Your business - steaming full speed amidst a global iceberg field
Global business strategist Mona Pearl likens the conduct of many US businesses to the ignorant performance of the doomed Titanic's crew in her recent article in the International Business Times.
"While every business prepares elaborately for perceptible issues, few businesses take the initiative to develop an awareness and sensitivity to all that lies below, hidden from view, and waiting to cause chaos...With a less than 50% success rate of middle market US companies going global, boards need to know how to successfully plan and assess opportunities for the company to thrive in a complex and constant changing global economy. If you don’t have the right experience on board to cover all bases, how can you take the responsibility to make a decision that will shape the company’s future?"
Fundamental disconnect between strategic imperatives...and expertise
The absence of real global expertise (not a couple of business class flights and a cruise stop in Aruba, but real on-the-ground, bloodied nose, expensive lessons learned experience) on board and in executive management roles manifests both the relative recent nature of this evolution of business and the low priority which global development is often assigned.
I know...companies all consider globalization important. They must, because they all say it, repeat it, drone on about it and announce it. Oh really? If that's the case then why isn't that priority reflected on the boards? Why is international experience critical only to a VP level executive who oversees that domain (which by that organization responsibility is clearly identified as an element of strategy rather than a core truth)?
Time to get serious
Pearl concludes "If companies are to flourish, their perspective needs to be global—not only in driving toward higher profits but in their operating principles."
Companies need to develop that perspective - by drawing on outside advisors to help develop it, and by aggressively undertaking initiatives which will support business strategy and simultaneously inculcate a global perspective in all employees. Working with Consilium Global Business Advisors is a great step in that direction for SMEs who are awakening to this dimension of the new global business reality. Contact us.