With the world’s economy becoming increasingly global, professionals who are well versed in strategic global business management are always in demand. Aspiring business leaders from all over the world must move from being specialists to generalists, from analysing data to executing data-driven strategies. Essential steps need to be taken by them to transform themselves from bricklayers into organisational architects who can engage with multiple stakeholders. This is where general business management competencies come into play. As businesses are becoming more volatile and the market more uncertain and interconnected, globally acceptable general management capabilities are the need of the hour.
Why Generalists Thrive in Leadership Roles
Within the Industry 4.0 context, global Business Management comprises all the activities involved in the functioning of an organisation. Companies need business management professionals who can build and sustain a successful business in a VUCA (Volatile, Uncertain, Complex and Ambiguous) world. A general business manager understands the bigger picture, develops ideas and solutions that benefit the business, and thinks out of the box at the right time. It’s no surprise that the 2019 PPM benchmark study found that project managers predominantly see themselves as generalists (54%). Furthermore, Harvard Business Review found that 90% of the 17,000 CEOs they studied had general management experience.
General Business Management Skills in Industry 4.0
A global Business Manager must have cross-functional competencies and be aware of the management skills required across all business functions like marketing, finance, sales operations, human resources, etc., to be able to successfully lead their organisation. They should be able to moderate the influence each functional department imposes on an organisation and foster a culture of cross-functional cooperation. Business managers must exercise a strong command over concepts like – Cross-cultural Communication, Competitive Strategies, Global Strategic Management, International Trade & Laws, Market Structures and more.
Upskilling Through Executive Education
A professional qualification in Global General Business Management provides a holistic understanding of the management functions needed to leverage global market opportunities and address organisational challenges. While many of India’s B-Schools have started offering executive management programs, IIM Indore’s Executive Programme in Global Business Management (EPGBM) stands apart due to its myriad offerings and long-term global career benefits. The IIM Indore and TimesTSW global business management program provides learners with practical insights into globally applicable techniques and methods for managing any global business. Through an immersive pedagogy and industry-oriented curriculum, the course helps candidates develop a well-rounded skill set that is essential for the functioning of any global business. The dynamic IIM global business management program covers advanced concepts like effective entry strategies, organisation behaviour & design, international HRM strategy, Mergers & Acquisitions, strategies for globalising business models, consumer behaviour, global product strategies, cross-cultural communication, supply chain strategy, and more.
As organisations around the world try to keep up with the fast-changing business environment, strong management competencies can provide the much-needed competitive edge.
To know more: https://timestsw.com/course/iim-indore-executive-programme-in-global-business-management/