In the age of globalization it is becoming important every day to describe the rational of your organization and its objective. Defining a clear cut business model is the first step towards drafting a business strategy. The global marketplace is changing and so it’s essential for us to analyze our business models and change it according to the market trend.
Rapid technological changes, a dynamic marketplace, challenging customers, increasing global competition, and pressure from investors are just a few factors that govern the current world economy. Global financial markets and an open trading system require organizations to deliver and serve their clients more quickly in efficiency, profitability, cost effective pricing, quality, and innovation.
The key is not just to focus on saving costs but to deliver standardize and end-to-end services to your clients. Adding value is the second most important factors for business growth and sustainability. Positioning a global business model means development of a globally unified environment, optimizing skills globally to create an assortment of business and skills to better strive, and better serve the growing needs of customers worldwide.
Flexibility in workforce is the third most important measure that needs to be considered. Being able to position the best talent and most suitable resources wherever they are required, is the key. Ongoing economic instability means businesses must abide growing and contracting faster than before, organically and through mergers and acquisitions. Hence a multi-functional shared service provides much-needed flexibility to be able sustain in the current global market place.
Last but not the least technological innovation is by far the most essential part of a global business model. Businesses that envision a global presence should never stop innovating and offering value through technology. Digitization is just one of the few examples of global innovation.
Most importantly, expect the unexpected and adapt flexibility!