Management is said as the procedure of controlling and dealing of company management methods that are useful for the industry. Multinational corporations are companies that have their assets and facilities in more than one country. These companies make their offices in various countries but have a head office centralized in that country usually from where they first began and from this place they do their global management (Business-to-you.com 2019). Now globalization is considered as a procedure through which businesses and firms evolve international influence or continue operating themselves over an international scale. Business management is considered as the management of the responsibility of a firm for achieving their definite goals.
The multinational corporations are called as the major players of business industries in the International arena. The management of multinational corporations is not an easy task but multinational management gives an expanded understanding of the various methods through which the multinational corporations manage and work in this globalized age. It can be said as the deep analysis of the methods of control that are being used by the multinational corporations and also an analysis of the structural formation and the strategically managements as well as the international management of human resources (Business-to-you.com 2019). The International Survey defines the management of the multinational corporations as a complex strategically management policy by using the huge data’s that are collected from nearly hundreds of multinational corporations whose headquarters are varied in nine countries and their subsidiaries situated in nearly 22 different nations. This depicts that the multinationals control methods of their subsidiaries differ accordingly to the position of their headquarters like the strategy and the origin of the country.
It can be said that every multinational firm uses the global strategy to achieve their success goals. While using this global strategy the firms sacrifice their responsiveness towards their requirements locally within its markets in order to emphasize their efficiency (Harzing.com 2019). This type of strategies are considered as the opposite of strategizing of Multidomestic that are followed by the multinational corporations. In the global strategy the main focus is made in gaining the economies by providing and offering the same type of services and products.
The multinational industries acquire a business pattern that contains Multidomestic strategy that aims in meeting the major requirements of the local markets all around the world by the tailoring and customizing their services and products in the local markets extensively. The multinational corporations follow majorly for types of business operations that are Multidomestic, Transnational, Global and the International strategies (Harzing.com 2019). It can be said that multinational corporations often use various kinds of a framework in order to distinguish the different types of forms of businesses that are internationally operated. Businesses that are being integrated globally in hugely usually posses the main aim of reducing the cost of their products as possible by the creation of the scale of economies by the help of a standardized product that are being offered all around the world. Thus the management process of the multinational corporations occurs through acquiring many different kinds of business, global and management strategies which enhance the growth of the firm nationally as well as internationally.
B2U – Business-to-you.com. (2019). International Business Strategy EXPLAINED with EXAMPLES | B2U. [online] Available at: https://www.business-to-you.com/international-business-strategy/ [Accessed 11 Jun. 2019].
Harzing.com. (2019). Managing the Multinationals: An international study of control mechanisms. [online] Available at: https://harzing.com/publications/managing-the-multinationals [Accessed 11 Jun. 2019].