International Business Strategy LON301BUS Functional Area Excellence Unit: 5 Knowledgecast: 2

Communicate an in-depth understanding of the complexity of the environment and its applications on decision-making process Assess current developments in the organisational environment and alternative responses related to strategy Module Learning Outcomes

International Human Resource Management “The planning, selection, training,employment and evaluation of employees for international operations.” (Cavusgil et al, 2007:548)

Three Employee Categories Host Country Nationals (HNCs) Parent Country Nationals (PCNs) Third Country Nationals (TCNs)

Complexity of IHRM Complexity Greater involvement in employees lives The need for a broader perspective New HR Responsibilities External influences Greater risk exposure Managing diversity

Keys Tasks in IHRM TaskStrategic Goal Example Challenge International Staffing Policy Develop Global Managers Cultivate Global Mindsets Preparation and Training of Employees Train employees with an emphasis on area studies Minimize culture shock International Performance Appraisal Assess how managers perform abroad Establish uniform organisationwide performance benchmarks

Financial Management and Accounting in the International Firm Tasks 2. Raise funds for the Firm 1. Decide on the capital structure 6. Manage diversity of international practices 5. Currency Risk Management 4. Capital Budgeting 3. Working Capital and Cash Flow Management

Communicate an in-depth understanding of the complexity of the environment and its applications on decision-making process Huge complexity in managing diverse human resource Assess current developments in the organisational environment and alternative responses related to strategy  Increasing harmonisation of cross-national accounting practices enables international organisations to simplify reporting. Knowledgecast Summary

Regular Assignment – Presentations Your module tutor will allocate you a time to make your assessed presentation during this session. Seminar

Regular Assignment – Presentations Your module tutor will allocate you a time to make your assessed presentation during this session. Group Activity