The report’s main aim is to offer an analysis of the cross-cultural challenges that Worldpay - a UK-headquartered global payment processing company - will face as a result of the merger with Vantiv, a company that operates in the same sector but is from a different country – United States. The report will also explore how the merger will lead to challenges for the new international teams within the organization. In the globalised world, it is important to be aware of the cultural differences as this can have an impact on the management of multicultural groups, international organisations and managing across culture due to globalisation.
Table of Contents
1. Introduction
Research Objectives and Themes
This report aims to analyze the cross-cultural challenges emerging from the merger between Worldpay and Vantiv, focusing on the impact on international teams within the organization. Furthermore, it examines the broader practical challenges currently facing the FinTech industry, specifically addressing market volatility and data management concerns.
- Cross-cultural management in international organizations
- Impact of globalization on national and local economies
- Merger-related challenges for international teams
- FinTech industry market volatility and cryptocurrency crashes
- Data management challenges, including regulation and security
Excerpt from the Book
Introduction
In the globalised world, it is important to be aware of the cultural differences as this can have an impact on the management of multicultural groups, international organisations and managing across culture due to globalisation (Thomas and Peterson, 2018, p. 155). Globalization refers to the multifaceted and complex phenomena or a form of capitalist expansion where there is an integration of the national and local economies into the global market economy. The pros of globalization include reduction of trade barriers between nations, promotion of economic growth, reduction of prices due to competition between nations, promotes the development of poor countries through injection of foreign technology and capital and an increase in the market for companies and organizations.
The cons of globalization include effects on workers due to poor pay in poor countries, loss of jobs in rich nations as companies transfer the jobs to such countries, exploitation of tax havens by MNCs, and labour exploitation, among others. The report’s main aim is to offer an analysis of the cross-cultural challenges that Worldpay – a UK-headquartered global payment processing company -will face as a result of the merger with Vantiv, a company that operates in the same sector but is from a different country – United States. The report will also explore how the merger will lead to challenges for the new international teams within the organization. The FinTech industry faces a number of practical challenges. First, the industry was faced with cryptocurrency crashes. In December of 2017, the crypto-currency were trading at $14,000 but in December of 2018, the currency were trading at lower than $3,500. This is a major challenge for the FinTech’s that invested in the Crypto (Noonan, 2018, para 2). Secondly, the industry is also faced with Data overloads for instance City Ventures faces data overload challenges ranging from regulation to security (Noonan, 2018, para 7).
Summary of Chapters
1. Introduction: This chapter provides an overview of the impacts of globalization on international business and outlines the specific cross-cultural and industrial challenges arising from the merger between Worldpay and Vantiv.
Keywords
Globalization, Cross-cultural Management, Worldpay, Vantiv, Merger, FinTech, International Teams, Cryptocurrency, Data Overload, Regulation, Security, Multicultural Groups, Capitalist Expansion, Market Economy, Corporate Strategy
Frequently Asked Questions
What is the primary focus of this report?
The report focuses on analyzing the cross-cultural challenges that will emerge for the company Worldpay following its merger with the US-based firm Vantiv.
What are the central themes discussed in the text?
The central themes include the management of multicultural teams, the effects of globalization on business operations, and the practical challenges currently affecting the FinTech sector.
What is the primary research objective?
The primary objective is to investigate how the merger between two global payment processing companies from different countries will impact internal international teams.
What scientific context is used to frame the discussion?
The discussion is framed within the context of globalization, utilizing theories on managing across cultures and capitalist economic integration.
What topics are covered in the introduction?
The introduction covers the pros and cons of globalization, the specific corporate merger between Worldpay and Vantiv, and common industry-wide challenges in FinTech.
Which keywords best describe this work?
Key terms include globalization, cross-cultural management, FinTech, mergers, and corporate strategy.
How does the merger impact internal team structures?
The merger is expected to create challenges for the new international teams by necessitating the alignment of different corporate and national cultures within the combined organization.
What specific industry challenges does the author mention regarding FinTech?
The author highlights the instability of cryptocurrencies and significant data management issues, such as security and regulatory compliance, as key hurdles for the industry.
- Citar trabajo
- Anonym (Autor), 2018, Managing across Cultures. International Organisation and Multicultural Groups, Múnich, GRIN Verlag, https://www.grin.com/document/498858
