Foreign companies can be at a disadvantage when competing against domestic companies strengthened by informal networks developed over years and even lifetimes. In Korea, for example, two types of informal networks play a major role in the success of Korean companies. The first of these networks is the more personal Yongo, which is built on […]
Read More… from How to Turn Foreignness into a Competitive Advantage
Past studies have demonstrated the power of humor in strengthening relationships between leaders and followers. In the early stages of these relationships, the power position of leaders requires them be the ones to reach out to followers. Humor is an effective strategy for making these early connections. Humor positively impacts early-stage relationships in three ways. […]
Read More… from Leadership Humour Not Always Appreciated in Different Cultures
Furniture retailer IKEA successfully expanded from its home base in rural Sweden to 52 countries across the globe. In contrast, Wal-Mart, the capital-rich retail leader in the largest economy in the world, has stumbled repeatedly in its efforts to expand its reach. Its latest failures include Germany and Brazil. And it is not alone among […]
Read More… from How Complexity Trips Up Companies In Foreign Market
For companies looking to expand internationally, business networks can play a key role in identifying and implementing foreign market opportunities. Finding the right distribution or manufacturing partner or identifying an opportunity to acquire a chain of retail stores, for example, can influence the decision on which markets to enter. Business networks, however, are not the […]
Read More… from Investing Abroad? Use Your Country’s Diplomats
The annual leadership survey conducted by the University of North Carolina’s Kenan-Flagler Business School was focused in 2015 on the development of globally competent leaders. Global competence is required for success as a leader in today’s ‘flat’ world, yet many leaders are weak in this area — and companies may not be training them with […]
Read More… from What Does It Take to Develop Globally Competent Leaders?
There is no doubt that social media has improved both internal and external corporate communication, especially for multinational companies. Social media has, for example, enabled corporations to increase opportunities for two-way communication with their customers at a low cost. However, customers using social media communicate in their own language, which means that a social media […]
Read More… from The Language Challenge for Social Media in Multinationals
What is the basis for a company’s competitive advantage? Traditionally, this question elicits one of two answers: 1) Industry structure. Finding the product-market space within a particular industry that is optimal for your company: in this space you can establish a monopolistic or at the least an oligopolistic position through various barriers to entry. 2) […]
Read More… from Why Companies from Emerging Markets Are Putting the Heat on Multinationals
There are three key contexts driving the need for ‘inclusive leadership’: 1. Globalization Increasing globalization demands a new global mind-set from leaders, team members and organizations. The ability to engage with people from different cultural, social and educational backgrounds, is an essential skill for any leader. For multinational corporations developing business in emerging economies, the […]
Read More… from Inclusive Leadership: Aligning the Different
Virtual teams, made necessary by globalization and possible by technology, are now common in business. They’ve taken over traditional functions such as procurement, manufacturing, IT and finance, as well as newer activities such as global supply chain and global service delivery. They’re often assembled for new-product development and R&D. And they’re increasingly found at the […]
Classical and neo-classical economic theory is predicated largely on an ‘impersonal’ model, in which transactions between parties are governed not by social obligations and kinship ties but by rational and objective calculation of individual gains. This model is particularly associated with industrialized societies and the mature market economies of the West. One might, therefore, reasonably […]
Read More… from Modernizing without Westernizing: Social Ties and Indian Business
