When you make decisions for your business, many things have to be taken into account. Besides, nowadays, strategies have to be based on a global approach, which makes it even more complicated to understand and to elaborate. For this reason, you might not be sure of the decisions you made, although it seemed to be the best option. You can ask yourself this question many times, but the most important is to make sure that your global strategy is good. In The 5-STAR Business Network (http://bit.ly/5-STARBN), a book by Vivek Sood, you will read a lot of things about global business networks and their importance for your business in today’s globalised business world. In fact, today, everything must be based on a global thinking. Any time you have to make a decision for your business, “global” is the key word and the basis for best achievements. Then, you have to be aware of every global trend and act accordingly. Long-term planning must pay attention to key issues of worldwide importance. Because of the increasing importance of this global approach, networks have become important too. In the global scene, you cannot play without a great network. “Networks have become more powerful than they ever were in the past”, Vivek Sood said in his book. Moreover, he added, “Global Business Networks will have an increasingly bigger role to play in the future”, which reveals its increasing importance. Relying on several reports and studies, Vivek Sood exposed many important points about global business networks and clear explanations of its functioning. Many players intervene in the global stage and that is the reason why any strategy must take into account this dimension. Any single strategy must be aligned with the business strategy of the company, which itself must be based on a global approach. Today, your businesses are dealing with global issues in a hyper-globalised world, which means that expertise and influence will determine your position, and your network plays a key role in this story. Whether they are small or large businesses, they must have a global strategy, in order to compete with any competitor in the global market, and to benefit from the best assets, by working in team with global partners. Although it might not be easy to manage relationships with global partners, located all over the world, it is the best option to develop your business on the global stage and to make your place in the global market. You cannot be a leader without having a global approach for your strategy. You will have to deal with global issues anyway, even if you do not focus your strategy on a global approach, so it is better to do it in the first place. Global strategies will give you the best opportunities and the best results in the end. To conclude this article, we have no choice but to accept that is a reality and global approach is no longer an option for your business strategy. Everything in your company must be aligned on this global strategy, if you want to achieve the best.
Is your global strategy on track?
TIME TO READ
May 19, 2020
Copyright - These concepts, frameworks and ideas are copyright of GLOBAL SUPPLY CHAIN GROUP from the time of their creation. Do NOT copy these without permission and proper attribution.
- These ideas and concepts will be usually expressed by our thought leaders in multiple forums - conferences, speeches, books, reports, workshops, webinars, videos and training. You may have heard us say the same thing before.
- The date shown above the article refers to the day when this article was updated. This blog post or article may have been written anytime prior to that date.
- All anecdotes are based on true stories to highlight the key points of the article - some details are changed to protect identification of the parties involved.
- You are encouraged to comment below - your real identity and email will not be revealed when your comment is displayed. Insightful comments will be featured, and will win a copy of one of our books. Please keep the comments relevant, decorous and respectful of everyone. All comments represent opinions of the commentators.
Our Quick Notes On Five Flows Of Supply Chain Management
Part of our new “Quick Notes” series – this report answers your most pertinent questions of the topic.
- What are the five flows of SCM?
- Why are they important TO YOU?
- How can you map, track, and optimise these flows to serve YOU?
- What is the importance of difference between "Supply Chain" and "Value Chain"?
- What are the stellar case studies of each of the five flows?