International Human Resource Management
International Human resource management can be defined as ‘Identifying and understanding how multinational organisations manage their geographically dispersed workforces in order to leverage their H.R resources for both local and global competitive advantage.’(Beardwell et al 2004).The objective of my essay is to explore the BRIC emerging economies, and come to a conclusion, on the implications for an Irish based HR Management system, working with these emerging markets. Emerging markets are developing countries this in itself creates its own issues in areas such as cost control, cultural issues and language issues. Firstly it needs to be discussed, why these countries are so important, and the implications these have on an Irish based Human Resource management system. The most commonly used definition in the management literature is ‘Emerging markets are defined as low income, rapid growth countries using economic liberalisation as their primary engine of growth. (Hoskisson et al 2000) cited in (Sauvant, 2008). It can be seen that there has been a shift to knowledge based growth in emerging economies. As can be seen in (Sauvant, 2008) that we don’t have dual economies but triple economies in China and India.(Sauvant, 2008).The BRIC are both the fastest growing and largest emerging markets economies.(Sauvant, 2008) They account for almost three billion people, or just under half of the total population of the world. (Sauvant, 2008). The BRIC have also contributed to the majority of world GDP growth recently. (Torrington et al 2011). There are many implications which will be discussed throughout the course of this essay such as competition between these emerging markets, emerging market strategy, flexibility between these markets and the cost control element between these markets. There are many implications for an Irish based HRM working with these emerging markets in areas such as managing a diverse team, regulation and ethical awareness. There are many challenges
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