Much of leadership depends upon an organization’s ability to develop themselves in the existing knowledge economy on matters of policy, structuring and expertise. The global organizations that understand that true growth and leadership comes from within a company and its talent capital, and to assist in the growth of a high potential workforce, it is important to nurture culture and ideas that have been with the company for a long time, and has brought them this far. According to Harvard Business Review, the international trade of goods, services, finances, and people contributed to 10% of the world total GDP in 2014- equal to $7.8 trillion. And, with the nature of business in the last few years, one of the primary products being sold across the world globally is information and data. This type of exchange is often reliant on the integrity and nature of the material being sold as well, as it is valuable only with proper analysis, alongside application to make use of its value, and thus reliant on the purpose that data itself serves the buyer. Thus, there is now an atmosphere for thought leadership to ascend and set itself apart from the rest as a core aspect of success. Internal environmental needs such as cultural competence and global perspective shall now behave more like essential skills in the upper management of organizations.
As such, leadership programs that cater to developing global capabilities are now one of the top priorities for businesses across the globe. There are strategy and management institutes across the globe that provide expertise to multi-national corporations. We see this in the reports published by the American Management Association, about 48% of organizations consider this development crucial to success. More worryingly, only 18% of these multi-national organizations believe they are equipped with staff that can cater to the leadership pipeline needs of the future. Informed decisions are an absolute must, when dealing with professionals who plan on having a global approach to business, and so here is a three step process to help your company head toward the right direction when it comes to global strategy and leadership–
- Identification– A core aspect of building global competency is comprehensive assessment of the current state and potential areas of improvement to make sure that the skills acquired from the learning process is fully applied to the business that the organization engages in. While there are certainly concepts that are applicable everywhere such as curiosity and dedication, it is important to keep more technical and directly applicable skills relevant to the type of work the professional is taking part in, and to what degree. An organization must analyze strengths and weaknesses, key skills needed for the future, personality traits, their overall experience, and what pitfalls they must look out for.
- Designing Training and Learning– Once an organization has successfully identified both skills and potential leaders within the workforce, it can begin the meticulous task of designing learning and training programs that can meet their needs within a given period of time. In these situations, the services of a management strategy institute play a part in making a better tomorrow for businesses. Some challenges include co-ordinating between timezones, failure to adapt locally for cultural reasons, initiatives that are too impractical, lack of diversity, etc.
- Experience– The most important thing for a global leader is to be directly involved in an international environment that allows them to experience the dynamics of the workplace first hand. While this is often a risk for both the professional and the company, there are skills that greatly assist employees with their efforts, which may be implemented as part of their curriculum alongside core training modules. Virtual communication and use of connected global networks to navigate human capital is core to its success. Language/Culture training is also a huge part of this.