BC 607: Leading from a Global Perspective

Overview

The last decade will be recorded in economic history as the initial stage of Internet-driven globalization. However, it should be noted that this is not the first globalization wave. Previous technological breakthroughs, for example the increase of railway systems in the late 19th century, also rapidly expanded the scope and scale of businesses. This being said, information technology, together with low trade barriers, partially globalized regulatory environments, and free flow of capital, are triggering perhaps more profound changes in the business environment than anything experienced before. Large and even medium-sized corporations that were prepared for this new world have realized unprecedented gains. The economic advances made by China, India, Brazil, as well as the recent re-emergence of Russia and the unification of the European Union (EU), are only the most obvious macro-economic phenomena gradually changing the business environment for every single business operation.

In the last decade, China became the "world's manufacturer" and it currently has, by far, the largest reserves of US currency. The EU is the single largest market, India is home to a significant pool of engineers and computer experts, and Africa has made some initial steps toward a more stable business environment. Ten years ago, none of this existed.

Although globalization started as an economic process enabled by information technology, it is now a complex catalyst of profound societal changes. Naturally, globalization can be a worrisome process. In the richest countries of the world, the average worker is concerned mainly with the disappearance of local flavors and products and that globalization has not translated into bigger paychecks. These concerns have been broadly acknowledged recently by political and business leaders world-wide, including the FED chairman, the US President, and the German and Japanese prime ministers. If the rapidly growing disparity of incomes between the richest individuals and the "others" are not resolved soon, "our" globalization will turn into a failure.

For a business operation, there are essentially two ways to achieve business success in the complex, dynamical, interconnected, changing-at-warp-speed world of the 21st century. You can invest your time in studying the unique characteristics of each context on an "as needed" basis. Alternatively, you can create an expanded and useful viewpoint as an inclusive frame of reference that enables you to make sense of the dynamic complexity of the socio-economic, political, legal, cultural, historical and environmental context.

Learning Outcomes

Upon successful completion of this course, students will be able to:

• Adopt and demonstrate in practice the perspectives of global citizenship, especially as a member of a business organization.
• Apply critical, systemic, and creative thinking in the identification, evaluation and resolution of problems, issues, and challenges confronting enterprises operating in the global marketplace.
• Communicate effectively and persuasively both orally and in written form, in a variety of multi-cultural contexts.
• Access, analyze, synthesize, and share information pertinent to the conduct of global business utilizing state-of-the-art technology.
• Demonstrate mastery of the theories, skills, and competencies mandated by the rapidly globalizing business environment.
• Identify and evaluate effectively to the socio-economic, political, cultural, technological and, legal and competitive forces currently pushing firms and industries to become global.

Required Texts
BC 607 texts are available from the JIU/MBS bookstore