As the world continues on its journey of change, global leaders in all industries and government must maintain their leadership positions, and also address changes and opportunities at the same time. Therefore, it is essential leaders scan the environment to recognize, utilize any advantages, and strengthen weaknesses to keep the company as a leader and not become a follower in the market. In the following discussion, there are a few global trends that leaders need to explore further on how industry and consumer markets affect the organization’s bottom line and leadership’s effectiveness.
Global Leaders Response to the Changing World and Opportunities
Today’s world leaders must broaden their roles within corporations and still be an innovative
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As many national and international enterprises enter into the world market, there are has been a massive increase in the number products and services, financing, and talent available to the world, which makes selecting the best to utilize for personal and professional consumption (Beinhocker et al., 2009). Because of this explosion of choices, global trendsetters will have to cash in on these opportunities and protect themselves along with the corporation from being forced into becoming obsolete (Beinhocker et al., …show more content…
If Western companies such as the US do not take action on this opposing threat in technology and research and development (R&D), for example, then they will lose customer loyalty and suppliers because high-quality Asian goods but for less will win them over (Beinhocker et al., 2009). Finally, pricing stability trend is significant to corporate and personal financial flexibility (Beinhocker et al., 2009). Ergo, world governments and companies must link and refine fixed costs, sales price, and inflation to monetary sensitivity to adjust to the current environment if they expect to see growth in the global marketplace (Beinhocker et al.,