INTERNATIONAL MANAGEMENT
As trade barriers recede and businesses in developed economies increasingly pursue market opportunities abroad, competency and effectiveness in international management are paramount skills at many companies. The issues involved in international management span the whole gamut of those concerning management in general, but there are several areas of special interest, including:
- international finance and currency matters
- cross-cultural communication and understanding (including international marketing implications)
- foreign legal requirements and accounting practices
- global strategy
- international competition
To ignore such issues in an international business is to open the door to risks like inappropriate (and hence ineffective) marketing approaches, poor labor-management relations, adverse currency fluctuations, and other problems. Conversely, companies that are able to successfully manage these issues have greater potential to extend their marketing reach, increase market share, improve efficiency and profitability, decrease costs, and enjoy other competitive advantages.
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