Keys to success in multi-cultural project work

Seminar paper from the year 2010 in the subject Business economics - Business Management, Corporate Governance, grade: 2,3, University of Applied Sciences Berlin, language: English, abstract: In modern economy, companies and industries face more complex challenges than ever be-fore. Globalized markets offer great opportunities for their players, but operating successfully in this complex environment requires different approaches than in a domestic environment. Making best use of the availability of resources like goods, employees and services from abroad on the one hand, but managing challenges like increasing competition, pressure on costs and innovation and the high dynamic on many foreign markets on the other hand are so-phisticated tasks an international company nowadays has to deal with. Global interaction requires a company to cooperate with partners in the different countries. Due to many reasons, cooperating successfully on such international level is very difficult. Explain-ing the requirements and challenges of cross-national projects, emphasising the importance of cultural differences and their consideration in inter-cultural project work and determining how such projects can be managed successfully is subject of this paper.