MANAGEMENT OF CROSS-CULTURAL TEAMS AS A WAY OF INCREASING THE COMPETITIVENESS OF THE ORGANIZATION

Abstract

The article has been grounded that in modern companies the talent management system is one of the most important assets that combines databases, documents, policies, procedures, previously unexplored knowledge and experience of individual employees. The author prove that this approach ensures sustainable socio-economic development and forms the competitiveness of the organization. The article emphasizes the need for a change in management technologies to address the challenges posed by increased intercultural interactions, emphasizing the importance of managing multicultural teams for organizational success. Despite the challenges, effective cross-cultural management is presented as offering advantages for both organizations and employees.  The article suggests that companies embracing diversity and inclusion efforts can increase employee retention rates, enhance job satisfaction, and improve performance. Cross-cultural interaction is identified as a source of competitive advantages, fostering creativity, innovation, global market adaptation, improved talent access, customer understanding, flexibility, cultural competence, employee satisfaction, motivation, and expanded business networks.