INTERNATIONAL BUSINESS PAPER

International Business Paper

Table of Contents

Executive Summary1

Introduction2

Factors for Consideration2

Human Resource Strategy5

The Responsibilities of Effective HR Managers6

Recruitment Process8

The Process of Staffing8

The Process of Employee Outsourcing8

Employee Retention9

Employee Training10

Performance Measurement Process11

Performance Assessment12

Employee Compensation12

Impact of Effective HRM on Telecom corporation al Performance12

Culture and Telecom Corporation13

Culture and Telecom Corporation14

Measurement and Improvement Activities15

Exchange Rate Issues16

European Union17

References20

Executive Summary

The purpose of this paper is to enlighten and explore the significance of human resource management in multi-national corporations. This paper aims to enlighten different perspectives of human resource management; in addition, the paper discusses that the human resource management is concerned with employee management in multi-national corporation s. Human resource management is a dynamic field, evolving quickly from its early focus on understanding the patterns of impact of HRM practices and systems on performance to embracing the mediating mechanisms. At the same time, researchers in this area continue to push the boundaries of what we know and are engaging in exciting research that delves deeper into the mediating mechanisms of how HRM systems work.

International Business Paper

Introduction

Postal Telecom Mobile (PTM) is a medium sized manufacture of mobile phone accessories in the United Kingdom. They employ about 150 people of which 110 are directly engaged in physical manufacture. Of the remaining members of staff 20 are managers and the remaining 20 are a mix of clerical and support staff. After twelve years manufacturing in East London they have decided to look elsewhere on their current factory is about to expire.

After two recent successful exhibitions in Budapest they have been convinced by two of their oldest Hungarian clients that Hungary would be a potentially suitable site to move their business.

The technology industry suffers a significant impact due to dynamic market trends. The performance of such an industry is determined by the external environment. However, there is not much that companies can do to influence these factors. Nonetheless, companies look to adapt themselves in the dynamic environment to meet the changing needs and gain competitive advantages. There are several factors that we need to consider (Betty 2011, 1-5).

Factors for Consideration

The most significant recent change to the Hungarian regulatory environment was the implementation of the Markets in Financial Instruments Directive (Mifid) at the end of 2007, after a long period of consultation and discussion. This legislation has a direct impact on financial market activities. Moreover, in the summer of 2007, the Hungarian Parliament adopted a new Law which introduced important changes regarding takeover rules in Hungary, which might affect takeover transactions in the future. Some changes in the field of competition law introduced in the first half of 2008 are also of special importance (Betty 2011, 1-5).

Consumers from the Hungarian market have become increasingly health conscious, and prefer products which have good quality. The same applies for both goods and services. Customers want quality. The trend has become similar to that of the Western European area. Companies which are quick to adapt their technology to the changing needs can survive competition. For instance, it is imperative for telecom companies to continuously produce innovative, ...