Domesticating Global Management - a commentary
This essay puts forward an idea that to be good in this era of globalization, there should be integration between foreign policy leaders and domestic policy leaders. In this way local leaders make some inputs to foreign policy leaders in making successful foreign policy (Paarlberg, 2004). If we talk in multinational management perspective then it is very important for the local managers to think globally (May, 1997). Managers must analyze their industry and identify the specific drivers that affect their operation and development and identify the number of global strategy levers: global market participation; products (global products, or local products); location of the value chain; marketing strategy (Lloyd, 1996). In global businesses there's often a question about what you can plan for on a worldwide basis and what needs to be managed on a local basis (Simpson, 1995). Most businesses have a variety of different cultures because there are different people working within the company. Therefore, it is necessary for the business to establish an environment where managers and employees think in one direction that is –globally, even they are working in a local environment.
Lloyd, B. (1996), “The outlook for globalization”, Leadership & Organization Development Journal, Vol. 17 Issue 5, p. 18-23, ISSN: 0143-7739
May, A.S. (1997), “Think globally – act locally! Competences for global management”, Careeer Development International,Vol 2/6 pp.308-309, ISSN 1362-0436
Paarlberg, R.L. (2004), “Domesticating Global Management”, Foreign Affairs, Vol.44 Issue 3, p.563-576 (AN 4854171)
Simpson, D. (1995), “Planning in a global business”, Strategy & Leadership, Vol. 23 Issue. 2, p. 25-26, ISSN: 0094-064X