As we consider what makes a good Global Leader, we should certainly acknowledge that such a role is no walk in the park! We have previously mentioned uncertainties and risk, but what are other upcoming challenges that we, too, should prepare for as we enter the world as leaders ourselves?
Therefore, I'd like to ask you: Are You Being Fresh?
With the constant changes and inevitable obsolescence of technology, companies and leaders are forced to stay relevant with not only products, but also marketing campaigns and customer interaction. It is obviously imperative that companies stay ahead in the competitive environment (which is now on a global scale). Moreover, a greater challenge may be engaging and retaining consumers who are flooded with options and stronger bargaining power.
Firms' competitive edge must constantly evolve and stay current, whether through superior product development, innovation, customer service or simply campaigns that keep them top-of-mind over the competition. In essence, differentiation, but how will they stay (or become) fresh? Now, consider what a challenge that poses in the global landscape. For instance, companies may have to more narrowly define their market, or consider shifting from a niche to mainstream to stay profitable. As you can imagine, there are strong implications to either path on profitability and brand image.
What do you think?
This is but one of the challenges Global Leaders, but I would love to hear yours! Leave some comments on the hurdles that you see awaiting Leaders and possible solutions!
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