Grow Globally E-Book

Mona Pearl

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 397

Veröffentlichungsjahr: 2011

Beschreibung

Discover proven strategies and solutions for successful participation in the global market With less than fifty percent of middle market US companies succeeding at going global, corporate executives need to know how to build effective global execution platforms that will allow their organizations to thrive in a global economy. Filled with case studies and indispensable checklists, Grow Globally guides executives in crafting an actionable global strategy that will not only stand the test of change--but that will also be on target, on budget, and on time. * Reveals how to anticipate change in global decision-making and execution * Explores how to identify trends and respond to differences between internal corporate culture and the target culture * Includes case studies, checklists, process visuals and resources, plus a website that hosts online tools and materials As the world becomes more dependent on technology and trade borders gradually disappear, your company needs to acquire the tools and skills necessary to compete in the global market. Grow Globally presents the skills needed to build a global execution platform that will keep your organization relevant and competitive in the international landscape.

Leseprobe

Contents

Foreword

Preface

Acknowledgements

Introduction: Growing Globally

Chapter 1: Embarking on Your Global Adventure

Today’s Economy Is Truly Global

Your Greatest Challenge May Be Mind-Set

Ten Steps in Planning Your Global Expansion

Determining the “Right” Opportunity

Where in the World Should You Go?

Balancing Risk and Reward

Knowing the Costs

Staying One Step Ahead

Pearls of Wisdom

Notes

Chapter 2: The Search for the Right Talent

Instilling a Global Mind-Set

What Is True Global Leadership?

The Value of Cross-Industry Experience

The Essential Core Competencies of a Global-Minded Team

Finding the Right Talent

Attracting and Retaining Future Talent

Reducing Culture Shock

Growing Your Talent from Home

Pearls of Wisdom

Notes

Chapter 3: Improving Your Market Readiness through Effective Planning, Action, and Commitment

What’s at Stake in the Decision to Go Global?

First Things First: Doing the Due Diligence

Only Actionable Research Leads to Action

Getting Ready for a Market: The Six Pillar Foundation

From Findings to Execution

Pearls of Wisdom

Notes

Chapter 4: Gaining Competitive Advantage

Three Key Strategies: Distinguishing Your Company through Competitive Advantage

Combining Strategies

Real-World Examples of Creating Competitive Advantage

Sustaining Competitive Advantage through Core Competencies

Pearls of Wisdom

Notes

Chapter 5: Sound International Negotiations

The Dance of International Negotiations

Growing Globally Is a High Stakes Venture

Tuning in to Difference: When “Yes” Doesn’t Mean “Yes”

Preparing for International Negotiations

Negotiation Styles around the Globe

Bridging the Divide

Pearls of Wisdom

Notes

Chapter 6: Corporate Partnerships

Partnerships for Global Expansion

Collaborate, Coordinate, Cooperate

Preparing the Foundation

Considering an International Joint Venture

Mergers and Acquisitions (M&A) on the Rise

Cross-Border Strategic Due Diligence

It’s Your Responsibility: Foreign Corrupt Practices Act (FCPA)2

Creating Sustainable Value: Post-Merger Practices

Pearls of Wisdom

Notes

Chapter 7: Corporate Business Models

Innovative Models for Tomorrow’s Success

Innovation: The Secret Ingredient

Innovation on a Global Scale

Business Clusters: Safety in Numbers

Vertical Integration Model8

Sourcing Abroad

Pearls of Wisdom

Notes

Chapter 8: Focusing on Success

Keeping Your Eye on the Ball

Developing Cross-Border Best Practices

The 4Ps Business Model

Considering the Strategic Elements

Synchronized Strategy: A Top 10 Approach

Selective Benchmarking

Value-Driven Focus

Pearls of Wisdom

Notes

Chapter 9: Looking into the Future

Power Shift

Transnational Change: Challenges and Opportunities

The Era of Reasoning and Collaboration

Trends in 3D: Look Up, Look Out, and Look Around

Europe’s Change of Direction

Focus on Latin America

Focus on Africa

Focus on the Middle East

Opportunities in China

Pearls of Wisdom

Notes

Chapter 10: Growth and Discovery

A Personal Journey: Learning to Negotiate across Borders toward Expansion

Avoiding Costly Mistakes

Looking at the Facts: Evidence-Based Decisions

Final Pearls of Wisdom

Now It’s Your Turn

Notes

About the Author

Index

Additional Praise for Grow Globally: Opportunities for Your Middle-Market Company around the World

“Mona Pearl has offered a road map for middle market companies seeking to take their businesses global. She provides concrete guidance typically available only at a cost most middle market business owners do not want to incur. I thoroughly recommend this as a “must read”.

—Frederic D. Floberg, Managing Director,

The Chicago Corporation

“Mona Pearl offers insights on global strategy of value to everyone . . . from the beginning international business student to the seasoned veteran. Topics range from due diligence and demand forecasting to cross-cultural negotiations and issues affecting future global business success. The end-of-chapter Pearls of Wisdom provides readers with an excellent summary of key learning points.”

—Les Dlabay, Professor of Business, Lake Forest College;

Author of International Business, 4th ed.

“For any executive whose organization has entered or aspires to be part of the global arena, Grow Globally is a must-read. It is an in-depth, comprehensive, A-to-Z discussion of all the elements to be considered when taking a business global. While experienced C-Suite and Corporate Development leaders understand the need for strategy and risk assessment, Grow Globally goes beyond the lip service of ‘buzz words.’ Mona Pearl with her vast ‘on the ground’ experience provides practical, detailed, and insightful approaches to creating successful global business outcomes. She is a highly regarded member of AM&AA, who exemplifies the spirit of collaboration that is so well-articulated in her new book.”

—Michael R. Nall, Founder, Alliance of M & A Advisors

Copyright © 2011 by Mona Pearl. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, [phone], fax [phone], or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, [phone], fax [phone], or online at http://www.wiley.com/go/permissions.

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Library of Congress Cataloging-in-Publication Data:

Pearl, Mona, 1964–

Grow globally : opportunities for your middle-market company around the world / Mona Pearl.

p. cm.

Includes bibliographical references and index.

ISBN 978-1-118-03015-8; ISBN 978-1-118-12894-7 (ebk); ISBN 978-1-118-12895-4 (ebk); ISBN 978-1-118-12896-1 (ebk)

1. Small business—Management. 2. International business enterprises—Management. 3. Globalization—Economic aspects. I. Title.

HD62.7.P43 2011

658’.049—dc22

2011016576

This book is dedicated to the fellow warriors and explorers, men and women, the brave and curious, the dreamers and the executioners who see the globe as their playground, and fearlessly venture to navigate the oceans of the business world.

Foreword

It’s easy for executives to look out from their desks and only see their own private little domain. Dealing with the day-to-day pressures they encounter can shrink their vision to a keyhole—intensely focused but largely ignorant of the bigger picture.

Having that keyhole focus today is counterproductive at best and catastrophic at worst. The realities of the global economy make it absolutely unforgivable for midmarket executives to keep their vision restricted to what goes on within the four walls of the office. Both opportunity and opposition can be found outside in the world beyond. The only difference is that, although you have to go outside to look for the former, the latter will track you down no matter what you do.

Opening up your eyes to see the bigger picture of the global marketplace is one of the most important steps leaders in the 21st century can do to help their businesses succeed. Unfortunately, it is also one of the easiest and most devastating actions they can fail to take. For those who spent their whole life looking at the world through a keyhole, throwing the door wide open can be overwhelming. There’s so much to take in that it is easy to miss opportunities that could be right in front of your nose.

Grow Globally is an effort to help middle-market executives open the door to the global marketplace and establish their presence without losing their way. Being in the position they’re in, these high-level corporate professionals don’t have the luxury of sitting back and taking it all in before making a move. They’re competing against much larger and savvier competitors who have the resources to gather information quickly and strike with precision. Middle-market companies need guidance to craft a global strategy that will work right the first time, and that’s exactly what Mona Pearl has given them with this book.

Stop peeking through the keyhole, open the door, and step outside.

Christopher Petersen Special Projects Editor, Management Today magazine

Preface

This book is written for Boards of Directors, C-suite, and corporate development leaders of organizations who aspire to be global leaders. However, Grow Globally is not intended to be a textbook but a book that triggers your thinking about proven effective approaches and strategies to use when entering new regions of the world or expanding your base in the international arena. For those who are already global players, this book will help refine your skills, adjust your mind-set, reaffirm your focus, and, in some cases, retest your strategy and modify your direction. For those embarking on their first global adventure, this book will help create a framework that enables you to see, identify, respond, think, plan, and operate. In the end, it is about building your skills, gaining access to essential tools, and learning how to think about ways to capitalize on global opportunities. Grow Globally will help you identify what questions you need to ask, how to evaluate information, assemble the right team, develop a leadership position, and stay focused on success.

This book was motivated by my personal experience as an international strategic development expert. Frustratingly, I have witnessed otherwise successful organizations from around the world making similar mistakes when seeking to expand internationally. Mistakes that obviously arise from a lack of familiarity with world markets and very limited “hands-on” experience. While I applaud their initiative, business leaders must understand that growing globally is not simply an extension of what works domestically. Rather, competing across borders is a much more complex, competitive, and dynamic environment with unique economic markets and realities. As such, companies must deal with a host of unfamiliar and challenging strategic issues such as different rules of engagement, emerging as well as declining regions, new business models, and complex negotiations. Grow Globally helps readers identify and examine key aspects of developing a successful strategic plan by breaking down the steps into manageable pieces such as market readiness, developing a global competitive advantage, strategic alliances and growth models, competition, negotiations, future trends, and emerging markets.

In addition to my practical and hands-on international experience, I speak six languages and have lived abroad. I have also acquired firsthand business know-how by building and operating several global companies. As such, I understand the practical aspects of running a global organization and have experience with product licensing, manufacturing, supply chain, distribution, culture, negotiations, and other key issues that arise when running an international company. In other words, I have been in your shoes, in the “global trenches,” and dealt with many of the same issues you have or will face as you cross the threshold into the global arena.

Ideally, Grow Globally will help take the mystery out of entering or expanding into new international markets. After reading the book, you will understand how to develop a strategy that will help you choose a foreign market to sell your product or service, and you will learn what factors are important, from income, urbanization, and language to culture and purchasing patterns. You will also learn how to:

Develop strong and lasting relationships across bordersOvercome cultural differencesOffer a customized value proposition in each market and win salesDevelop a competitive advantage and beat the competitionDesign and execute the best strategies and tactics to enter each country/marketTake advantage of the most effective international and sustainable growth modelsImplement the most suitable strategies for your company that will leverage and sustain global presenceManage risk and diversify your sales and marketing portfolio globally

In addition, please visit www.monapearl.com/books/grow-globally-by-mona-pearl for an array of valuable information to use alongside this book, including assessment tools, checklists, and examples to further your understanding of the theory and practice of growing your business globally.

Grow Globally provides you with the expertise to plan and implement cost effective and sustainable global growth plans that improve your company’s bottom line and help you realize seamless and flawless international operations, so you can focus on what you do best. So let’s get started now!

Introduction

Growing Globally

What You Need to Know to Get in the Game

“If you want something you’ve never had before, you’ve got to do something you’ve never done before.”

—Drina Reed

Going global is similar to embarking on a new adventure, a bold mission, and you are the commander. As such, it’s important to learn not just from the successes of others but also from the failures of others. For example, consider the Titanic’s tragic encounter with an iceberg on the Northern Atlantic waters in 1912. On a clear night, in a calm sea, under the command of a seasoned captain, disaster struck. Even after warnings of iceberg sightings, disaster struck! However, damage to the ship wasn’t caused by the iceberg’s tip, which rose visibly above the water’s surface. Rather, the fatal damage was caused by the massive section of iceberg, hidden from view, beneath the surface of the water.

This great tragedy serves as a vivid illustration of the dangers that lurk beneath the surface for businesses embarking on global expansion. While every business prepares elaborately for perceptible issues, few businesses take the initiative to develop an awareness and sensitivity to all that lies below, hidden from view, and waiting to cause chaos. It’s the same today as it was in 1912. People don’t know what they don’t know. Worse yet, no one can plan for something that has never been anticipated.

What’s under the surface in international business? A lot! The culture, social norms, values, customs, reasoning, thinking patterns, decision making, negotiations, and body language are just a few of the minefields businesses encounter as they attempt to navigate the global marketplace. While the legal system, tax issues, and the political situation all seem visible, in many regions they are not always as they appear. For example, in some countries the lack of transparency functions just like an added tax. And the implications of these unknown “taxes” are not easy to calculate. How can you deal with these issues? How can you evaluate a global market? Plan a product launch? What should you know? Where do you start? Right here.