INTERNATIONAL HRM

International Hrm- A guide about a strategic approach to the effective and efficient management of people.

International Hrm

International HRM is nothing but a process where allocation, procurement, and effective use of human resources is been done in multinational companies.

It is to be defined as a set of activities aimed to manage organizational human resources at the international level to achieve organizational objectives.

Introduction

MNEs are essential parts of business organizations. They play extremely important roles in the global economy of this generation.

MNCs help the technological development of a country as well. In this assignment,

pestle analysis of MNEs has been discussed.

It has been discussed what strategies can be developed to contribute to the goals of MNEs.

MNEs are organizations that hold employees or assets in more than a country.

MNEs bring technological advancements and innovations to the host country.

MNEs play an extremely important role in the global economy of today’s generation.

It has also been discussed that teamwork and collaboration are significant aspects of business organizations.

The business leaders of MNEs need to conduct awareness campaigns so that the business leaders can deal with the problematic situation of COVID-19.

PESTLE analysis

Political factors:

British MNEs remain extremely interested in the operations where FREEDOM OF SPEECH and high democracy work.

It has been observed that there is less intervention of government towards business.

MNEs remain interested in the operations of a country where security and peace stay.

The UK shares diplomatic relationships with some other countries (Nandonde, 2019).

The tax policy of the business organization is well structured and tax policy can be well predicted.

It provides the opportunity for the business organization to incorporate in the business organization.

If the Tax policy of a country is very uncertain many British MNEs do not remain interested to invest in that country.

MNEs are interested in knowing all the regulatory bodies that govern trade, international business, and local business.

Employment laws, health and safety laws, business ownership laws, and competition laws ensure that the business organization runs smoothly.

Economic factors:

British MNEs have an interest in investing in a country where the GDP head towards a good direction, and a good environment is required for the development of the business.

British MNEs invest in countries that have a comparative advantage.

British MNEs have an interest in a country where money supply equals to low-interest rate.

British MNEs have preferred capitalism and in this capitalism both demand and supply can be controlled by the markets.

Social factors:

Multinational enterprises have an interest in operating in countries that have large populations such as the UK.

However, many MNEs have an interest in operating in India, China, and some other African countries.

The lifestyle and social culture of the UK affect the business activities of MNEs to a great extent.

Asian societies and African societies adopted a western culture, these societies create opportunities for the MNEs

so that those enterprises get engaged in international business.

Technological Factors

Innovation and advancement in ICT contribute to multinational enterprises

so that the business leaders can participate in international business (Ivarsson and Alvstam, 2017).

Technologies such as teleconferencing and the internet can help MNEs develop smoothly.

The headquarters of the business organization have two-way communication.

Transport innovation is a kind of innovation that helps develop maritime technology

and it helps MNE get engaged in international business.

Legal factors:

The MNEs adhere to the safety rules and regulations strictly.

The MNEs have guidelines on enforcing the copyright strictly.

The business leaders of MNEs ensure the laws of the UK are followed effectively.