MGMT 1101 : Managing Global Business Environmental : Volatile and Comp
Question:
1. 'Three skills CEOs need most' by H. Sazena, Ivey Business Journal, May/June, 2015
Reflect upon and assess your past experiences, current skills level and motivation, discuss with your office manager 'what do you think are the skills need to lead effectively in a global environment?' Why do you think you don't have those skills yet?' How do your office colleagues from different culture view your identified skill shortage? Table and categorize the required skills sets/factors and provide a report outlining the constraint of international capacity of your office to your director for next year's professional development.
Answer:
In order for a business to flourish in today’s volatile and competitive global economy, company leaders must focus on the nuances, both internal as well as external, that are directly related to the sustainable growth of the business on international standards. By engaging in meetings and discussions with the internal stakeholders, they must develop the necessary skill set, a combination of the basic and case-specific elements that can drive company leaders or CEOs to success through effective listening, sensing and observing of the business prospects.
According to Peter F. Drucker (2005), performativity is directly dependent on the learning. For a business leader, this learning entails first the understanding of one’s own and thereafter the company’s strengths and weakness, in relation to the core values of the company. Taking a cue from Drucker, who focuses more on the humanistic side of successful business processes, A.G. Lafley (2009) contends that this learning must encompass the internal and external factors or stakeholders’ interests which has a direct bearing on the company’s benefits. However, both gives adequate importance to decision-making and optimization of business by receiving and integrating the customer feedbacks within the corpus of business processes. As a CEO of Proctor & Gamble (P&G), Lafley’s concerns circulate more around the interests of the customers (Lafley, 2018). H. Saxena (2015) also focuses on the development of the skills by the CEO through learning, but he is more concerned about the process of this learning, and suggests three criteria for the same – listening, sensing and observing. Like Drucker and Lafley, these three
phenomena also relate to the demands of the customers. Nevertheless, they also take into consideration the interests of other stakeholders. Listening to the suggestions of the customers and the employees are extremely important, as it may bring forth long-term benefits for the company (Saxena, 2018). Similarly, the CEO also must be able to sense any loopholes or shortcomings and adopt related necessary measures for the same. An all-pervading observant eye is also equally necessary for the leaders in this regard. Therefore, it may be said that, for this to have a full play, the organizational culture or the communication standards within an organization should have a transparent collateral approach, rather than a strictly hierarchical one.
Notwithstanding its correlation with Saxena’s contentions, Drucker provides a different argument. He says that these learning processes are related to the integral elements of the person concerned, whether he/she is predominantly a reader or a writer. This, he elaborates through characteristics of the U.S Presidents (Drucker, 2018).
This paragraph will discuss where in Europe the tools handled by the current CEO should be made available, whether in Germany, Liverpool or in other parts of Britain. In this regard, the propositions of Drucker (2005) argues that the advantages of taking over an existing handheld manufacturing plant in Germany is likely to result in the expatriate CEO’s better understanding of the business and regulation of adequate policies, since Germany ranks higher than Britain in terms of Long-Term Orientation in Hofstede’s Model of Cultural Dimensions. However, Raible (2016) argues that the disadvantages of taking over an existing handheld manufacturing plant in Germany is likely to result in poor business as compared to Britain because, unlike the British who are Indulgent and open to new changes the Germans are more Restrained and hence the new business is likely to be rejected by the Germans, who may see it as a threat to their corporate culture. Much in line with the previous argument, Elshandidy, Fraser and Hussainey (2015) argues that the advantages of taking over an existing handheld manufacturing plant in Britain is likely to result in quality business because the British corporate culture is more open to new avenues and prefers to trod upon uncertain paths more than Germany. Opposed to that, the contentions of Lafley (2009) argues that the key disadvantages of taking over an existing handheld manufacturing plant in Britain may result in poor business outcomes because in Britain people are comparatively more individualistic and concerned about the personal or family interests, rather than a shared interest of the entire society. The framework presented above borders heavily on the cultural dimensions of Geert Hofstede, and it may be argued that we can adopt this model because it gives a nuanced reading of the socio-cultural factors which has a huge impact on the establishment of a new business, especially if it is in a new country.
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Parent Company CEO |
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Name |
Ivan Harris |
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Location |
New South Wales, Australia |
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Phone Number |
(+612)74682091 |
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CEO Expatriate |
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Name |
Li Chen |
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Location |
Beijing, China |
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Phone Number |
(+8610)12763942 |
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If we are planning for international success, we must strike a balance between the bigger picture of the company and consultation with the major stakeholder at every level of our company. This approach, through appropriate communication methods, would be advantageous for us to assess our strengths and weaknesses, and do away with the duality of cultural nuances which has a direct impact on our business, thereby helping our business processes to acquire a dynamic dimension (Zenger, 2018). In order to address the international competencies, with which we had been experiencing a hard time so far, the variety of complexities that are associated with the landscape – the political, social, cultural and economic differences – should be strategically addressed, taking into consideration the goals and core values of the company. This would help our company leaders to effectively build partnerships, which is currently one of the major competencies for successful business on a global scale, although ironically globalization was supposed to make this process easier (Herd, Alagaraja& Cumberland, 2016).
Therefore, in conclusion, it may be said that the skills needed to lead effectively in a global business environment was lacking in our company, chiefly due to our adherence to older strategic measures which often fails to fetch success in the modern scenario. Innovative approaches to knowledge would help our leaders as well as the employees to connect the dots which constitute effective gateway to successful business endeavour on a global scale.
Activity 3
4.3.1 Masculinity or feminist Society of China and Australia
Australia and China have masculinity culture
4.3.2 Low risk avoidance or high-risk avoidance
China has low risk avoidance while Australia has medium risk avoidance
4.3.3 Power distance
In Australia, the power distance is low, whereas in China it is high
4.3.4 Long term relationship or short-term relationship
China has a pragmatic culture, whereas Australia has a normative culture
6.1 Contrast Australia and China value of
6.2 Freedom and belongingness
China enjoys both freedom and belongingness while Australia enjoys more freedom
6.1.2 Independence vs Group harmony
Australia is more independent than China, which believes in the group harmony
6.3 Self reliance vs collectiveness
China is a collectivist society while Australia is more self reliant
6.4 Individualism vs group consensus
China has group consensus whereas Australia has individualism
6.5 Competition vs cooperation
Competition and cooperation both exists in China whereas in Australia only competition exists
6.1.6 Efficiency vs quality
Australia focuses on quality of work whereas efficiency is the focus of China
6.1.7 Short term relationship vs Long-term relationship
China has a long-term relationship while Australia has a short-term relationship
6.1.8 Direct negotiation vs indirect negotiation
China maintains direct negotiations with the customers whereas Australia enjoys indirect negotiations
6.1.9 Openers and use go to between
7.2 Type of custom of shaking hands of the Chinese people
CEO expertise should shake hands of the Chinese lightly.
Parent Company CEO’s Perception of CEO Expatriate Skills:-
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Parent Company’s CEO’s Perception of CEO Expatriate Skills |
Date | ||||||
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Learning Outcome |
HS |
C |
NI |
HNKE |
N/A |
Training Completed | ||
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4.3.5 |
Able to demonstrate how to greet the host nation assistant manager at the office or airport |
Yes |
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28.09.2018 | ||
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4.3.6 |
Able to demonstrate how to greet a prospective new business partner in a business decision strategy |
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Yes |
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28.09.2018 | ||
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4.3.7 |
Able to demonstrate how to exchange business cards |
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Yes |
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28.09.2018 | ||
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4.8 |
Able to demonstrate how to exchange gifts that are actually appropriate |
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Yes |
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28.09.2018 | ||
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4.9 |
Able to demonstrate what gifts are culturally appropriate for the spouse of the expatriates |
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Yes |
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28.09.2018 | ||
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4.10 |
Able to demonstrate what gifts are culturally appropriate for the children of the expatriates |
Yes |
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29.09.2018 | ||
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4.11 |
Able to demonstrate how to accept gifts from the host nation representative |
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Yes |
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29.09.2018 | ||
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4.12 |
Able to demonstrate to sit around the boardroom based on seniority and authority |
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Yes |
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29.09.2018 | ||
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4.13 |
Able to demonstrate what to talk about in the first meeting |
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Yes |
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29.09.2018 | ||
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4.14 |
Able to demonstrate what to talk about in the second meeting |
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Yes |
30.09.2018 | ||
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4.15 |
Able to demonstrate what to talk about in the third meeting |
Yes |
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30.09.2018 | ||
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4.16 |
Able to demonstrate how to accept invitation to go out for dinner |
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Yes |
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30.09.2018 | ||
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4.17 |
Able to demonstrate who to sit next to in business meetings |
Yes |
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1.10.2018 | ||
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4.18 |
Able to demonstrate how to give concessions in business negotiations |
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Yes |
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1.10.2018 | ||
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4.19 |
Able to demonstrate how to accept |
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Yes |
1.10.2018 | ||
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4.22 |
Able to demonstrate how to negotiate and close the deal 6 to 12 months after building a trusting and respectful business relationship |
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Yes |
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1.10.2018 | ||
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4.23 |
Able to demonstrate an understanding of the geography of China |
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Yes |
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2.10.2018 | ||
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4.24 |
Able to demonstrate having visited and gained awareness |
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Yes |
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3.10.2018 | ||
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8.6 |
Able to demonstrate expertise in receipt of the business cards from the Chinese business clients by accepting business cards |
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Yes |
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3.10.2018 | ||
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8.7 |
Able to demonstrate ability to shake with both hands |
Yes |
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3.10.2018 | ||
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8.6.2 |
Able to spent 20-30 seconds reading the cards |
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Yes |
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4.10.2018 | ||
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8.6.3 |
Able to demonstrate engage in conversation on one of the skills on the card and past expertise or role highlighted on the business cards |
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Yes |
4.10.2018 | ||
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8.6.4 |
Able to demonstrate placing business card in a business card holder sign of importance |
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Yes |
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5.10.2018 | ||
Skill gaps:
The skill gap of the first respondent, (name) is that he required further training in business decision making. The manager is required to take further training regarding macroeconomic environment analysis which would contribute to strengthening his business decision skills. The training should include developing of understanding among the customers regarding cultural diversity of employees. This would enable him to lead his team of subordinates better.
The second skill gap existed in the field of customer management, once again due to lack to cultural intelligence. Thus, the training should also incorporate study about different cultures of the host countries. This would enable the manager under trained named (name) to deal with customers better.
The third skill gap exists in the area of technological knowledge as far as the manager (name) is concerned. He is required to develop knowledge about the various technical resources he could use to gain and manage business information. He is also required to take training about holding meetings on the teleconferencing systems and to exchange confidential data with the senior management in a secure manner.
The fourth skill gap existed in the area of decision making of ,,,,(name of manager) in the area of financing decisions. The manager should undergo financial training under the guidance and supervision of the finance department. He should be trained with different methods of costing and accounting. He would be taught budgeting and several other important accounting aspects.
The fifth skill gap identified was conflict management skill deficiency with ….(name of manager). He would be given training on developing his communication skills and ways of communicating with his subordinates more effectively. This would enable him to manage conflict more effectively and ensure smooth production.
Reference:
Drucker, P. (2018). Managing Oneself. [online] Irpublicpolicy.ir. Available at: https://irpublicpolicy.ir/wp-content/uploads/2018/05/Managing-oneself-irpublicpolicy-1.pdf [Accessed 11 Sep. 2018].
Elshandidy, T., Fraser, I., & Hussainey, K. (2015). What drives mandatory and voluntary risk reporting variations across Germany, UK and US?. The British Accounting Review, 47(4), 376-394.
Goldsmith, M. (2018). Being an Effective Global Leader. Retrieved from https://hbr.org/2009/07/being-an-effective-global-lead
Herd, A. M., Alagaraja, M., & Cumberland, D. M. (2016). Assessing global leadership competencies: the critical role of assessment centre methodology. Human Resource Development International, 19(1), 27-43.
Lafley, A. (2018). What Only the CEO Can Do. [online] Harvard Business Review. Available at: https://hbr.org/2009/05/what-only-the-ceo-can-do [Accessed 11 Sep. 2018].
Raible, S. E. (2016). Entrepreneurship Ecosystems: A Comparison of the United States and Germany.
Saxena, H. (2018). Three Skills CEOs Need Most | Ivey Business Journal. Retrieved from https://iveybusinessjournal.com/three-skills-ceos-need-most/
Zenger, J. (2018). The 6 Competencies Global Leaders Need To Succeed. Retrieved from https://www.forbes.com/sites/jackzenger/2014/06/26/the-6-competencies-global-leaders-need-to-succeed/#3f15041c56f1
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