From increased revenue and a competitive advantage, to decreased costs and access to talent pools, there are numerous advantages to international expansion. However, business leaders must be careful not to jump the gun on global growth. Opening operations in a new country without being fully prepared could quickly take funds away from the bottom line. Gregory J. Newell, chairman of the International Commerce Development Corporation (ICDC), advises, “we have to look at the pro

Everyone is looking for the next big thing. For many organizations, international expansion may be the path to finding it. It doesn’t matter the industry of operation or the size of the company, organizations across the globe are looking to grow. While some trends follow consumer preferences and fade with changing desires, international expansion has proven it’s here to stay. U.S. multinational corporations alone have employed tens of millions of people for decades. Gregory J

Conflict is good for an organization. Although the word is often associated with an altercation, conflict encompasses any disagreement—which is not necessarily bad. Conflict naturally results when people have different needs, opinions, or perspectives. Successful global leaders actively foster a culture that celebrates diversity of thought and experience, encourages the civil exchange of ideas, and embraces differences of opinion. In short, they foster a culture of conflict.

Business moves fast. Organizations must work as fast or faster than their competitors in order to stay competitive in any given industry. This means that every team within an organization must be nimble and responsive—with little room for poor performance. Mike Gillespie, founder and CEO of BlueEQ believes psychological safety is the key to high performance and innovation. What is psychological safety? According to Gillespie, it is “a shared belief that it’s safe to discuss i

IIE Open Doors report that the number of students doing international internships increased nearly 75% over the five years from 2014 to 2019. Although other areas of international student experiences have also seen consistent growth, none appear to parallel that of internships.As the number of multinational corporations continues to grow, more and more employers are looking to hire individuals interested in having an international work experience. And students have started to

Dave Hanley, CEO of Tomorrow, is leaving his mark on a global scale. His work in global activism earned Hanley a seat as a young global leader attendee of the World Economic Forum. This forum is an annual meeting founded on the idea that there are problems too big for governments, businesses, or multilateral organizations—such as the United Nations—to solve on their own. The forum connects young leaders to successful CEOs, Head of States, and other prominent individuals and a

Rivers, lakes, crevasses, and other geographical gaps exist in terrain requiring bridges to transport people, goods, and resources across distances that otherwise may be impossible to navigate. Similarly, a physical and mental gap exists between individuals facing global issues first-hand and their counterparts who are farther away with the necessary resources. Such detachment particularly occurs when issues arise in an area at a different socioeconomic level than the one in

“Is this worth it?” Many individuals ask this question as they weigh various investments of their time, money, and energy. One such investment is that of an international study program. Whether students are going abroad for one semester, or for their entire education, many questions and uncertainties may cross their minds. Some of which include whether or not they will be able to communicate with those of a different language, whether or not they will gain the rich learning e

An international business experience can take a variety of forms. In some cases, companies are well set up to guide employees through the transition. In other instances, individuals have to figure out logistics, such as work authorization and housing, on their own. Arranging all the pieces can be a lot to manage. And then there’s the role itself. What does it take to be successful? Mike Hoer has spent over 30 years living in and working in Asia, Africa, and Europe. In doing s

The COVID-19 pandemic and resulting public health initiatives gave organizations across the globe an ultimatum: operate remotely, or not at all. Local markets and the global economy felt the impact as businesses struggled to stay afloat amidst restrictions on in-person activities. In the wake of these circumstances, one thing became abundantly clear: the global workforce is capable of communicating at unprecedented levels. With professionals and their organizations aware of t

Every year, a fresh class of graduates enters the workforce. Early career decisions can profoundly impact long-term career outcomes. Ambitious graduates are often found weighing the pros and cons of various industries, roles, and companies. Some considerations include the type of work experience that can be gained, possible career trajectory, and income potential. All of the dimensions can be a lot to consider, especially when factored in with personal decisions, which may in

Profitability and productivity—two metrics that matter. As the global business and employment environment becomes increasingly competitive, it is essential that companies find ways to set their workforce apart. Organizations want to be productive, profitable, and innovative—but vague, ill-defined ideals are difficult to achieve when those executing them do not understand the specific roles they play and steps to take. The best way to ensure that companies and their employees

Blackberry dominated the smartphone market in the mid-to-late 2000s. With a 50 percent market share in the United States, and 20 percent globally, prospects looked good for the Canadian based company. Many even nicknamed their product the “crackberry” because of its massive consumer demand. But their good fortune didn’t last; Blackberry’s total market share today sits at 0 percent. The cause for Blackberry’s fall? The smartphone industry changed, and the company didn’t change

In the 1950s, three U.S. car brands – Ford, GM, and Chrysler – dominated the automobile market, capturing over 80 percent of U.S. demand. But just a few decades later, those three brands accounted for under 50 percent. Why such a drop? Toyota. Toyota had a vision of dominating the car market in the United States and then worldwide. Their strategy? Watch and learn from the best, then do it better. After making their first sales in the U.S., Toyota realized they couldn’t compet

When people think of Mickey Mouse, they commonly think of Walt Disney. But creating the well-known character was actually a team effort. In the early 1900s, a different character—Oswald the Lucky Rabbit—represented Disney Brothers Cartoon Studio. Though created by Disney, Oswald was owned by Universal. Wanting to sever ties with the other studio, Walt Disney assembled a team of animators and composers to create a new character to be the face of Disney Brothers Cartoon Studio.

On the Windows 95 operating system, Microsoft chose to color 800,000 pixels a slightly different shade of green which, unknown to Microsoft, represented disputed Kashmiri territory in India. The different color was interpreted in India as meaning that the territory was not part of their country. The product was promptly banned by the nation and 200,000 copies of the system were returned. Had the team at Microsoft taken more time to understand culture, the losses – both moneta

Indira Nooyi was the first female CEO of Pepsico. In her first five years in that position, Nooyi successfully led the company through the great recession of 2008 and pushed the company to nearly double its worldwide revenues – from $35 billion in 2006 to $65 billion in 2011. Nooyi is said to “have led a financial recovery for Pepsico” by focusing on environmental sustainability initiatives, increasing company globalization, and shifting product portfolios. According to Nooyi

Statista labels Best Buy as “the world’s largest multi-channel consumer electronics retailer.” But in 2012, their performance was described as “unsatisfactory in a number of areas.” And with many investors worried that Best Buy would fail to compete with Amazon, their stock price dropped more than 50% from February to December. That same year, Hubert Joly was appointed CEO. With a strong strategic vision, Joly quickly introduced a five-step strategy to bring Best Buy back to

Hershey is more than a name stamped on chocolate bars around the world—it is the name of a man who demonstrated extraordinary resilience in the face of failure. Milton Hershey, founder of The Hershey Company, grew up watching his father fall short in numerous business endeavors. Milton faced many challenges of his own as he sought to enter the confectionery world. These included the breakdown of his first solo venture, a short-lived candy shop partnership with his father, and

Luke Mocke, founder of Mentorli, shares his insights about how to find the right mentor for any job. Being born in South Africa in 1991, the year Apartheid ended, Mocke understands what it means to work to bring people together. Through his university experience, he was able to find great mentors to help him in his educational journey and in finding a job. He founded Mentorli as a way to give back by helping students, young professionals, and anyone seeking a new job to conne