Corporate strategy assumes a new dimension when formulated and implemented in the context of varied cultures. This new dimension centres on developing corporate strategy that is global in coverage and vision, but capable of local adaptation and interpretation. The corporate strategy thus determined can incorporate local management perspectives, conditioned by the local cultural ethos, without distorting the overall grand design and global objectives. The challenge lies in the integration of local relevance into the transnational corporation's global configuration.

The top management echelon of a transnational organization determines the overall corporate strategy. This echelon must have an understanding of the local context of the countries where the transnational organization has operations. There are many ways in which this understanding can be achieved. One approach is for the members of the top management echelon to actually visit a country and study how its culture interfaces with management practices. Such visits should be conducted at periodic intervals. Local culture can be harnessed to accelerate the execution of strategy if it is properly understood . By the same token, local culture can create barriers if it is not explicitly taken cognizance of and empathized with.

Intercultural Management
Intercultural Management: MBA Masterclass (MBA Masterclass Series)
ISBN: 0749435828
EAN: 2147483647
Year: 2002
Pages: 98
Authors: Nina Jacob

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