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Dynamics of Human Resource Strategies and Cultural Orientations in Multinational Corporations

Dynamics of Human Resource Strategies and Cultural Orientations in Multinational Corporations
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Author(s): Isaac Idowu Abe (University of KwaZulu-Natal, South Africa) and Ethel N. Abe (University of KwaZulu-Natal, South Africa)
Copyright: 2019
Pages: 20
Source title: Contemporary Multicultural Orientations and Practices for Global Leadership
Source Author(s)/Editor(s): Sulaiman Olusegun Atiku (Namibia University of Science and Technology, Namibia)
DOI: 10.4018/978-1-5225-6286-3.ch005

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Abstract

The search for new market opportunities in order to expand operations has been on the increase globally, and organizations are progressively pouring their resources into these expansions probably because of the huge turnover and return on investment derived from new market explorations. Multinational corporations (MNCs) that seek the market expansions in other developing countries transfer specific advantages and benefits to the emerging markets in order to operate effectively. The MNCs are required by law to comply with the legal obligations, local regulations, and cultural adaptations in the bid to transfer specific advantages. The situation becomes more complex because of the different cultures in different countries. New strategies are introduced to resolve the new challenges that each new market entrance offers. These strategies pose tremendous risk to expanding markets and their operations, especially to developing markets. Recommendations are suggested to HRM practitioners and scholars, and issues are considers for future research.

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