The evolution of the market trends, together with the development of technology and the globalization tendency has left an important mark upon how businesses must be conducted in order to become, and more importantly, to remain successful. Under the circumstances in which companies use a maximum specialization of their resources, it is crucial for any type of organization to embrace a corporate philosophy based on long-term strategic planning and pro-active management techniques.
             Another fundamental factor that contributes to the successful functioning of a company is represented by its approach to the Human Resources policy. Taking into consideration the fact that most of the successful companies have access to similar technological resources, the factors that can eventually make a difference in an organization's evolution refer to the financial resources, the human resources and the approaches regarding them.
             The situation which the MNC company is confronted with is represented by a joint venture with a local company in the People's Republic of China. The company is actually a multinational corporation, with an Australian basis. Its expansion on a new market involves various challenges. These challenges include the task of remaining efficient at global level, the capacity of responding efficiently to the local demands, as well as the need for flexibility and adaptability. A further challenge may be represented by the means and techniques through which information and knowledge can be transferred successfully across all the units of the company, units which are to be found in dispersed geographical locations.
             One of the key elements that could help the company respond to these challenges in the most effective manner is represented by its human resources. The proper approach to the Human Resources management ought to include a perspective according to which the company's employees are considered a strategic resource. Takin...