Leadership: How to develop global leaders

Some tips on how to develop global leaders

Technological advancement has made it possible for businesses to sell their products or services to any one who is willing to buy irrespective of his/her location on the globe.

For a business to succeed in today’s global market it needs to cultivate global leaders. Efficient global leaders give a competitive edge to the organization in the global market. They are more confident and have the ability to face challenges head on. According to a survey, 76 percent of senior executives believe that their companies need to develop global leadership capabilities.

Only seven percent think that their organization is developing global leadership capabilities very effectively. Around 30 percent of the companies in the United States of America admit that they have not been able to exploit global business opportunities fully due to insufficient internationally competent leadership. Currently there is a huge demand for global leaders. Organizations should develop leadership development programs that address the new global framework.

While it is important for global leaders to understand the cultural background of their target market, it is very important for them not to forget their roots. They should embrace what some experts call “rooted cosmopolitanism”, by nurturing their own roots and branching out beyond them to connect with counterparts elsewhere.

It has been observed that expats who identify strongly with both their home and host cultures perform much better than those who identify only with either one or with neither.

Some people believe that global leadership is developed through experience. It is true that experience is an excellent teacher; however, experience is not sufficient for development of an accurate global mindset. Global leaders should invest a significant amount of time on studying about their industry. They need to know how things are in different markets. They need to understand the factors that shape international interactions in their businesses by undertaking a structured examination of cross-country differences and their effects.

It is impossible to develop a standard list of global-leadership competencies. Self awareness, engagement in personal transformation, inquisitiveness, optimism, self regulation, social judgment skills, empathy, motivation to work in an international environment, cognitive skills, acceptance of complexity and its contradictions, knowledge, social skills and networking skills are some skills that a global leader need to possess. It is very important to train the leader for a specific market.

Significant localization has occurred in the management teams of foreign subsidiaries of many successful MNCs. It is advisable to embrace the practice of rotation. This policy gives an opportunity for the company to develop global leaders.

It has been observed that nationals from key growth markets like China,India,Brazil and Russia are underrepresented in the leadership ranks of many US and Europe based MNCs. It can work against these companies in the long run. It is advisable to hire future global leaders from these countries.