How do religion, culture and ethnicity affect the success or failure Essay

How do religion, culture and ethnicity affect the success or failure of a global enterprise and what factors could impact upon the decision making of the global entrepreneur - Essay Example These factors can lead to either the success or failure of the business. Consequently, a proper analysis of these factors and their impact on the day-to-day operations of the business is very fundamental in making the right decision as to invest or not to invest in a given venture overseas. A global business battles with a number of issues that end up affecting their efficiency in operations, as well as, the team spirit and motivation of its workers. As such, before setting up a business in a foreign market, a manager has to consider some of the aspects of business operations that may affect the efficiency of the business operations, the relationships within the organizational structure, and the team or group working. Proper management of the aspects that affect or influence these conditions would lead to the effective performance of the business, hence assured profitability and wealth maximization. The biggest headache of business managers setting up subsidiaries of their multinational corporations on foreign lands is how to deal best with issues relating to diversity and equality within their host country (Otter & Wetherly 2014:318). A foreign investment company meets various cases of diversity and equality in every new country that they set up shop, which also makes it imperative for the business manager to have proper knowledge of such requirements. The aspect of diversity in Human Resource Management (HRM) recognizes that people have a number of things that are common to each other. However, this does not mean that they are the same. Each person is different in his or her own unique way, and as such, these differences should not be the basis for their discrimination. Every member of the organization has the right to equal access to employment opportunities. This further goes to stipulate that when such an individual lands a job