If you are a business student, you’ve probably heard the term “global mindset” multiple times before. I can’t stress how many times I’ve heard this during my undergraduate and graduate program for economics, but I can’t also stress how important this mindset is when working for a company with a global mindset.
Global mindset is being both open and aware of diversity across cultures and markets with propensity and ability to see trend across countries and markets. It is the ability to take in the norms from other countries and to conceptualize how to make an impact in all environment. It stresses three attributes that you must utilize, which are, intellectual, psychological, and social.
This is an important mindset for business students because these cultural and geographic diversity are opportunities to exploit. It is where one can adopt practices and attain ideas. It may even globalize issues companies face today. Therefore, cultivating a global mindset is a must before becoming a part of a global company, such as GE, Toyota, Samsung, Nestle, or Dell.
One of the biggest example I can use for global mindset is the military. The strategic importance of this global mindset for the organization is highly prioritized. Since the organization of US military is highly global when it comes to its environment, it needs highly specialized and closely networked groups of global business leaders. This way multiple leaders (different branches, different military from different countries, self-defense force, etc.) from different environment can network across the organization globally.
This way, the organization doesn’t just depend on one leader’s (commander in chief/the president) ability to think globally. Instead it relies on network of global mindset leaders across all countries and levels to take advantage of all the global opportunities, such as NATO.
I believe that the main benefits we get from global mindset is being able to identify emerging opportunities, recognizing tradeoffs between local and global level, adapting rapid and efficient sharing of practices across subsidiaries, producing new product concepts and technologies, and better coordination of complementary activities across borders.
The actions students can take right now while attending school to further develop global mindset are limitless. Most universities now have foreign exchange students that you can work on projects with as well as study abroad programs. There are internships as well as work abroad programs that you can apply for to experience different environments. Best of all, you can always read research paper written by people from all over the world.