Teamwork in A Multinational Company - Added Value or Loss of Efficiency

Topics: Cultural diversity, Culture, Multinational corporation Pages: 17 (4385 words) Published: April 15, 2014
Teamwork in a Multinational Company
Added Value or Loss of Efficiency?

Table of Contents

List of Abbreviations..................................................................................................I 1) Introduction .......................................................................................................... 1 1.1) Objective ....................................................................................................... 1 1.2) Structure........................................................................................................ 2 2) Background ......................................................................................................... 2 2.1) Definitions ..................................................................................................... 3 2.2) Theories of Cultural Diversity ........................................................................ 4 3) Effectiveness of MNT's ....................................................................................... 6 3.1 Foundation of Teamwork ................................................................................ 6 3.2 Challenges and Leadership ............................................................................ 6 3.3) Potential Productivity ................................................................................... 10 4) Conclusion ......................................................................................................... 12 References .............................................................................................................. II Declaration in lieu of oath ....................................................................................... III

I

List of Figures
Figure 1: The MBI - Model ...................................................................... 9

List of Abbreviations
CBOT:

Chicago Board of Trade

MBI:

Mapping, Bridging, Integration

MNC:

Multinational Company

MNT:

Multinational Team

1

1) Introduction

1.1) Objective

Today's technology and the ongoing globalization has made teamwork throughout various countries and cultures for global players and their employees indispensable. Software developers in the United States and Europe work with programmers in India to design and improve a company's IT System; commodity traders in Europe trade futures in cooperation with oversea colleagues on the CBOT in Chicago; Finance departments pass their unhedged foreign exchange position to subsidiaries around the globe to span all time zones and to be able to react immediately on market changes.

Technological tools such as the internet and corporate intranets, virtual team rooms, video conferences, conference calls and electronic live boards enable people to work together regardless of where they are based, granting them access to viable real time information. Many companies have invested immense sums in their communication technology only to be disappointed when there is no adequate improvement in performance. Although technology enables people through communication with colleagues and business partners across the world to realize and use business opportunities, technology alone cannot capture them. Human relationships are still paramount.

"Multinational teams are often formed in hopes of producing cross-cultural collaboration. These teams face a special challenge as they work to become functional groups for, unlike groups composed of individuals from one nationality, the members of a multinational team cannot assume that they share the same beliefs about work group dynamics. It is more likely that each member approaches the assignment to a multinational team with a very different understanding about how to contribute to the development of a productive team."1 The main motivation to write about this topic comes from the opinion that with the increasing speed of globalization and the corresponding...


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