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want to get into global market with minimal investment may start with global sourcing (also called global outsourcing), which is purchasing aterials or labor from around the world wherever it is cheapest. The goal:take advantage of lower costs in order to be more competitive. For insence, Massachusett General Hospital uses radiologists in India to interpret CT scans. Although global sourcing may be the first step to going international for many companies, they often continue to ise this approach because of the competitive advantages it offers. Each successive stage of going international beyond global sourcing however, requires more investment and thus entails more risk for the organization.
4) Some researchershave suggested that managers need Cultural intelligence or cultural awareness and sensitivity skills. Cultural intelligence encompasses three main dimensions: a)knowledge of culture as a concept- how cultures vary and how they affect behavior; b) minfulnesss- the ability to pay attention to signals and reactions in different cross-cultural situations; and c) behavioral skills- using one’s knowledge and mindfulness to chose appropriate behaviors in those situations.
Chapter 4
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Chapter 3 | | | Benefits of Workforce Diversity |