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Journal entry help/instructions
Journal Task
By the end of this unit you need to reflect on the topics you have studied in the past two weeks and how you will be able to apply it to your personal and/or professional life.
Write a short (500 words) Journal Entry to explain:
- The key things you learned during the last two weeks
- How can they relate to the workplace?
- How they can aid your personal and professional development?
- Remember to be specific and give examples.
Unit 7: International HRM
This unit examines the function and importance of the human component in every undertaking anywhere in the planet.
Unit 7 further explores the ways in which people are managed and the constantly changing environments.
This is particularly true and very evident in international business activities through International Human Resource Management.
In this unit we will explore and study:
- The changing role of the HRM function
- HRM and the external environment
- The key features of International Human Resource Management (IHRM)
- International approaches to HRM
- Pay and international employee relations
After completing Unit 7, you should be able to evaluate, discuss, and critically analyse the following questions:
- What is the role and function of IHRM?
- What are some key features of IHRM and their importance?
- How can IHRM be best achieved?
Unit 7 Reading
The reading in this unit examines importance of International Human Resource Management (IHRM) in multinational enterprises, and how policies and practices may need to be adapted to successfully manage a dispersed and diverse workforce.
Required Reading:
For this unit you should read the following from the core text:
Wall, S. Minocha, S and Rees, B. (2015). International Business (4th Ed). Harlow: Pearson Education.
- Chapter 8 – International Human Resource Management
Additional Reading:
- Chapter 14 from Sims, R. (2002). Organizational Success through Effective Human Resources Management – Available as an eBook
Unit 8: International Marketing
This unit examines the particular characteristics of International Marketing.
Unit 8 also explores the different approaches currently available in international marketing in different areas such as market selection, market-entry strategies, international marketing mix and international marketing planning.
In this unit we will explore and study:
- The principal activities of marketing in international business activities
- The application of marketing principles to international markets
- Decision-making and International marketing
After completing Unit 8, you should be able to evaluate, discuss, and critically analyse the following questions:
- What are the principal activities of marketing in international business?
- How can marketing principles be best applied to international markets?
- What are the differences between international and domestic marketing?
- What are the key stages in international marketing and some key elements of its marketing mix?
Unit 8 Reading
Unit 8 explores the different approaches currently available in international marketing in different areas such as market selection, market-entry strategies, international marketing mix and international marketing planning. In particular, global versus local branding, market segmentation and application of the 4Ps are considered.
Required Reading:
For this unit you should read the following from the core text:
Wall, S. Minocha, S and Rees, B. (2015). International Business (4th Ed). Harlow: Pearson Education.
- Chapter 9 – International Marketing
Additional Reading:
- Chapter 11 from Stonehouse, G. Campbell, D. Hamill, J. Purdie T. (2004). Global & Transnational Business: Strategy & Management. – Available as an eBook
Example of previous journal written for a business strategy module
Introduction
Globalization has played a key role in the development and facilitation of international business. It is important for managers of businesses operating at the international level to understand some key concepts of globalization and international business. These concepts are covered by the global business environment units 5 & 6. Below is a discussion of the key points learnt over both units and how they can be applied to the workplace as well as how they can aid in personal and professional development. Relevant examples will be highlighted too.
Key Learning Points
The units cover how businesses operate at the global level. Key relevant points learnt include the impact of cultural factors on international business(Hampden-Turner & Trompenaars, 2011). Undeniably, culture has a significant impact on the businesses that operate beyond national and cultural boundaries. This calls for strategies to be laid down by these global businesses for them to achieve success in the international market. For example, it would be important to implement the adaptation and standardization strategies in the production of goods and services to ensure that the cultures of different consumers of a given product are considered hence achieving customer satisfaction and loyalty. Another key point learnt in the units is the use of technology in international business(Wall, et al., 2015). It is almost impossible to have a business operate at the global level yet they do not use technology. For this reason, every global business has to strive to keep up with the changing trends and latest technologies to achieve efficiency in business operations. The third key point learnt over the course of the units is the application of the PESTLE analysis to evaluate a country with regard to international business and globalization(Wall, et al., 2015).
Application in the Workplace
Having completed both units, the knowledge acquired can be very useful in the workplace. Firstly, it makes me eligible to apply for a job in an international company since I will be well equipped to make certain decisions related to a business operating at the global level. In addition, I may also work in a company that plans to expand their business from the national level to the international market but is unable due to incompetent strategies. If I join such a company with the knowledge acquired from these units, I can help the stakeholders make the right decisions as well as come up with effective strategies using available resources. For example, I can help the company weigh exporting options depending on the culture of the targeted markets around the globe.
Personal and Professional Development
Evidently, the lessons learnt from the units will facilitate a high transfer of knowledge applicable to deliver development at the personal and professional level. For example, having learnt the legal business environments for the international markets, I may be in a better position to make legal-financial decisions when starting a business. The last two weeks have also enhanced my knowledge on the use of technology in business. For this reason, it is only true to conclude that the units studied will help me gain significant heights in professional and personal development.
Bibliography
Hampden-Turner, C. & Trompenaars, F., 2011. Riding the waves of culture: Understanding diversity in global business..1st ed. s.l.: Nicholas Brealey Publishing.
Wall, S., Minocha, S. & Rees, B., 2015. International Business. 4th ed. Harlow: Pearson Education.
