IMPLICATIONS OF GLOBALIZATION ON CROSS CULTURAL MANAGEMENT THE CASE OF BOSNIA AND HERZEGOVINA
IMPLICATIONS OF GLOBALIZATION ON CROSS CULTURAL MANAGEMENT THE CASE OF BOSNIA AND HERZEGOVINA

Summary/Abstract: We live in the era of globalization. Economies of the world are connected and without borders. The whole world is a source of business opportunities. Trade barriers are falling, money flows freely across the national borders. In globalized economy, you can buy and sell everything almost everywhere in the world with the click of mouse. Everything is global, products, standards, customers, competitions, workforce, and managers. Global managers are looking for the best source of raw materials and the best markets all around the world. However, the most important task of a global manager is to find the best people worldwide. Companies are located across the world and hire people and managers from all parts of the world. The most important characteristics of a modern global manager are to understand other cultures and the ability to work with people from different cultures. Many business deals around the globe failed simply because managers did not understand other cultures. Primary research has been done on the sample of 50 managers from all parts of Bosnia and Herzegovina. The purpose of this research is to determine the cultural characteristics of managers in Bosnia and Herzegovina and their ability to respond to the challenges of globalized world.

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