DQ1
When they accept foreign assignments, how can expatriates prepare for such an assignment risk?Please post your response no later than Day 4 (Thursday). A minimum response of 250-300 words is required for the initial response. Make sure to include full references and in-text citations for all posts as appropriate based on content of the post.
Kindly respond to your colleagues postings by:• Asking a probing question,• Sharing an insight from having read your colleague’s posting,• Offering and support an opinion,• Validating an idea with your own experience,• Making a suggestion or by,• Expanding on your colleague’s posting.
DQ2
Please use this thread to submit your Hot Topic for this week. Select a topic from the following list below. Begin as soon as possible, preferably on Day 1 but no later than Day 5 so others have an opportunity to engage in conversation.
“Hot Topics”
1. Describe the Dynamics of the International Organization
2. Explore the International Monetary System
3. Examine and Understand the Financial Forces that influence International Business
4. Compare ethical business practices in various world regions
R1
Companies are expanding internationally in pursuit of new markets and revenues, necessitating the hiring of expatriate workers. A failed ex-pat assignment occurs when a business sends a highly skilled and well-paid specialist on remote work, only to have them return early or perform below expectations. The cost of sending an employee abroad depends on their level of pay, the size of their family, and the location. Moving expenses, talent acquisition fees, school tuition if there are dependent children, and other costs are also involved. Additionally, non-financial expenses include lost productivity and the psychological and emotional toll on the worker and family. These expenses could reach the hundreds of thousands.
To prevent this failure, I suggest these eight tips to prepare expatriates for foreign assignments, of which I will elaborate on the one I find to be very significant;
Pre-Move Instruction.
Immigration support procurement.
Make sure the dialogue doesn’t stop.
On-site assistance should be given.
Hold meetings to align projects.
Spend money on knowledge management.
Sponsoring the home and the host.
Consider household responsibilities.
Expatriates must learn to do thorough research on the job functions and possible challenges he is likely to encounter in the country he or she is going. For instance, a particular nation can demand that a specific tax structure be set up for expatriates or business visitors. You must learn about the requirements that are relevant to your expatriation. Cultural training is also a must to prevent accidental faux pas, learn about the organization’s aim and objectives, and finally engage in their local language training.
ReferencesGlobal Expansion. (2022, September 26). 8 Tips for Preparing Expatriates for Foreign Assignments. p. 8. Retrieved from https://www.globalexpansion.com/blog/tips-for-prep…
R2, R3
