The Importance of Global Leadership
The competitive environment of operating enterprises in the dynamic and complicated fiscal boundaries makes leadership a crucial component of the global economy. It emphasizes how crucial globalization has become in the twenty-first century, which makes it necessary to evaluate the qualities required for the advancement of human resource development directed toward worldwide recognition. Following a study of 108 senior executives, the 90th percentile of the world's firms have since been ranked as having the best leaders in the world (Caligiuri & Tarique, 2012). Global leaders can develop their strategic thinking skills and succeed in a multicultural workplace, which highlights the core of global leadership.
Spotting Trends and Linking the Dots
One of the central competencies in the global setting is the ability to spot trends and link the dot in a way that enables one on to see around the corner. The best global executives have the potential of selecting the associated issues that others tried to ignore. An example of such an executive from the study on 108 supervisors showed that the manager responded to the challenge of a declining revenue in a wise manner (Caligiuri & Tarique, 2012). As it was unexpected, the executive called his friends and asked whether they had seen the same trend, which promoted him to delay the planned expansion. The manager was thus in a position to adjust flexibly to the economic slowdown following his ability to spot a trend that others could not identify. The other competency is the aptitude to take risks and capitalize on the untapped potential (Cumberland, Herd, & Alagaraja, 2016). The leader is thus in a position to develop the skills that the members in the team demonstrate because they would give each stakeholder the opportunity to exploit and show their potential.
Embracing Cultural Diversity
Worldwide leaders’ needs in a globalized setting can thus be well addressed through embracing the competencies of global leadership. One of such necessities is the knack to demonstrate sensitivity to cultural diversity to best exploit the opportunities at their disposal (Deters, 2017). The world in the current setting is a global village and as a result of the interactions, there has been diversity in various sectors. In some countries, for example, stacking your chopsticks could be perceived as minor but could be off-putting (Clawson, 2014). However, through the provision of the competencies of global leadership, it is possible for the leader to appreciate the diversity at their disposal and thus capitalize on the efforts of the team members (Dyer, Jr., Dyer, & Dyer, 2013). Usually, much of the insight comes from experience, recognizing culture, and eventually mastering the global business arena. The alternative way in which the competencies meet the needs of leaders in a globalized setting is through enabling the leader to achieve global strategic thinking (Zenger, 2014). The aptitudes enable the leader to think strategically on how they can manage business with the best workers possible. The ability to demonstrate this skill can only be achieved through understanding the model of business operation on a global scale.
Conclusion
In conclusion, it is summed that the key competencies in global leadership are the capability of spotting trends and adjust accordingly and taking risks to capitalize on the potential that is at disposal. Through such trends, the global leader can meet the needs required to thrive in a global setting, including thriving in a diverse setting and thinking strategically to realize the best results.
References
Caligiuri, P., & Tarique, I. (2012). Dynamic cross-cultural competencies and global leadership effectiveness. Journal of World Business, 550. http://doi.org/10.1016/j.jwb.2012.01.014
Clawson, J. G. (2014). 11 Key characteristics of a global business leader. Darden Leaders to Action. Retrieved from https://ideas.darden.virginia.edu/2014/01/11-key-characteristics-of-a-global-business-leader/
Cumberland, D. M., Herd, A., & Alagaraja, M. (2016). Assessment and Development of Global Leadership Competencies in the Workplace. A Review of Literature, 18(3), 301–317.
Deters, J. (2017). Global leadership talent management. Frontiers in Global Management. Bingley, UK: Emerald Group Publishing.
Dyer, W. G., Jr., Dyer, J. H., & Dyer, W. G. (2013). Team Building: Proven Strategies for Improving Team Performance. John Wiley & Sons.
Zenger, J. (2014, June 26). The 6 Competencies Global Leaders Need To Succeed. Forbes. Retrieved from https://www.forbes.com/sites/jackzenger/2014/06/26/the-6-competencies-global-leaders-need-to-succeed/#2c25d0656f12
