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1 page/β‰ˆ275 words
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Management
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Challenges Facing Global Businesses and Ways of Addressing Them

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You need to write a general discussion on the challenges of how global organisations from every industry are struggling to keep pace with the changing business landscape.
Discuss how the transference of HRM practices across countries can be highly complex and challenging for MNCs, as HR is often a country-bounded resource. Talk about about the concept of global leaders and how a MNC might address this, e.g. through a program based on organisational position and strategy that is accessible across the entire organisation.
Also, consider SHRM planning on a global scale with specific reference to China and Europe - Europe as a continent is made up of 43 countries with 27 currently belonging to the European Union (at the moment). HR planning requires a MNC to be cognisant of the intrinsic variables that influence different European countries.

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Challenges Facing Global Businesses
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Challenges Facing Global Businesses
Multinational corporations (MNCs) are characterized by urgent and evolving contexts which prompts them to scale on global markets, particularly driven by emerging technologies, new competitors, evolving market trends, human resources practices, and diversified employee demographics. According to a report by McKinsey, the impact of COVID-19 has affected human resource practices across international organizations (Am et al., 2020, p.10). In this context, the human resources management (HRM) diffusion and transference on MNCs’ activities have significantly impacted the competitive edge and performance of global organizations and their subsidiaries. Accordingly, transferring HRM practices across different geographical areas has become a challenge predominantly due to differential macroeconomic factors. For example, human resource managers find it challenging to adopt three primary policies across a global business context. These factors are anchored on global frameworks, ethnocentric, and polycentric approaches (Abel et al., 2013, p.14). Consequently, organizational practices have been based on localized cultural norms. Therefore, HRM practices must become charismatic and based on participative decisions and power integration to manage the transference challenges to motivate human resource diffusion without force.
A significant deal of strategic human resource management (SHRM) practices are founded ...
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