
- Start Date
- Duration
- Format
- Language
- 7 Jun 2023
- 4,5 days
- Class
- Italian
Going global is an art.Ā And to do it you need innovationĀ (notĀ just inĀ products or processes, but mindsetĀ too),Ā an entrepreneurial spirit and the right decision-making tools to move beyond your local arena and establish yourself abroad.Ā The art of Going Global. AĀ Practical Guide to a Firmās International GrowthĀ by Olga E. Annushkina and AlbertoĀ RegazzoĀ is a compass that willĀ help you find your directionĀ in theĀ complexĀ and increasingly competitive global market. The book, published by Palgrave Macmillan, is a concise, constructive guide for managers and entrepreneurs who are ready to globalize their business. TheĀ aimĀ is to help them in their decision-making routines without the false pretext of revealing any special āsecrets to success.ā In addition to advice on how to set up your internationalization project, theĀ bookĀ offers ideas on how to create and adapt every strategy, even in the face of uncertainty, how to organize your office and get peopleĀ engagedĀ in the decision-making process, and how to choose the most attractive markets for your products and services.Ā Ā
We reached out to the authors and asked them to tell us more about their latest book.Ā
Ā
Is itĀ appropriateĀ to talk about globalization today, in a context ofĀ enormousĀ uncertaintyĀ brought about byĀ the Covid-19 pandemic?Ā
In 2020,Ā the pandemic has forced countries to close their borders, stopping or slowing international flowsĀ of all kinds. But after this slowdown, we expect the globalization trend to continue, albeit with a different configurationĀ thanĀ before. This ānew globalizationā will be stronglyĀ shapedĀ by local and international legislation that will establish new rules covering everything from technological security to local economic incentives.Ā All thisĀ could potentially trigger seriousĀ imbalancesĀ in various sectors. InĀ this kind of environment, managerial decisions are more and more driven by concerns aboutĀ publicĀ health and safety,Ā with reflectionsĀ on risks factored into every decision,Ā for both people and companies alike. The desire to reduce risk and the complexity of business networks could lead to reshoring operations and regionalizingĀ international flows.Ā Ā
CompetitiveĀ arenasĀ will become more complex, companies withĀ greaterĀ resources will have an edge over weaker ones, with the riskĀ thatĀ oligopolisticĀ market structures will arise. Companies and entrepreneurs that work in theĀ industriesĀ hardest hit by the pandemic will look for innovativeĀ solutions, and the decisionsĀ they makeĀ willĀ intensifyĀ domestic competition.Ā
To grow a business, internationalization willĀ continue to beĀ one of the major levers, often a spontaneous one.Ā
Ā
Donāt you think that itāsĀ stillĀ risky to expose your company to global events?Ā
During this pandemic itās risky to do business on the domestic market too. For companies that work locallyĀ orĀ internationally, the key isĀ carefullyĀ managing cash flows. The markets will emerge from the pandemicĀ by makingĀ very differentĀ economicĀ comebacks at very different speeds. Staying ahead of your competitors when the recovery starts is crucial to reap theĀ rewards.Ā
Ā
In the introduction, the book isĀ referred to asĀ a ātool,ā but in the subtitle itāsĀ calledĀ a āpractical guide.ā In what way is your book a useful tool forĀ companies that want to go global?Ā Ā Ā
Our book helps managers and entrepreneurs to establish and implement internationalization strategy. WeĀ suggestĀ breaking down this strategy into eight decisionalĀ areas: setting company targets, raising awareness of the company mentality for international growth,Ā facingĀ the adaptation/standardizationĀ dilemma, prioritizing foreign markets,Ā identifyingĀ entryĀ modesĀ for foreign markets (using contracts vs investment capital), becoming aware of prejudice that can influence the formulation of an internationalization strategy,Ā determiningĀ the organizational structure and personnel. For each of these areas, we propose different strategic options toĀ think about, and we discuss the factors to considerĀ in applying these factors,Ā specific to eachĀ specificĀ type of company.Ā The book doesnāt offer recipes or reassuring best practices to study and imitate,Ā because we are totally convincedĀ that aĀ sustainableĀ strategyĀ for successĀ isĀ contingent onĀ aĀ companyāsĀ uniqueness.Ā
Ā
In the book you also talk about the barriers to internationalization for Italian companies. What are the main limitations in this sense, and how can companies overcome them?Ā
In the text, we first list all the advantagesĀ thatĀ Italian companiesĀ enjoyĀ on global markets: entrepreneurialĀ expertise,Ā even in medium-largeĀ sizedĀ companies;Ā a solidĀ reputation in manyĀ industries;Ā theĀ capacity ofĀ Italian managers and entrepreneursĀ to workĀ in multicultural contexts;Ā experience andĀ theĀ ability to build business networks. Keeping these competitive advantages in mind and beginning with the eight decision-making areas, we address the potential obstacles to growth one by one. Letās take the example of setting targets. Companies thatĀ donātĀ set targets to hit in one, two, or three years will never make a decision on positioningĀ resourcesĀ in growth areas.Ā ThisĀ defeatistĀ attitudeĀ is their downfall:Ā āWeāll beĀ lucky if next yearĀ isĀ more or less like this one.ā FormalizingĀ theĀ decision to grow internationally is the first step to take. Whatās more, when companies donāt adapt their products and services to uniqueĀ cultural, economic, technological and digitalĀ characteristics of target countries, theyĀ loseĀ manyĀ growth opportunities.Ā If youāre channeling your efforts into aĀ certainĀ target countryĀ following aĀ āletās go where they call usā approach, youāre not analyzing whether or not yourĀ corporate, human, and financial resources are really suited to that context.Ā
Ā
OneĀ chapterĀ is dedicated to empathy and ethical aspects of adopting to global markets. Why are these two elements so important?Ā
In building relationships with customers, partners, and international suppliers, three elements areĀ indispensable: knowledge ofĀ external markets, curiosity and willingness to learn and take risks,Ā and theĀ abilityĀ toĀ buildĀ trust. In the second chapter of the book, we talk about personal empathy and organizational empathy, both necessary to start (or restart) the process of internationalization.Ā More importantly, empathy helpsĀ avoid one of the typical problems that companies face on foreign markets: path dependency ā that is, theĀ tendencyĀ to replicate business models that have success on the domestic marketĀ in an international contextĀ too, without consideringĀ unique features ofĀ localĀ markets orĀ the need for adaptation.Ā
We intentionally talked about ethics at the beginning of our book, a topic thatās normally put at the end of corporate strategy manuals, with a guilt-ridden ālast but not least.ā Weāre convinced thatĀ byĀ defining and implementing values and corporate rules,Ā withĀ top management setting a good exampleĀ too, companiesĀ canĀ anticipate possible ethical problems that could emerge during the process of internationalization. ByĀ applyingĀ values and ethical principles, companies can protect their reputations and create a system of human resource management that is fair,Ā andĀ has the potential to attractĀ talent. To inspire our readers, we also talk about āmanagerialĀ artisanship,ā an attitude that does not allow manipulation or cynicismĀ directed atĀ customers,Ā and enablesĀ companies to activate and mobilize their talent, especially in tough times.Ā
Ā
Il corso fornisce principi, metodologie e strumenti in grado di coprire gli ambiti più rilevanti e attuali in un contesto in continuo sviluppo quale, appunto, quello del Branding.