3 Critical Challenges to Global Business & Global Leadership: Global business acumen, deliberate planning and exceptional execution.
I was recently interviewed by Becky DeStigter of The International Entrepreneur for my thoughts on the challenges of running successful global businesses and the global leadership issues that are critical to successful outcomes. If we think that domestic business issues of competition, growth, profitability and sustainability are daunting, those issues magnify exponentially when we move outside our geographic operating core.
In preparation for this interview, I reflected on the international growth experiences I have observed over the years – those that were successful and those that were not. Too often, even the successful experiences were often the result of luck rather than method and we could fool ourselves into thinking that international business was easy. In an international theater, we could often deny our mistakes under the guise of, “This local business just doesn’t have what it takes to be successful.” In some cases we simply closed businesses down and moved to other locations, or allowed marginal business results to limp along.
In today’s highly competitive global marketplace, we no longer have the luxury of making mistakes – the consequences are simply too high. We must approach global business issues with the highest level of business acumen, deliberate planning and exceptional execution. To be successful in global business – there is no other choice.
It is with this backdrop that I organized my thoughts for the following interview.