Managing An Organisation
Running a multi-national organisation in the United Kingdom or in Asia requires a strategic approach in order to enhance success. While the management can attain this internally, in most cases, the organisation may require to outsource some services such as corporate financial planning. What are some of the areas that require special attention in order to succeed?
Extra information about corporate financial planning
Risk management
A multi-national organisation faces different risks in different countries. This, therefore calls for in depth analysis of the potential risks in all the areas of operations and the possible solutions. Risk analysis and management should be a continuous exercise in order to identify new risks as they develop and come up with ways to mitigate them before they have adverse effects to the business.
Marketing and advertising
An advert that may work well in one market may not necessarily work in another. As such, companies with cross country operations must customise all their adverts to suit the market. This calls for advanced research and development efforts in order to meet the market demands. Remember that marketing and advertising must put into consideration such things as the culture, religious beliefs, the political environment as well as accessibility of the proposed media to the target market before they can be rolled out.
Corporate financial planning
For a company that operates across regions, financial planning is important to ensure positive cash flow in all areas at all times. Financial planning should involve capital injections, distribution of financial resources across countries and even tax planning. Financial planning must consider international financial and reporting standards, regulations in the specific country as well as the financial standards of the company. Successful financial planning must be implemented in order for the impact to be felt.
Alignment of goals to the country's growth
As the country grows, the economy and the companies grow. However, a growth in the economy does not always translate to the growth in the organisation. As such, the company must be very deliberate on the growth efforts and aligning them to the projected growth of the economy. Company goals that have been passed down from the executive management must be implemented with respect to the economic context for success to be realised.
Inclusivity
Multi-national organisations must strive to as inclusive as possible in their operations. But what does this mean? The use of local talent to perform different jobs, enhancing community integration through participating in different social activities and other activities that improve its standing in the society. For example, when a company introduces a new position and the local people may not have the experience or the skills to do it, they could invest in training and apprenticeship to train local people for the position and improve their standing in the society.
The success of multi-national organisations is determined by a multiplicity of factors. However, paying attention to the environment goes a long way in increasing the chances of success. However, the company must also ensure that the culture across all its operational units is aligned in order to ensure that the company is headed in the same direction.