Answer to Question #264459 in Management for uti

Question

If you were an owner of an international and rapidly growing high-tech firm making sophisticated computer chips for medical equipment, (a) what do you think is the best approach to manage it and why? (b) Do you think an international firm should have local managers in all important posts? Why or why not?

Answer 1

a. The best approach to manage a high tech firm is by focusing on the aspects that will result into maximum sustainable growth. The leadership of the high tech firm must emphasize on research & development, focusing on innovation, knowledge management, knowledge transfer, and seeking towards development of better employee relationships. It is important to mention that high tech firms needs to be flexible to cope with the changes in the technological advancements and always have goals of generating revenue through devising new technologies.

b. An international firm should have local managers because a local manager will have the cultural knowledge and the ability to handle the employees of that country. This is an effective step, otherwise an international manager will experience cultural shock. The important posts are to be handled by the managers that belong locally and have the management skills of aligning their goals with the parent firm/company.