Responses
Response to Post One
Hello Parks. I agree with you that in the current global environment, it is critical to look at how human resource is changing. This is important considering that if companies fail to keep with the changes, they will be left behind. Secondly, I agree with your claim that since its inception, human resources has experienced significant transformations. Initially, human resources were seen from the perspective of employee management only. However, in recent times, the personnel in this department are taking part in strategic planning. More so, it is increasingly becoming important to human resources to embrace changes created by business norms and cultures. Therefore, although the role of the HR department has been tied to employee management, it is being forced to adapt technological changes to enhance its performance (Ekawati, 2013). More so, I concur that the impact of technology in this department plays a critical role in improving its performance.
On the other hand, it is vital to note that human resources have evolved significantly to enhance its ability to manage human capital. Notably, human capital is critical, because, without it, no organization can exist. On this note, considering the level of competitiveness in global environments, the HR departments are forced to change and embrace technology to stay on course. This is the major reason why these departments are forced to embrace technology to ensure that employees have the skills and abilities required to boost the growth of the company. It must change to provide employees with opportunities to maximize their performance and productivity (Ekawati, 2013). More so, in recent times, the HR department is taking an active role in providing work and family programs including alternative work schedules and other programs to help employees meet their needs (Chukwunonso, 2009). Further, with the increasing trend of workplace diversity, the HR department is developing policies to manage this trend appropriately.
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Response to Post Two
Hello MahonLewis. I support your claim that multinational corporations are facing several challenges when expanding internationally. Secondly, without understanding these challenges, it will difficult to address them and, this means that corporations will not experience the benefits of international expansion. Benefits that international expansion creates for corporations include extending the consumer base, increasing demand for goods and services, and more investment opportunities. At the same time, I also agree with your post that there are challenges that affect how multinational corporations will expand. These include barriers created by cross-cultural communication, differences in accounting standards, and economic risks. In some cases, the expansion of multinational corporations is hindered by a poor infrastructure to support industrial activities, manipulative tariffs, and a lack of a legal mechanism to enhance the protection of intellectual rights (Khan, 2014). Other challenges include bureaucratic rules, lack of reliable suppliers to supply high-quality inputs, and manipulation within the industry.
Moreover, when operating in emerging markets, multinational corporations struggle with issues related to the lack of skilled human capital, cultural differences, and the shortage of foreign currency (Gashu, 2017). As a result, looking at the challenges facing multinational corporations, I agree that organizations should focus on developing culturally-competent leaders. These are efforts that will help them to deal with challenges caused by cross-cultural communication and differences of culture in the host country. It is also critical to perform a SWOT analysis because it will help organizational leaders to identify potential risks as well as how to use local resources to support their expansion. On a further note, multinational corporations should seek legal assistance considering that they are expected to operate by the host country and international laws (Gashu, 2016). In this case, organizational leaders will understand the legal environment in the host country they want to expand their businesses. For instance, they will understand how the legal system will help them protect companies’ assets.
References
Chukwunonso, F. (2009). The development of human resource management from a historical perspective and its implications for the human resource manager.
Ekawati, F. I. (2013, April). Human Resource Management Changes: From Production Factors to Human Capital. In Annual International Scholars Conference in Taiwan .
Gashu, M. (2016). Challenges faced by Multinational Companies: The Case of Castel Winery Company in Ethiopia. International Journal of Scientific & Engineering Research , 7 (8), 1102-1134.
Khan, M. A. (2014). Challenges for MNEs operating in emerging markets. Available via: www: aabri. com/LV2014Manuscripts/LV14045. pdf. [Retrieved on 05/05/2016] .
