As you probably have experienced, the world today is not the one most of us grew up in. Radical changes have occurred, the biggest drivers include global economic opportunities, trade liberalization and the communications revolution. This has strategic advantages and challenges.
Globalization of business is nothing new. In fact, it started much, much earlier, with the early trading empires. The Silk Road between China and Europe, Phoenicians, Egyptians, Romans and Greeks among others.
In today’s economy, businesses want to sell more, stay competitive, increase their revenue thus they are looking to diversify their presence and their products across the world. Their biggest challenge is preparing leaders to thrive on the global stage. Unfortunately, there is not a way to minimize this, if companies want to successfully globalize, they must develop leaders with a Global Mindset.
Global executives need the same knowledge and capabilities as domestic executives, as well as unique attributes and skills to work in often radically different cultures, political systems, and environments. They need to develop a Global Mindset.
The most common assumption I have seen is that global leadership is developed only through experience. I truly believe that experience is not sufficient for the development of an effective global leader.
If experience alone is insufficient to develop an effective global leader, what do executives need to learn to be effective?
They need to develop and embrace a Global Mindset, in fact I see it as a requirement for success in the globalization of business going forward. Only by being truly open to new ideas and new ways of relating to each other, leaders will be able to capture the opportunities available on the new, fast-changing global stage.
Interested in learning more about Global Mindset or the globalization of business, please visit this page.