Globalization can be considered as a business move for a corporation if they want to significantly expand their business. In gist, globalization for a business means they expand their client base and support not just on their own country but also on other countries as well.
Through globalization, companies will be able to significantly increase their earnings which mean more improvement for the company. For its employees, globalization means more opportunities. The more experienced ones increase their chances of promotion as more and more employees will be hired. Not only will they have a chance of being a leader but the thought of working in other countries and experiencing a totally different culture with great pay is very appealing.
On the other hand, globalization presents dire danger for the company if they are not careful in implementing changes. As they open up to the world, they open themselves to a global competition that only seeks the best and the most affordable. Juggling affordability and quality could sometimes be too much for the company that they might end up closing down because of globalization.
Globalization offers big changes for the company. As a leader, it is part of your responsibility to ensure that the change in opening up to the world will not one be good but also a profitable venture.
Challenges of Globalization
When a company plans for globalization, there are challenges that you have to face as a leader. Although you are just a supervisor or manager; a company that opts to expand aggressively to other countries will open a lot of things for you especially in career expansion.
One aspect you will realize is that globalization actually slows down company processes. Too many people are involved in a single decision that collating their ideas about the proposal will take time. Some say that a company might end up in “analysis paralysis” because they take too much time talking about the idea that they cannot make the right decision. If you are one of the managers, you will have a hard time getting things done especially when the project requires something outside the company mandated policy.
Competition not only for business but also for a certain position should also be expected. As the company opens up to new employees, there is a possibility that someone more experienced and educated will come along. Instead of improving, you end up staying in the same position while everyone else advances.
Become an Efficient Leader
Globalization could easily mean profits for its share holders but a very challenging task for managers and its leaders. Aside from global competition, they would also have to deal with the fact that the leadership and managerial skills that are practiced today might not be feasible in a global scale.
But even with this reality, there are certain qualities of a leader that stays the same. Among them is individualized leadership and adjustment to culture while staying to core values.
• Individual Leadership – Leading a company when you are opening to globalization means more employees will be hired. As more and more people become part of the organization, more customization on leadership is required. Instead of being a leader on a desk, you should be going out and talking to your new employees. It could take sometime before you talk to every individual in your team but you will be able to know their individual needs as employees. You should be able to formulate a good idea on the strengths and weakness of each employee. Through individual leadership, you should be able to harness their strengths so you can build a formidable team.
• Adjusting Culture with Core Values – Even though the company becomes global, its values will always remain the same. But as the company becomes global, certain changes have to be made. The company has to adjust culturally in the country they are placed. That means they have to work in accordance to local culture but they are still geared towards the company goals. Through this type of leadership, you should be able to encourage work without inconveniences.
Globalization has its pros and cons but it doesn’t have to be bad news the entire time. As a leader believing in individual productivity, you should be able to harness their strengths for a better organization.