Balancing Values. An Indian perspective on corporate values from Scandinavia

Seminar paper from the year 2013 in the subject Business economics - Personnel and Organisation, grade: 2, , course: International Human Resource Management, language: English, abstract: Pharmaz is a multinational pharmaceutical company, which headquarter is located in§Denmark. Worldwide, Pharmaz employs around 6000 people in 30 countries.§Currently, the management concentrates on presenting Pharmaz as a value-driven and§innovative company. As a result, the following three corporate values should be focused§prospectively (Dowling, Festing & Engle 2013, p. 319):§1. Empowerment of all employees,§2. Equal opportunities for developing the employees' competencies,§3. Openness in communication associated with knowledge exchange.§§Furthermore, a focus for Pharmaz is the growth of the Indian subsidiary. It gains strategic§importance, more people shall be recruited and the management likes to take advantage of the§low cost, professional Indians.§Accordingly, Amrita Chopra, the senior financial manager of Pharmaz India, and Niels§Nielsen, the finance director of Pharmaz India (Dowling, Festing & Engle 2013, p. 322),§discuss the alignment of local work procedures. (Dowling, Festing & Engle 2013, p. 319)§§In sum, Pharmaz reflects a company's cultural differences between Denmark and India, while§the Danish executives try to apply its new values. Also, the company represents the huge§managers' efforts that are required for the change. [...]