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TASK: 01
The company of financial services which is operating on global level and it has office in
Germany, Tokyo, and Brazil. It is very beneficial in the developing countries. The head office of
the company is located in London but it is operating on the global level. I am also a part of this
multinational company of financial services and the company is trying to generate high amount
of revenue with more advanced and updated goods and products. The regional culture in any
office of the multinational level will encounter the corporate culture and this regional culture will
provide high skilled employees and it will offer good amount of wages. The three offices of
multinational company located in Germany, Tokyo, and Brazil has all done from London’s head
office. This system will impact the competitors of the company that are located in London. It is
because it is giving high amount of benefit in enhancing the regular operations of the
multinational company and offers protection to the highly skilled workers of that company. To
enhance the business and struggling to provide competitive advantage to the financial services
company, it will be tied up with its head office in host country and it will join in the business
(Nazarian et al., 2017).
This company of financial services which is operating on an international level is playing an
important role along with local companies to enhance its operations and to shape the economy
over the globe. It will also affect local authorities as specific position in industry due to the
compulsory and important nature of the finance in life of people. So this company will grow
quicker as compared to the other companies of same operations. Different studies are performed
to known the relation among national and corporate culture of the multinational organizations.
These studies had also revealed that the congruency of national cultures is good in enhancing the
organizational performance.
According to Hofstede model through effective culture the employees on national level perform
in better way while using local management practices. The research evidence shows that
business performs can be better if the local management practices are similar and match to
natural culture.
TASK: 02
As a CEO of the multinational company that has different branches in Europe and Asia to
perform my roles and responsibilities, there will be many challenges as well as opportunities that
will affect the success of the virtual team.
Challenges
The flow of communication with clear and good plan is necessary. In virtual teams the hard
working individuals of this multinational company will be located on some other branch far from
my host office. The attending and presence in every meeting will not be easy for solving the
problems of the employees. That is why it will be good to defined the exact and clear hours of
meeting and explain them that why it is not possible to work in different zones (Gibbs et al.,
2017). It will also be not possible to work alone and several issues of different times along with
other team members. The good explanation will be easy to understand and the employees will
respect the efforts of CEO and they will understand the explanation. So the remotely discussion
for the encouragement of team members is good when they are performing according to different
time zones.
It is necessary for the CEO to be sure on his time and date of discussion. The deadline of any
kind of work should be schedules on same time according to the different time zone. In this way
everything will be clear among me and other team and no confusion will be left among us. If a
task is executing in the office located in Asia then the office in Europe will follow the same
schedule. That is why it will be a little hard and difficult to perform parallel tasks with both
offices of Asia and Europe. Providing another schedule for meeting is the common gap that
happens sometimes while working with international virtual teams.
Opportunities
It is very effective for me as a CEO to remain aware of the operational activities of the virtual
team members according to their designated time. If the virtual team members have asked for
some time to discuss matters in the meeting then as a CEO it is necessary to respect the virtual
team members as well as the time and schedule. It is very effective while working in remote
work and it provides better results. The cooperation of team members of virtual team enhances
the productivity when their issues are resolved effectively (Lacerenza et al., 2018). The sending
of emails and allocation should be performed two days before the initiation of work and it will
show the best performance.
Factors
The time zones are different for the team when they are working in more than one region and it
is the best factor for operational activities. The different time zones provide help in resolving the
issues and critical nature of the work. It is also helpful to build different types of work and
assigned them according to the mindset of the individuals. Moreover the effective training that is
provided to senior leaders will generate effective outcomes in the project. The allocation of
different time zone according to local time of the respective leader will be effective. The virtual
meetings are possible on Zoom Skype, and Google meet etc. these tools can be used for training
and meeting purposes.
References
Nazarian, A., Atkinson, P., & Foroudi, P. (2017). Influence of national culture and balanced
organizational culture on the hotel industry’s performance. International Journal of Hospitality
Management, 63, 22-32.
Gibbs, J. L., Sivunen, A., & Boyraz, M. (2017). Investigating the impacts of team type and
design on virtual team processes. Human Resource Management Review, 27(4), 590-603.
Lacerenza, C. N., Marlow, S. L., Tannenbaum, S. I., & Salas, E. (2018). Team development
interventions: Evidence-based approaches for improving teamwork. American
Psychologist, 73(4), 517.
