As our network continues to evolve, so do our committees and management’s expectations to stay committed. We shall acknowledge that on the global stage, approaches will not be the same for all. One of our challenges is providing an environment that will be pleasing to the “millennial” generation while supporting previous generations through advisory, training, and mentorship. GCRI responds to the modern-day challenges by finding a balance between talent and expertise through the creation of decentralized virtual tribes. Virtual tribes inspire creativity and innovation and enjoy the support of GCRI’s Advisory Committee. Advisors act as the initial points of engagement for tribes to gain ideas of how to achieve sustainable results in strategic planning, allocation of resources, use of technology, among other best practices of leadership and management. Advisory Committee members can accelerate sustainable innovation and help local leaders acknowledge the salient aspects of the global economy and the issues affecting their business environment.
GCRI Advisor will evaluate the global dimensions of a business that affect business operations regarding policies, laws, finances, management, and marketing, among other aspects. Advisors will also discuss the application of ethical principles to leadership decision making tactics. Demonstrating ethical leadership will allow the organization the opportunity to perform at its highest potential. The more confident leaders are about their decisions, the more cooperative they will be in their work performance. Business leaders should be aware are all times of their Environmental, Social, and Governance (ESG) standing, level of competition in the global market, change in customer demands, and the impact of the organization as a whole. Therefore, the management of an organization must have a global perspective on managing risk and fostering innovation by understanding social, political, economic, and technological factors that the organization has no control over.
At a macro level, the global business environment needs to coordinate business to business engagement to create competitive advantages for a multidomestic strategy (think local, act local), global strategy (think global, act global), and transnational strategy (think global, act local). The transfer of technology, skills, human, and capital resources can only be effective if business enterprises can coordinate and collaborate, especially when they share common interests in a given industry. Such coordination ensures that these organizations set industry accreditation standards to inspire quality practices and training to give consumers value and agency.
The Advisory Committee, as a collective acknowledges that the international business environment requires organizations and their leadership structures to formulate philosophies consistent with the values of a specific market or region while respecting the cultural diversity at the global level. The global business must leave to the fact that the fast-changing technology affects companies’ overall performance. Therefore, the most significant challenge that managers and business leaders face today is to continuously align their structures, policies, and strategies to benefit from the immense technological applications.
Additionally, an understanding of the political structures is critical to an organization’s operations in any market. It highlights the aspects of governance, how to engage government agencies and processes, interpretation of the government policy, and the level of government’s intervention in business. Realistically globalization requires more than some form of business knowledge and understanding to manage a business successfully. It is beneficial to have skills, talents, and the ability to manage staff or business, but interpreting the legal ins and outs for satisfactory operation is necessary. The evolutionary nature of the current business environment requires organizations and their leadership structures to understand the essence of their engagement and the need for a global perspective.