While transacting business in the global environment, management is confronted with changing environmental factors, particularly with respect to socio-cultural factors, that required appropriate adaptation of the strategies that the organization is pursuing to accomplish its long-term goals and objectives (Adler, 2002). Organizations that successfully tailor its strategy according to the changed environmental dynamics are in a better position to accomplish its long-term goals and objective, while the organization that failed to adopt an appropriate strategy usually encounter immense difficulties in accomplishing its long-term goals and objectives (Tayeb, 2003).
Table of Contents
1. Introduction to Topic: 3
2. Impact of Culturalist and Institutionalist Approach on the HR Functions in an MNC: 4
3. Conclusion: 8
4. Works Cited 10