Final answer:
HR must manage challenges in innovation and collaboration by ensuring openness and security, addressing competing stakeholders, and balancing local and global operations. Building a collaborative team with aligned objectives and transparent communication is critical, as is understanding sociological and cultural factors.
Step-by-step explanation:
To capitalize on innovation and collaboration, HR must balance certain issues that can be quite challenging. The most pressing of these include the need for openness and ensuring security, navigating competing stakeholder interests, and managing the dynamics between the home country operations and the global marketplace. Globalization and new communications and information technology have significantly intensified competition, necessitating firms to innovate and expand into international markets.
Effective collaboration and innovation also require alignment of team members' ideas and promotion of sustainability. This includes communication, negotiation skills, and the ability to manage and prevent disputes. HR often needs to establish a transparent and equitable environment for all participants to ensure a collaborative and efficient team.
An additional challenge is balancing the localization of operations with the global strategy, which includes understanding local markets while maintaining a cohesive global presence. This often involves deliberating on sociological issues, adapting to cultural traditions and innovations, and being aware of opportunities for women in the workforce. Furthermore, companies must consider the impact of their operations on less developed nations and balance the deployment of technology with the support for human capital.