October 23, 2009

Managing a Global Business

The success of Global Business relies mainly on how well you are going to manage your business. Because of the new economy, it is a requirement for managers to function effectively in the international arena. A good manager should know that the business strategy used in the domestic business should not be applied to the international setting. Manage your business in a way that it will stand the test of the global challenges. Do not focus on one thing but also on different elements such as languages, the mindsets, expectations, what is right or wrong, underlying assumptions, etc.

Develop a global mindset in such a way that the business can survive with the global knowledge. Tap the new tools that the technology offers because this is how business in the global market is being revolutionized. Utilize the internet, the search engines and other 3G telecommunications. Manage your global business by going local first. Understand the national cultures, values and ways of doing business in every locality. If you have determined the local factors, then your business is now ready to be globalized.

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