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The term ‘transnational management’ appeared to be simple at the first, but gradually I realized this subject is more complex and intricate and one has to put lots of efforts in understanding the basics of transnational management in details.
In fact, transnational management has emerged as a critical issue for the global businesses, particularly in the contemporary era when stateless companies can be easily found anywhere in the world. Many leading economists and scholars now witness a new kind of company emerging in international economics named as the translational organization that develops its products not in the host nation, but in many countries at a moment of time.
Having a multicultural and diverse regional and geographic background, the top management and key decision makers run this translational business entity, and even primary stakeholders and shareholders of this transnational business setup belong to different regions and countries. Thus, these kind of companies make decisions and take adequate measures with little regard for so-called national borders. Now, business giants find many benefits in operating as a stateless company.
For example, stateless companies find it quite easy to solve specific trade problems and issues, which are typically faced by conventional business organizations. Transnational corporations are always in an ideal position to avoid predictable political matters and challenges and they find it easy to inevitable bypass regulatory impediments posed by the governmental bodies of a particular state or country.
During the studies, I learned many things about the subject related to the transnational management. First, I discovered that transnational management poses serious challenges to those of the global businesses that do not have a support system, which helps them make appropriate decisions when need arises.
As found in many case studies, examples of these companies include Phillips and Matsushita. In fact, these kinds of decision support systems play a vital role in the complex decision-making process in multinational corporations, as the top management of leading global organizations has to deal with extreme complexities at many fronts due to the currency variances, taxation rules, language barriers and respective governments of different states.
Global companies like Philips and Matsushita suffered mainly due to the lack of wellintegrated decision support system to deal with such inevitable complexities. In fact, effective management in enterprises enjoying a global presence requires the integration of the supportive technologies that help in decision-making based on effectual data and current information. In today’s businesses, key decision makers with myopic or tunnel vision who heavily rely on intuition and personal judgment are no longer required.
Global managers need global vision. As we enter into the age of the global village, we need computerized decision-supportive technologies to run multinational businesses smoothly and efficiently.
Thus, a cross-border management support system is the need of the hour, as transnational companies are ideally positioned to make appropriate and rational decisions and explore untapped product development ideas and scientific discoveries with more speed and rapidity, as compared to state-bound business firms and organizations.