Question

prepare a thoughtful 2-page paper with your reflections on the issues leaders face when working in a globalized world and how you as a leader can prepare yourself for this world.

Answer 1

Globalization has grown exponentially in the recent years and is molding the management approach, leadership and the thought leaders to consider the holistic view when taking decisions. In business sense, globalization is removing the geographical barriers to create value for customers without major differentiation.

Due to globalization following activities have increased:
• Buying and selling across countries
• Firms creating strategic alliances and opening manufacturing plants in new countries
• Wider range of sourcing options
• Bigger market to sell the products
• Reduction of trader barriers

In such times, leaders have to change and adapt to the dynamic nature. A leader is the one who is accountable and responsible for the people in the firm and he has the ability to influence and change the thoughts and actions of the group and individuals.

In today`s world, Issues leaders face have become increasing complex. There have been series of transformations across public and private sector which make the job of leaders even more difficult than it was earlier. Problems such as depression, financial crisis, wars etc. in one country can seriously affect the business value chain and can have huge impact on the outcomes of organization. Gone are the days when local problem was an odd incident which would not create any major distraction. Leaders nowadays have to wide awake of even the remote issues which can affect the country and organization.

Few major issues a leader can face in the globalized world are:
• Security concerns over energy
• Wars, debt and poverty
• Increased competition
• Global business imbalance
• Rise of new powers
• Economic grouping and cartels
• Health crisis
• Improper governance regulations
• Effective change management
• Managing collaboration between all stakeholders

Discussing a couple of them below:

Security concerns over energy - ever since the turn of millennium energy concerns have been growing across the globe. Countries and firms have been long trying to find alternative solutions to reduce the dependency on non-renewable energy sources. The energy source depletion leads to increased cost of goods across the globe, higher logistics costs, higher warehouse costs and high sourcing costs.

Increased competition across the world: Due to globalization, many new countries have begun entering new markets. New companies have begun dumping materials and products in to new markets causing local manufacturers and organizations to rethink their approach. Leaders have to wary of letting such entries since it will significantly affect their long term growth plan.

In such situations I as a leader would have to take preventive steps to ensure I can adapt to such changes, respond to the issues faster and mitigate the problems. Some of the areas I will focus on are:

• Be proactive in creating goals and achievable targets irrespective of globalization and completion
• Delegate more and take strategic decision when needed
• Work on tasks that maximize the value addition
• Gain clarity on all issues as and when they arise
• Develop relationship skills across boundaries
• Practice effective change management
• Develop skills to mitigate organizational politics