Global Mindset Flashcards
What is a mindset?
Natural human process for filtering input from an overly complex world so that life becomes manageable.
A product of our histories
What are the major challenges that expatriate managers face?
1) Cultural or national conflicts between staff
2) Inability to understand local culture
3) Different working styles and office norms
4) Inability to speak the local language
5) Resentment of salary differentials
What are the two schools of thought on leadership?
Competencies - techniques, skills, values and uniqueness that are considered essential for satisfactory performance
Mindset - three types of capital that serve as filterers: social, psychological and intellectual
What is global mindset?
Individual attributes that help influence individuals, groups and organisations that are unlike the leaders
A set of attributes that help global leaders better influence individuals, groups and organisations unlike themselves
Helps influence individuals, groups and organisations inside and outside their firm
What are the reflections from the Michael Faye goes to China case?
Change/adapt learning strategies for each situation: think about how you learn, what you learn and what are your biases
Challenge ‘blind spots’ and create possibilities;
- Bias of China being the world’s factory
- Michael was open to let China become an R+D centre
- Communicated China’s benefits in a way that alters the mindset of key global decision makers
What comes under global social capital?
Intercultural empathy - work well with other cultures, emotionally connect with other cultures, understand non-verbal expressions, engage with people
Interpersonal impact - negotiation experience with other cultures, strong networks with influential people from other cultures, reputation as a leader, credibility
Diplomacy - ease of starting a convo with a stranger, ability to integrate diverse perspectives, ability to listen to others, willingness to collaborate
What is global intellectual capital?
Global Business Savvy - knowledge of global industry, global business strategies, transaction knowledge and risk mitigation in other countries, supplier options
Cosmopolitan Outlook - knowledge of cultures in different parts of the world, geography, history and important people, world events, economic and political issues
Cognitive complexity to grasp concepts quickly, analyse and problem solve, explain complex issues simply
What is global psychological capital?
Passion for diversity: interest in exploring other parts of the world, getting to know other people from around the world, in living in another country and variety
Quest for adventure: interest in dealing with challenge, willingness to take risk and challenge yourself, interest in dealing with the unpredictable
Self assurance: energetic, self confident, comfortable in uncomfortable situations, witty in tough situations
What do we know about global mindset?
1) Link between global mindset and individual performance - more effective managers, better at motivating and building relationships
2) Link between global mindset and corporate performance - ability to exploit emerging opportunities and tackle their accompanying challenges
3) Tighter focus on 2-3 behaviours has a greater impact on performance
How do the different forms of capital relate to cognition/affection/behaviouralism?
GSC - behavioural
GPC - affective
GIC - cognitive
Why does global mindset matter and how do you decide whether to implement it?
Important to globalise people for their global roles
- Depends on whether business units are domestically oriented or globalised
- Need to examine extent, pace and nature of globalisation
How can a firm assess their own globalisation situation?
Understand
- Globalisation of firm’s markets and supplies
- Globalisation and geographic dispersion of talent pool
- Strategic implications of the globalised business
Who is globalised mindset increasingly important for?
The big 4 accounting firms
How is global mindset not just for expatriates?
Need to globalise the mindset of those working with stakeholders in different parts of the world.
What factors influence global mindset?
- Industry: highest GM score in telecommunications, lowest in manufacturing
- Organisational function: lowers scores in IT, admin and manufacturing, highest in marketing, finance and communications
- Speaking multiple languages
- Women greater GPC
- Men greater GIC
- The number of countries you’ve lived in
- Organisational level - the higher up, the higher GM
- International degree improves GM
