Question

You need to discuss the framework and environment in which international managers operate as well as stress the need for developing a global mindset in order for the businesses to be successful. In your opinion, which two qualities would be critical in this mindset and why? From your point of view, which two global events and trends would you note as the most influential for the international business environment nowadays? Provide a clear explanation of your choice. Be sure to support the analysis with the particular example of the successful international manager using the articles from The Wall Street Journal, The New York Times or The Economist.

Answer 1

International managers operate under global uncertainty, volatility in stock prices and fluctuating exchanges rate as well as changing customer preferences and stringent compliance to global laws and cultural dissonance.

However to remain competitive, managers need to have cultural intelligence and cross domain experience in managing different cultural dynamics.

Best traits for global manager are Emotional Intelligence and Leadership which are important and critical to success of global firms.

Global trends like the convergence of US gAAP and IFRS accounting standards, coupled with double taxation avoiding agreements between nations have most influence in global organisation.

This ha shelped firms to remain tax compliant using best of breed methodology and also be tax efficient and tax buoyant. It has lowered compliance and legal costs amd additional manpower and move ase to new nations with relaxed laws and high trading standards.

Schott, Jeffrey, 2004. Free trade agreements :US strategy and Priorities. Washington: Institute for International economics

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