International Business Development: Strategies, Skills, Examples

International Business Development

Strategies ▪ Skills ▪ Examples

Incorporate global mindset, world intelligence, and international business considerations into your business thinking and business planning

3 Ways to Develop a Global Mindset

① Practice global empathy until it becomes a habit

② Grow your world intelligence and international mindset

③ Keep making the world better

Coaching by Example

Here are some international business entities I am involved in as a founder, a co-founder, or an adviser

~ Vadim Kotelnikov

Innompic Ecosystem – the global capital of innopreneurship

GAInS – global alliance of innovators for sustainability

BRICS Innovation Ecosystem

WEneurs Forum, India

Change 90, Canada

International Mindset

International Intelligence is a set of qualities and attributes that help a manager influence individuals, groups, and organizations from other parts of the world.

It’s part personality, part attitude, part know-how, part learning.

An international mindset is a key to success in today's business world. Cross-cultural empathy is a must if you want to learn and master the knowledge and skills that are needed to become a successful leader in global initiative, project, or business. Cross-cultural communication arts and skills will help you cross-pollinate thoughts, understand different points of view, learn something new, educate, have a dialogue, and/or develop friendships.

An international mindset and global intelligence equip you with the tools and strategies to communicate effectively both within your global business and with international colleagues wherever you go.

Having an international mindset helps boost collaboration, productivity, and profits of your global business as well as to make a greater global impact. It’s a smart business investment for organizations to adopt an international mindset and actively encourage, train, and support employees to also think in the same way in today's rapidly changing and inter-connected world.

Manage Cultural Differencesand Leverage Diversity

Too many international joint ventures fail. Too few CEOs of international joint ventures characterize their business as "very successful". Cultural differences is a common reason for joint venture difficulties.

If you wish to bring your international business to a successful outcome, you must be culturally competent.

Example: GE

Under Jack Welch's leadership, GE's sales rose by US$60.1 billion within just one year. Over half that increase came from abroad. Welch developed strong, direct and simple principles to increase GE's global sales. "The winning corporations – those who can dictate their destiny – will win by finding markets all over the world," sais Jack Welch.

Three-Stage Process

Jack Welch regarded globalization as a three-stage process:

① Going after markets and expanding the company's horizons.

② Globalizing components and products, and sourcing around the world.

③ Globalizing the intellect.

Main Principles

Move into global markets fast and powerfully.

Prepare to win: build a solid, domestic base before launching the attack.

Use acquisitions to create or enlarge a bridgehead.

Strengthen under-performing businesses by acquisition and pooling assets.

Concentrate on major businesses where you can win.

Develop local management, and bring expatriates home as soon as possible.

How to use this information

① "Adapt what is useful, reject what is useless, and add what is specifically your own." ~ Bruce Lee

② Sleep on this information – your powerful superconscious mind will tell you how to use it when you wake up

International Business: Innompic Planet of Loving Creators

Slides

Cultural Intelligence

Notes