Global Human Resource Study Guide 1 .docx

Global Human Resource Study Guide 1 .docx - Global Human...

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Global Human Resource Exam 1 Study Guide Chapter 1: The Internationalization of Human Resource Management  International Human Resource Management  o International Human Resource Management: The study and application of all  human resource management activities as they impact the process of managing  human resources in enterprises in the global environment  T he Drivers of the Internationalization of Business  Trade Agreements o Trade between countries and within regions of the world is constantly increasing  on a global basis, regionally, and thorough bilateral trade treaties between two  countries  o Decreased trade barriers and open markets have resulted in faster-growing  economies throughout the world  o Local and national governments support and encourage growing cross-border  trade and foreign investment  o The center of global trade is moving away from the developed countries of  Western Europe, North America, and Asia Pacific to China, South Asia, and even  Latin America, Eastern Europe, the Middle East, and Africa.  Reduced Costs  o One of the aims of moving production activities abroad is to minimize costs  o Also knowns as Low-cost Country Sourcing (LCCS)  o LCCS is a procurement strategy in which companies source materials from  countries with lower labor and production costs in order to cut operating expenses o Examples of Costs that could minimized:  Labor costs  Material costs 
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Marketing costs Legal costs Financial costs Taxation o Reducing the average knowledge creation costs  o Achieving higher economy of scale Rapid and Extensive Global Communication  o The technological revolution (e.g., the internet) has made global communication  much easier, quicker, cheaper, and more varied  o Enables the spread of information (on a global basis) about  How people live  What they think  What they want  o Creates global expectations for an ever-increasing quality of life  Rapid Development and Transfer of New Technology  o New technologies are developed around the world and are made available  everywhere  o New technologies make it possible to grow and manufacture products and deliver  services with world-class quality and prices everywhere  o Modern education and information technology allow every country to play a part  in this global economy  Improving Global Education and a Global Talent Pool  o Improving education around the world is enabling firms everywhere to produce 
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  • Fall '18
  • Sweeney
  • Non-governmental organization, IHRM

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