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GLOBAL CompaniesGlobal companies are companies that are able to compete with anyone, anywhere, at any time.
In most cases, they conduct business on a global scale, and their products are sold in all major markets in the
world, creating extensive global activities through an integrated national market.
Diversification of economic activities enables global companies an easier access to international markets, large
scale economies, access to cheap raw materials, the skipping of tariff barriers, and thereby gain a competitiveadvantage.
http:books.google.co.inbooks!id"#$xu%y&d'()*+pg"($+d-"//define0global0companies//+hl"en+sa"1+ei"kxG2p&3Icvrr4e5mIDg6w+ved"7**849;w
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8C Creative !uman resources: ?uman resources are an important element of a modern organi&ation. In
contemporary conditions, the success of the organi&ation depends primarily on people. #ince people with
knowledge and behaviour are the main factor for the success of organi&ations, leadership becomes the most
important function and task of the management. 'eadership seeks to motivate and direct individuals in the
right direction. @n the other hand, the growth and development of the organi&ation align with the vision, in
order to achieve the best position in the global market. @f all the skills and abilities necessary to learn,
creativity is the most widely recogni&ed and preferred. =here are two essential aspects of creativity that are
essential to effective learning: personal flexibility and willingness to take risks. Global organi&ations foster
and promote both.
%C Climate of e#ualit$:Global organi&ation creates a climate of e-uality in which all employees, customers,
owners, suppliers and communities are treated with respect and dignity. =he creation of such environment
in different organi&ations is approached in a variety of ways. >or example, each member of the companyEs
HalAartH is a kind of coAworker, so there are no subordinates. elationship with our clients in the chain
of Hit&A*hartlonH hotels is so arranged that when a guest asked where to find a place in the hotel, an
assistant would interrupt their work, whatever they were doing, and become a personal guide to the guests
to the re-uired places.
nother sign of e-uality approaches is the way the global organi&ation treats its suppliers. In the past,organi&ations would negotiate with suppliers and fight each other in order to achieve the lowest possible
price. In case of e-uality approaches, this strategy was abandoned in favor of e-uality approaches in which
the supply side is viewed as an integral part of the team.
9C ec!nical support:Global organi&ations are increasingly becoming less connected to a specific location,
their jobs are permanently spread around the world, so that the coordination of the activities is carried out
with the technological support that enables faster and more flexible interaction. =he development of
information technology greatly facilitates the coordination of remote operation and use of the internet is
increasingly becoming a powerful means of expanding global operations. =echnologies change people,
nature of economic relations and the effectiveness of individual organi&ations. =hey serve to those who
know how to overcome them, and are used as a competitive advantage, and destroy the economic entities
that are slow in their use and recognition of the benefits that this process brings. 5ew technologiescontribute to increasing competitiveness in the global market, both by improving the -uality and design,
and on the basis of cost cuts and price. =he transfer of technological knowledge is a crucial advantage of
global organi&ations, and their strength is reflected in the ability to use high technology.
$C Openness:If the organi&ation is viewed as a whole made up of several interconnected parts, it is often
emphasi&ed that there is a link with the environment and that it is open to its influences. Global
organi&ations are not only ready to accept new trends. =hey are encouraging indications of change.
Instead of fighting change, they learn how to adapt, how to create and draw profit from them. In this sense,
they emphasi&e the need for understanding and applying concepts of openness to different cultures. =heir
managers empower associates, simplify the structure and are flexible on all issues.
JC %elf&efficienc$:#elfAefficiency involves confidence and belief in their individual capacity, resources and
ways of action that are needed to successfully achieve a task. 6efore selecting their choices and startrunning, employees want to measure, evaluate and integrate information about their abilities. In this sense,
it is important that global organi&ations can promote and develop selfAefficiency, to take advantage of a
positive impact on the performance of the activities of employees and the achievement of competitiveness.
=here is a number of specific ways in which selfAefficiency can be developed Keg assurance that employees
will experience success, verbal persuasion, or training by learning through othersC, but global organi&ations
also use the more general approach to creating a climate or culture that teaches and promotes selfA
awareness and active troubleshooting. #elfAconsciousness arises from a clear organi&ational vision that
provides direction in relation to the critical choices and provides feedback on the results of a response.
6asically, the staffs are taught to actively seek information about the impact their behaviour has on others
and on things that matter to others, in order to maximi&e their own efficiency.
LC Cultural understanding:It is generally accepted that the culture of a society represents its shared values,
understanding, assumptions and goals that are transmitted from generation to generation. =hese are the
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common attitudes, behaviours and expectations, which are subconsciously run and controlled by certain
norms of behaviour. person is born in a given culture, not with it, and is built up through a process of
sociali&ation. *ultures resulted in a life basis, based on mutual communications, standards, F/7 codes of
conduct or expectations. @ver time, cultures have evolved along with society adapting to changes in
external or internal environment.
http:www.tf&r.uns.ac.rsemcemc/7BB>ilesD/7B7.pdf
'ifferences bet(eenInternational Compan$and 'omestic Compan$ is:Basic: Domestic company is the exchange of goods, services, or both within the confines of a national territory.
=hey are always aimed at a single market. It always deal with only one set of competitive, economic.
International company exchange of capital, goods, and services across nations is called International =rade. It is
always a major source of economic revenue for any nation and in absence of the same nations.
%cope:#cope of international company is -uite wide. It includes not only merchandise exports,but also trade inservices, licensing and franchising as well as foreign investments. Domestic company pertains to a limited
territory. =hough the firm has many business establishments in different locations all the trading activities areinside a single boundary.
Benefits:International company benefits both the nations and firms. Domestic company have lesser benefits
when compared to the former.
o t!e nations:=hrough international company nations gain by way of earning foreign exchange, more
efficient use of domestic resources, greater prospects of growth and creation of employment opportunities.Domestic company as it is conducted locally there would beno much involvement of foreign currency. It cancreate employment opportunities too and the most important part is business since carried locally and alwaysdealt with local resources the perfection in utilisation of the same resources would obviously reap the benefits.
o t!e firms:=he advantages to the firms carrying business globally include prospects for higher profits,greater utili&ation of production capacities, way out to intense competition in domestic market and improvedbusiness vision. (rofits in domestic trade are always lesser when compared to the profits of the firms dealing
transactions globally.
)ar*et Fluctuations:>irms conducting trade internationally can withstand these situations and huge losses as
their operations are wide spread. =hough they face losses in one area they may get profits in other areas, this
provides for stabili&ing during seasonal market fluctuations. >irms carrying business locally have to face this
situation which results in low profits and in some cases losses too.
)odes of entr$: firm desirous of entering into international company has several options available to it.
=hese range from exportingimporting to contract manufacturing abroad, licensing and franchising, joint
ventures and setting up wholly owned subsidiaries abroad. ;ach entry mode has its own advantages anddisadvantages which the firm needs to take into account while deciding as to which mode of entry it should
prefer. >irms going for domestic trade does have the options but not too many as the former one.
=o establish business internationally firms initially have to complete many formalities which obviously is a
tedious task. 6ut to start a business locally the process is always an easy task. It doesnMt re-uire to process any
difficult formalities.
%!aring of ec!nolog$:International company provides for sharing of the latest technology that is innovated
in various firms across the globe which in conse-uence will improve the mode and -uality of their production.Political relations: International company obviously improve the political relations among the nations whichgives rise to *rossAnational cooperation and agreements. 5ations coAoperate more on
transactional issues.n international company is a business whose activities are carried out across national borders. =his differs
from a domestic company is a business whose activities are carried out within the borders of its geographical
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location. domestic company is one that confines its activities to the local market, be it city, state, or the
country it is in. It deals, generally, with one currency, local customs and cultures, business laws of commerce,
taxes and products and services of a local nature. =he international company, on the other hand deals with
businesses and governments in one or more foreign countries and is subject to treaties, tariffs. currency rates of
exchange, politics, cultural differences, taxes, fees, and penalties of each country it is doing business in. It may
also be conducting business in itMs home country, but the emphasis is on trading in the international
marketplace.http:www.assignmentpoint.combusinessmanagementassignmentAonAhowAinternationalAcompanyAisAdifferentAfromA
domesticAcompany.html
+,ALI- %.OC
eality shock is defined as the shock like reaction of new workers when they find themselves in a work
situation for which they have spent several years preparing for and for which they thought they were going to
be prepared, and then they suddenly reali&e that they are not.
%tages of +ealit$ %!oc*
., .O0,-)OO0 P,+IO'
hen you were first hired at your current job, or when you transferred to another department or unit, you likelyhad feelings of excitement and anticipation surrounding your new position. )ou were also probably thrilled,
maybe grateful, to get hired. (erhaps you had just completed extensive education andor training to be -ualified
for this new position. )ou probably had butterflies before starting your new job, but enthusiastically jumped out
of bed on your first day or so. )ou may have been excited about the process of getting your ID badge, to learn
where to park, where to eat, your way around the facility and to meet new coAworkers. )ou may even have
dreamed of really making a difference.
During this initial period of employment, there is often an orientation period, probably one involving the total
healthcare facility, to provide the information you need to function effectively in the organi&ation. It may have
familiari&ed you with such things as the mission, purpose and goals of the facility, as well as safety issues.
=here also was likely a unit andor positionAspecific orientation. @ften new employees will be assigned a
preceptor, a mentor or buddy. It may also be a more informal relationship, where an experienced employee
takes a new employee Nunder their wing.O emember, new employees, no matter their age or experience, often
feel overwhelmed with all the new information, such as policies and procedures, and may be concerned with
how they will remember, let alone, how they will follow it all. =o benefit the whole team, it is advisable that all
NoldO employees make every attempt to be helpful, reassuring and welcoming to the newcomer, rather than
taking on a Nsink or swimO philosophy.
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http:www.pchonline.orgesourcesDocsGrowing/72p/7ith/72s/7Documents(ersonalGrowtharch
/7/77L/7eality/7#hock/7K=he/7?oneymoon/7is/7@verC.pdf
http:www%/.homepage.villanova.edumaureen.sullivancoursematerialleadmanage7J*onflictanagement.htm
Cultural %!oc*
*ultural shock is defined as a psychological disorientation that most people experience when living in a culture
markedly different from oneMs own. *ulture shock occurs when our H...cultural clues, the signs and symbols
which guide social interaction, are stripped away. ... difficult part of this process for adults is the experience
of feeling like children again, of not knowing instinctively the PrightM thing to do.H
*ulture #hock is a normal, healthy psychological reaction to the stress of living in a different culture. )ou
experience feelings of tension and anxiety because you have lost familiar cultural cues. )our actions do not
always get you what you want. nd your inability to communicate effectively with others is frustrating.
http://www.pchonline.org/Resources/Docs/Growing%20Up%20With%20Us%20Documents/PersonalGrowth/March%202009%20Reality%20Shock%20(The%20Honeymoon%20is%20Over).pdfhttp://www.pchonline.org/Resources/Docs/Growing%20Up%20With%20Us%20Documents/PersonalGrowth/March%202009%20Reality%20Shock%20(The%20Honeymoon%20is%20Over).pdfhttp://www52.homepage.villanova.edu/maureen.sullivan/coursematerial/leadmanage/08ConflictManagement.htmhttp://www.pchonline.org/Resources/Docs/Growing%20Up%20With%20Us%20Documents/PersonalGrowth/March%202009%20Reality%20Shock%20(The%20Honeymoon%20is%20Over).pdfhttp://www.pchonline.org/Resources/Docs/Growing%20Up%20With%20Us%20Documents/PersonalGrowth/March%202009%20Reality%20Shock%20(The%20Honeymoon%20is%20Over).pdfhttp://www52.homepage.villanova.edu/maureen.sullivan/coursematerial/leadmanage/08ConflictManagement.htm8/13/2019 Preeti Searching Unit 1
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%$mptoms of Cultural %!oc**ulture shock is caused by the stress of being in a new culture and is a normal part of adjusting to a new place.
hen you live in a new culture, your own values are continually brought into -uestion. lso, you are cut off
from the cultural clues and known patterns with which you are familiar.
nxiety *rying a lot
Irritability ?opelessness
?omesickness Distrust of hosts
Depression ithdrawal
>atigue #tereotyping
6oredom #elfAdoubt
voiding contact with host nationals Difficulty studying effectively
http:agemAethnomedi&in.dedownloadcu/L3/AF3/7793#3B8/AB893epr3@berg.pdf
http://agem-ethnomedizin.de/download/cu29_2-3_2006_S_142-146_Repr_Oberg.pdfhttp://agem-ethnomedizin.de/download/cu29_2-3_2006_S_142-146_Repr_Oberg.pdf8/13/2019 Preeti Searching Unit 1
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http:books.google.co.inbooks!id"s7Dop7$hy=)*+pg"(J$+d-"cultural0shocks+hl"en+sa"1+ei"*QdG2vaFcvhrfg)?g6g+ved"7*>w49
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id"s7Dop7$hy=)*+pg"(J$+d-"cultural0shocks+hl"en+sa"1+ei"*QdG2vaFcvhrfg)?g6g+ved"7*>w49;w*4
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%trategies coping to Culture %!oc*:#trategies coping to culture shock are as follows:
B. eali&e that culture shock is a natural part of adjusting to a new culture. (ractically everyone who lives
abroad experiences culture shock to some degreeRyou are not alone. If you are familiar with the symptoms of
culture shock and anticipate them, you will have an easier time adjusting.
/. DonMt be afraid to share your feelings with others. =alk to other international students about what you arefeeling and experiencing. )ou will probably find that others can relate to how you are feeling.
F. 6ecome involved in activities on campus or in the community. =his is a good way to meet people and will
help enrich your time in the 2nited #tates. If you feel uncomfortable joining a program or activity, ask a friend
to come with you.
8. Develop a Nsupport system.O 6eing away from family and friends who normally support you can be difficult.
It is important to connect with others who can provide you support.
%. =ake care of yourself. 'iving in a foreign country can be very stressful on your body. emember to get
plenty of rest, eat well, and exercise. Soin an intramural sport and cook your favorite dish from your country, or
try the local ethnic grocery stores.
9. =ake some Ntime out.O #peaking a foreign language all day can be very exhaustingT emember to spend
some -uiet time each day reading a book or listening to music in your own language.
$. Qeep your sense of humor. It is important to be able to laugh. llow yourself to see the humor inmisunderstandings and embarrassing situations.
J. #et small goals for yourself. emember that many of the things that were easy for you may not be so easy in
a new culture. ake realistic goals so you can feel good about reaching them.
L. sk -uestions and learn from others. If you donMt understand something, remember that it is okay to ask for
help. @#2 faculty and staff, classmates, and other international students can help answer your -uestions and
increase your understanding of merican culture.
B7. Qeep a positive attitude. )ou will most likely experience some negative feelings while you are in the 2.#.
hile this is perfectly normal, it is important to not let them dominate you. )ou might try keeping a list of your
enjoyable experiences so your outlook remains positive.
http:oregonstate.eduinternationalatosuresourcesadjustment
%cope/Areas of I.+)
http://oregonstate.edu/international/atosu/resources/adjustmenthttp://oregonstate.edu/international/atosu/resources/adjustment8/13/2019 Preeti Searching Unit 1
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International Compensation
=his is one of the most complex areas of international ?. #ince different countries have different norms for
employee compensation, managers should consider carefully the motivational use of incentives and rewards.
=he whole area of international compensation management presents some tricky problems. @n the one hand,
there is certain logic in maintaining companywide pay scales and policies so that, for instance, divisional
marketing directors throughout the world are all paid within the same narrow range. =his reduces the risk of
perceived ine-uities and dramatically simplifies the job of keeping track of disparate countryAbyAcountry wage
rates.
https:www.sidweb.espol.edu.ecpublicdownloaddoDownload!
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bridge the yawning chasm between their companiesE human resources rhetoric and reality. ?.. must now be
given a prominent seat in the boardroom.
Good ?.. management in a multinational company comes down to getting the right people in the right jobs in
the right places at the right times and at the right cost. =hese international managers must then be meshed into a
cohesive network in which they -uickly identify and leverage good ideas worldwide.
Implementing the ideas can be broken down into B7 steps. 6y taking these steps, a company should be able to
put into place an effective global human resources program within three to four years.
BC Brea* all t!e 1local national1 glass ceilings: =he first, and perhaps most fundamental, step toward
building a global ?.. program is to end all favoritism toward managers who are nationals of the country in
which the company is based. *ompanies tend to consider nationals of their head-uarters country as
potential expatriates and to regard everyone else as Hlocal nationals.H 6ut in todayEs global markets, such
HusAversusAthemH distinctions can put companies at a clear disadvantage, and there are strong reasons to
discard them:
;thnocentric companies tend to be xenophobic AA they put the most confidence in nationals of their
head-uarters country.
6ig distinctions can be found between expatriate and local national pay, benefits and bonuses, and thesedifferences send loud signals to the brightest local nationals to learn as much as they can and move on.
'ess effort is put into recruiting topAnotch young people in overseas markets than in the head-uarters
country. =his leaves fastAgrowing developing markets with shallow bench strength.
Insufficient attention and budget are devoted to assessing, training and developing the careers of
valuable local nationals already on the company payroll.
/C race $our lifeline: 6ased on your companyEs business strategy, identify the activities that are essential to
achieving success around the world and specify the positions that hold responsibility for performing them.
=hese positions represent the HlifelineH of your company.
=his second step re-uires integrated teams of business and ?.. specialists working with line managers.
@ver time, they should extend the skills descriptions to cover all of the companyEs executive posts.
=he lifeline and role descriptions should be revisited at least annually to ensure they express the business
strategy. any companies recogni&e the need to review the impact of strategy and marketplace changes on
highAtechnology and +D roles but overlook the fact that managerial jobs are also redrawn by market
pressures.FC Build a global database to *no( (!o and (!ere $our talent: =he main tool of a global ?.. policy has
to be a global database simply because multinational companies now have many more strategic posts
scattered around the globe and must monitor the career development of many more managers. lthough
some multinational companies have been compiling worldwide ?.. databases over the past decade, these
still tend to concentrate on posts at the top of the organi&ation, neglecting the middle managers in the
country markets and potential stars coming through the ranks.
8C Construct a mobilit$ p$ramid:;valuate your managers in terms of their willingness to move to new
locations as well as their ability and experience. ost ?.. departments look at mobility in blackAorAwhite
terms: HmovableH or Hnot movable.H 6ut in todayEs global markets this concept should be viewed as a
graduated scale and constantly reassessed because of changing circumstances in managersE lives and
company opportunities. =his will encourage many more managers to opt for overseas assignments and open
the thinking of line and ?.. managers to different ways to use available inAhouse talent.
%C Identif$ $our leaders!ip capital: 6uild a database of your companyEs mix of managerial skills by
persuading people to describe the information in their c.v.Es, their management talents and their potential on
standard personalAprofile templates. SumpAstart the process by having your senior managers and those in the
lifeline posts complete the forms first. dd others worldwide with the potential to move up. Include
functional specialists who show general management potential.
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e-uire over time that every executive join the global ?.. system. =his makes it harder for uncut
diamonds to be hidden by their local bosses. ecogni&ing that peopleEs situations and career preferences
shift over time, hold all managers and technical experts responsible for updating their c.v.Es and reviewing
their personal profiles at least once a year.
9C Assess $our benc! strengt! and s*ills gap: sk each executive to compare his or her skills and
characteristics with the ideal re-uirements defined for the executiveEs current post and preferred next post.
Invite each to propose ways to close any personal skills gaps AA for example, through inAhouse training,
mentoring, outside courses or participation in crossAborder task forces.
*ompare the skills detailed in the personal assessments with those re-uired by your business strategy. =his
information should form the basis for your management development and training programs and show
whether you have time to prepare internal candidates for new job descriptions.
$C +ecruit regularl$: #earch for new recruits in every important local market as regularly as you do in the
head-uarters country. Develop a reputation as Hthe company to joinH among graduates of the best
universities, as *itibank has in India, for example.
=he best way to attract stellar local national recruits is to demonstrate how far up the organi&ation they can
climb. lthough many >ortune %77 companies in the 2nited #tates derive %7 percent or more of theirrevenues from nonAdomestic sales, only B% percent of their senior posts are held by nonAmericans.
=here may be nothing to stop a local national from reaching the top, but the executive suite inevitably
refiects where a company was recruiting F7 years earlier. ;ven today, many multinational companies
recruit disproportionately more people in their largest AA often their longestAestablished AA markets, thereby
perpetuating the status -uo.
JC Advertise $our posts internall$: un your own global labor market. In a large company, it is hard to keep
track of the best candidates. >or this reason, I.6.. now advertises many of its posts on its worldwide
Intranet. 2nilever usually advertises only posts in the lower two pools, but this policy varies by country and
by business unit.
outine internal advertising has many advantages in that it:
llows a competitive internal job market to function across nationalities, genders and other categories.
#hows ambitious people they can make their future in the company. akes it harder for bosses to hide their leading lights.
ttracts highAfiyers who may be ready to jump ship.
?elps to break down businessAunit and divisional baronies.
educes inbreeding by transferring managers across businesses and divisions.
Gives the rest of the company first pick of talent made redundant in another part of the world.
#olidifies company culture.
Is consistent with giving employees responsibility to manage their own careers.
=here are also certain disadvantages to this practice: 'ine managers have to fill the shoes of those who
moveV a central arbiter may need to settle disputes between departments and divisions, and applicants not
chosen might decide to leave. =o prevent that, disappointed applicants should automatically be routed
through the career development office to discuss how their skills and performance mesh with theirambitions.
LC Institute succession planning: ;very manager in a lifeline job should be re-uired to nominate up to three
candidates who could take over that post in the next week, in three months or within a year, and their bosses
should sign off on the nominations. =his should go a long way toward solving succession -uestions, but it
will not resolve them completely.
=he problem in large multinational companies is that many of todayEs successors may leave the company
tomorrow. In addition, managers name only those people they know as successors. =hird, the chief
executives of many multinational companies keep their succession plans AA if they have any AA only in their
heads. =his seems to overlook the harsh realities of life and death. better approach is that of one
;uropean shipping magnate who always carries a written list with the name of a successor for the captain of
every boat in his fieet.
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B7C C!allenge and retain $our talent: Global networks that transfer knowledge and good practices run on
peopleAtoApeople contact and continuity. ;xecutive continuity also cuts down on turnover, recruitment and
opportunity costs. s international competition for talent intensifies, therefore, it becomes increasingly
important for companies to retain their good managers. onetary incentives are not sufficient: the package
must include challenge, personal growth and job satisfaction.
policy should be adopted that invites employees to grow with the company, in every market. In addition,
a career plan should be drawn up for every executive within his or her first B77 days in the organi&ation.
nd plans should be reviewed regularly to be sure they stay aligned with the business strategy and the
individualEs need for job satisfaction and employability.
@verseas assignments and crossAborder task forces are excellent ways to challenge, develop and retain good
managers. =hey can also be awarded as hori&ontal Hpromotions.H =his is particularly useful since the fiat
organi&ations currently in fashion do not have enough levels for hierarchical promotions alone to provide
sufficient motivation.
ost multinational companies now do a good job of globali&ing the supply chains for all their essential raw
materials AA except human resources. (layers in global markets can no longer afford this blind spot. *ompetition
for talent is intensifying, and demand far outstrips supply. =o have the multicultural skills and vision they need
to succeed, companies will have to put into place programs that recruit, train and retain managers in all their
markets.
If companies are to handle the challenges of globali&ation and shift to a knowledgeAbased economy, they must
develop systems that Hwalk their talkH that people are their most valuable resource. =he purpose of a global
?.. program is to insure that a multinational company has the right talent, managerial mobility and cultural
mix to manage effectively all of its operating units and growth opportunities and that its managers mesh into a
knowledgeAsharing network with common values.http:www.strategyAbusiness.comarticleLL9$!gko"db$bL
http://www.strategy-business.com/article/9967?gko=db7b9http://www.strategy-business.com/article/9967?gko=db7b9Recommended