The Applicability of Western Management Practices in LDCs 12+

📘 Inhaltsangabe:Abstract: Nowadays firms have to interact on the international level to pursue their business. In doing this they might be conducted to deal with LDC firms or even establish a subsidiary in a developing country. The aim of this study is to examine to what extent Western management practices are applicable to specific LDCs environments. First the main differences between in business environment are highlighted. Then the whole lifecycle of establishing and managing a venture abroad will be discussed critically. Results are always presented in a concrete and practical form to that managers might use it as a handbook. Every organisation functions as an open system and is affected by the demographic, cultural, economic and political specificities of his surroundings Management practices are also determined by their environment. It is hence substantive to comprehend social underlying values and attitudes when dealing with colleagues and workers, as well as to grasp the reasons and dynamics of the political and economical framework. This necessity is emphasised in developing countries as brusque changes in a company’s domain might have serious consequences if the management is taken unaware. To reduce environmental risks and allow a company to plan its activities it can be useful to set up an information system and become conscious of one’s own cultural determination – as a first step toward cultural empathy. Some aspects of Indian management are presented as a concept...