Business has to be faced by different challenges and opportunities and Mark & Spencer is one of the renowned MNC in London having the specialization of selling of different attire, luxury food items and home appliances. It made its mark through a long term relationship with British manufacturers. At that time a brand name was used to sell clothes and food products. And the products which were not accepted by the customers were refunded and complete cash was given back by the owners. Almost all types of products i.e. lingerie, girl;s uniform, women's attire were sold out at at that time. Main focus of the company was on the quality of goods that were sold. Below are the opportunities and challenges that are faced by workforce in an international market.
LO 1 Role of culture in international business
Skilled team leaders derive the approachable employees which help them to understand the business thoughts and proceedings(Rees and Smith, 2017). Access to Related Workforce Data through Manager. Huge data and “Data Deluge” were the terms depicted by the economists which relates to the abundance and collection of high amount of data which proved to be a challenge and was considered as Gartner's Top Technology Trends in 2012. The managers of the organisation should have the talent to manage the extra data and spread data. Smart options are provided by the talent managers for the assessment of the extra data and to avoid the overload of the burden of information. The data has to be timely updated,perfect and meaningful for the business. Complete information has to be relevant which makes the business persuasive. Instead of providing a huge amount of data which contains some irrelevant data , some meaningful information is provided which differs between useful and “deluge” data for the managers in the organisation.
This quality is unique which the business Mark&Spencer take into account to maintain their information relevant and in demand. Overloading is rejected by the leaders to analyse the data. And to make business more progressive and advanced irrelevant data is avoided by the managers. So they always differentiate between the desirable data which the real data and the data useful for the Mark&Spencer and the data all over which is the surrounded data in Mark& Spencer.
Then there are processes to strengthen up the leadership baselines. Mark & Spencer not only focus on the top entities of the organisation but also shows interest in the solutions provided by the people for its establishment. This approach tighten up the their business strategies and people can also show their skills and talent which helps the organisation to grow more rapidly. Professionals solutions helps in the interaction between the leaders and the team members and more ideas are created and generated. This process motivates their self confidence and also visualizes their growth in career development. It covers all self intended employees whose actions and ambitions are being focused and considered. HR provide art staff training and engage their employees for quality wise work. It follows four types of models such Change agent, Employee champion, administrative partner, Strategic partner.
These models perform proactive roles and ensures fantastic distribution of skills, training and core competency for the success of company. These models focus on the fact that they should listen to employees and provide sufficient resources so that company's targets could be achieved. In international market like in Africa there is requirement of effective cross-cultural communication skills and cultural awareness. Personal trust should be build up.
Here five cultural tips are followed such as the cult of precision, there is no mixture of culture with structure, courtesy is always there, sentiments matters the most and CSR is not there. Companies reinforce culture to achieve success. While, European culture is advance and they are proud of their language. They have understand their issues like to make face-to-face contact in business contracts. In corporate life they make use of extensive titles.
LO 2 Knowledge of organisational and national cultural characteristics.
These employees can be described as 'latent talents' of the organisation whose views were not submitted in the strategic talent management. These talents prove their presence by giving useful and ambitious solutions. Their career preferences are also being considered. Alignment of Human Capital Management (HCM) by the commitment of Organizational leaders with the business strategy is also very important(Al Maini and et.al.,2015). Maintaining HR strategies and talent management strategy is also a crucial part of business strategy which helps in building economy of Mark & Spencer very strong . Economic scale of Mark & Spencer strongly depend on the HCM strategy to form an outstanding workforce. Talent management team is apart of HR administration which analyses the potential and real ambition of employees. For leaders it is important to make strong business strategies with the commendable workforce and this desirable workforce is a challenge to business administration. They have their own in-build skills and are more in demand. Strong business strategy rises demand of talented people. which ultimately form the result oriented team by the organisational leaders. Aligning human capital management is very important to build up winning and successful workforce. In the organisation people of high age groups sometimes makes their own workforce and they want to get their views and values to be considered at the workstation. But the young employees have their advanced and fresh box of principles. This creates differences in the Mark & Spencer. And as the baby boomers are preceding, they are leaving behind the gap of 30 years which can be counted as the gap of 100 years(Jiang and Men, 2017). This is a type of disadvantage to the Mark & Spencer. But all old age workers are not required on the board as their health and mental power is concerned. New and talented is youth is being scouted to fulfil the gap yet the knowledge which they take with them can't be covered. Internation business opportunities includes many this like export-import, Outsourcing, Global marketing, and logistics. Many companies in US depend on domestic revenue. But after globalization companies are competing with the international market and generating income and not just rely on nation