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Abey Francis, Author at MBA Knowledge Base - Page 418 of 674

Decision Making Process in Management

Decision making process is an important part of new era management. This is the main function of management where the manager responsibility to make a best decision. Efficient decision making involve a series of steps that require the input of information at different stages of the process, as well as a process feedback. According to the rational model, the decision making process can be illustrate into six steps.

The first component of decision making process is recognizing the requirement of decision. The requirement can be as a problem or opportunity. A problem can be occurs when the organization performance are below their target and unsatisfied.… Read the rest

Cross Cultural Decision Making – Programmed and Non-Programmed Decision Making

It is becoming quite apparent that businesses, big and small, need to understand how decision making affects their entire operations. When making decisions, managers in organizations apply either a programmed or a non programmed decision  making process. Both processes are affected by the culture of the society in which the decision is being made. For example, mangers in countries with relatively low tolerance for ambiguity, such as Japan and Germany, avoid non programmed decisions as making. Operating manuals in organizations in these cultures tend to be relatively thick. In contrast, mangers in countries with relatively high tolerance for ambiguity, such as the United States and Norway, seek responsibility for non-programmed decision making.… Read the rest

The Skills and Knowledge of Succesfull Negotiators

Negotiator is the key person for the profitable survival of the organization in a competitive world. Negotiation as an art requires certain inherent qualities of an individual that makes the negotiator more dynamic and natural. Skillful managers must assess many factors when managing international business negotiations. The successful management of intercultural negotiations requires that manager go beyond a generalized understanding of the issues and variables involve. The negotiator must have the knowledge about the following things.

  1. Value: Business negotiators must make sure that they have an intelligent understanding of the facts that are the basis for any negotiation. Failure to gather & understand the relevant facts that support optimal deal making will result in a failed negotiation or negotiations where value or resources are left on the table.
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The Cultural Context of Business Negotiations

Considering the potential problems in cross-cultural business negotiations, particularly when you mix managers from relationship-oriented cultures with those form information oriented ones, it is a wonder that any international business gets done at all obviously, and the economic imperatives of global trade make much of if happen despite the potential pitfalls. But an appreciation of cultural differences can lead to even better international commercial transaction-it is not just business deals but highly profitable relationships that are the real goal of international business negotiation. For the efficient and effective international business negotiations few steps are important. Which includes:

  1. Selection of the appropriate negotiation team.
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International Asset Protection

Company’s investments and other assets in foreign countries may face the risk of expropriation. Governments are therefore concerned about the protection of the interests of their national companies in the foreign countries. The potential risk was more before the worldwide liberalization set in the 1980s.

Important protective measures in this respect include the following:

Coercion and Pressure

Until the Second World War, home countries used military force and coercion to ensure that host governments would give foreign investors prompt, adequate, and effective compensation in cases of expropriation, under a concept known as the international standard of fair dealing. It may be noted that the home countries of the companies involved were developed ones and the host countries were developing nations and these host countries had little to say about this standard.… Read the rest

International Business Negotiations

In a number of cases the foreign market entry and strategy implementation involve negotiation with the government of the foreign country and / or foreign firm. International business plans “are always often implemented through, face-to-face negotiations with business partners and customers from foreign countries. The sales of goods and services, the management of distribution channels, the contracting for marketing research and advertising services, licensing and franchise agreements and strategic alliances all require managers from different cultures to sit and talk with one another to exchange ideas and express needs and preferences. Executives must also negotiate with representatives of foreign governments who might approve a variety of their marketing actions’ or in fact be the actual ultimate customer for goods’ and services.… Read the rest