MANAGING in the

NEW WORLD

The field of international business will encounter some unique challenges in the year 2017. One of them is that international company structures are set to be modified. There could be greater emphasis on localized offices rather than headquarters. Companies will increasingly need to tailor their offerings as per local laws, as evidenced by Airbnb running into trouble and fines at Barcelona. A lot of supranational bodies such as the European Union are working to ensure tax compliance so companies need to be extra careful. Pricing needs to be determined depending on local conditions rather than pre-determined corporate strategy as experienced by IKEA whose traditionally low cost offerings suffered in China where there were already cheaper options. Universal payment gateways such as PayPal or Wordpay need to be further integrated using digital currency like Bitcoin. In times of upheaval, those engaged at international business will have stay proactive in tracking currency fluctuations. Global shipment methods need to be carefully scrutinized and then further tracked just as UPS has done by creating Trade-Ability online tool. International traders will need to breach the challenges of communication difficulties and cultural differences including body language. Something beyond the scope of most individual companies is political risks or instability. There also exist complexities in global supply chain. International talent recruitment needs to follow due process so that hidden slavery is not followed as that is a serious offence.  Within the present scope, there cannot be any planning without due diligence followed on environmental concerns, many of which are common across.

Source:http://www.hult.edu/news/international-business-challenges/uture-of-work-10-hr-trends-for-17/#2ed518292214″>http://www.forbes.com/sites/jeannemeister/2017/01/05/the-employee-experience-is-the-future-of-work-10-hr-trends-for-2017/#2ed518292214

 

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