Module 4

• It provides opportunities for business to invest in foreign markets and to gain access to new capital.

  Globalization
• They wrote about the difficulties of expatriates in different cultures and various parts of the world.

  Fayerweather and Borman
• The most influential theory of international human resource management (IHRM) was published by this person

  Perimutter
• The most influential theory of international human resource management (IHRM) was published in this year.

  1969
• How their human resource management practice is followed abroad.

  ethnocentric
• How they adapt to local

  polycentric
• How they adapt to regional

  regiocentric
• How they adapt to global conditions

  geocentric
• He stated: "If HRM is in its infancy, then IHRM is still a newborn baby".

  Laurent
• These are a competitive advantage that large entities have over smaller ones.

  Economies of scale
• It can be defined as a set of activities aimed at managing

  organizational human resources at the international level to achieve organizational objectives and achieve competitive advantage over competitors at the national and international level.

  International Human Resource Management
• It is the process of sourcing, allocating and effectively utilizing human resources in a multinational organization.

  International Human Resource Management
• It practices within the geographical boundaries and one country. Its focus is the management of people in a single-country context

  Domestic Human Resource Management
• Expatriates are also called

  Guest employees
• This is an employee working and living in a foreign country where he is not a citizen.

  Expatriate
• These are those host country nationals transferred to the

  head office of the company.

  Inpatriates
• This is where the subsidiary may be located.

  host country
• This is where the company has its head office

  home country
• Meaning of EIU?

  Economist Intelligence Unit
• Meaning of SHRM

  Society of Human Resource Management
• Significances of IHRM in the global business environment key areas:

  1. Challenge
  2. Commitment
  3. Cost effectiveness
  4. Competence
  5. Congruence
• It is defined as contracting of a service provider for the

  delivery of a process or service.

  Outsourcing
• It is a type of outsourcing wherein a third-party service provider is employed to carry out one or more business

  functions in a company, which may not be cost effective to handle on your own. The third party is responsible for carrying out all operations related to the business function.

  Business Process Outsourcing
• This refers to the services that are not totally business process related and examples are cafeteria/canteen, janitorial service, building maintenance, security, etc.

  Auxiliary Services
• This is most recommended for a small and medium enterprise (SME).

  Accounting and Finance
• This is another business management system that requires specialized skills and knowledge.

  Marketing
• It is a crucial aspect of running a business. You cannot reach your target profit if you’re not closing deals.

  Sales management
• It is one of the largest outsourcing industries around.

  Information Technology