Introduction
A thorough environmental scan and analysis provide insight into the global organizational setting before majoring in a professional career. Due to the diversity of cultures encountered in the workplace, cultural competence is essential when seeking positions in multinational corporations (Bird & Osland, 2017). In order to properly integrate and perform in global enterprises, individuals need to be aware of their level of intercultural competence. Therefore, this essay bases the discussion on an environmental scan and analysis conducted on the International Monetary Fund (IMF) in preparation for my planned internship, where I hope to acquire the requisite intercultural skills for a position in a multinational firm.
Global Organizational Context and Position
A company’s culture is one of many elements that make up its environment, but it is especially relevant in organizational culture. Given the inevitable high level of cultural variation in international organizations, intercultural communication naturally plays a crucial role. Since my major is economics as the chosen field of study, IMF organizational context and associated job title are ideal for my career. Leigh and Blakely (2016) attribute that the economic context consists of understanding global organization processes, resource allocation, and consumption trends. Individuals, corporations, and governments can all benefit by considering the economy as a whole when making decisions and allocating resources. Doing meaningful work in economics allows one to make significant contributions to the economy’s progress.
The International Monetary Fund (IMF) is a multinational organization that fosters monetary harmony and stability worldwide. The organization also aids in the fight against poverty by facilitating sustainable development projects. The IMF has 190 member countries, making it a global institution that requires substantial intercultural competency (Imf, 2022). To succeed in today’s global economy, one must be deeply familiar with how different cultures function and their values. In my efforts to contribute positively to the IMF, I will embrace success in my career as an economist to master the institution’s culture and the economist’s position.
Furthermore, I am researching the economist’s role to learn more about its responsibilities and how intercultural communication might assist in fulfilling them in a business setting. The IMF is responsible for developing macroeconomic policies, such as monetary policy, fiscal policy, and the exchange rate, that contribute to excellent economic stability (Osland, 2017). I am aware of the importance of the IMF to the global economy. Given my background in economics, I can perform the duties of this role with the proper preparation. Working in this field means interacting with customers from all over the world, each of whom has unique cultural norms and expectations (Balakrishnan et al., 2021). Knowing these functions and roles would help me acquire the skills necessary to be effective in the position.
Sources of Information Available for my Research
Appropriate resources are crucial for successful research. The quantity or quality of available resources should be a manageable factor in any research study. Resources abound for in-depth studies on improving one’s intercultural competency in a business setting (Bennett & Hammer, 2017). I plan to use scholarly journals, books, established online resources, and dependable online periodicals for my research. Only reliable information should be culled from these resources and used in the study. IMF is a multinational firm that various scholars and journals have extensively written about. Many studies have been done on the company already, and they will help me vastly with my investigation. Newspaper and scholarly writings on economics have focused on IMF’s roles and culture (Jiménez-Crespo & Singh, 2016). Most of them can be found online at no cost, so I can use them to supplement my study.
The group’s website will be my investigation’s most helpful resource. With an eye toward global audiences, the website is thoughtfully laid out to showcase the organization’s vital components (Mendenhall, 2017). Seeing things from within an organization is the most significant way to get a feel for the culture. The website provides the most precise picture of the international framework that forms the basis of IMF’s work. The website for the IMF can be seen in several different languages. Because of the languages, handling cultural differences within the workforce and the countries they serve is much simpler.
Books, magazines and newspaper articles supplement the information I find online. Considering the variety of information in various publications, I suspect that most of the data presented in these pieces are not readily available through the IMF website. They will supplement the data I glean from the website and give my study more heft. I plan to draw on resources that offer an overview of cultural relations in multinational corporations.
The IMF website is an example of how the institution fosters cultural awareness among its staff. Examples are the diversity and inclusion reports on the IMF website, which provide vital information regarding the organization’s intercultural climate. Ilie (2019) states that working for a global corporation might be challenging for those accustomed to a more homogeneous cultural environment. Learning to work with and around the cultural differences of others is an integral part of developing intercultural competence. Intercultural competence is crucial to success in today’s global workplace. Positivity toward other cultures, communication effectively in an intercultural setting, and general cultural awareness are all ways to measure intercultural competence.
Outline of the Sources
The sources may have emphasized the significance of intercultural competence, but they must discuss the obstacles to learning about other cultures. One’s culture is a significant factor in shaping one’s ability to communicate effectively across cultural boundaries. When there are substantial cultural differences, empathizing with others might take work. Extended cultural avoidance may be indicative of such cases. The literature needs to provide more guidance on how much people can increase their intercultural competence and flourish in a multiethnic setting. In order to find solutions to such problems, Bird and Stevens (2017) affirm that it can be helpful to conduct in-depth interviews with people from a wide range of cultural backgrounds to learn about their experiences acquiring cultural competency in challenging intercultural settings. Their feedback will be used to understand better how global organizations may foster intercultural competency.
The facts, perspectives, and degrees of bias presented in various sources can vary widely. Recognizing and accounting for these distortions is crucial when assessing a source’s credibility and trustworthiness. A constructive outlook on the research setting’s organizational context has been crucial to my growth as an intercultural practitioner. Due to the website’s desire to present a favorable image of the organization to its visitors, some readers may find the posted information biased. As a result, it was essential to consider other sources, such as newspapers and scholarly journals, to acquire a fuller picture of the organization’s setting.
Context of the Information Sources
Many third-party sources, including books, journals, and newspapers, have attempted to offer facts about the group without expressing any bias. In this way, people might gain an objective understanding of different cultures. Whether or not these articles can be used in the research depends on whether or not the context in which they are written is understood. A global organization’s information sources need to include materials that promote the growth of employees’ intercultural competence. The most valuable articles for this study are those written in a setting that emphasizes strategies for dealing with the difficulties inherent in working in a multicultural, multiethnic organization. A thorough comprehension of the author’s intentions and worldviews when penning these works is also crucial. This study might benefit more from books and articles that take a global viewpoint, as they help students acquire intercultural skills. Accordingly, the setting in which the material was significantly gathered affects its veracity and usefulness for the study.
Differences between IMF and my Current Culture
There are notable disparities between the global organizational setting and my current living situation, even though they share many qualities. Canadian culture forms the basis of my day-to-day life. Although they come from all over the world, most international students in Canada are trying to blend in with locals. It is natural for us to make an effort to blend in with Canadian culture, given that we all now reside and attend school in the country. For instance, I have come a long way in embracing and adopting the local way of life and gaining a deeper appreciation for the culture. Culture plays no critical role in the international setting of the IMF’s administration. With over 190 nations as members, the organization’s services are translated into seven languages. Administrative work occurs in a multiethnic environment with international development partners, and employees are not expected to adhere to a single cultural norm. This is different in Canada, where assimilation into the local culture is the norm.
Furthermore, the International Monetary Fund (IMF) makes concerted efforts to promote cultural diversity and inclusion worldwide. Employing personnel from various backgrounds and locations gives the company a global perspective. Some cultural minorities, for instance, are given special consideration for membership in international organizations. Therefore, working in this setting increases one’s chances of encountering people of other cultural backgrounds. In contrast, I have few opportunities to learn about cross-cultural encounters in my current professional and personal life. Fewer cultural groups are represented on campus than in the IMF setting. I only know a handful of people from other cultures due to social constraints and lifestyle differences. This means that my experience with cross-cultural interactions at IMF will be very different from what I am used to in my day job.
Global Relations within IMF
The International Monetary Fund (IMF) is a worldwide leader with remarkable resilience and perseverance. The capacity to lead effectively across cultures is essential for every global leader. The International Monetary Fund’s (IMF) top brass come from all corners of the globe (Imf, 2022). Therefore, effectively navigating cultural differences is essential for every global leader. The current head of the IMF has a history of working for other international organizations in similar capacities. Because of this, she has the best possible background for working with and communicating with people from various cultural backgrounds. Therefore, the MD is aware of the aspects of working with a diverse staff from various cultural backgrounds.
IMF also has a dedication to cultural diversity and openness. There are currently translations of the IMF website available in more than seven languages, reflecting the organization’s commitment to reaching out to and serving people of all backgrounds through means most comfortable to them. Understanding the language barrier is crucial for the success of global organizations. The IMF also compiles annual reports on the diversity of its staff in terms of ethnicity and gender. One can read all about the company’s dedication to hiring a diverse staff in its “diversity and inclusion statement,” which is available on the internet. The company can rapidly develop the multinational perspective indicative of global relationships and leadership by making these investments.
Intercultural Differences or Conflicts that one may Experience
The research indicates that working for the IMF may expose one to new cultural experiences and conflicts. To some extent, ethnocentrism will be one of my most significant obstacles. As someone who has spent much time immersed in my own culture, my first impressions of people from other backgrounds are typically colored by my own (Gallois et al., 2018). When I encounter a new culture, I often apply my cultural lens to it, which hinders my ability to communicate effectively across cultures. My ability to adapt to new cultures has improved over time, but it still requires effort to understand and appreciate the nuances that each brings fully. Therefore, if I secure employment in the IMF’s global framework, I expect severe difficulties in my intercultural communication due to my ethnocentrism. The best method to fight ethnocentrism, as Panicker and Sharma (2021) attribute, is to learn about and appreciate different cultures. It will be vital to broaden my worldview and stop making snap judgments about individuals based on how they appear to me.
I may also fall back on generalizations about people in a multicultural work environment. If I get hired by the IMF, I may be required to work with people from all walks of life. As Barmeyer and Mayer (2020) posit, some of these people come from a culture about which I have certain preconceived notions. My encounters with people of different cultures could be skewed if I cling to such generalizations. People from such cultures are more likely to clash with me in a global business setting. According to Mayer et al. (2019), preconceived notions about the characteristics of various groups of individuals are known as stereotypes. Stereotypes are false beliefs that can give rise to bias. I must constantly monitor my prejudices and respect the actions and perspectives of others if I am to communicate and connect with others in a global corporate framework. Respecting others as they are and perceiving their traits from their own cultural viewpoints will be essential.
Conclusion
In today’s increasingly interconnected world, acquiring the intercultural skills necessary for productive social engagement is more critical than ever. Due to the increasingly international nature of businesses, their staff must have an appreciation for and familiarity with diverse cultural perspectives. My studies center on an economist’s perspective inside an economic framework. My academic background in economics initially piqued my interest in this role. The organization’s website is the most valuable cultural diversity and inclusion source. Books, magazines and newspaper articles can be used in addition to the website because they offer a different perspective. To determine whether a particular information source is reliable, one must consider the context in which it was initially published. There are some parallels between the global organization and my living situation, but the differences are far more significant. However, in a global corporate setting where ethnocentrism and preconceptions are prevalent, I will try to learn about and respect various cultures and ways of life.
References
(N.d.). Imf.org. Retrieved November 15, 2022, from https://www.imf.org/en/Home
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