IHRM - Week 1 Recap

What is globalization primarily about?

• Development of local markets

• Development of single international markets

• Reduction of world trade

• Limiting economic interests

Which of the following is a benefit of globalization?

• Decreased foreign investment

• Enhanced international trade

• Increased cultural isolation

• Reduced technological exchange

What does 'Convergence' mean in IHRM?

• There are no policies and practices in place

• Standardised policies and practices

• Policies and practices do not apply

• Subsidiaries adopt their own policies and practices

What is the key driver of change in the APAC region,

according to the People Profession 2023 International Survey Report

• Economic change and rising costs

• Demands for flexible, hybrid and new ways of working

• Social media and content consumption

• Digital transformation and advancing technology

What skills does International HRM require?

• Cultural empathy

• Strategic thinking

• Communication

• All three

What is a key challenge faced by International HRM?

• Focusing solely on domestic markets

• Ignoring technological advancements

• Adapting to cultural differences

• Managing local HR policies

What global issues affect regions differently?

• New models of working ie hybrid

• Attracting and retaining talent

• Economic instability

• All three apply

What best describes a 'De-centralised' MNC?

• Led and managed from the home country

• Home country presence - offices globally manage themselves

• Operates in multiple countries - HQ in one, subsidiaries in others

• Operates purely in the UK

In International HRM, what is the single largest operating cost?

• Services

• Products

• People

• Telephone calls

In terms of 'Internationalisation' - what does the term 'Geocentric' mean?

• Companies adopt a HR Strategy across a group of countries

• Companies fill key positions with employees from its own country

• Companies adapt their product offer to suit different countries

• Companies hire and manage employees based on skills and expertise rather than nationality