Cultivate a Global Mindset For a Better Bottom Line
The face of business has changed. You may have employees working globally, doing business with people from other regions or countries, or you might be relocating executives across cultures. The fact is, the global industry is the new norm. And your team needs to cultivate a “global mindset.” In today’s global marketplace it is critical for people to efficiently work together across borders and time zones to achieve business success.
Even more, we have a moral and ethical business obligation to be savvy about how the world works. By this I mean we need to be aware of the nuances of political systems, cultural norms, and the psychological mindsets of those whom we do business with and for. Without this savviness, we can’t truly understand the world and what it needs to run successfully.
Still, studies show many leadership programs fail at preparing future leaders with the skills needed to excel in today’s global business world.
What are these programs lacking?
The tools necessary for employees and organizations to cultivate a global mindset. A global mindset describes one that has a genuine desire, knowledge, and the skills to operate effectively in business today. One needs to know how to negotiate with vendors, sell to customers, and lead productive teamwork across regions – often in multiple countries at the same time.
This is just as important as legal counsel, marketing, sales, or a business strategy. Cultivating a global mindset shouldn’t be optional, as it fills a strategic, tactical need of operating in today’s global business. It is just as important as other business operations.
The number one agenda item
The number one agenda item for today’s corporate leaders looking to sustain business success should be finding talent with a global mindset. The team that cultivates a global mindset will be able to:
• Assess new markets
• Understand customer behavior
• Negotiate with vendors
• Secure contracts and commitment
• Navigate cultural nuances
• Build long-term business relationships
• Run complex projects
• Manage high-performing teams
Start cultivating a global mindset with these four tips
1. Get off your computer and get on a plane. As much as we might like to believe that the internet makes experiences like “study abroad” unnecessary, this kind of enriching experience is invaluable for understanding how cultural differences shape business and purchasing decisions. Opening your own mind to the differences among cultures will help you comprehend the kinds of perspectives you might encounter in global expansion, international sales negotiations, or hiring discussions for a new regional vice president.
2. Cultivate a global mindset at every level of the business. While making it a priority starts with upper management, executive staff aren’t the only people involved in implementing a global mindset across a company. Personnel in human resources, public relations, and corporate communications support those executive leaders. Making global mindset a priority for the entire staff, not just those who often travel internationally, will ensure both every day and long-term business actions are sensitive to the needs of other cultures.
3. Play memory. If you’re working in a new region of the world, do some research online and memorize five facts about the country or culture. When interacting with colleagues or business partners, use those facts as ice-breakers. In new sales or vendor meetings, you’ll be credible. And by making an effort to learn about their culture, you’ll gain respect by showing genuine interest in your new associates.
4. Share your experiences. When you travel, read global news and books, or watch international films, and share your experiences. By sharing your experience with friends, families, and co-workers, you plant the seeds of a global mindset within them. Create excitement about learning about the world.
Ready to go global?
Are you—and your employees—ready to go global? You can find out by taking the Global Mindset Inventory (GMI) assessment. The GMI measures Intellectual, Psychological, and Social Capital to reveal both strengths and areas to develop. GMI also coaches individual assessment-takers to interpret their results and create a plan of action. Learn more about the GMI assessment here.
Cultivating global mindset isn’t only a business benefit; the growth and enrichment that comes with cross-cultural experiences can be as personally rewarding as it is professionally. But if your team needs help with global business skills, contact me. I can help.
A version of this post was first published on Lead Change Group
Image: Antonio Quagliata from Pexels