Moe and Robert Salomon talk about how companies can overcome the pitfalls of globalization
The Traps of Globalization and How to Overcome Them
One of the big misconceptions about the modern business environment is the ease by which an organization declares itself a ‘global enterprise’. Certainly social media and technology has made connecting across boarders seamless and simple; still growing a business unit overseas and appealing to a foreign market is a challenge that few have been able to overcome.
The great New York Times columnist, Thomas L. Friedman is fond of saying that “pessimists are usually right and optimists are usually wrong but all the great changes have been accomplished by optimist.” Friedman is certainly an optimist, and it’s hard to believe that nearly a decade has passed since he challenged us to reimagine a future where globalization will not only redefine business, but will be the essence of competition in the twenty-first century. While no one will argue his thesis, many continue to struggle to find the right strategies to consistently win globally.
New York University professor, Robert Salomon has been immersed in the management and economics of international expansion since joining the faculty of NYU in mid-2005. In his latest book, Global Vision: How Companies Can Overcome the Pitfalls of Globalization, he outlines an approach to global business management that’s both strategic and calculated. Combining economics, psychology, sociology, international business, and business strategy; he encourages you to think deeply before you affirm your global vision. I spoke with professor Salomon about his personal experiences and the mistakes that any size business can learn from his work - Here’s what you can expect from our conversation:
Why the world isn’t necessary flat
How managers overestimate the benefits of globalization & underestimate its costs
The one common trap that stumps almost every company expanding overseas
Why domestic companies always have an unfair advantage over their foreign counterparts
Rethinking how you identify and develop talent overseas
Leading a global enterprise - what works and what to watch out for
The most important criteria to consider before making the leap