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Essay Available:
Pages:
13 pages/β‰ˆ3575 words
Sources:
10 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 56.16
Topic:

International Firms and the International Management Functions

Essay Instructions:

Essay




Write a 3,500 word essay on how contemporary international firms practice the following international management functions: political risk management, ethical behaviour, and human resource management. See essay structure/content section below for specifics.




The central purpose of your essay is explaining and discussing the above international management functions. However, you must also identify:




      Any relationships or connections between the functions (ethics, political risk management and HR management)




      Any changes or new patterns of corporate behaviour that have emerged in each of these areas.




The essay should include relevant academic literature/research in support. This means your explanations and discussions have to be supported with citations and/or quotes. Although you will be able to identify relevant studies in the reference list in the lecture slides, you are strongly advised to identify and collect other studies through own research efforts on google scholar and/or through the e-journal portals within library gate (such as pro-quest, emerald, business source complete).




But you should further support your discussion with recent corporate examples (from the last three years).  Use brief vignettes of corporate examples, and not to overboard the essay with examples. Please ensure your examples are relevant to the argument (s) you are making and are sourced/referenced.




 Required Essay Structure and Content





  • Introduction (between 150 and 200 words)

  • Main section:




The main thrust of the essay should include a discussion on the following topics:





  1. A.      Explain and contrast the strategies to manage international political risk.

  2. B.      Explain and contrast the purpose and implications of two ethical theories for managing ethics within international business.

  3. C.      Explain and contrast the various approaches to staffing (including the ethnocentric, polycentric and geocentric staffing models, and the choice of women managers).




The space afforded to A, B and C should be fairly balanced but does not have to be exact.





  • Conclusion (between 150 and 200 words).

Essay Sample Content Preview:

Practices of International Firms
Author's Name
The Institutional Affiliation
Course Number and Name
Instructor Name
Assignment Due Date
Practices of International Firms
Introduction
International business has become increasingly complex in recent years, with companies facing various political, ethical, and human resource challenges when operating across borders (Owen, n.dB). Companies need to implement robust risk management strategies that account for these factors to navigate this landscape. International political risk management (IPRM) involves identifying and mitigating the potential risks that arise from political instability, geopolitical tensions, and regulatory changes in the countries where a company operates (Kobrin, 2022). On the other hand, ethical management refers to the practice of conducting business in a socially responsible and sustainable manner, per ethical principles and values. This involves establishing ethical guidelines and policies that govern a company's behavior, promoting transparency and accountability, and ensuring compliance with applicable laws and regulations. Human resource management in the international sphere is crucial for ensuring that a company's workforce is effectively managed across borders (Azizi et al., 2021). This includes developing policies and practices that promote cultural sensitivity, diversity, and inclusivity and ensuring compliance with local labor laws and regulations. Overall, these three management areas are critical for companies operating in the international sphere. By effectively managing political risk, conducting business ethically, and managing human resources, companies can mitigate potential risks, enhance their reputation, and establish a sustainable and responsible presence in the global marketplace.
International Political Risk Management
International political risk management involves identifying potential risks and developing mitigation strategies. Political risk can take many forms, including regulatory changes, currency fluctuations, expropriation of assets, and civil unrest. Companies need to understand the political environment of the countries where they operate and develop contingency plans to manage risks. For example, a company may diversify its investments across multiple countries or establish joint ventures with local partners to reduce political risks. International political management manages political risks associated with cross-border business operations, assets, and trade (Owen, n.d D). Global political management is critical to business abroad in today's interconnected world. It involves understanding a foreign country's political, social, and economic conditions and taking proactive steps to mitigate risks that may arise from changes in these conditions.
International political risk arises from the uncertainty and unpredictability of the political environment in a foreign country. Political risks can take many forms, including changes in government policies, civil unrest, terrorist attacks, and the expropriation of assets (Owen, n.d E). For example, a company that invests in a foreign country may face the risk of confiscation if the government decides to nationalize its assets. For example, the UK's decision to ...
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