The business world today has changed greatly from what it was before, especially in terms of international business strategy. In an increasingly globalised world, businesses are being pushed to operate across different countries and continents.
In this article, we will take a look at organisational culture in international business, international management business tips and some successful international business management examples. No matter where your employees are located, Sinnaps project management tool allows you to centralise communication.
Organisational Culture in International Business
Part of any organisation is the organisational culture. This is what describes the atmosphere of the business and the general notion of how that business ‘gets things done.’ The organisational culture of a business should be one that fosters a positive working environment where employees are motivated to do their best and to reach their potential.
In global business management, there are several implications for developing an effective organisational culture. In an international context, organisations may see different cultures and backgrounds. The international business strategy should be focused on fostering a culture of respect and tolerance as well as a recognition that through diversity comes success.
Cooperation and collaboration should be highly valued as well as establishing consistent and open communication, which Sinnaps project management cloud-based app can help to take care of. It is key for global companies to keep the diversity of corporate cultures in mind in terms of the international business communication strategy and to develop strategies that respect cultures while being equally effective.
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International Management Business Tips
When considering international expansion, there are a few key points to consider, especially with regards to international business administration:
- International business managers should know the finance and marketing strategies applicable in the countries to which they are expanding.
- The economic status of the country should also be researched and understood before beginning operations
- International laws must be considered and followed in terms of trading.
- Business managers should invest time and effort in learning about international business management.
- Research is your best friend.
- Businesses should seek legal support and local resources or people to be their initial guide in the new marketplace.
- It is important to respect the customs and culture you are in.
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International Business Management Examples
Apple: Apple is one of the most recognised brands and companies across the world. This has come down to a well-executed international business strategy that has been developed since the company was founded in 1976. Apple has pursued a unique innovation strategy and has solidified its position in many international markets across the world. Consistency in products, service and quality are pushed in every country that Apple operates in and this is what makes it one of the most successful international business management examples.
IBM: IBM is a technology corporation that has successfully become a global business. Its profits have been reaching record highs in recent years, something that goes to show the positive effects of internationalisation on an international business management salary and has largely come down to its effective international business strategy. Another reason for IBM’s success is constantly researching and predicting future trends and investing in areas such as artificial intelligence, and self-healing computer technology. Other factors contributing to their success include ongoing efforts to create solutions for world problems, such as the management of water, Smarter Planet, and positive growth in Brazil, India, China, and Russia.
Red Bull: Red bull’s success in global business management is seen in the fact that people forget that it is originally an Austrian brand. People automatically assume that it is American due to its successful internationalisation strategies. Essentially their global success comes down to their global marketing success. Red bull hosts extreme sport events and adapts where and what event they will be hosting taking into consideration each country and location.
Overall, the world is becoming increasingly globalised and an international business strategy is becoming imperative for many growing companies. With this come several implications and points to consider so as to effectively expand and gain an international presence.
In this article, we covered some of those main points and went through some successful international business management examples.
With Sinnaps, your company will be able to complete projects efficiently and effectively no matter where your team members may be in an international context. Try it for yourself today!