Question

The changing world of the 21st century has created the need for defining and developing a new breed of internationally capable manager’s?

Answer 1

Yes, this statement is indeed true. With the growth of technology and as a result new kinds of businesses and business models, globalization has ensured that all kind of goods and services can be provided in any part of the world from anywhere in the world. Because of this, there has also come a challenge for the existing businesses regarding their future. For e.g. think of a taxi-company a decade ago. Their business was to buy taxis and hire drivers for those taxis so that people can go from one point to another within a city. With the advent of internet and apps like Uber, their whole business has become irrelevant because now the drivers have themselves become entrepreneurs. They work according to their will and are paid sometimes even more than what they used to get earlier. Hence, we see that if we develop inertia in our policies and outlook towards the environment, our business can come at risk. There are also other examples like Kodak, etc. And, the need to develop internationally capabler managers is not just because of new innovations. It is also because of factors like economies of scale. It might be that if we source our raw materials from countries like China and India, we might get them at very low prices and enhance productivity. If we don't do it, our competitor will and then we will lose business. Hence, it is very important to develop an international outlook and utilize such opportunities.