Evaluate the importance of MNCs having a culturally diverse board of directors and work force
Evaluate the importance of MNCs having a culturally diverse board of directors and work force. Provide one (1) example that depicts the main reasons why such factors are essential for international success.
2. From the e-Activity, assess the importance of understanding cultural differences for employees of companies operating internationally. Select three (3) of Geert Hofstedeâs cultural dimensions, and, based on the chosen dimensions, compare the U.S. and Thailand. Interpret the results that the comparison yields.
E Activity for Questions #2 above:
â¢ Use the Internet and the links below to complete a brief country risk assessment (CRA) on Thailand. Focus on the following areas: corruption, political stability, exchange rate stability, regulatory oversight, freedom of the press, and rule of law. Consider other factors that you should evaluate, and explain your reasoning. Also, consider the importance of culture in evaluating risk.
o Bureau of Economic Analysis: www.bea.gov
o Transparency International Corruptions Perceptions Index: http://www.transparency.org/cpi2013/results
o Ranking of Economies-World Bank: http://www.doingbusiness.org/rankings
o IMF Home Page: http://www.imf.org/external/index.htm
o Country Risk Classification-OECD: http://www.oecd.org/tad/xcred/crc.htm
o World Trade Organization Home Page: http://www.wto.org/
o Value Line article, âIndustrial Analysis: Recreationâ: http://www.valueline.com/Stocks/Industries/Industry_Analysis__Recreation.aspx
Next, go to Geert Hofstedeâs Country Comparison cultural tool for Thailand, located at http://geert-hofstede.com/thailand.html. Compare Thailand to the U.S. on his six (6) key cultural dimensions by selecting âUnited Statesâ from the âComparison Countryâ drop-down menu. Be prepared to discuss.