Standards & Operations Manual
They preserve the entire organization’s knowledge using a Standards & Operations Manual
Planning
They use planning in the form of Annual Plan, Marketing Plans, Sales forecast & Budgeting. They also use Project Managers to ensure that projects are delivered on time
Time Management
Time management in the form of scheduling all activities to ensure all tasks are done on time
Hiring Employees
Multinationals hire employees only based on ability to deliver. They have a diversified board of directors with different skills and consult professionals to make decisions
360 Degree Assessment
Make decisions after you ascertain all the facts – MNC use 360 degree assessment & balance score cards plus risk identification tools and SWOT analysis prior to making decisions.
Skillful Negotiations
Skillful Negotiations are heavily factored in when hiring CEOs.
Trustworthy Business Partners
Finding Trustworthy Business partners is difficult – They overcome this issue by establishing a comprehensive contract with the Business Partner, Supplier, Banker & all providers of services
Responsibility
Leaders must take responsibility – The US president has a message at the Oval Office – The buck stops here, indicating that eventually the responsibility must be shouldered at the highest level.
Minimum Finance Cost
They keep finance cost to the minimum by managing their working capital using the suppliers credit, sometimes over 90 days, just in time inventory both raw materials & finish goods and giving just 15 days or below credit limit to debtors with a bank guarantee.