Every global manager needs to develop the vision necessary to succeed in the integrated world economy. Understand your market, develop a clear focus, refine business processes, form a talented team, and aim to conserve your organization’s identity.
Monitor the global business environment to identify any opportunities and risks that could affect your organization. You should be particularly aware of industry trends, changes in your customer preferences, competitor moves in products and pricing, new technology, legal and regulatory changes, relevant government policy changes, new methods for marketing and distribution, and new supply sources. Gather information so that you can ensure that strategic and tactical policies are based on fact, not speculation.
Developing a Focus
Learning for Competitive Advantages
- Technical excellence: An ability to create, absorb, and apply knowledge across the organization.
- Operational excellence: An ability to develop world-class systems and processes.
- Relational excellence: An ability to work effectively with culturally diverse customers, colleagues, and partners.
Points to Remember
1. Similarities in global customer preferences present opportunities for greater economies of scale.
2. Global customers like to deal with suppliers who can fulfil their needs around the world.
3. Focus attention on capabilities that make your organization distinctive in the global market.
A business consists of value-creating activities, such as product development and marketing. Your organization must decide where to locate each of these activities in order to maximize value creation and minimize costs. Allocate responsibilities and transform your business structure into a global network by putting procedures in place to co-ordinate areas such as budgeting and reporting.
Managing for Results
A business must work continually to create its own future in the global market. It does this by scanning the marketplace constantly and creating new opportunities beyond the current vision of the consumer. Make sure that your team of employees is diverse enough to cope with the challenge of a’ global market: remember that diversity promotes innovation. Ensure that your organizational culture is an incubator for top-quality ideas.
Staying Committed to Core Values
This post was last modified on July 22, 2011 02:05