Why Multi National Corporations Become Successful

There are a variety of reasons why multi-national corporations become successful, and possibly more reasons why they fail. One key aspect of being successful in the international arena of business is the ability to create a successful multinational/cross-cultural teams. Top companies such as Exxon Mobil, Wal-Mart, and GE have mastered the formula of building such teams (DeCarlo, 2013). Our world today has become more and more intertwined and has led to more cross-cultural business teams being created. To build a cross-cultural team, there are many obstacles a company may face. To become as successful in building cross-cultural teams for international business as the companies named previously, it is absolutely necessary to study the differentiation in several key areas. The importance in understanding difference in the areas of Legal and Political views, communication (verbal and non-verbal), and business practices in varying cultural dynamics cannot be understated. It is imperative to have a deeper understanding of each aspect if an organization hopes to create sustainable cross-cultural teams. The first extremely important aspect for MNCs to consider is the legal and political differences the organization will encounter when expanding into new and unfamiliar territories. Obviously any organization successful enough to expand into an MNC should have the resources and foresight to understand the importance of performing their due diligence in these areas. The ability to beShow MoreRelatedContemporary Business Relations929 Words   |  4 Pagesthere are several inherent drawbacks to this process that should ideally be avoided. A prudent analysis of both of these factors indicates that it is more advantageous to become a multi national company that not particularly if one does so in a way that is prudent. 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