The business world is constantly changing with the rapid development of new market possibilities in Asia, Europe, Latin America, Africa and Australia. This demonstrates the importance for organizations to recruit and retain leaders who have developed a portfolio of international business experience.
Why does exposure to global business practice benefit business leaders and the organizations they work for? With the growth of the global middle class, export and manufacturing industries in the United States are more actively pursuing strategic expansion into new overseas markets, which invites ethnic diversity into the corporate culture and business process. In order to successfully connect your products, sales or services to foreign buyers, an executive team with global business experience is essential.
Businesses are looking for executives with more than global business awareness, they are looking for leaders who have built intercultural competencies.
Developing Intercultural Competence
When business leaders seek out opportunities to meet and engage with organizations abroad, it opens the door to a deeper understanding of unique models and approaches. Within the United States our business practices have small variations depending on the region, but in general they are fairly predictable and uniform. In the many industrialized countries abroad, business methods are impacted significantly by sociocultural and economic influences which are very unique to the region. They vary dramatically from American norms.