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The 4Es of Management: Managing Cultural Exchange in Multinational Corporations

Markopoulos, E; Gann, EL; (2021) The 4Es of Management: Managing Cultural Exchange in Multinational Corporations. In: Advances in Creativity, Innovation, Entrepreneurship and Communication of Design. (pp. pp. 189-198). Springer Nature Green open access

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Abstract

Despite the obvious benefits that Multinational Corporations (MNCs) have on developing economies, those often come together with tremendous externalities. Rather than exploiting cost drivers and cost savings to deliver cheaper products to the Western customer, MNCs could try to find more ways to cater to local markets profitably whilst contributing to resolving social challenges. This paper introduces a management framework that facilitates knowledge-exchange between local organizations and the MNCs for a more targeted product development that can effectively respond to the local needs. This research explores the relationship between MNCs and developing markets; it highlights the pitfalls of new product development efforts for such markets in depth before touching upon more effective ways of generating innovative intellectual capital for product development practices; it introduces the 4Es Management Framework that can solve cultural exchange challenges in MNCs, and lastly, it elaborates on how this can constitute alternative CSR initiatives.

Type: Proceedings paper
Title: The 4Es of Management: Managing Cultural Exchange in Multinational Corporations
Event: International Conference on Applied Human Factors and Ergonomics
ISBN-13: 978-3-030-80093-2
Open access status: An open access version is available from UCL Discovery
DOI: 10.1007/978-3-030-80094-9_23
Publisher version: https://doi.org/10.1007/978-3-030-80094-9_23
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher's terms and conditions.
Keywords: Multinational companies, New Product Development, CSR, International Business, Organizational Culture, Company Democracy
UCL classification: UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > UCL School of Management
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL
URI: https://discovery.ucl.ac.uk/id/eprint/10153254
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