This is “Points to Remember”, section 10.6 from the book Global Strategy (v. 1.0).
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10.6 Points to Remember
Developing a global mind-set requires companies to accomplish the following:
- Integrate the global aspects of strategy into their overall corporate strategy and change thinking patterns from a single domestic focus to a broad global focus.
- Manage uncertainty while constantly adapting to change and accepting it as part of a process.
- Get the right people in place with the skills necessary to focus on international expansion.
- Combine the various cultures and values of the corporate work force into a unique global organizational culture.
- Invest in people so they can help the company to succeed globally.
- Embrace diversity and differences.
- Learn how to cooperate with partners worldwide by successfully managing global supply chains, teams, and alliances,
On the subject of creating a global organization, the following factors are important:
- Globalization is driving a wholesale reinvention of organizational structure and management. The need for global scale and process efficiency is challenging corporate leaders to replace old paradigms of centralized control and decentralized autonomy with new models.
- Achieving the potential of global operations requires a mix of “soft” and “hard” approaches. Optimizing global processes requires cultural change management, proactive team- and relationship-building, and also more traditional budgetary and accountability mechanisms and metrics.
- Long-term vision, planning, and goal alignment can greatly increase chances of success. Corporations should start with a clear vision of their global objectives and values, and consciously develop shared language and identity, with participation from all global regions, not just headquarters.
- Identifying and replicating successes quickly and continuously is crucial to global competitiveness. Today’s complex global markets require multifaceted, not monolithic, approaches and capabilities. Global collaboration with face-to-face feedback loops, and a focus on identifying local successes and building them into the global process portfolio, can maximize the value of a corporation’s global assets.