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The Structure of International Business

It’s no secret that many of today’s major corporations have office, manufacturing plants, and supplies in countries all around the world. The car you drive may have been made in one country and sold to you in another and the same applies to many of the standard household items you use every day.

In order to be an effective manager its important for you to understand the dynamic of the international workplace. A company may call itself “international” but that could mean one of many things. Let’s take a look at the differences between them.

First we have domestic businesses. Domestic businesses are generally located in one country only and obtain all of their resources from that same country. Examples of domestic businesses are banks, mortgage companies, and small retail chains.

International companies are becoming larger in number and represent organisations that have their main offices in one country but at the same time finds its resources or makes a large percentage of its sales in another country (or in several others).This company will earn most of its revenue from its main country or origin but will earn a significant percentage (even if only 10%) from selling in other countries.

Multinational companies, also known as MNCs or multinational corporations, have a much wider global reach. The company’s home offices may be based in one country but the organisation will have several other administrative and manufacturing offices located in several countries around the world. Many of today’s modern car companies have locations in several countries, making it easier for them to make and sell their cars to a global market while making sure they’re tailored to the needs of each demographic location.

Last, but certainly not least, are global businesses. Global businesses tend to operate in several countries but never really claim one as being “home.” Some companies, like energy companies, may find it possible to operate without claiming one country or another as home but in reality it is very difficult to operate in this manner.

So what type of company do you work for? I’d venture to guess you work for one of the first three- most likely one of the first two. Do you think there are advantages or disadvantages to companies attempting to spread their wings internationally?

Thanks again,
Sean

Sean McPheat
Managing Director
MTD Manager Training

Click below for a:
FREE email course “Improve Your Management Skills”


Category: International Business | Tags: , ,

So You Want to be a Manager

So you want to be a manager?

Chances are, if you’re reading this blog, you either are a manager or you want to become one in the future. You may want to manage a small department, run a human resources group, or maybe even own your own company. Today I’m speaking to those of you looking to work your way up the corporate ladder and become not just managers, but successful managers – no matter what kind.

I truly believe that managers are made – they’re not born. Sure, some people have natural skills that make it easier for them to communicate with people and make difficult decisions but they still need to hone those skills in order to become effective.

There are, as we’ve discussed in the past, dozens of different skills a manager needs to have in order to become successful. The question, though, is how you’re going to obtain those skills. There are two main ways:

  • You’re gonig to enroll in a formal course (either in college or through your employer) and build a solid foundation. It is more common than not for individuals with college degrees to have an easier time moving up in management than those without, so keep your education in mind at all times.
  • Second, you’re going to gain on-the job experience. What you learn in school will prove worthless if you never have the opportunity to practice. Contrary to popular belief, you do not have to be a manager in order to gain managerial experience. You’ll gain that experience by taking on special projects, managing your own work flow, and learning from your peers and superiors.

As you can tell, it’s ultimately going to be your responsibility to seek out the additional education and training you need to become a successful manager. On the other hand, those already in upper and middle management positions are usually watching for employees who are motivated enough to do so and, in response, will usually help them find their way onto the management track.

Will you be one of those people?

Thanks again,
Sean

Sean McPheat
Managing Director
MTD Management Course

Click below for a:
Free email course “Improve your Management Skills”


Category: Management | Tags: , ,

Decision Making 101: Practice Makes Perfect

I haven’t challenged you with an activity in quite a while so I thought I might do so today.

Every once in a while we are faced with a decision that seems more difficult than it needs to be. In these situations the key to coming up with the best response is to carefully consider all of the facts and then, using your best judgement and sense of personal ethics, make the decision you think is best for the company in the long run.

Here’s your decision for the day:

As the manager of a small restaurant you suddenly find you need to cut costs by eliminating a part-time employee. Your two choices are an elderly woman who works part-time to help raise her daughter’s children or a college student who is nearing his graduation date and needs to work to pay off his living costs (not to mention tuition) while he’s in school. Both are wonderful people but they are the only part-time people to choose from.

Who will you choose to let go? There’s really  no right or wrong answer but you should be confident in your assessments and have a real reason for picking one or the other. Let me know in the comments who you chose!

Thanks again,
Sean

Sean McPheat
Managing Director
MTD Management Courses

Click below for a:
Free email course “Improve your Management Skills”


Category: Exercises & Activities | Tags: , ,

Enhancing Your Interpersonal Skills

Something we don’t necessarily talk about enough is your level of interpersonal skills. Your interpersonal skills dictate your ability to communicate and deal with other individuals on a regular basis. If you lack interpersonal skills you may find yourself labeled as difficult to communicate with, stubborn, aloof, or any of a number of negative descriptions.

In order to develop great interpersonal skills you need to focus on four main qualities. These can be summarised easily by remembering the STAR acronym.

  • S = Sensitivity. You need to be aware of the different needs of each of the people on your team. No two people are alike, and each will need to be treated differently.
  • T = Tolerance. Not everyone you work with will have the same beliefs. You need, especially as a manager, to be able to set aside your own personal beliefs so that you can objectively work with and understand the beliefs of your employees. Tolerance applies not only to cultural and religious beliefs but to individual work ethic as well (within reason, of course).
  • A = Assertion. You’re the manager. You’re in charge. You have the final say. You don’t have to be arrogant or rude to get your point across but if you see something about to go wrong you do need to have the guts to stand up for yourself and your ideas.
  • R = Restraint. We all have times where we want to say or do something inappropriate. You need to have the presence of mind to stop and think before speaking or taking action. If you need help, go back and brush up on some of your anger management tactics.

Get all four of these factors under control and you’re bound to build beautiful relationships with your team members and fellow managers. Let one slip and you may just find you aren’t necessarily a favourite within your office.

Thanks again,
Sean

Sean McPheat
Managing Director
MTD Management Training Courses

Click below for a:
Free email course “Improve your Management Skills”<-->


Quality Control and Errors

As a manager or trainer you have a great deal of responsibility when it comes to quality control within your organisation – both as it applies to your product and as it applies to your customer service team. As such, it’s important to recognise that a large majority of the errors that occur within your organisation go unreported and if they are not caught early you may have a rather large problem on your hands when they finally are uncovered.

So why aren’t those errors being reported? There are really two main reasons.

First of all, there are not very many people who care enough about their organisation, or anyone else’s organisation, to take the time to report an error that could be easily corrected. It’s a little bit sad, isn’t it? The average person simply won’t take a few minutes to pick up the phone, walk down to your office, or shoot you a quick email. They will see the error, acknowledge the error, walk away from the error, and forget about it.

The second reason is because the individual who catches the error feels it is insignificant OR feels that if he is the person to bring it to your attention he will be blamed and/or punished. These individuals feels it’s easier and, in some cases, safer to keep their mouths shut and let the errors continue in order to avoid unwarranted blame. Though I must add that if you suspect this is the reason your employees don’t point out errors you should really take a step back and review your management skills. Your employees should never be afraid to approach you, especially if they’re doing so in order to point out a problem that may have a negative impact on your team’s overall performance.

So what’s the resolution? It’s really up to you but you need to make sure your employees know they can approach you at any time without fear of retribution. The earlier an error is identified the less it will cost you (in both time and money).

Thanks again,

Sean

Sean McPheat
Managing Director
MTD Management Training

Click below for a:
FREE email course “Improve Your Management Skills”


Category: Proccess Improvement, Uncategorized | Tags: , ,


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