Tag Archives: globalisation

China and Innovation – Now Overtaking Japan

It’s not that long ago that a colleague told me that innovation would come out of China two generations hence. I did not believe him after seeing a little of what China was doing first hand.

Interesting to read this article today in the Start Advertiser:

As a result, China is expected to overtake Japan soon as the world’s second-largest R&D investor, although it still remains far behind the U.S. China’s domestic doctorate awards in science and engineering have also increased more than tenfold since the early 1990s, and its share of the global pool of researchers has grown from less than 14 percent in 2002 to more than 20 percent today. 

Only a few years ago, China’s approach to innovation hardly played a role in international economic diplomacy. Today, it is a hot topic in U.S.-China economic relations, adding further to contentious disputes about exchange rates, trade and foreign direct investment.

The article continues:

Rather than fearing China, we need to focus our research and policy debates constructively on how this relationship can be improved.

I could not agree more. The entire article can be found here.

And now this in the Harvard Business Review Blog on August 4 for another perspective.

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How do we address culture in a Globalized World?

I thought this was an interesting perspective on globalisation
http://www.fastcompany.com/1689868/bridging-across-cultures-or-developing-a-global-culture-which-way-is-the-business-world-head

Points of relevance are:

  • In a globalised world, culture is usually ignored
  • Rather than flattening culture in a flat world, we should be embracing and harnessing differences.
  • We are not good at working across different cultures
  • Are we addressing the following issues in a globalized world?: individual versus collective orientation, patterns of activity, work habits, dress, language, gender roles, hierarchy, view of time, communication practices, tastes

We have the opportunity to harness cultural differences as we globalize, but I do not believe we are successful at doing so. Large corporates, with centralized practices such as HR, finance, etc, tend to continue to roll out the western culture machine irrespective of location – China, India, etc. The local satellites struggle to integrate  western practices locally – those employees who fail are deemed to be not resilient enough in a global economy.

The opportunity is to harness the differences in culture, embrace and capitalize on them, not flatten them with the western steamroller.

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You must watch Hans Rosling!

If you have fifteen minutes, please watch this video. Even if you don’t, you need to watch it anyway. Make the time!

Not only is it an eye opener about the rise and rise of India and China as economies, Hans’ presentation is unbelievably stimulating. Forget the tie and suit PowerPoint presentation – I wish every talk I went to (and gave) was just like this one.

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The Next Generation is unprepared for Globalization

Today’s university students are extremely concerned with issues of globalization and sustainability, but only four out of 10 believe their education has prepared them to address these issues, according to a new IBM study designed to gauge the attitudes and opinions of the next-generation global workforce and business leaders.

This survey — which asked university students the same questions posed to global business leaders in IBM’s 2010 Global CEO Study — finds that both students and CEOs believe creativity is the most important emerging competency of future leaders; and reveals clear confidence about the ability of information technologies to address looming issues in business or society.

Conducted through IBM’s Institute for Business Value, the Study, “Inheriting a Complex World: Future Leaders Envision Sharing the Planet,” reflects the consolidated view of more than 3,600 students in more than 40 countries.

The study reveals a discerning and decidedly optimistic new ethos — based on an integrated view of globalization, sustainability and belief in technology as a path to solutions to emerging and existing problems. Almost 50 percent of students said that organizations should optimize their operations by globalizing, rather than localizing, to meet their strategic objectives.

At the same time, these students describe a gap in this generation’s training to cope with issues that will arise in an increasingly interconnected and complex world, but a strong belief that information technologies can bridge the gap.

Within four years, this “Millennial generation” will make up half of the global workforce. Despite the economic environment and the challenges students may face entering the current job market, the findings from this study were characterized by an unmistakably optimistic outlook about what’s ahead – and their capacity to affect change in the world they will inherit.

Students surveyed indicated that they will lean more heavily on data analysis — over gut instinct or existing “best practices” — to reach their strategic and operational goals as business leaders in their own right. And as fact-based decisions begin to prevail, they may need to pioneer an entirely new management style — one that continually enriches personal experience and education with new sources of insight based on a new ability deal with the explosion of real-time information.

The study revealed broad-based confidence that increased access to information, analysis, and the resulting insight can reduce uncertainty about the future.

Clearly, the students’ experience regarding globalization is different.  Growing up more connected globally, students see the shocks and threats, but are more prone to view globalization as an opportunity to solve increasingly global problems. They are strongly committed to a global view of shared responsibility for both environmental issues and societal prosperity.

Given students’ concerns about globalization and sustainability, the Study found a gap in educational experiences, as well as business expectations. Asked how well their education has prepared them in a number of areas, only four out of 10 students believe their education has prepared them well to address these issues.

In China, 76 percent of students value global thinking as a top leadership quality, more than students anywhere else. Yet, only 38 percent of students in China believe their education has prepared them for global citizenship, which is lower than students in any other region.

Only 17 percent of students in Japan, less than any other region, believe their education has prepared them well to benefit from the growth of emerging markets.

Understanding these and other sharp differences emerging by geography is increasingly important as economies and societies become more closely linked. Students will confront these differences as they increasingly become the future leaders of business and organizations.

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Five forces reshaping the global economy – from McKinsey

The core drivers of globalization are alive and well, but executives are still grappling with how to seize the opportunities of an interlinked world economy.

In this sixth annual survey asking executives about the forces shaping the world economy, there is little change in how respondents view the importance of global trends compared with previous years—either for business in general or for their own companies’ profits. Clearly, the financial crisis and economic downturn have not shaken these key trends. Continued faith in the positive effects of globalization combined with a move away from short-term planning likely reflects rebounding optimism about global economic prospects and is consistent with the findings of other McKinsey surveys on the economy.

Read the complete report.

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