Food is global. Travel is global. People are global. Am I missing anything? Well, of course! Business is global.
In the 21st century, the concept of global business probably does not come as a surprise to you. In fact, with evolving supply chains, tremendous technological advancements, and the vast web of communication channels available today, working on an international scale seems almost easy. If businesses want to ship a product overseas, there is an app for that. If consumers want to make a payment across the pond, financial transfer services are there to help.
But is it really that easy, one click of a button and global business is a done deal? Nothing is ever as it seems. Read below and keep these tips in mind next time your business takes you to China or you decide global expansion is the be all and end all.
PR and Media Under Fire in China, Extortion Racket Busted
PR Week
In China, two police arrested two agency heads and eight journalists on charges of extortion in Shanghai. Per the report, two PR firms and journalists of 21st Century Business Herald ran an extortion racket (aka: cash for coverage) where they exchanged bribes for favorable website news. While this may seem irrelevant to non-local readers, think again. Journalism and PR agencies are under the spotlight for being blackmailers with unethical ideals. Read more to see how actions within one country can change the perception of an entire industry worldwide.
Harvard Business Review
When times are difficult and an industry is under pressure, managing global organizations is challenging. Leading executives from Michelin, Telefónica, Hitachi, and Honeywell share first-hand advice on how to adapt to the shifting economic world. Some key takeaways include creating a culturally sensitive corporation, diversifying talent to suit the market, standardizing human resource practices, and shifting the focus to emerging markets. Read more to understand how working on the international scale can bring its share of positive and negative influences.
Why Does Scotland Want Independence? It’s Culture vs. Economics
New York Times
While some businesses within countries thrive on the international scale, others stand on unstable ground. With a recent twist, Scotland would like to claim its independence from the United Kingdom. If Scotland does decide to go the independent route, it will lose the advantages that come from being apart of a large global enterprise. As stated, “It is a fight over the world of multicultural modernity that makes today’s global economy possible, but also leaves many people with a deep hunger for the sense of national identity it obliterates.” Read more to gain a further grasp of how the tie between national identity and business impacts the global mindset of countries.
The world is evolving at an increasingly fast rate. From publicized scandals in China, to talented professionals from across the globe, to a country claiming its independence, the world has become your business. But, working on the international scale is not always for everyone. It is easy in some ways but difficult in others. Take a minute and evaluate your professional priorities. What opportunities would you consider pursuing in this global world?
Share with us in the comments below!
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Julia Pizzutti is an intern for WordWrite Communications. You can find her on Twitter @julzutti93.
