Abstract
The following article deals with the basic principles of intercultural management and possible improvements in terms of cultural, ethnic and gender diversification. The results are exemplarily applied to a bank located in Germany. The aim of this paper is to find out to what extent intercultural management could improve the productivity of Relatos-Bank in dealing with foreign employees or employees with a different cultural background. To achieve this goal, the authors con-duct a literature research. The main sources of information are books, journal articles and internet sources. It becomes clear that especially the different perceptions of different generations have a potential for conflict, which can be counteracted by applying presented scientific models. Equalizing the salaries of female and male employees and equalizing the rights and distribution of power could also be the key to becoming an open-minded, dynamic and fair organization that is pre-pared for the rapidly changing environment in which it operates.
Highlights
The emergence of new technologies, a new self-image in dealing with foreign cultures, the need to adapt processes and key figures to international standards and global supply chains is gaining more and more importance for global and multinational operating enterprises
In the context of cross-cultural management and using the case study of the imaginary Relatos Bank, this paper has highlighted the extent to which cultural differences can lead to tension within the workforce
This can result in reduced productivity and low morale
Summary
The emergence of new technologies, a new self-image in dealing with foreign cultures, the need to adapt processes and key figures to international standards and global supply chains is gaining more and more importance for global and multinational operating enterprises. In order to visualize potential problems of this adaptation process, the fictional Relato Bank, which operates on the European as well as on the US American market, is used for this paper. A Formal Review of Contemporary Challenges in Business Culture identify how existing weaknesses can be transformed into future strengths and new ways to create synergies. Since Germany has been a homogeneous society for decades and is only just beginning to experience the challenges, benefits and risks of an increasingly heterogeneous society in business life, the process of changing habits is potentially more drastic and strenuous than in the USA, for example, which was long a melting pot of cultures (Fraenkel, 2011). This paper provides a professional and scientific approach to management and adaptation to this change
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