Innovation is crucial in the business world, and as companies and businesses grow larger, they often find it difficult to promote new ideas. Bigger companies are usually less mobile, and quick changes to operations and strategy become much harder to implement after initial success. For companies looking to break this mold, empowering upper level management is very important, in order to enact the changes needed to push the business culture toward innovation.
globalEDGE Blog - By Tag: management
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Globalization can be seen in every crack and crevasse of the earth now that we can communicate globally at unprecedented speed. To be a thriving, growing business, most would argue that once you are well established in your domestic nation, the next logical plan is to take your business internationally.
There are many studies that point to the idea of globalization and how many cultures are mashing together into one as the world becomes more technologically advanced. While technology plays a large part in this, do younger generations have an impact on narrowing the cultural differences between two nations?
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When speaking with U.S. business leaders about global leadership and cultural intelligence, I’m often asked, “Is anyone talking to people in China and India about their need for this? After all, shouldn’t this be a two-way street?”
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A recent article from The Economist describes the renewed emphasis that global businesses have put on hiring the best and brightest recruits. Business leaders support the “Pareto” philosophy that a very slim portion of the world’s workforce is responsible for the vast majority of actual progress. One influential corporate leader can have more impact on a company’s direction than an entire department of lower-level employees. For this reason, companies such as General Electric (GE) and Procter and Gamble (P&G) have invested disproportionate resources toward finding and keeping “the vital few.” In today’s global economy, an important aspect of developing such prominent leaders includes exposure to international knowledge and opportunities.
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A recent article in the Harvard Business Review highlights the importance of living abroad, and the positive impacts it can have on your career. Not only will this benefit the individual manager, but the company sending their workers abroad as well.
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In the recent recession, many companies slashed jobs, some by more than 20 percent. When a corporation slashes their workforce by more than 20 percent, this is called extreme downsizing. But companies that have made these deep job cuts may suffer in the longer term.
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It's a problem many of us deal with, especially those running small businesses. In today's world, email stands out as one of the domninant forms of communication. When on vacation, or away on business with no access to your email, the load tends to pile up rather quickly. In the following video, Gina Trapani of Fast Company offers some tips on how one can work smarter and develop a system for dealing with such mountains of email:
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Many managers are feeling under pressure at work due to the current state of the economy. In their desire to boost up morale at work, many of them actually tend to reward bad behavior in the office which can be costly to the company. The following are some well-intentioned practices that tend to backfire and ways to fix them:
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Want to know more about how the top Japanese companies do business?
The Fall 2009 class at Sophia University in Tokyo, Japan has written and narrated a series of podcasts which explain many aspects of Japanese firm management, in addition to presenting the students' perspectives on the issues.
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Now, more than ever, it is important for the business world to employ people who are willing to continuously grow and expand their knowledge. Technology is changing constantly and what is needed is people who can adapt to different situations rather than those who do things “by the book”. Furthermore, it is important that people learn to not be afraid of failure. A big mistake can cause someone to lose their job, but risk-taking can also lead to innovation and career advancements.