There are many personal challenges that confront managers in multinational companies in this age of globalization. Among them are:
- The challenge of adapting to foreign cultures. Managers in such corporations might have to live in foreign countries and deal with foreign workers. Even if they don't, they might still have to work with colleagues from other countries or foreign suppliers and customers. Both of these (though especially the first) challenge managers to be able to understand and accomodate differences in the cultures of those with whom they work.
- The challenge of maintaining a happy family when sent to a foreign country. In such cases, managers might have to deal with spouses who cannot get jobs and are therefore not satisfied. They might have to worry about finding good educational opportunities for their children, ones that will allow the children to fit back into the educational system when they return to their home country.
problems use to be,
distance, solved by instant communications today
language, solved by instant transulators built into computers
cultures is still a issue, time difference is still a issue but
"number 1" issue facing a global manager is money valuation.
since 2000 the dollar use to move in pips or a penny at a time. but it has been moving sometimes at $1 or more in one day compared to before 2000 would be 1 or 2 pips a month.
"number 2" I would say sleep, since business is done 24 hours a day in a global company. sometimes it is 24 X 7 days.
the two different personal challenges of global managers are as listed below;-
1. multiculture effects
2. variation in ethical practices.