The ubiquitous management is at the core of every business organization. The 21st century has witnessed several business deals and acquisitions which never could have been imagined before. The nations are coming closer to each other using business as a tool. But as different cultures have different ideologies and perceptions, so does the management of businesses of those countries.
When huge businesses come under a single umbrella, they need an approach which could govern all at the same time. The concept is Multicultural Management – where lessons pertaining to management of different business houses around the globe are dealt with. Today, mergers and acquisitions have become a common trend. However, the unison of two companies is not reflected only in the name but also in their management. Imagine a situation where, prior to the merger, the two companies had differing methodologies of approaching their customers. What could be the solution so that both the strategies exist together without intervening in other’s methods?
These days, the companies are recruiting expatriates so that a multicultural environment of management can be established. The companies are sending their top officials to other countries to learn their management lessons and to learn how they can become more proactive. Their strategy involves spreading their business in that country.
Selling cars is also about cultural considerations. Ask the French, who are focusing on the Indian cultural aspects to sell automobiles in the country. The management institutes of France are sending their students to top B-Schools of India to learn the management lessons which would come in handy while doing business in the country. Renault – the French automobile manufacturer is sponsoring the trip. The main purpose is to understand the environment and get acclimatized with the scenario of the business in India. The students from the IIM-A are guiding the visitors who have come from the top-notch HEC School of Management and Ecole Polytechnique.
The rush to capture the lion’s share and to monopolize the market is the dream of every business house and they are working hard to do it efficaciously. The implementation of newer thoughts and ideas has proved beneficial and an atmosphere gets created where managers of different countries gather and discuss the future prospects of the company. Thus diversity in management is a boon in the present conditions where customer satisfaction is more than the numbers.