Post on 10-May-2015
description
Meet Your New Customers: The Implications of a Globalized Economy
Our Speakers
Dr. Neal R. Goodman President Global Dynamics Inc.
ngoodman@global-dynamics.com
www.global-dynamics.com
Jennifer Frazier Director, Enterprise & Education Solutions Rosetta Stone
jfrazier@rosettastone.com
www.rosettastone.com/business
What Are We Going to Do?
Identify the current global and domestic environment.
Engage in an exploration of the meaning
and benefits of a global-mindset, cultural intelligence,
and linguistic agility for you and your organization.
Have some fun.
The Future of Economic Growth
Percentage of growth expected
from developed and emerging
markets by 2030.
70% of world economic growth
over the next few years will come
from emerging markets.
Developed
Markets
Emerging
Markets
Source: Tracking Global Trends. Ernst & Young. 2011; Goldman Sachs Global Economics, Global Economics Paper No: 204, 2010
Domestic Emerging Market
Between 2010 and 2015, the buying power of minorities in the U.S.
will increase by more than $1 trillion.
Immigrants and their U.S. -born children will account for
of the country’s
population growth
over the next 40 years.
Source: Hispanic and Asian Buying Power Expected to Surge. UGA Selig Center. 2010; U.S. Population Projections: 2005 – 2050. Pew Research Center. 2008
Characteristics of a Global Mindset
Think Globally While Acting Locally
Leverage the Value of Cultural Diversity and Inclusion
Demonstrate Language Skills to Understand Clients
and Markets, and to Build Lasting Relationships
Build Trust-Based Multi-Cultural Partnerships
Foster a Corporate Culture of Global Innovation
Share Leadership and Empower Remote Workers
Source: Global Dynamics Inc©
Characteristics of a Global Mindset
Think Globally
While Acting Locally
Source: Global Dynamics Inc©
Characteristics of a Global Mindset
Leverage the Value
of Cultural Diversity
and Inclusion
Source: Global Dynamics Inc©
Characteristics of a Global Mindset
Demonstrate Language
Skills to Understand Clients
and Markets, and to Build
Lasting Relationships
Source: Global Dynamics Inc©
Characteristics of a Global Mindset
Build Trust-Based
Multi-Cultural
Partnerships
Source: Global Dynamics Inc©
Characteristics of a Global Mindset
Foster a Corporate
Culture of Global
Innovation
Source: Global Dynamics Inc©
Characteristics of a Global Mindset
Share Leadership
and Empower
Remote Workers
Source: Global Dynamics Inc©
Cultural Intelligence - What is Culture?
Attitudes, beliefs,
traditions and values
shared by members of
a social group
Influences perceptions
and behaviors
Culture ≠ instinct;
culture is learned
Water to fish
Source: Global Dynamics Inc©
Your Cultural Programming
Which
Direction?
Cultural Intelligence
The Key to Global Success
“Cultural Intelligence: Understanding how
to leverage the diverse rules of the game
– of life and business – found around the
world for competitive advantage.”
Neal Goodman, Ph.D. President Global Dynamics, Inc.
The DIE Model to Promote Cultural Intelligence
ESCRIBE
Meaning: A description of what the person is doing or saying, etc. Neutral. Example: She doesn’t make eye contact with me.
NTERPRET
Meaning: Why you think the person is doing what he or she does. Ascribed motivation. Example: She is not interested in me.
VALUATION
Meaning: The opinion that is formed as a result of the interpretation. Is it good or bad? Example: She is rude.
Source: Global Dynamics Inc©
Developing a Cross-Cultural Framework
Cultures consist of behavioral patterns
that can be identified and measured.
These patterns form a framework
for analyzing cultures.
You can use the framework to your
competitive advantage to promote
trust and predict how people will
respond to situations.
Source: Global Dynamics Inc©
The GDI Cultural Tendencies Framework & Diagnostic Tool
Source: Global Dynamics Inc©
Sample 2 of 14
Equality (everyone treated the same)
Risk Taking (quick decisions, less information)
Hierarchy (position in society defined
according to rank/status)
Low Risk Tolerance (need much more information
before making decisions)
The GDI Cultural Tendencies Framework & Diagnostic Tool
EGALITARIAN HIERARCHICAL
Source: Global Dynamics Inc©
Top-down information flow
Promotes micromanagement
Titles, degrees and age are to be respected
The senior person speaks; others listen
Communications to peers or subordinates
Paternalistic leadership
Promotes empowerment
Titles , degrees and age are less important than demonstrated ability
All team members speak up
Communications across levels
Servant leader
Collaboration
The Power of Language
of executives say they plan to grow their
businesses in countries or market segments
that speak a different language than the
one they currently use.
Globally, of consumers are
more likely to buy a product with
information in their own language.
Source: Rosetta Stone Language Means Business. Booz & Company. 2013; Can't Read, Won't Buy: Why Language Matters on Global Websites. Common Sense
Advisory. 2006
The Gap
of 572 senior executives
surveyed think differences in
language and culture have
made it difficult to gain a
foothold in foreign markets.
of executives surveyed
believe their global network of
employees communicates
effectively in different
languages.
of executives rate their
colleagues' ability to
communicate internationally
as average or below.
Only
Source: Rosetta Stone Language Means Business. Booz & Company. 2013; Competing Across Borders: How Cultural and Communication Barriers Affect Business.
Economist Intelligence Unit. 2012
What if it Were Improved?
If their company's cross border
communications improved:
of executives believe
that profits would
improve.
of executives believe
that revenue would
improve.
of executives believe
that market share
would improve.
Source: Competing Across Borders: How Cultural and Communication Barriers Affect Business. Economist Intelligence Unit. 2012
Communicating Across Cultures
My Reality Receiver’s Reality
Message
Received
Message Sent
Source: Global Dynamics Inc©
Strengthening Communications: Case Studies
A Spanish speaking patient is rushed into the emergency room in Chicago barely conscious. She had mistakenly taken a major overdose by following the instructions which said to take the medication “once a day.”
What happened?
Applying Global Mindset, Cultural Intelligence
and Linguistic Agility to Recruit, Retain and Promote a Diverse Workforce
Identify and attract a superior,
diverse workforce.
Develop and retain a ‘global’
talent pool.
Create an environment that encourages
cultural understanding and inclusion.
Source: Global Dynamics Inc©
Applying What We Learned
How will you leverage the value of a global mindset, cultural
intelligence, and linguistic agility to succeed in the global and
multicultural workplace and marketplace?
YOUR TIME HAS COME!!!!
Key Components of a Solution
Single
Enterprise
Solution
Learning
Development
Plans
Robust List
of Languages
Asynchronous
Study
Mobile Device
Access
Robust
Administrative
Tool
Successful
Solution
The Impact of Language Training
Internal
Communication
Global
Mobility
Employer
of Choice
Customer
Service
Internal Communication
Language
Diversity Productivity
Workplace
Safety
Internal Communication - an Example
Improved communication
across global markets.
Enabled “on-the-go” learning.
ROI exceeded 75%.
Global Mobility
Meet
Region
Requirements
Expat
Preparation
Grow
Opportunities
Global Mobility - an Example
Meet regional business
requirements.
Build critical language skills
for long-term relocations.
ROI exceeded 20%.
Employer of Choice
Critical
Skills
Culture of
Excellence
Employee
Engagement
Employer of Choice - an Example
Enhanced training and
development.
Improved employee
satisfaction.
Improved customer
satisfaction and growth in
referrals.
Customer Service
Confidence
to Speak
Customer
Centric
Boost
Satisfaction
Customer Service - an Example
Enhanced communication.
Improved customer experience.
Growth in revenue.
Questions
Dr. Neal R. Goodman President Global Dynamics Inc.
ngoodman@global-dynamics.com
www.global-dynamics.com
305.682.7883
Jennifer Frazier Director, Enterprise & Education Solutions Rosetta Stone
jfrazier@rosettastone.com
www.rosettastone.com/business