The Group Project Essay Example | Topics and Well Written Essays - 1500 words

The Group Project - Essay Example polycentric strategy and the geocentric strategy (Tiwari 2013); the ethnocentric strategy entails applying the parent company’s HR practices in the host countries while the polycentric strategy involves recruiting local staff and adopting the host nation’s HR practices (Reiche 2006). Contrariwise, the geocentric strategy entails simply paying attention on the skills of the employees and adopting the best HR practices that serve the MNCs purposes, regardless of their nationality. Given that all these HR selection and recruitment strategies have their unique pros and cons, MNCs often make a choice, on which one to use based on numerous considerations (Banai & Sama 2000); these include the nature of businesses they engage in, their organizational strategy, and leadership structure, in addition to their previous experiences. The company that applies the polycentric strategy in the selection and promotion of its international human resources usually goes by the assumption that every country is unique from all the others and its foreign subsidiaries must adapt practices that are locally appropriate to every market through the direction and supervision of local managers. The Atlanta-based soft drink giant Coca Cola has managed to build both a global organization and a multi-local enterprise whose internationalization strategy entails adapting to local needs, laws and cultures through polycentric policies. The company has a global presence in more than 200 countrie s and in all its global subsidiaries, the company strives to employ as many local nationals as possible because it considers the HCNs to be more suitable to the home markets (Anfuso 1994). Traditionally, the polycentric approach to the selection and promotion of employees in the management of international subsidiaries entails low costs of recruitment and training (Tiwari 2013). Similarly, the polycentric approach is mired with lesser adjustment and communication challenges, primarily because all the

Recognizing Contract Risk and Opportunities Essay - 2

Recognizing Contract Risk and Opportunities - Essay Example In contract management process compliance is the most difficult part because the capacity to implement conformity internally (employees) and externally (suppliers) is rigid in the overall management process. In the highly expanding economic world, businesses are frequently under pressure to conform to internal and external aspects. They require negotiating for contracts instead of going to courts to ensure the execution of contracts since they are expensive and involve long process. All the companies are responsible to fulfilling the contracts as failure to comply contributes to the breach of contract in terms of poor performance and organizational alterations. Hence, it is important for organizations to bargain for prevention measures to do away with contract disputes with emphasis on delivery schedule, technical performance and scope of the organization which in the long run will set the organization free from contractual responsibilities. However, most of these businesses lack the critical concepts to monitor and manage the contracts. Hence, the establishment of Upside contract to impose the contractual agreements such as the operational compliance which guarantees that all the enterprise employees adhere to the policies and standards concerning the contract obligations and negotiations. Supplier compliance ensures that the suppliers conform to the terms of the contract including maintenance program and discounts on quantities purchased. Regulatory compliance aims at ensuring that all set out legislations are complied all the business enterprise entering into a contract. In any business traction a contract is a milestone as it depicts the association between the constricting entities state the stipulations and conditions for goods and services. It’s important to note that contracts have many difficulties for a given business including loss of savings, opportunities and liability as result of