International Remuneration (GR7) - Globalization & Total Rewards (Module 1)
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International Compensation, Benefits
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International Compensation, Benefits
International Remuneration (GR7) - Globalization & Total Rewards (Module 1
The effect of globalization on employers and markets
Leads to local changes as traditional economies and culture evolve and transform to adapt to the influence of global market forces.
Globalization
The expansion of tr...
International Remuneration (GR7) - Globalization & Total
Rewards (Module 1
The effect of globalization on employers and markets
Leads to local changes as traditional economies and culture evolve and transform to
adapt to the influence of global market forces.
Globalization
The expansion of trade and economic development that results from the movement of
products, services, technology, capital and human resources throughout the world.
The Affect of Globalization
Domestic competition from foreign companies or because of new business opportunities
abroad
4 Different Business Operations Approaches
Export Company, International Division, Multinational Company and Global Company
Export Company
First overseas operation(s) in place (Doing a modest amount of business)
International Division
Focuses mainly on the home market with some international business activity.
Multinational Company
Conducts business in multiple countries, with operations typically managed locally
following a centrally coordinated strategy.
Global Company
Worldwide operations, whose strategies, resources and technology are utilized globally,
regardless of national or geographic boundaries.
Reasons why organizations globalize
Competitive Survival; Cost Spreading; Trailblazing; The Rule of Three; the Domino
Effect; Effective Technology; Search for Innovation; Benchmarking; Customer Base and
Partnerships; Business expansion
Competitive Survival
Reduced costs (as a result of cheaper labor) or increased profits (through expanded
markets)
Cost Spreading
Realized through mergers, alliances and joint ventures in an effort to share cost for
various capital investments (large-scale product launches or research)
Trailblazing
Attempting to expand into the potentially huge markets of China and India, as well as
emerging locations, such as Vietnam and Russia.
The Rule of Three
Three companies will always garner the lion's share, while those that arrive late receive
only crumbs.
Domino Effect
Success in a new territory makes it easier to enter another. This is true when
intercountry cultures and customs are similar
Effective Technology
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