken differently in various countries. For example, Americans put a lot of value on individual promotions, achievement, accomplishments and goals. Other countries like China, do not value individualism, goals and accomplishments are based on group achievement as the basis for work and social life. 3. Identify three stereotypes that foreigners typically hold about Australians. Why do you think they might hold these stereotypes? Identify three cultural stereotypes that you hold (about foreign cultures). Stereotype is a generalized perception about a group of people or community. In Australia the Aboriginal are stereotyped as primitive, lack complex laws, drunks, violent, outback and uneducated among other stereotypes.5 Referring to the dumb Australian in the internet Australians are described as stupid since they drink too much.6 Australian Managers are referred to as The Arogant Yank since they do not notice the difficulties that foreigners experience while trying to adapt to the Australian Culture.7 Foreigners hold these stereotypes about Australians because of the way they see them behave. Their behaviour defines who they are and therefore, foreigners end up generalizing the cultural values of Australians. I stereotype Americans as materialistic because they judge all situations in terms of their economic value. Chinese people are easily contented, are hardworking and peaceful because they are reserved and humble. Italians are good lovers since they are passionate about sex, they love pizza and pasta. Week 4 1. Discuss the role of social media in global business communication The use of social media in global business communication is important since it plays as a viable as well as effective tool for business. Social media offers businesses the chance to compete efficiently in markets that are already developed. This is achieved through the use of social network channels that are consistent in communicating globally. Social media is usually focussed on consumers and therefore acts as a cost effective channel for marketing businesses. It also helps business owners to capture important information about their customers that would help in better improving their products. The increased use of social media by businesses is to enhance their relationships with their customers. To add on, social media is participating a lot in enabling businesses to effectively drive innovation for improved products and services. The use of technology enabled connections enables social media to effectively communicate business information globally.9 2. What is the relationship of language and culture? How is it that people from the same language may still miscommunicate? Language and culture relationship is complex because it is difficult to understand the cognitive process of people as they communicate. Language involves the understanding of regulations and doctrines and methods of pronouncing as well as doing things using sounds, words and sentences. It is not part of culture. Culture involves the beliefs in the society that people must know to behave in an acceptable manner.10 Language and culture cannot do without the other. There are three relationships of language and culture. There is a neutral relationship in the sense that people can analyze the two without regarding the other. The second relationship is that people in a particular culture can use language to demonstrate their cultural values. The other relationship is that how people see the world is determined by their language structure, hence language determines how people think. It is evident that people from the same language can still miscommunicate because it is difficult to establish the cognitive process of language as it is used by people.11 3. Give some examples of cultural differences in the interpretation of body language. What is the role of such nonverbal communication in business relationships? There are cultural differences in how people interpret eye contact. For example, in the US and Canada, eye contact is an important signal of conveying interest and consideration. In the Middle East, eye contact among people of the same gender is a sign of trust and sincerity, between opposite genders is inappropriate.12 In Asian, Latin Americans and African cultures, eye contact is a sign of challenge. In Japan, a brief eye contact is considered uncomfortable. In the Northern Europe, a handshake is considered as a norm. In Southern Europe, South and Central America it is considered as a warm expression of appreciation. In Turkey, it is rude to give a firm hand shake. In Africa, a hand shake is standard. In America, greetings accompanied by a hand shake is a way drawing attention, in Japan, greetings are expressed by bowing. In Italy, people greet one another by kissing on the cheeks. Non verbal communication plays the role of building business relationships by negotiating in public meetings, public speaking as well as job interviews. 13 Week 5 1. Discuss the relative use of nonverbal behaviours, such as silent periods, interruptions, facial gazing, and touching by people from various cultural backgrounds. Silent periods in the US are interpreted as awkward moments. Americans are uncomfortable with silent periods; they consider it a waste of time. In a business negotiation, silent period means negative to American people. In Japan, silent periods are used to avoid embarrassment and conflict. In the African culture, silent periods is a way of expression, people may be reflecting or waiting for a feedback. In the eastern culture, silent periods are a source of inner peace and wisdom.14 An interruption in China is disrespectful, Chinese people expect to be addressed formally without interruptions. Touching in china is inappropriate, especially on arrival. One should not touch people since it makes them uncomfortable. Touching is encouraged in Latin cultures. In Japan, touching is not frequently used. Facial gazing in China is disrespectful; foreigners are required to be careful when having an eye contact with other people especially in social settings.15 Facial gazing in America is used as a sign of challenging a person. In the Middle East, facial gazing can be used as a complement. 2. What are some of the differences in risk tolerance around the world? What is the role of risk propensity in the decision-making process? Differences in risk tolerances explain the various attitudes towards risk around the world. Some of the risk tolerance differences around the world include; in the U.S. blacks are found to be risk tolerant than whites because they have less stocks. However, low income whites are more risk tolerant than blacks who earn high incomes. In terms of nationality, some cultures are more risk averse than others. Chinese, U.S Americans, British, French and Indians are considered to have a high risk tolerant.16 Germans are moderate, Spanish, Brazilians as well as Mexicans are risk averters. Japanese are highly risk averse. In central Europe, citizens from Great Britain, Belgium, Germany and France are more risk averse compared to Greeks, Spanish as well as Scandinavians. Chinese people are also risk tolerant than Americans. Risk propensity is determined by the situation in which the decision will be taken. It plays an important role in determining how individuals make decisions under conditions that are risky and eventually determining their outcomes.17 3. Describe what you would expect in negotiations with Germans and how you would handle that situation. Business negotiations must be planned carefully, together with maintaining a clear differentiation among people, places and things is necessary. In business negotiations, there is a strict protocol that should be followed and one should only sit when invited. It is important to understand that, meetings are scheduled with agendas that are strict with start and end times. Negotiations are treated with a lot of formality understanding that bureaucracy is highly upheld. Small talks are minimally encouraged; ones credentials are highly valued for people to get into business. All materials should be printed in both German and English and contacts are followed strictly. A foreigner is required to be patient and should not present themselves as tangled with the strict protocol. Provide details when negotiating since Germans are mostly interested with details before making a business decision. A person should not confront others since it may not be productive. Final decisions once made cannot be changed. 18 When negotiating business dealings in Germany, managers should ensure that they learn and follow strictly the protocol as required in German culture. This will help in achieving productive business negotiations. Week 6 1. Discuss the merits of the following entry strategies – exporting, turnkey projects and wholly-owned subsidiaries. Exporting as a strategy for entering the global market gives a business the opportunity to lean an overseas market before investing in it. This reduces the risks of entering the foreign market. Exporting eliminates the use of intermediaries and encourages the potential for greater profits. It is easy for a business to control transactions and know its customers and engage directly with them.20Turnkey projects provide the business with an advantage of gaining through learning and advanced exporting process technology. This strategy is less risk especially in countries that are politically and economically unstable. It acts a means of exporting process technology. Entering the market as a wholly owned subsidiary, a business enjoys the advantage of competitive advantage through technology competency. With this strategy, the business has less risk of losing its control over the competency. A company has full control of its operations in the various countries and this helps in effectively entering the global market.21 2. What opportunities and threats will likely emerge when a firm decides to move from purely domestic operations to global operations? Businesses are experiencing greater opportunities by expanding their operations in the international market. They are able to realize cost advantages, access of new markets as well as tapping new talent pools. The international market offers businesses with a larger consumer as well as business market. Reduction of costs may be experienced through outsourcing of products and services. There is increased growth of buying power in the international market than the local market where businesses can increase their sales. Businesses also have the opportunity to purchase their products and services globally. However, they are also facing threats from foreign competitors. Businesses also face the challenge of managing foreign culture, currency risk, dealing with issues of taxation, legal and regulatory framework as well as drawing qualifies workers and maintaining them. There are challenges when trying to establish service levels, selecting suppliers, protecting intellectual property in the international market.22 3. As the Korean population is increasingly able to afford high priced items like cars, this market represents a desirable growth opportunity for Japanese, German, and American car makers. However, the Korean automobile market is dominated by Korean car manufacturers (Hyundai, Ssanyong, and Daewoo). Oftentimes, such domination by a domestic manufacturer is blamed on trade barriers, but Korea’s tariffs are among the lowest in the world. Why then do most Koreans drive Korean-made cars? What entry strategy would be most appropriate for accessing this culturally-closed market? Despite the low tariffs in Korea, the automobile market is highly dominated by domestic manufactures because they invest heavily on research and development relative to income. Business and government leaders in Korea recognize the challenge imposed by their competitor in terms of quality and prices. Therefore, they position themselves strategically for the purpose of capitalizing on the new culture when manufacturing automobiles to optimize quality as well as price tradeoffs. The realization of the crisis imposed by quality and price advantage offered by competition countries, Korean automobile manufacturers have been able to improve their products that has offered the advantage of dominating the domestic market.23 The entry strategy most appropriate for accessing this culturally-closed market is implementing Free Trade Agreements. This will help foreign countries enter the Korean automobile market which is highly dominated by domestic manufactures. Free trade agreements will help in loosening restrictions on international strategies within the Korean automobile market. This will help in loosening restrictions on international strategies and give an opportunity to regional international strategies.24 Week 7 1. Why are there an increasing number of mergers with companies in different industries? Give some examples. There are an increasing number of mergers with companies in different industries because the news firms enjoy an increased market share and reduced competition thereby increasing business profits. There are reduced costs when companies enter into mergers through increased output. This enables consumers to benefit from low prices. Through merging, companies are able to compete internationally by dealing with threats from multinationals. Companies can invest greatly in research and development through mergers. Therefore, improved products in terms of quality are provided to consumers. For example, through merging, companies in the pharmaceutical industry can invest more in research and development to come up with better products in the market. Mergers enable companies to achieve greater efficiency through meriting redundancies. Mergers play a big role in protecting an industry from closing by ensuring that firms remain in operation. 25 For example, when the banking industry was undergoing a crisis, the UK government undertook the initiative to allow a merger between the Lloyds TSB and the HBOS. Through merging, companies from different industries can benefit by sharing knowledge applicable to all. For example, in order to gain from internet and old media, the AOL and Time Warner merged as conglomerates. 2. What are the common sources of incompatibility in cross-border alliances? What can be done in order to minimize them? The common causes of incompatibility in cross border alliances include; varying strategic goals and objectives, disputes over management, control systems and cultural clashes. These pose many challenges to cross border alliances that end into serious managerial as well as financial problems. To minimize incompatibility in cross boarder alliances, managers are advised to embrace acquisitions since they work well for central businesses as well as existing geographic areas. They should embrace alliances when in related businesses and in new geographic markets. They must understand that, alliances that are formed between companies that are weak and strong will never work. The reason is that, these companies do not provide the required skills necessary for business growth, therefore leading to mediocre performance. Autonomy as well as a lot of flexibility must be embraced from the parent companies to enable alliances remain successful. Alliances should be formed on the basis of even split financial ownership and not with one partner holding majority share interest.26 3. How might the variable of national culture affect strategic implementation? Use the Mittal Steel example to highlight some of these factors. The national culture affects strategy implementation in organizations through the mediating process. This is experienced by how the national culture influences the organization’s relationship with the environment and relationships among people in the organization. The national culture affects strategy implementation by impacting on the process through which organizations scrutinize, choose, understand as well as authenticate information for the purpose of identifying and prioritizing strategic issues. In the example of Mittal Steel, directors of the company opposed to the takeover because the CEO was an Idian, the Governments of French, Spanish, British and Luxembourg also opposed the takeover since it was considered as a double standard. The deal did not go through because the Indian Government had issued threats of failing to approve a taxation agreement with Luxembourg because the latter had opposed the deal. Racism is considered to have contributed to the failure of the takeover.27 WEEK 8 1. Explain the need for an MNC to “be global and act local.” How can a firm design its organization to enable this? MNCs need to be global and act local because the primary goal of profit maximization of the business is achieved better through the global objectives. The company is able to achieve both local and global objectives by expanding the market across countries. MNCs need to be global and act local because not all their objectives will be achieved globally due to differences in culture, political system, religion and standards of life. This forms different markets for different consumers. Not all strategies set by MNCs will be preferred in the local market; therefore, any MNC must set objectives that fit in the local market as well as the global market. This will help a lot in minimizing customer misunderstandings, contradictions and anger that would lead to failure of the company in a particular market. A company can design its organization to be global and act global by increasing its number of companies operating globally; planning on how to expand its market internationally and being able satisfy the local customers in every market of operation.28 2. As an international manager, what would make you suggest restructuring of your firm? What other means of direct and indirect monitoring systems could you suggest? There are various reasons as why I would suggest restructuring of my firm to enhance technology, improve efficiency and implement new changes in strategy or governance. I will suggest for restructure to increase business sales by diversifying into new areas, optimize business capacity, do away with divisions that are not adding value to the business and concentrate on the central competencies of the business.29 If there is need to downsize the staff or even alter the business product mix, it is important to restructure the business to fit these new demands in the market. I will also suggest for restructuring of the company to meet new work methods and new management methods. Restructuring can be used when a company wants to improve the quality of its products or want to make innovations with new technology. When merging with another company, I will suggest the company to be restructured. Other means of direct and indirect monitoring systems in a business include; input and output controls, locus of decision making and improved communication. 3. What is a transnational organization? Because many large MNCs are moving toward this format, it is likely that you could at some point be working within this structure—how do you feel about that? Transnational organizations are a type of Multinational corporations that exploit global integration while assuring local keenness, awareness and flexibility. They successfully pursue global efficiency, national sensitivity, development of knowledge and exploitation. 30 The growth of MNCs to transnational organizations encourages the use of subsidiaries in other countries. This allows MNCs to coordinate product offerings in the countries of operations whereby, it is becomes easy to focus products and services to every individual in the local market. MNCs moving toward transnational organizations will enable them have a centralized control over key business resources as well as operations. Organization decisions will also be made on a global perspective. The businesses with benefit through economies of scale, value chain linkages, serve global customers, global branding, leveraging capabilities, world class standardisation, competitive platforms and information advantage.30 WEEK 9 1. Why is the HRM role so much more complex, and important, in the international context? The increase in interconnections of operations in international companies has led to the complexity of the human resource management role. The reason is that, human resource managers in companies now have an extended responsibility to deal with various workers with different needs. The need to consider a workforce with competent knowledge and skills in the global market has contributed to the complexity of the human resource management role. The need for a human resource management which is strong is important in the international context due to diversity in selecting a diverse and competent workforce. International businesses require a large workforce that increases the human resource management role complexity. The human resource management plays an important role in the international market, since local businesses are hiring workers with technological expertise from foreign countries. This helps in bringing new knowledge to local workers.31 2. Explain the common causes of expatriate failure. The common causes of expatriate failure include; poor candidate selection, wrong opinion of intercultural trainings' and their usefulness by expatriates, lack of cultural knowledge and responsibility overload. Expatriate failure is experienced when a company uses a criteria which is one sided to select the candidate. Concentrating on managers technical skills without considering cross cultural knowledge is a common cause of expatriate failure. Companies are found to wrongly perceive the usefulness of intercultural trainings to expatriates. Perceiving that cross cultural training is for future expatriates is wrong. Companies should recognize the need for offering their employees with more training on cross cultures. It is also difficult for international human resource managers to determine whether the training offered to employees is sufficient. Expatriates failure is highly caused by lack of understanding of the other culture. They are not able to make any meaning of other people’s behaviour, and therefore failing to achieve the desired results. Other expatriates are overloaded with responsibility which increases their stress apart from staying far from their families. This is experienced when expatriates find some values that are not ethical to be upheld in the foreign country.32 3. Do you have what it takes to make a good expatriate? What are your strengths and what aspects need improvement? Being a good expatriate requires understanding one’s difference characteristics, cultural differences, openness to experience and being able to agree with others.33 I have what it takes to be a good expatriate because i know what to expect from my new country including culture, language, food, lifestyle, art, history and national past times. I understand that, while in a foreign country, homesick is normal and i should be able to adjust with my new environment. I understand that different people from different cultures have different ways of making friends. I must respect them without changing attitudes. When am in a new country, i should do things the way they are done there. I must adjust to the new culture and way of living in the foreign country. I also anticipate culture shock; therefore, i must have effective strategies for dealing with them as they arise. However, i have the challenge of being patient with myself and others. . Notes 1. Philip Brey, Evaluating the Social and Cultural Implications of the Internet. Department of Philosophy. University of Twente. The Netherlands. 2012: 1-14. Retrieved from http://ethicsandtechnology.eu/wp-content/uploads/2012/10/a1-brey.pdf 2. Ibid., 4. 3. Isaac J. Hepburn, International Business Management. 2011:119. Retrieved from http://isaacjhepburn.blogspot.com/2011/08/international-business-management.html 4. Ibid., 119. 5. Jens Korff, Stereotypes & prejudice of ‘Aboriginal Australia. Creative Spirits. 2012. Retrieved from http://www.creativespirits.info/aboriginalculture/people/stereotypes-prejudice-of-aboriginal-australia 6. Greg Downey, Tonia Gray and Jan Gothard, Stereotypes: A resource for studying abroad. Australian Learning & Teaching Council. 2012. 23-24. Retrieved from http://www.tlc.murdoch.edu.au/project/btlh/resources/BTLH%20stereotypes%20instructorguide.pdf 7. James Adonis, Culture shock: working on foreign shores. 2011. Retrieved from http://www.smh.com.au/small-business/blogs/work-in-progress/culture-shock-working-on-foreign-shores-20111028-1mmgo.html 8. KPMG, Going Social: How Businesses Are Making The Most Of Social Media. KPMG International.2011.1-28.Retrievedfrom http://www.kpmg.com/ES/es/ActualidadyNovedades/ArticulosyPublicaciones/Documents/Going-Social.pdf 9. Trisha Dowerah Baruah, "Effectiveness of Social Media as a tool of communication and its potential for technology enabled connections”: A micro-level study. International Journal of Scientific and Research Publications, 2, no.5, (2012): 1-10. Retrieved from http://www.ijsrp.org/research_paper_may2012/ijsrp-may-2012-24.pdf 10. David ELMES, The Relationship between Language and Culture. National Institute of Fitness and Sports in Kanoya. International Exchange and Language Education Center. 2010.1-8. Retrieved from http://www2.lib.nifs-k.ac.jp/HPBU/annals/an46/46-11.pdf 11. Stern H. H. Fundamental concepts of language teaching. Oxford: Oxford University Press. 2009. 12. Sam Diener, Body Language in Different Cultures. 2009. Retrieved from http://www.samdiener.com/2009/10/body-language-in-different-cultures/ 13. Nina Mujezinovic, The Importance of Non-Verbal Communication In Business. 2011. 11- 49.Retrievedfrom http://dspace.k.utb.cz/bitstream/handle/10563/15337/mujezinovic_2011_bp.pdf?sequence=1 14. Mary Ellen Guffey, ‎Richard Almonte, ‎Ausra Maria Karka, Business communication: Process and product: USA: Cengage. 2009. 15. Ashley Bowie, The Effect of Culture on Business Relationships. Neumman University. 2009.Retrievedfrom https://www.neumann.edu/academics/divisions/business/journal/review_08/Bowie.pdf 16. Christoph S. Weber, Cultural Differences in Risk Tolerance. IWE Working Paper No. 01- 2013 ISSN: 1862-0787. Erlangen. 2013. 5-6. Retrieved from http://www.economics.phil.uni-erlangen.de/forschung/workingpapers/riskaversion.pdf 17 The Free Library, General Risk Propensity in Multifaceted Business Decisions: Scale Development.2010.Retrievedfrom http://www.thefreelibrary.com/General+risk+propensity+in+multifaceted+business+decisions%3A+scale...-a0224100643 18. James K. Sebenius, Assess, Don’t Assume, Part I: Etiquette and National Culture in Negotiation. Working Paper. 10-048. Harvard Business School. 2009. 2-22. Retrieved from http://www.hbs.edu/faculty/Publication%20Files/10-048.pdf 19. Laurel Delaney, Direct Exporting: Advantages and Disadvantages to Direct Exporting: Developing a Foreign Market Entry Strategy. Retrieved from http://importexport.about.com/od/DevelopingSalesAndDistribution/a/Direct-Exporting-Advantages-And-Disadvantages-To-Direct-Exporting.htm 20.Geeta Shiromani, Foreign market entry strategies. 2011. Retrieved from http://www.slideshare.net/geeta_123/foreign-market-entry-strategies 21. JMI, Modes of Entry: International Business Analysis. Foreign Market Analysis. 2009. Retrieved from http://www.slideshare.net/aleem_ab2002/modes-of-entry 22. Financial Executives Research Foundation, Going Global: International Outlook For Private Companies. Deloitte Development LLC. 2009. 4-20. Retrieved from http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/us_tax_goingglobal_030509%281%29.pdf 23. Mckinsey and Company, South Korea: Finding its place on the world stage. 2010. Retrievedfrom http://www.mckinsey.com/insights/winning_in_emerging_markets/south_korea_finding_its_place_on_the_world_stage 24.  Michael Hitt, R. Duane Ireland, Robert Hoskisson, Strategic Management: Competitiveness and Globalization. Concepts. 1 (2009):144. 25. Tejvan R Pettinger, Benefits of Mergers. 2014. Retrieved from http://www.economicshelp.org/microessays/competition/benefits-mergers/ 26. Joel Bleeke and David Ernst, The Way to Win in Cross-Border Alliances. Havard, Business Review. 2014. Retrieved from http://hbr.org/1991/11/the-way-to-win-in-cross-border-alliances/ar/1 27. IDiana P, Ramesh R, Saurabh Singh, Sameer Chaubal, Deepak Choedia, Deepak Shinde, Ferdinand J, Padmanabha Johind M, Arcelor Mittal Merger Case Cross Culture Management. Retreived from http://www.slideshare.net/robvandamm/arcelor-mittal-merger-case-cross-culture-management 28. John Dudovskiy, Think Globally, Act Locally”: A Critical Analysis. Research Methodology: Necessary Knowledge to Conduct a Business Research. 2012. Retrieved from http://research-methodology.net/think-globally-act-locally-a-critical-analysis/ 29. Wendy Finn, 10 Reasons Why You Should Consider Restructuring. 2012. Retrieved from http://www.brighthub.com/office/human-resources/articles/122660.aspx 30. Edward Ferris, What is a transnational organization? Executive Insight. 2009. Retrieved Fromhttp://executiveinsight.typepad.com/executive_insight/2009/09/what-is-a-transnational-organization.html 31. Andries J du Plessis and K. Huntley, Challenges in A Globalised Context For International Human Resource Managers in South African Organisations. International Review of Business Research Papers. 5. No. 1. (2009): 413- 427. Retrieved from http://www.bizresearchpapers.com/33%5B1%5D.%20Andries.pdf 32. Katharina Wagner, The Most Common Causes of Expatriate Failure. 2012. Retrieved from http://www.dialogin.com/fileadmin/Files/User_uploads/29Katharina%20Wagner_Causes%20of%20Expatriate%20Failure.pdf 33. Eyad Aljubran, Understanding Expatriate Assignments: Location, Promotion, and Individual Difference Characteristics. College of Business Administration: California StateUniversity.2009.Retrievedfrom http://www.csulb.edu/colleges/cba/honors/thesis/documents/Eyad_Thesis.pdf Bibliography Andries J du Plessis and K. Huntley, Challenges in A Globalised Context For International Human Resource Managers in South African Organisations. International Review of Business Research Papers. 5. No. 1. (2009): 413- 427. Retrieved from http://www.bizresearchpapers.com/33%5B1%5D.%20Andries.pdf Ashley Bowie, The Effect of Culture on Business Relationships. Neumman University. 2009.Retrievedfrom https://www.neumann.edu/academics/divisions/business/journal/review_08/Bowie.pdf Christoph S. Weber, Cultural Differences in Risk Tolerance. IWE Working Paper No. 01- 2013ISSN:1862-0787.Erlangen.2013.5-6.Retrievedfrom http://www.economics.phil.uni-erlangen.de/forschung/workingpapers/riskaversion.pdf David ELMES, The Relationship between Language and Culture. National Institute of Fitness and Sports in Kanoya. International Exchange and Language Education Center. 2010.1-8. Retrieved from http://www2.lib.nifs-k.ac.jp/HPBU/annals/an46/46-11.pdf Edward Ferris, What is a transnational organization? Executive Insight. 2009. Retrieved from http://executiveinsight.typepad.com/executive_insight/2009/09/what-is-a-transnational-organization.html Eyad Aljubran, Understanding Expatriate Assignments: Location, Promotion, and Individual Difference Characteristics. College of Business Administration: California State University. 2009. Retrieved from http://www.csulb.edu/colleges/cba/honors/thesis/documents/Eyad_Thesis.pdf Financial Executives Research Foundation, Going Global: International Outlook For Private Companies. Deloitte Development LLC. 2009. 4-20. Retrieved from http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/us_tax_goingglobal_030509%281%29.pdf The Free Library, General Risk Propensity in Multifaceted Business Decisions: Scale Development. 2010. Retrieved from http://www.thefreelibrary.com/General+risk+propensity+in+multifaceted+business+decisions%3A+scale...-a0224100643 Geeta Shiromani, Foreign market entry strategies. 2011. Retrieved from http://www.slideshare.net/geeta_123/foreign-market-entry-strategies Greg Downey, Tonia Gray and Jan Gothard, Stereotypes: A resource for studying abroad. Australian Learning & Teaching Council. 2012. 23-24. Retrieved from http://www.tlc.murdoch.edu.au/project/btlh/resources/BTLH%20stereotypes%20instructorguide.pdf IDiana P, Ramesh R, Saurabh Singh, Sameer Chaubal, Deepak Choedia, Deepak Shinde, Ferdinand J, Padmanabha Johind M, Arcelor Mittal Merger Case Cross Culture Management. Retreived from http://www.slideshare.net/robvandamm/arcelor-mittal-merger-case-cross-culture-management Isaac J. Hepburn, International Business Management. 2011:119. Retrieved from http://isaacjhepburn.blogspot.com/2011/08/international-business-management.html James Adonis, Culture shock: working on foreign shores. 2011. Retrieved from http://www.smh.com.au/small-business/blogs/work-in-progress/culture-shock-working-on-foreign-shores-20111028-1mmgo.html James K. Sebenius, Assess, Don’t Assume, Part I: Etiquette and National Culture in Negotiation. Working Paper. 10-048. Harvard Business School. 2009. 2-22. Retrieved from http://www.hbs.edu/faculty/Publication%20Files/10-048.pdf Jens Korff, Stereotypes & prejudice of ‘Aboriginal Australia. Creative Spirits. 2012. Retrieved from http://www.creativespirits.info/aboriginalculture/people/stereotypes-prejudice-of-aboriginal-australia JMI, Modes of Entry: International Business Analysis. Foreign Market Analysis. 2009. Retrieved from http://www.slideshare.net/aleem_ab2002/modes-of-entry Joel Bleeke and David Ernst, The Way to Win in Cross-Border Alliances. Havard, Business Review. 2014. Retrieved from http://hbr.org/1991/11/the-way-to-win-in-cross-border-alliances/ar/1 John Dudovskiy, Think Globally, Act Locally”: A Critical Analysis. Research Methodology: Necessary Knowledge to Conduct a Business Research. 2012. Retrieved from http://research-methodology.net/think-globally-act-locally-a-critical-analysis/ Katharina Wagner, The Most Common Causes of Expatriate Failure. 2012. Retrieved from http://www.dialogin.com/fileadmin/Files/User_uploads/29Katharina%20Wagner_Causes%20of%20Expatriate%20Failure.pdf KPMG, Going Social: How Businesses Are Making The Most Of Social Media. KPMG International. 2011. 1-28. Retrieved from http://www.kpmg.com/ES/es/ActualidadyNovedades/ArticulosyPublicaciones/Documents/Going-Social.pdf Laurel Delaney, Direct Exporting: Advantages and Disadvantages to Direct Exporting: Developing a Foreign Market Entry Strategy. Retrieved from http://importexport.about.com/od/DevelopingSalesAndDistribution/a/Direct-Exporting-Advantages-And-Disadvantages-To-Direct-Exporting.htm Mary Ellen Guffey, ‎Richard Almonte, ‎Ausra Maria Karka, Business communication: Process and product: USA: Cengage. 2009. Mckinsey and Company, South Korea: Finding its place on the world stage. 2010. 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