Thursday, October 4, 2007

A Global Mindset creates business opportunites

A comment by Dr. Cindy Corritore at Creighton University, relative to "Global Mindset", suggests a link between having a global mindset with the ability to innovate as a global entrepreneur. In the United States, the manufacturing sector is hard put to compete with other international competition. It costs us too much. This means that in order to be competitive in global markets we have to figure out new areas to be creative and to innovate. Entrepreneurs in India have this well figured out and they profit by providing low cost manufacturing and service centers. In order to do this they had to be thinking “globally”, they were aware of what was going on in our world. Their mindset was that of a “global entrepreneur”

The Japanese had already showed us how to make money by fine-tuning and improving products that they did not invent. I recently read an idea on how to make lots of money, not by launching a brand-new product or service but rather by adapting and improving a service or process that already exists.

An example is a company in Utah called “” They jumped on the “livestrong” wristband craze started by Tour de France winner Lance Armstrong. Prior to their innovation, the silicone wristband industry was driven by bulk orders of 10,000 or more bands which took weeks to manufacture and ship. Reminderband saw a niche in the custom wristband market that they could exploit if they could develop a way to cost effectively produce low quantities of custom silicone wristbands. Thanks to their ability to think globally, through their contacts they located a factory in Hong Kong to produce custom bands at a much lower cost. The company has prospered and is now known for delivering an excellent custom-made product to the customer’s doorstep in just days. Customers can order as few as 10 bands and have them in a matter of days. This is a good example of how the ability to think globally produces profits and keeps American companies in business.

Keogh & Associates Consulting , LLC has many services to help your company compete by developing a global mindset.

Monday, October 1, 2007

A Global Mindset needs "Global" words

My title may be a little misleading - but not by much. In order to convey our ideas in the global workplace, we need to be able to communicate in more than one language. Have you noticed the Google translation buttons to the right of the column on this blog, with my posts (just below my goofy photograph? If you cut and paste a few sentences from a post, the electronic translator will - most times - deliver an instantaneous and fairly acceptable translation! Of course you can use these translators to read and to publish your comments on foreign language web-sites and blogs.

If you are at all like me, you will often run in to technical business words that you may find difficult to translate to other languages because they are often not found in commercial dictionaries. The Human Resources profession uses many such technical terms. I've just discovered a pretty neat web site, the "first European Human Resources lexicon". It is hosted by ADP a leading provider of Human Resources outsourcing in Europe. I think you will find it very useful when you manage terms like "return on investment", "human resources policy" or "relocation allowance" . If you check my web-site on services and keynote presentations related to human capital, you'll see that I write in English and Spanish on topics related to cross-cultural training, multicultural teams and emotional intelligence. The human resources lexicon provided by ADP should make my task easier and hopefully do a better job of translating technical terms on the Spanish language version of our site.