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Globalization is changing the way of doing business in the world today It is the new era of business opportunity For many major companies going global is a matter of survival and it means radically changing the way they work Economic globalization changes both spatial dimension of MNEs Multinational Enterprises and creates a need for more flexible production of marketing systems and new forms of organization Firms trying to position themselves as global players face problems such as the cost of building a simultaneous presence in several product areas and foreign markets They must also be able to manage cultural difference and be able to carry out effective cross-cultural communication Global skills must be an integral part of an enterprise these skills must be integrated throughout all operations of the company Managements handling of diversity will be the most significant factor affecting MNEs success in the global marketplace Whether a company is concerned about the supervisors of minority employees world trade joint ventures or global economic cooperation culture will have a great impact on the relationships and the operations Edward H Schein states it perfectly Consider any complex potentially volatile issue-Arab relations the problems between Serbs Croats and Bosnians corporate decision-making getting control of US deficit or health care coasts labormanagement relations and so on At the root of the issue we are likely to find communication failures and cultural misunderstandings that prevent the parties from framing the problem in a common way and thus make it impossible to deal with the problem constructively Schein 40 Every company that becomes global should have global leadership Culturally skilled leaders are essential for the effective management of emerging global corporations They should have persons in management that are capable of operating effectively in a global environment and they must be respectful of cultural diversity In China the conflict in management has been addressed as a major problem for the global-player such as
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