Management Principles for International Business

PM Company should be aware of the many management principles and practices that they should implement. I am the only person currently in the international management department. Therefore it is imperative that we as a company know and understand which principles and practices will be best for us when we start to grow more. In management there are three levels that management tends to focus on: the organizational level, the strategic level, and the operational level (CTU Online, 2007).

Most managers focus on the operational level first, which is the lowest level (CTU Online, 2007). This level most readily deals with the how, when, who, and what of the business, such as where they will market the products (CTU Online, 2007).

The next level is the organizational level. This is the level that is focused on when the international portion of the business starts to run efficiently. Then management will decide which organizational structure is best in productivity and optimization (CTU Online, 2007). When a manager is choosing between organization structures there are two concerns for this structure: efficiency and objectives (Ball, McCulloch, Frantz, Geringer, & Minor; 2007).

The highest level of the pyramid is the strategic level. Some of the most successful internationally known companies focus on this level (CTU Online, 2007). This third and final level focuses on questions such as which country the company will market products to next (CTU Online, 2007).Each of these levels is of great importance. As a company proceeds to the top, they run more effectively and efficiently. Global strategic planning is an essential and vital role of management (Ball et al., 2007). "The process of strategic planning provides a formal structure in which managers (1) analyze the company's external environments, (2) analyze the company's internal environment, (3) define the company's business and mission, (4) set corporate objectives, (5) quantify goals, (6) formulate strategies, and (7) make tactical plans" (Ball et al., 2007).

More management principles that are of great concern for the company are human resources for the international departments, finance functions, and customer service. Human resource understanding is a need for PM Company because since the company is going international it would be a great asset for the company to hire a vast variety of individuals with all backgrounds included. The company would truly benefit from having employees that are from different backgrounds. As it was stated at an earlier time, there are already a few employees that can help us out in their knowledge of other countries.

The aforementioned finance functions are anther viable asset to our company. Risk analysis will help us determine which countries would be our best investment with exchange rates and the country's economy taken into consideration. A SWOT analysis will also help determine the strengths, weaknesses, opportunities, and threats of our business. All of these are great ways to keep our company on top. Customer service will be kept at high ranks if we research all of these countries accurately and efficiently because we will know what to expect when it comes to culture. We must not assume that every country has the same values, ethics, and beliefs as we do. Everyone must be considered as an individual.

It is essential that we understand the different management techniques and skills that we must utilize. If we ignore the items in management that must be done, we will suffer in profits as long as the host countries will suffer from not having our products. Every item that I mentioned should be taken into consideration as they are all very serious.References

Ball, McCulloch, Frantz, Geringer, & Minor (2007). International business: The challenge of global competition. (10^th ed). McGraw-Hill

CTU Online. (2007). Phase two: Global management in practice. [multimedia presentation]. Colorado Springs, CO: CTU Online. Retrieved March 5, 2007, from CTU Online, Virtual Campus, MGM355 International Business Practices: 0701B. https://campus.ctuonline.edu