The MN6061 Cross-culture management and emerging market challenges focus on cross-culture in businesses. Significantly, cross-culture management happens when a manager oversees employees from a culture. That is other than her own or when employees on a team are from different countries, as well. Notably, there are several ways a multicultural team might get set up. Organizations have offices in other countries and managed by people in the head office. Several tips for cross-cultural management are useful for managers. For cross-culture management to be effective, the manager must identify and acknowledge several aspects. They include the differences in cultures, practices, and preferences of the team members. The MN6061 Cross-culture management and emerging markets challenges article helps in understanding cross-culture in the workplace.
EMERGING MARKETS CHALLENGES AND OPPORTUNITIES
The article highlights several emerging market challenges as well as opportunities. Notably, the challenges that exist pose a risk to business ventures. The challenges include market volatility. This remains much higher in emerging markets and is a concern for investors. Secondly, emerging economies are still heavily dependent on commodity exports. Investment values and commodity prices are highly correlated: when commodity prices fall, so will investments. The article also discusses tips for cross-cultural management as different cultures may also pose a challenge for any business. Finally, the US dollar and other developed country investors face currency risk. The MN6061 Cross-culture management and emerging markets challenges article helps in understanding the challenges posed by emerging markets.
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MN6061 CROSS-CULTURE MANAGEMENT, TIPS FOR CROSS-CULTURAL MANAGEMENT AND SKILLS FOR MANAGERS
The article highlights tips for cross-cultural management as well as skills for managers necessary in cross-culture management. First, managers need to learn by observing. The article also discusses emerging markets’ challenges with cross-culture difficulties as one of the potential challenges. Secondly, managers need to be adaptable. Managers need to be ready to accept that maybe their management style may not be suitable for your subordinates. Assuming that others should always adapt to you is a grave mistake from a leadership perspective. It does not mean you should completely let go of what is essential to you/your culture. But instead, search for the commonalities and identify behaviours the team appreciates in themselves, try incorporating them. The MN6061 Cross-culture management and emerging markets challenges article provide tips for successful cross-culture management.
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