1. What are key elements of a global organization? How does building a global organization differ from building a domestic organization?
2. Identify three different, measurable metrics for tracking implementation of a global strategy. Why are these metrics important to monitor?
3. How are the risks in implementing a global strategy greater than those in implementing a domestic strategy? Which risks are the greatest? Explain your answer
Key elements of a global organization (adapted from Diversity Resources)
a. Global Mission Statement
A company's mission statement should address: a)commitment to doing business from a global perspective, i.e. the company as a whole(people, products, services)need to be effective and competitive in a variety of cultural environments; b) inclusiveness; c) recruitment and retention of diverse employees; d) development of diverse talent; e) training of management from different cultural/racial backgrounds; f) effective marketing in different cultural contexts; g) effective supplier diversity; and h) programs of social responsibility in countries in the developing world.
b. Country-by-Country Focus within the context of Global Strategy
Management styles, operational practices, and marketing approaches must reflect cultural, language and perspective differences inherent in different cultures. One of the ways of to view this is through the concept of "frameshifting". This means the ability to grasp and assess different perspectives and respond effectively to new and unfamiliar circumstances, including, qualities such as inquisitiveness, tolerance for ambiguity, and flexibility in a world where the most attractive opportunities for future growth are likely to be outside of a company's home market.
c. Global Approach to Corporate Leadership, management, Team-Building, and Professional Development
Top management itself must visibly commit to a global strategy ...
This solution identifies the key elements of a global organization and how does building a global organization differ from building a domestic organization. It also identifies three different, measurable metrics for tracking implementation of a global strategy.