Unit 2 Contemporary Hospitality Industry Assignment

International Business Market Assignment Help

Introduction

In the business world there are a lot of companies that operate in the different sectors of the economy and the role that they play in the market is determined by the culture and the structure that the business management follows in the company. As a basic rule of the business market there are many different people who are associated with the working of the company and they all have different cultures and backgrounds which has to be kept in mind by the management while they take the decisions for the company and this is so that they can have a successful tenure in the business market. The employees are an International Business Market Assignment Helpimportant asset for the company and it is the duty of the management to make sure that they are happy and connected with the company at all times and this can be done if the working of the company is stitched around the needs and demands of the employees. In this assignment, there will be a discussion about the way the management of a company, which operates on the international level, should carry out the operations and also upon their usage of cross cultural management with reference to Home Furniture Ltd. (Ryan, 2008

Multinational companies and international market

When talking about the international business market there is a lot that has to be kept in mind by both the researchers and the companies of the market because the factors that run in the business market are intensified in the international market and the companies which operate at this level need to be very strong on the managerial techniques and tools as there is a lot at stake for the companies to loose and they cannot take any risks. The companies that operate in the international market like the Home Furniture Ltd need to be very careful about the hold they have on the employees and this is because there is a lot of geographical distance between he different branches of the company and also a lot of cultural different between the management and the employees of the company. The management has to make sure that the decisions that they take for the future of the company are not just take for the company in the business market but also for the career growth of the employees of the company keeping in mind that they have different backgrounds and different aspirations depending up on their country and culture. (Pons, 2013)

Relevance of cross cultural management

The working of the business market is a very complicated process to understand and even more difficult for the companies to be able to survive in this process and this is the reason that there are many tools and techniques which are practiced in the business market and they are there for the assistance of the companies like the Home Furniture Ltd. One of the many processes of the international business market is the concept of cross cultural management which helps the management of the companies to be able to successfully manage the employees that come from different background and culture and generate diversity in the company. The difference in the culture and the background of the employees makes them have different aspirations and expectations from the management of the company that they work. Cross cultural management helps the management of Home Furniture Ltd to have a hand over the employees as they can have a balance in the company by providing for the needs of all the employees and this is even used by the companies which have different operating sectors in different parts of the world and have to be careful about the operations that they do in the business market. (Pirraglia, 2010)

Advantages of cross cultural management

When a company uses  a certain technique to carry out the operations of the company there have to be certain advantages that have to be attached to the process so that it help the management of the company to attain the success that hey have aimed for and the same is the case with management of the company of Home Furniture Ltd as well and they use the process of cross cultural management as it firstly helps the management to have a certain degree of hold over the employees of the company that are spread in the different parts of the world like Finland, Asia, north America etc. secondly it also helps the management of the company to understand the different needs and demands of the people that they can then fulfill with their resources and make sure that the employees give their best to achieve the goals that have been set by the management. Third is that it makes it more easy for the management of the company of Home Furniture Ltd to be able to manage the work that they do in the different parts of the world under the same brand of Home Furniture Ltd. (Riman, Gothesson, 2004)

Disadvantages of cross cultural management

Like every coin has two sides, the same is the case with the tools and techniques of the business market as well and at times it happens that the success that the management has aimed from the application of a certain process of the market is not attained and they have to bear the consequences of the decisions that they have made. The same is the case with the process of cross cultural management as well, the advantages of the same were discussed in the last leg of the essay and the disadvantages of the process will be discussed here. The first disadvantage is that keeping a track of the different background and expectations of the employees of the company will be a lot of work for the management especially of a company like Home Furniture Ltd and since they keep chaining from time to time depending up on the business market and the society, it is going to be all the more difficult for the management. The second disadvantage is that the process is going to highlight the demands and needs of the majority of the company and this can cause a drift with the minority section of the employees. (Espina, 2013)

Problems related with national cultural diversity

National diversity is something that is going to be faced by the management of the company of Home Furniture Ltd in all the countries that it operates in especially in the ones in which it is planning to expand their operations which are India and china and this can be a huge issue for the company if it not handled in the right manner. It is quite possible that the people who are from different communities can have problems with each other and will have a negative impact on the operations of the company if they are put together. Another issue that the management of Home Furniture Ltd can face when it comes to national diversity is that people from different communities can have their own working style which may or may not blend with each other and if such a  situation arises in the company it will difficult for them to work together. One of the biggest issues that they can come across is that the needs and expectations of people with different background will be different from one another and the management of the company will have to invest a lot to be able to accommodate them. (Phillipallan, 2011)

Leadership in Home Furniture Ltd

The management of the company of Home Furniture Ltd has to be very careful about the way they draft the leadership in the working of the company and the decision should be made keeping in mind that different countries have different needs, therefore it can be said that the leadership in the branch of north America would be autocratic whereas in Asia it would be good for the company to have the democratic leadership style. All this is because the people in the different parts of the world have a different psychology and the leadership has to be drafted in a way that the employees can be motivated in the best possible way. The management in the main headquarters of the company should giveaway this decision to the head of the respective branch so that they can take the decision depending upon the working style that they follow in their place and the main management of the company can keep tabs on the results that they get out their decisions making. Leadership is an important part of the working of the company and especially for the companies like the Home Furniture Ltd has to be careful about the way it is decided. (Jamieson, 2012)

Decision making in Home Furniture Ltd

The decisions that are taken by the management of the company like the Home Furniture Ltd have to be taken with a lot of care since they operate in the international business market and they have a lot at stake that thy can loose with one wrong decision. But at the same time there are certain issues that have to be addressed by the management of the company so that the decision making process can be carried out with a  lot of ease and that happens to be the different cultural employees that they have working for the company. The management will have to keep in mind the suggestions and the feedbacks of the differently cultured employees and they have to make sure that the decision that they make for the future will be accepted by all of them considering that they all come from different cultures and backgrounds. For this it will best for the management of Home Furniture Ltd to consider the expectations and the aspirations of all the employees and since they cannot fulfill the demands of all them, they should go for the greater good for greater number of employees in Home Furniture Ltd. (Dunning, 1989)

HRM in Home Furniture Ltd

The employees happen to be the biggest asset for the companies in the current times and therefore it is the duty of the management of the company to ensure that the employees are at all times happy and content with the offering of the company and that they are ready to give in their best for the future of the company. This is the reason that the human resource department of the company of Home Furniture Ltd has to be on their best foot forward since they are the ones who are going to be handling the diversity that is there in the employee base of the company. The most important duty of the human resource department is to keep track of the different needs and demands of the employees of the company and that too in all the different branches and operating centers of the company and then also find the common link between them which can be used by the team to make sure that the employees are on the same line as the management of the company. For this it will be best to take inputs from the branch heads in every center and then compile them. (Roth and Morrison, 1990)

Conclusion

All the points that have been stated in this assignment have been said after a good and deep study of the trends and patterns of the business market and also about the working conditions that are followed in Home Furniture Ltd. It is now safe to say that the company has done a very good job so far in order to manage the work that they have in different parts of the world like in Asia, North America and Finland. It is now that the company is planning to expand their working in countries like china and India and this can be a good thing for the company to get a good trip on the international market in a much stronger manner. This can only be done if the management of the company has a good cross cultural management which can help them to balance the demands and the needs of the employees that are there in the company from different cultures and background. In order to conclude this assignment, it will be safe to say that the working in the international market is a lot of work and it is not possible for every company to pull this through.

References

Dunning, J. H., (1989), Multinational Enterprises and the Growth of Services, The Service Industries Journal, [Journal], [Accessed 30 March 2016]
PepsiCo, (2014), Our History, [Online], Available: Order Now

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