Leadership business to a desired level. the business

LEADERSHIP AND MANAGEMENT  For people with the aim of shaping their future and developing their skills in international business, and also who wish to participate successfully in a challenging economic development would need to learn the art of leading positions within organizations and firms with international operations.    When running a multinational business, there are various characteristics a leader should possess such as: Overseas experience- To become a successful international leader, one must have lived or travels abroad regularly. Transcending your own cultural perspective and learning how business is done in different countries is essential. Self-awareness- You should understand your belief and also know where they might differ from others is critical to global executive success. Without this, you will not be able to adapt to and tolerate deep-seated beliefs of others. Sensitivity to Cultural Diversity- In other countries, minor things can be of putting and much of this insight comes from experience. You must have an intense interest in the lives and cultures of others, recognizing that your culture and background are not inherently superior, to master the global business.

Humility- To be interested in other cultures and how people do things in those cultures requires a certain level of humility which means a belief that other cultures have figured out very interesting answers to life’s problems. As a good international business person, you must be open to and fascinated by those answers. Cautious Honesty- People sometimes omits information or only tell what they think other people need to know. In global business settings, executives need to know they can count on you. If you don’t deliver on your business promises, your reputation might end up in the grain.

GROWTH After combining all the factors above, it is important to grow the business to a desired level. The business has to grow from its original level which is the local/national level to a multinational business. The growth is all about patience, It’s possible to combine all the factors above and still not be able to make a business multinational.

The key to the growth of any business is goal setting. These goals serve as a guide as well as a motivation to work hard and to keep track of mile stones that have been met in the growth of a business.  There are various factors involved in growing your company, some of these includel Relationship with customers: While we don’t particularly agree with the “ customer is always right” phenomenon, we do believe the customer should be treated with respect. The customers are the main source of income of the company and for that reason, it is necessary to gain their loyalty and trust thereby securing their purchasing of you product. l Relationship with Staff: The staff can be referred to as the heart and soul of a business, while we say the customers keep the business running, the staff make it run… The staff are dedicated to satisfying the needs of the customers as well as the demand of the CEO (who is also a member of staff but higher). Ever so often, the staff should be rewarded with raises or promos.

The CEO should build a decent relationship with the staff he is directly in contact with, thereby teaching them to show the same level of respect to their subordinate. This way, a culture would exist in the company and it would make the running of the company smooth. l Choice of location: The location is a very important factor in the growth of any company. As a CEO or Leader of a business, you want to be in a location where your business will thrive and even take over the entire market. The whole idea is to be in control of the market and get sufficient recognition to grow into a multinational business. l Franchising: Depending on the type of business, franchising is a good idea.

It lets you run your business under a different management whilst gaining publicity. l Legalization of business: From the very moment you start your business, it is important to have all the legal document needed for the existence of the business. It ensures that you’re protected by the government and it also builds trust in potential alliances. l Form alliances: It is important that you form alliances with businesses that’ll help yours grow. These alliances are symbiotic, both businesses help each other get better.

Merging with or acquiring another business expands your market to the business merged with or acquired; their customers become your customers. l Diversify: It is important that your business is ready to adjust it’s strategy when is begins to grow. As a growing business, you will begin to target other markets. A particular strategy might not work in all markets, so, for every new location or market, a new strategy and business plan should exist to ensure success in that location.

l Win a government contract: As long you are able to provide services or a product needed by the government, endeavor to sign a contract with the government. The government is usually willing to invest a lot of money in its projects , this increases your revenue by a significant amount. l Expand to the internet: The internet is one of the best places to gain popularity, there are millions of people surfing the web especially social media, so builing your online presence would increase your market and automatically giving you global representation.