IDENTIFICATION OF CULTURAL DIFFERENCES IN MANAGEMENT IN MULTINATIONAL COMPANIES BASED IN SLOVAKIA

Abstract

: In 2004, Slovakia became a full-fledged member of the European Union. Since then, Slovakia has been one of the attractive investment locations for multinational companies in the region of Central Europe for its skilled and educated labor force. Managers who want to succeed in running multinational companies in culturally diverse settings must have the intercultural competence, i.e. the capability of thinking and acting in interculturally appropriate ways. The lack of intercultural competence skills in managers may result not only in miscommunication but can also be detrimental to the financial and economic success of organizations. The purpose of the paper was to identify cultural differences in management in German, Korean and French multinational companies operating in Slovakia. In the paper, the methods of questionnaire, literature research, analysis, synthesis were utilized. 160 respondents participated in the research on establishing cultural differences in management based on Hofstede’s model of cultural dimensions.