MNC Now and Then Essay Example | Topics and Well Written Essays - 500 words

MNC Now and Then - Essay Example Contemporary MNCs are able to do tackle the challenges with the use of sophisticated technologies, advanced management models, and effective leadership, which will be continued to be put in use even after decades. Many management models and concepts consider human resources as the core elements of success. The resource-based view of the firm also emphasizes human resources as one of the most critical resources of any firm, which would include all employees (Armstrong, 2010). With the advent of virtual team working concept, many practices have been identified and are being implemented to effectively manage virtual teams in many multinational companies across the world (Caligiuri, Lepak & Bonache, 2010). Of these, one of the best practices that is being followed currently and can be continued even in future is the practice of enabling individual members of the virtual team to benefit from the team (Caligiuri et al, 2010; p.119). This practice is based on the principle that employees need to be motivated continuously in order to derive greater performance and productivity from time to time. Employee motivation concept has existed ever since the concept of management began, or, maybe, even before that. The need for motivation is a natural psychological and sociological phenomenon that will continue to exist in future too. Hence, it is important that employers put in all possible efforts to keep their employees motivated in all circumstances. This becomes even more important in virtual teams because of challenges such as lack of personal contact, differences in understanding owing to cultural differences, potential technological glitches, etc. In contemporary MNCs, practices that make virtual team members feel belonged to the organization are adopted in the form of rewards and recognition, team meetings through video conferencing, onshore and offshore learning and working opportunities etc. All these practices