Functional Area Excellence

2. International Business Strategy LON301BUS Functional Area Excellence Unit: 5 Knowledgecast: 2

3. Module Learning Outcomes • Communicate an in-depth understanding of the complexity of the environment and its applications on decision-making process • Assess current developments in the organisational environment and alternative responses related to strategy

4. International Human Resource Management “The planning, selection, training,employment and evaluation of employees for international operations.” (Cavusgil et al, 2007:548)

5. Three Employee Categories Third Country Nationals (TCNs) Host Country Nationals (HNCs) Parent Country Nationals (PCNs)

6. Complexity of IHRM The need for a broader perspective Greater involvement in employees lives New HR Responsibilities Complexity External influences Managing diversity Greater risk exposure

7. Keys Tasks in IHRM

8. Financial Management and Accounting in the International Firm 1. Decide on the capital structure 2. Raise funds for the Firm 6. Manage diversity of international practices Tasks 5. Currency Risk Management 3. Working Capital and Cash Flow Management 4. Capital Budgeting

9. Knowledgecast Summary • Communicate an in-depth understanding of the complexity of the environment and its applications on decision-making process • Huge complexity in managing diverse human resource • Assess current developments in the organisational environment and alternative responses related to strategy • Increasing harmonisation of cross-national accounting practices enables international organisations to simplify reporting.

11. Seminar Regular Assignment – Presentations Your module tutor will allocate you a time to make your assessed presentation during this session.

12. Group Activity Regular Assignment – Presentations Your module tutor will allocate you a time to make your assessed presentation during this session.