Page 259 - DMGT548_GLOBAL_HRM

Global HRM

Notes  Ethics and corporate social responsibility are important factors but complex issues.
 International managers must expect managers from other cultures to apply different criteria
in making ethical decisions and that such choices are heavily influenced by each one’s
culture.
 The scarcity of qualified managers has become a major constraint on the speed with which
multinational companies can expand their international sales.
 Good HR management in a multinational company comes down to getting the right
people in the right jobs in the right places at the right times and at the right cost. These
international managers must then be meshed into a cohesive network in which they
quickly identify and leverge good ideas worldwide.

 The consequent lack of world-wide multi-cultural managerial talent bites into companies’
bottom lines through high staff turnover, high training costs, stagnant market shares,
failed joint ventures and mergers and the high opportunity costs that inevitably follow
bad management selections around the globe.
 Based on the company’s business strategy, activities should be identified that are essential
to achieving success around the world and specify the positions that hold responsibility
for performing them.

 Overseas assignments and cross-border task forces are excellent ways to challenge, develop
and retain good managers.

13.5 Keywords

Corporate Ethics: It refers to the formulation of the internal policies pertaining to the ethical
conduct of employees.
CSR: It a built-in, self-regulating mechanism whereby business would monitor and ensure its
adherence to law, ethical standards, and international norms.
Culture: It is the organisation’s personality revealing the shared values, beliefs and habits of its
members.

Culture Shock: It is the anxiety and feelings of surprise, disorientation, uncertainty; confusion,
etc. felt when people have to operate within a different and unknown cultural or social
environment.
Ethical Absolutists: They believe in the primacy of one’s own culture values.
Ethical Consumerism: It is the intentional purchase of products and services that the customer
considers to be made ethically with a minimal harm to or exploitation of humans, animals
and/or the natural environment.

Ethical Relativists: They believe that there are no universal or international rights and wrongs.
Glass Ceiling: It is an unofficially acknowledged barrier to advancement in a profession, especially
affecting women and members of minorities.

Strategy: It is a plan of action designed to achieve a particular goal.
Talent Management: Finding and retaining quality talent continues to be essential to business
sustainability.

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