Globalization- the Leadership Challenge - 2500 Words

GLOBALIZATION- THE LEADERSHIP CHALLENGE Globalization is not only inevitable, but also a blessing in disguise. It is something like, as Ronald Steel (1999) very aptly puts, You try to shut the door and it [the global economy] comes in through the window. You try to shut the window and it comes in on the cable. You cut the cable, it comes in on the internet. And its not only in the room with you. You eat it. It gets inside you. Globalization refers to a process of increasing economic integration and growing economic interdependence between countries in the world economy. In an article titled The globalization of markets, Levitt(1983) had predicted a new commercial reality- the emergence of markets on a previously unimagined scale of†¦show more content†¦The next challenge the global leaders will be facing in managing the company is to create the required energy. By energy we mean a culture of entrepreneurial energy that facilitates innovation, absorption and adoption. Literature(1983) witness that many technologically advanced companies that could make it to the Fortune 500 list in the last ten years do not exist anymore. Therefore, the challenge is not just to innovate but to 4 absorb the technology to the need and suitability of the environment. And the leaders must be in a position to take enormous risk and sail the boat through the rough waters smoothly to achieve the goal. Global business is becoming uncertain owing to blurring cultural, language, political, social and economic boundaries. The leaders should take up this challenge with a lynx eyed approach by encouraging continuous learning and thereby, modernizing the minds of the people- the led and the followers. In this context, to quote Jack Welch(2001), When the rate of change on the outside exceeds the rate of change on the inside, the end is in sight. Leaders today do not lack intelligence, but inquisitiveness. It helps them to increase their global savvy, enhance their ability to understand people and maintain integrity, and augment their capacity for dealing with uncertainty and managing tension. Challenge of integrity in the business context is another big issue that leaders of the global eraShow MoreRelatedEthical Leadership Challenges in the era of Globalization2367 Words   |  9 Pagesï » ¿Ethical leadership challenges in the era of globalization Introduction Ethical leadership is a phenomenon in the tongues of many, both in the political and business scene. This is a type of leadership that is desired by many because it is believed that it ensures equity, transparency and accountability. Ethical leadership is one that upholds the conventional and non-conventional ethics of the profession. 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