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The Role Of Family Business Essay

8507 words - 35 pages

TABLE OF CONTENTS
Abstract................................................................................ 2
1.0 Introduction........................................................................... 3
2.0 Literature supporting issues...................................................... 7
3.0 Literature not supporting issues................................................ 12
4.0 Discussion............................................................................. 17
5.0 Conclusion............................................................................. 26
6.0 References............................................................................ 28

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ABSTRACT
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The demand for expatriate employees, both long-term and short-term, is growing rapidly as it becomes increasingly necessary for firms to expand globally in response to the internationalisation of markets, competition, and technology. In today’s global economy it is critical to attract, develop and retain employees with global knowledge and experience. These employees represent the human capital that is a key resource for creating and sustaining a company worldwide competitive advantage. At times, however, it may become difficult to find employees willing to accept international assignments, for host-location, professional, and/or personal reasons. For instance, concerns about safety and security have increased in a post-9/11 world (Cox et al., 2007; Suder, 2004, as cited in cole et al., 2011). Employees are also concerned with the stress of cross-cultural relocation on their family and on the education and social development of their children (Haslberger and Brewster, 2008 as cited in cole et al., 2011). In addition, the increasing prevalence of dual-career families presents unique challenges for many employees considering global postings (Harvey et al., 1999; Permits Foundation, 2009 as cited in cole et al., 2011). Skills developed during international assignments are also often underutilized upon repatriation, and in some cases career development is hindered rather than enhanced by the time spent on assignment.
However rapid increases in demand due to the continuing globalization and managers increasing doubts of the advantage of pursuing an expatriate career have contributed to a supply crisis (Selmer & Leung 2002). Currently, many multinationals face a severe shortage of executives with the skills, knowledge and sophistication to operate in a competitive global environment (Caliguiri, 2002). Traditionally, the pool of potential expatriate candidates has excluded women. However international firms cannot any longer afford to limit their pool of talented human resources by excluding particular groups of employees. Now it is time for multinationals to broaden now their recruitment base (Paik & Vance, 2002).
Business firms are increasingly becoming aware that the key to success in the marketplace rests with their ability to mobilize and utilize their human resource talent in formulating and implementing new global business strategies. To achieve that, many medium-sized and large companies send professionals abroad and many of them plan to increase their number of expatriates (Selmer & Leung, 2003). Expatriates play important roles in joint venture negotiations, subsidiary management, new market development, technology transfer and, more generally, in developing a firm’s global competence (Caligiuri, 2000). Thus, the choice of an individual for an expatriate assignment looms large as a key, strategic selection decision. As such, an increasing number of researchers have focused their attention on these critical decisions.
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