Evaluate the importance of MNCs having a culturally diverse board of directors and work force.
Discussion 1 “Cultural Dimensions” Please respond to the following: 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.
From the e-Activity, assess the importance of understanding cultural differences for employees of companies operating internationally. Select three (3) of Geert Hofstede’s cultural dimensions, and, based on the chosen dimensions, compare the U.S. and Thailand. Interpret the results that the comparison yields.
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E-activity
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.
Bureau of Economic Analysis: www.bea.gov Transparency International Corruptions Perceptions Index:http://www.transparency.org/cpi2013/results Ranking of Economies-World Bank:http://www.doingbusiness.org/rankings IMF Home Page: http://www.imf.org/external/index.htm Country Risk Classification-OECD: http://www.oecd.org/tad/xcred/crc.htm World Trade Organization Home Page: http://www.wto.org/Value Line article, “Industrial Analysis: Recreation”:http://www.valueline.com/Stocks/Industries/Industry_Analysis__Recreation.aspx
Next, go to Geert Hofstede’s 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 “United States” from the “Comparison Country” drop-down menu. Be prepared to discuss
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