B Com Exam > B Com Videos > Contemporary Management > International Business - Global & Comparative Management, Contemporary Management
International Business - Global & Comparative Management, Contemporary Management Video Lecture | Contemporary Management - B Com
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FAQs on International Business - Global & Comparative Management, Contemporary Management Video Lecture - Contemporary Management - B Com
| 1. What is global and comparative management? |  |
Global and comparative management refers to the study and application of management principles in an international business context. It involves understanding and analyzing the similarities and differences between management practices in different countries and adapting them to achieve business objectives in a global setting.
| 2. What are the challenges in global management? | |
Global management faces several challenges, including cultural differences, language barriers, legal and regulatory complexities, and diverse market conditions. Additionally, managing a diverse workforce, coordinating operations across different time zones, and addressing political and economic uncertainties are also significant challenges in global management.
| 3. How does contemporary management differ from traditional management? | |
Contemporary management differs from traditional management in several ways. Traditional management emphasizes hierarchical structures, top-down decision-making, and a focus on efficiency. On the other hand, contemporary management emphasizes collaboration, employee empowerment, and adaptability to change. It also recognizes the importance of social responsibility and ethical considerations in business decision-making.
| 4. What are the key skills needed for global management? | |
Key skills needed for global management include cross-cultural communication, adaptability, strategic thinking, problem-solving, and leadership. Effective global managers should be able to understand and appreciate cultural differences, navigate complex international business environments, and build strong relationships with stakeholders from diverse backgrounds.
| 5. How does globalization impact international business? | |
Globalization has a significant impact on international business. It allows companies to access new markets, expand their customer base, and tap into global talent pools. However, globalization also increases competition, requires companies to understand and comply with various regulatory frameworks, and necessitates the development of strategies to navigate cultural and economic differences in different countries.
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Nov 22, 2024 Last updated |
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