p.p1 Fourthly, working in the CME firm is

Topics: Business

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Last updated: September 12, 2019

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s1 {font-kerning: none}Although Gerlter (2003) stated that “neither one (LME & CME) is better or worse, they’re different”, I would rather live, work and retire in a CME firm that is in Germany than an LME firm in the US. This is due to the fact that working in Germany, the CMEs’ system will provide a better coordination of industrial relations compared US companies. Industrial issues such as strikes would rarely happen as Germany is through state-supervised negotiations between industry collations and labour unions which set up pay grades for employees that are constant between firms. Secondly, the employee relations will be better in the CME firm as the employment is stable. Employees don’t have to worry about losing their job easily and can rely on steady employment with longer tenure.

Employees from the CME firm will more likely to be able to build a long-term relationship with each other which can lead to a better working efficiency as the interaction between the employees will be better. Thirdly, the CME firm offers a moderate employment protection and vocational training schemes that provides high levels of industry-specific skills which are supported by the industrial relations systems that discourage poaching. Their high vocational education system will allow the employees to gain an above-standard level of specific skills. This can ensure employees to have a better understanding of what they are doing in the firm and the employee morale can be improved as they understand the firm are willing to spend resources on them through the high vocational educational system. Fourthly, working in the CME firm is more likely to have an effective inter-company relation. The cooperation throughout the CME firm will be better compared to the LME firm as they are focused on strong competition policy rather than sharing information. The CME firm resolves problems through strategic interaction by providing a platform that has an organised network to share information and data.

Employees of the CME firm can have better working conditions as the inter-company relationship are good and they are willing to cooperate with the different department of the firm. This can increase the overall working efficiency and quality. Fifty, the managers from the CMEs’ firm will likely to lead the employees better compared to the LMEs’ firm. This is due to the managers are appointed by the firm’s supervisory board rather than the shareholders of the company. They have relevant knowledge in the specific business sector and experience which might able to lead and guide the employees better.

This form of corporate governance from CMEs is superior in comparison with the typical LMEs’ corporate governance as the LMEs’ corporate governance is operated by the shareholders of the firm. Which might focus more on the dividends rather than the long-term growth of the firm.

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