Anyone can globalize their business, no matter how large or small that business is, thanks to digitization, virtualization, mobilization, and Cloud technologies. In fact, these days you can have a global client base, even if you're a company of one.So where is your company in the hierarchy of globalization? Here are some options to think about as you assess where you currently are and where you might want to be:
- Level 1: You manufacture products in the United States and you sell your products in other countries.
- Level 2: You manufacture products in the United States and you sell your products in other countries, but you also manufacture those goods in other countries. This is a higher level of globalization.
- Level 3: You manufacture products in the United States. You also manufacture products in other countries, but you customize the products in the various countries based on the unique needs of those countries. Clearly, that's another, higher level of globalization.
- Level 1: Your company has an executive team and a board of directors. Most likely, many of the executives and board members have traveled around the world. They have passports with many different country stamps on them; they know the old adage "you don't know if you don't go."
- Level 2: You have people on your board of directors or on your C-suite that are actually from other countries. That's another level of globalization, isn't it?
- Level 3: The president or CEO or one of the other top leaders is from another country. That's clearly another level of globalization.
- Level 1: You sell your services in the United States and in other countries.
- Level 2: You sell your services in the United States and in other countries, but you customize the services for the unique needs of the people and businesses you serve in each country.
- Level 3: You license your services to providers in other countries.
So what level of globalization are you really at? Have you been at the same level of globalization for a long time now? What would it take to move to the next level?