Essay Example on Developing a Global Mindset: Unlocking Your Company's True Potential

Operating in the global market has been the target of many companies today. However, even some companies that have been competitive in the local market end up being challenged in their global operation. This is due to the lack of development of a global market mindset. A global mindset is a mental attitude that determines how you will respond to situations and interact with people of different countries and cultures. As such, a global mindset helps organizations to improve their performance and competitive advantage in the international market. This research analysis two big companies Exon Mobile and Samsung, on how they develop cross-culture communication.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

Developing a global mindset means thinking globally, which means being able to build understanding, relationships, and communications among world partners, customers, and colleagues. Multinational companies can adopt two types of mindset. One of the mindsets is referred to as a pure global mindset. In this scenario, companies try to develop strategies to expand global performance through integration and sharing (Perruci, 2018). The other type of global mindset is where a company believes in maximizing competitive economic advantage to optimize its performance in the international context.

International business and management should matter to us because it is the only way to expand business operations. Due to increasing competition in the local market, the company opts to expand its sales by expanding into the international market. Some businesses also grow their enterprise by employing people from different countries where there is a shortage in the workforce. However, international trade can only be productive if well managed (Perruci, 2018). Aspect such as Cross-Cultural Communication hence becomes an integral part of leading businesses in the global context.

Keen awareness of cross-cultural communication and knowledge is essential to business success since it improves a competitive business advantage. An example of how a company can utilize cross-culture awareness to enhance business awareness can be found in the case of Samsung. It is unique due to its focus on risk-taking initiative and human resources. According to Matthews and Thakkar (2017), Samsung has been able to be recognized as a global industry due to the ability to take advantage of various initiatives based on a different culture. For instant, to enhance cross-culture communication, Samsung hires the non-Korean to carry out its operations outside Korea. For example, it will employ locals in a particular market to advertise its product. By doing so, the company can make consumers in a specific international market identify themselves with the product. Besides, it also set an organizational culture that is very family-centric, which allows effective communication to all levels. However, even when information is communicated, it might not be supported by all the employees. As such, Samsung has developed precise strategies to make communication effective in depending on the nature of a culture that makes employees feels that they are valued.

On the other hand, Exon Mobile tries to utilize its global operations by using its competitive economic advantage. Among the local competitive advantage that the company tries to use in the worldwide market include a commitment to work that is translated into speed advantage. The other thing is highly skilled technicians and engineers. It also has the experience and management talent, which it uses to expand its global operation (Perruci, 2018). As such, as opposed to Samsung, Exon Mobile puts less emphasis on cross-cultural communication to gain a competitive advantage in the global market.

Keen cross-culture awareness can make many organizations more competitive than others. This is because it can help a company to identify and meet the changing needs of consumers in a specific market. It also creates connectivity among the employees from cross-culture toward the accomplishment of the company's mission. It allows a company to develop practical activities coordination, the fast rollout of new products, sharing best practices, and trading off local and global requirements.

References

Matthews, L. C., & Thakkar, B. (2017). The impact of globalization on cross-cultural communication. Globalization-education and management agendas, 325-340. DOI: 10.5772/45816

Perruci, G. (2018). Millennials and globalization: The intercultural challenge of intragenerational leadership. Journal of Leadership Studies, 5(3), 82-87.