We work with clients at what we like to call the ‘pointy end’ of change – businesses which are ‘Going Global’.
This isn’t easy, it may involve mergers and acquisitions, working with very powerful Asian investors and clients, and running operations in developing country environments with high levels of ambiguity and risk.
The top 5 issues we see when ‘Going Global’ are:
1. Developing global strategy based on the assumption that the world is the same as the originating country of the business. What may have worked in one country, and at one point in time, doesn’t necessarily work in different cultural, political and economic contexts.
2. Not understanding the complexity of different stakeholder contexts. Policy settings and foreign governments are far more involved in license to operate and business decisions in many contexts.
3. Not anticipating or managing real risks. Building risk management strategies based on the ‘home’ country of board and senior executive team members, not the global and local context.
4. Not investing in developing the required awareness, perspective, knowledge and capability in staff at the forefront of change. Staff often are the ones bearing the brunt of change, and poor skills development leads to disengagement and lack of performance.
5. Assuming that culture is something that ‘other people have’ and you are culturally neutral. To be effective, it’s critical to understand the assumptions and biases of your worldview and how they may be perceived.
Tamerlaine and the Senior Consulting team regularly work with Boards and Executive Teams at their global strategy meetings, both in Australia and offshore. These advisory services mitigate common risks and ensures our clients can apply strategies to maximise performance and global business results.