+44-7897-074717Mini Review - Journal of Research in International Business and Management ( 2023) Volume 10, Issue 1
Received: 27-Dec-2022, Manuscript No. JRIBM-22-84012; Editor assigned: 29-Dec-2022, Pre QC No. JRIBM-22-84012(PQ); Reviewed: 12-Jan-2023, QC No. JRIBM-22-84012; Revised: 27-Jan-2023, Manuscript No. JRIBM-22-84012(R); Published: 03-Feb-2023, DOI: http:/dx.doi.org/10.14303//jribm.2023.001
Employee is the key to every business. Any business requires Land, Labour, Capital and Entrepreneurship. But most important is smart and hard worker plus ,honest employee for every successful enterprise .If the worker are sufficient in their area with their academic Education, Knowledge along with their professional skills then he/she can advise to his senior/owner of business to take challenge and necessary steps to achieve their goals efficiently and effectively. International business leads to Globalization and work on Larger scale where as Domestic business is work with in the territory of home country. Research on the mind set of global business employees and domestic business employee is all what business is concerned with and depend on the scale of the enterprise. Following points to be taken into consideration to understand better.
International business management, Training, Motivation
Salaries and wages are the main component for an employee or worker to go outside and work for his livelihood. Salaries and wages at international business management is high as comparison to domestic business. Salary and wages at international business is in foreign currency which high as compare to currency in domestic currency. MNE’s which are operating from in developed countries give high salary/ wages plus attractive incentives as well as better standard of living. If the standard of living is high then the employee is much satisfies from his household and he is able to give his maximum output to the organization (Cavusgil et al., 2008) figure 1 & 2.
Figure 1. Flow chat of international and domestic business.
Figure 2. Employee Mind-set vs Entrepreneur Mind-set.
Technical/Professional Skills: Training programme should be given for the employee betterment .Some of the MNEs also providing training and personality development programmes for their employees due to cultural barriers in International business, to understand the culture and society of that country better and in results the employee sharpen their knowledge and skills better as compare to employees working in domestic (Ghemawat, 2003).
Business: The Views exchange and Transformation of knowledge also increases in employee development programmes. It results in high thinking which directly or indirectly help their children also to grow well (Hofstede, 1994) figure 3.
Figure 3. Risks in international business.
Industrial Training Programme: Every organization and every industry wants to grow the skills of an employee. In this regard industry started training programme for the workers and Employee. Due to technical or technological changes frequently arises in market an industry should follow the market norms and upgrade their employee through training and development programmes but this can be only done by MNE’s rather than dealing entrepreneur in domestic business as it require huge money (Leung et al., 2005).
Vocational Training: Due to COVID 19 most of the industries in past recent years had shut down. This domestic business has increase in number rather than business at international level. Now MNEs again has started vocational training programmes for achieving their goals sufficiently and successfully. It gives proper knowledge international Trade, Knowledge of regulation act globally, knowledge to deal with cultural barriers etc (Yang et al., 2006).
1. MNEs always doing survey to analyze the employee mind-set
2. Well organize training and development programmes.
3. Cultural activities should be done for the welfare of employee
4. Motivation of employee is necessary
5. Good leadership should be there
6. Understanding between senior and subordinates.
7. Authority and responsibility equally delegated so that accountability can be define easily.
Employee and his mind-set to any organization is very important component to fulfil employee target which directly relate to organizational goals. With the help of training, motivational activities like yoga, cultural activities ,seminars, conferences ,group discussion, Views exchange increase the mind-set of employee they feel confident towards their work. Better leadership is necessary for any business whether it is in domestic territory of a country or the business is running globally. Distance education learning programmes should also give the strength to the employee mind-set and to understand world better and increase their knowledge and key skills.
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Citation: Khan AH (2023). Employee mind-set is more satisfied in international business as compare to domestic business. JRIBM. 10: 001.
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