As we approach the end of the year and many companies are in the process of assessing and planning, let me raise three major questions:

Full article:  Business Edge

As we approach the end of the year and many companies are in the process of assessing and planning, let me raise three major questions:

• How will you leverage the opportunities presented by the economic recovery?
• How are you going to leverage global opportunities, be competitive and grow your business?
• Have you set your GPS and have a clear idea as to where you are heading?

In his poem, “The Road Not Taken,” Robert Frost writes, “Two roads diverged in a wood, and I took the one less traveled by, and that has made all the difference.” The global marketplace is literally a maze of untraveled roads and the “difference” can be unparalleled growth if the approach to selecting the right market is carefully executed with commitment, purpose and direction.

However, taking the road less traveled requires a long-term strategy to define a product’s uniqueness and a presentation in a manner that distinguishes itself in a global marketplace. It’s more than just taking a national strategy and adding the word “international” on the front-end. Developing a successful strategy requires research and careful introspection to answer such questions as:

• Can the existing product or service be modified to appeal to another market/region?
• What is the expected demand in those other markets (e.g., China, Africa, and Europe)? Consider tastes, buying habits and financial abilities, which vary widely by region.
• How much will the modifications cost? Is it within budgetary constraints, and how much can be invested to create a competitive edge?
• What is the best case/worse case return on investment (ROI)? How will we measure both the potential and actual success?
• What opportunities will justify the investment and create the best ROI with consideration of both risk and proposed time frames?
• What legal issues must be addressed?

Whenever product modification is required, always opt for the adaptation which brings the most value to the targeted buyer with the least relative cost to the business. In other words, consider what market offers the greatest demand with the least amount of alteration to the actual product itself.

Going the road less traveled also requires a significant investment of upfront resources in terms of understanding the marketplace: understanding cultural habits and perceptions to help forecast buying habits; calculating expected sales volumes; anticipating trends; evaluating existing competition; and understanding the region’s overall economy. Beware, however, that this process may require unbiased and objective oversight and coordination by independent global experts who are skilled at anticipating issues because of their extensive experience operating in foreign markets.

An independent expert can also improve communication between the company’s various departments and up the chain of command to senior management. From product development to marketing, sales and finance, each department will have an important role in the planning process.

An international project manager, familiar with all aspects of the process, keeps each department focused on their tasks and prevents the teams from pulling too far in their own direction, which often leads to disaster. Ultimately, the focus must remain on prospective customers around the globe with different lifestyles and different worldviews, but with the same basic needs that drive consumers in the U.S.

Avoid the Pitfalls in the Road

Selecting an effective competitive strategy requires an organization to bring unsurpassed value to a targeted audience. Hence, it is vital to understand the concepts of value, needs and desires from the perspective of the targeted marketplace. After all, “value” is a relative term. Only then can the company begin to evaluate both the options and feasibility of aligning its expansion strategy with the needs and desires of any particular region or market. Still, the road to global expansion can be perilous and warrants close examination of common challenges faced by many businesses that have led the way internationally.

Oftentimes, the challenges result from unclear strategic direction, inaccurate assessment of risk and inconsistent alignment between vision, mission, resources, strategy and operations. Consequently, companies need to continually monitor their internal structure and domestic operations and align both with global strategies. Another common stumbling block is cultural ignorance. It’s critical to know the customer! Does this culture eat out or in; walk or drive; are the women at home or working; do they discard and replace or do they repair; do they shop online or in stores; are they brand loyal or not; and who in the family makes purchasing decisions?

Second, make sure all employees are aware of the global vision, understand it and accept it. It is also necessary to design international programs that appeal to your global customers, and that there is a cultural fit in terms of values and product design.

Finally, assess risk, but focus on opportunities. Part of assessing risk is understanding the region’s legal environment. Here’s an example: In the U.S., Lands’ End possesses a strong competitive advantage through its pledge to stand behind quality and offer a lifetime guarantee on every item it manufactures and sells. However, when it attempted to duplicate that strategy in Germany, it was quickly rebuked by the German courts. Such a guarantee violated German law, which prohibits companies from offering incentives with purchases that can cause unfair competition. Fortunately, in this instance, Lands’ End was able to turn the incident into an international marketing campaign. But, the company is still prevented from directly telling consumers about the lifetime guarantee unless directly asked. This is an important lesson. Remember, success in the home market is not a guarantee of global success. Make sure the expansion doesn’t get “a life of its own,” and that good money doesn’t follow bad.

No time for long-term planning, BUT all the time in the world to live with the consequences. True or False?

LeaderSHE Forum will take place in Vienna, Austria where elite personalities and celebrities, both men and women – be it in politics, business or social life – will debate over major themes of the day, from a woman leader perspective: government-driven solutions for business sustainability, globalization and market expansion – cross-border business development, the aftermath of the economic meltdown – reinventing business models, strategies for sustainable growth and innovation: never ending reforms of the healthcare systems, risk management, energy security and sustainability.

“In a global uncertain world where all the rules were broken this past couple of years, we all crave for a new kind of leadership; Leadership that has the flexibility, the ability to communicate, the commitment and panoramic vision to navigate the storm and get us safely to shore. The world is in search for a unique set of skills and a new generation of leaders. Are women the leaders the world has been waiting for?” Asks Mona Pearl, confirmed speaker at the LeaderSHE International Forum, and Founder & COO of BeyondAStrategy in Chicago, IL USA.

A superbly impressive line-up of worldwide visionary women – leaders will take place on April 7 – 8 at the LeaderSHE International Conference and Gala Dinner, organized with the special cooperation of Mr. Erhard Busek, former vice-chancellor of Austria, in Vienna. http://www.foruminvest.ro/conference/leadershe2010/agenda

“As women in a complex business world, we need to be true to ourselves as to what we want to do and who we want to be. Let’s accept the fact women and men are different. Let’s play the business game as women and not forget for a moment the range of skills we bring to the table. Let’s focus on collaboration, while translating our uniqueness into advantage. We have to believe in ourselves and learn to embrace achievements and success. Let’s stop focusing on limitations and perfection, and center on possibilities while doing the right things. Dare to let yourself dream and visualize with open eyes, and you may be surprised how fast reality follows. Let’s become the role models we didn’t have”, concludes Mona Pearl, Romanian born and has been managing her global strategic expansion firm for over 10 years now in the US.

Mona Pearl’s experience in international strategic development and global entrepreneurship has been vital in helping companies design and execute their global strategies. Ms. Pearl is known for her out of the box thinking and developing creative solutions to tough challenges which produce bottom line results. Mona Pearl was featured along side with Philip Kotler and CK Prahalad in an interview on The Search for Global Consumers.

Among the high profile speakers and confirmed debate generators to join the Leader SHE Community in Vienna, Forum Invest proudly announces Gabriele Heinisch Hosek, Minister for Women and Civil Service, Austria, Barbara Prammer, President of Parliament, Isabel Aguilera, director of INDRA Sistemas Spain, quoted by the Financial Times as one of the first 25 European Executives, as well as one of the only two Spanish women included in Fortune Magazine´s Top 50 Most Influential Executives in the World, Ms Mona Pearl, Global Business Expansion Expert, Founder & COO Beyond a Strategy, USA, Ms. Elisabeth Rehn, the First Woman Minister of Defense in Finland, Minister of Equality Affairs & Presidential Candidate in 2000. Ms Selma Aliye Kavaf, State Minister for Women and Family Affairs, Turkey, Ms Vasso Papandreou, Member of Parliament, Greece, Ms Barbara Kolm, President, European Center for Economic Growth, Austria, Dr. Amany Asfour, President, Egyptian Business Women Association & AfroArab Network for Women Empowerment, Egypt have also confirmed their official participation at the most important Central & South-East European reunion of Women-Leaders. http://www.foruminvest.ro/conference/leadershe2010/agenda

Ms. Pearl founded and operated 3 successful businesses. From operations to organization to top line growth strategies, Ms. Pearl initiated and executed cost effective and creative opportunities for companies to make money. She helped companies increase global market share, enhance leadership and engage the stakeholders along the value chain. These activities led to companies growing their business across-borders, leveraging their global competitiveness and addressing diversity and cross-cultural issues in international markets.

Projects across industries and across borders include: Deutsche Telekom, GM, Rover, Jaguar, Marriott, Hyatt Corp., IMF, Fermilab, The Export Institute, SES GmbH, Navistar, Accenture, Michelin, State of IL – DCEO, Philip Morris, Bacardi, United Airlines, American Airlines, Virgin Atlantic, Delta, Continental, and many more.

Ms. Pearl lived in three continents, and is proficient in six languages. She was quoted by Microsoft, Crain’s Chicago, Entrepreneur.com, and interviewed by other media on global issues and strategies. She is a frequent speaker at global related conferences, has co-authored two published books, is a Professor at DePaul University, writes a column on global competitiveness in Manufacturing Today and Management Today, as well as publishes in other business related magazines.

For more information, please call: (312) 642-4647 emal:  MonaPearl@BeyondAStrategy.com

Or visit: www.MonaPearl.com / www.BeyondAStrategy.com

Mona Pearl, the founder & COO of BeyondAStrategy in Chicago looks at global entrepreneurship, innovation and collaboration as a driver for future world peace and economic stability. “Many CEO’s just don’t focus on successful global strategies and the need to in-source the expertise for global success”, says Mona Pearl, following a KPMG study highlighting that one out of two US companies trying to go global – fails.

A superb and brilliantly invigorating gathering of the top management minds took place in Vienna, the Austrian capital on November 19 – 20, 2009. They all came to celebrate and commemorate the hundredth anniversary of the birth, in this city, of Peter Drucker, the father of modern management who died in 2005 just short of his 96th birthday. His widow Doris, age 98, has come over from the States to see it all for herself.

Following the conference, the Austrian economic magazine, FORMAT has interviewed three thought leaders on where should the world look for opportunities in this time of crisis? What are the big goals and focal areas for management as we approach 2010 and beyond?

“Many CEO’s do not allow themselves the amount of planning and time it takes to succeed in global markets, and what may work in the US, may not work in Western Europe, or in Eastern Europe.” Or for that matter, in any other place in the world.

Creating an effective competitive advantage is an essential component of any corporate strategy, and it is critical for success in today’s dynamic global environment. Not surprisingly, competitive advantages are not available in one-size fits all packages. In fact, they vary greatly depending on the unique circumstances of the company, product, market and culture of the target audience. For that reason, what works well in one market may fail in another, even with the same product! To make matters worse, even the most powerful competitive advantages may not last long. But, businesses with the skills to rapidly identify, innovate and exploit new competitive advantages quickly and repeatedly will be formidable competitors both at home and abroad.

Prof. Philip Kotler, the marketing guru sees many changes, but also opportunities to help the poor become consumers. Managers need to devote more time to plan for different situations and establish an early warning system that will prepare them for the worst case scenario.

The question we should be asking is: what do you sell and who do you sell it to? This question wasn’t always answered ethically by the ones selling risky financial products.

CK Prahalad focuses on social justice as a major goal for growth and stability. Helping establish poor countries as future markets and creating the future consumers is our chance for a better future and should be the core interest to enhance the world.

“As competition continues to intensify both domestically and around the globe, so does the need to identify key competitive advantages. Quality products offered at competitive prices, although important, will not guarantee long-term success. Rather, businesses must answer one critical question: “Why should customers buy my products/services as opposed to the competition, and what is my long term plan to remain competitive and succeed in growing the business globally?” If this question can not be answered with clarity, it is time to step back and identify a position from which your product can be distinguished and set apart from all the other competing products, before it’s too late”, warns Ms. Pearl.

Ms. Pearl lived in three continents and speaks 5 languages. She was quoted by Microsoft, Crain’s Chicago, Entrepreneur.com, and interviewed by other media on global issues and strategies.  Ms. Pearl is an adjunct Professor at DePaul University in Chicago, teaching International Business.  She is a frequent speaker at global related conferences, has co-authored two published books, she is a contributing editor on global competitiveness in Manufacturing Today as well as publishes in other business magazines.

Ms. Pearl founded and operated 3 successful businesses and will share from her experience in global entrepreneurship & innovation. From operations to organization to top line growth strategies, Mr. Pearl initiated and executed cost effective and creative opportunities for companies to make money.

Thomas Friedman book and interview

I was at a Chicago Council on Global Affairs event last week, where Mr. Friedman discussed his book, “That Used To Be Us”.  America is in trouble, according to Thomas L. Friedman. Globalization, the information technology revolution, chronic deficits, and the nation’s excessive energy consumption are all major challenges facing the country today. Moreover, the current political factionalism in Washington has undermined the United States’ ability to tackle these dilemmas and further threatens the country’s position as a global leader.

Is that all?  And what else?

I will argue and add that there is a major fourth challenge we face as a nation, one that stands in our way to succeed:  it is our unwillingness to play in the sandbox with the other nations.  Or, is it that we are so spoiled that we don’t know how?  I am not talking about simply leading the world where there is no competition, the way it used to be.  My point is that the power in the world has shifted and we are no longer alone at the top; a few nations have emerged and take some of our place in limelight and we need to learn to collaborate and not only dictate. Is it arrogance or ignorance?  Or a bit of both?

In my book, “Grow Globally”, I explain outline how US companies can thrive, lead and succeed, but need to acquire a few skills to help them navigate in this new global economy.  Historically, the US has been the leader in the world’s economy (well, this history started about 200 years ago!).  As we enter the second decade of the 21^st century, that position has changed.  We’re not even second or third!  According to the 2010-2011 Global Competitiveness Report, the US ranks fourth, behind Switzerland, Sweden, and Singapore.

Fueled by our rugged individualistic and isolationist heritage, it’s no surprise that collaboration across international borders requires a significant level of reconditioning. The United States must move beyond the “us-against-them” approach and recognize that a prosperous world translates to more business for U.S. companies—a win-win situation for all. This attitude is necessary for the United States to maintain its long-standing and valued leadership in the world. Fortunately, with a large dose of commitment, mindset can be corrected, and this challenge can be overcome. How quickly depends on how serious American companies are about joining the global marketplace. As proven in previous decades, when American business embraces challenge, it finds success.

While it is tempting for U.S. businesses of all sizes to focus and dwell on the many overwhelming issues of the day, such as weak economic growth at home, an uncertain credit crisis, a shrinking pool of skill and talent, and increased foreign competition, the fact remains, these issues are not within the control of corporate management. Instead, corporate leadership must take one large step back and look into the global marketplace to discover new opportunities and new avenues to generate future growth. While larger corporations have more resources to invest in exploiting these new opportunities, smaller companies are more agile and can more readily adapt to change.

It is about execution, and since most of strategies fail in the execution phase, we need to learn new ways to get our points, products and services across borders; realize our strengths and competitiveness, and learn to share the stage, focus on teamwork.  Friedman, proudly calling himself a “nationalist”, managed to undermine his own wake- to America. What he focused on is an inward look into a great past, or, as the FT calls it “reinforce the illusions of exceptionalism”. What he emphasizes is that need to look into our own history, and although there may be things we could learn from others, we should focus inwards.

Let’s think about it: how does isolation, constant self-praise, and ignoring the rest of the world by not wanting to learn and accept the new order going to help the United States of America thrive?

It is time we get rid of the illusion that things are going to go back.  There is no going back, only forward.  We need to refine our skills, adjust our mindset, reaffirm our focus, retest our strategy and modify our direction.

Some of the information above is excerpted from Grow Globally: Opportunities for Your Middle-Market Company Around the World. Copyright (c) 2011 by Mona Pearl.  Reprinted with permission of John Wiley & Sons, Inc.

The 2016 Olympic Bid: A case study in Global Business Development & Sales

Experience is the key word, as well as a global network of relationships that were developed and nurtured throughout the years. In order to be a successful player in the global arena, one has to develop relationships across borders. Cultural differences can make or break a deal. As a global business expansion expert, I will take some of the principles of successful global business practices and take the Olympic bid to analyze them. This will demonstrate how discounting cross-cultural sensitivities can leave you dead in the water. The US missed the boat in Copenhagen on so many levels. Was it arrogance or ignorance? You decide.

Let me set the record straight. Let me start with expressing my passion and love for the City of Chicago. Chicago is my town, and as much as I have traveled around the world, it is a fabulous city to live and conduct business in. Mayor Daley is my hero and there is nothing I wouldn’t do to get the Olympics to Chicago. But Chicago and the US have a lot to learn about the rest of the world.

The US is the best country in the world. Sometimes I think people don’t appreciate how good we have it here compared to each and every other place on the planet.  Since international business is my business, I would take the initiative and provide some constructive criticism to our leadership.

In my book I list the 10 biggest mistakes companies make when going global. I will mention the two that seem to be a perfect fit this case study:

When KPMG’s Global Enterprise Institute surveyed U.S. middle market companies in late 2007, it found that 58 percent of all businesses surveyed planned to increase their global presence over the next five years, and one-third planned to maintain their current global presence. Interestingly, in the same survey, fewer than half of all respondents said their expansion efforts over the past two years had been successful; therefore, 50 percent were unsuccessful! With failure rates like these, it’s time to ask “What are we doing wrong?” More importantly, what must be done differently to improve chances for future success in the global marketplace?

Mistake # 7: Forgetting the Fundamental Importance of Cultural Differences. There is no one best way of doing business, and the American way is definitely not the only way. When venturing globally, one has to be sensitive to nuances in order to get the deal done. Many business transactions were halted or terminated due to cultural misunderstandings, or to be a bit blunt, cultural ignorance. Managers in an international business environment must not only be sensitive to cultural and language differences, but they must also adopt the appropriate policies and strategies for coping with them.

Mistake #9: Being Overconfident in Your Global Expansion Skills. Seek professional advice to navigate the unknown and use other people’s experience to help you succeed and follow a smooth road. A little humility goes a long way in combating the overconfidence error. Remember that what got you to be successful in the US, in most cases won’t get you there. At the most fundamental level, the differences arise from the simple fact that countries are different. Countries differ in their cultures, political systems, economic systems, legal systems, and levels of economic development. Many of these differences are very profound and enduring.

The first among five most commonly mentioned areas of difficulty for US companies are Cultural issues (39 percent). And this came to light on October 2^nd in Copenhagen.

International success requires tremendous finesse in terms of cross-cultural skills. The fact is, not paying attention and ignoring mindset and perception can make or break even the most carefully executed global efforts. We are not talking about the technical issues. Chicago’s bid was up to par. We lost support due to a few don’ts that should have been considered beforehand:

President Obama. It starts with Obama saying publicly he will not go to Copenhagen but he will be sending his wife. President Obama, yes, Michelle is the first lady, however, she is no replacement to a head of state, the Unites States of America. In other cultures this is considered as a faux pas (a bad step in French), and is perceived as: “it is not important enough for me to be bothered”.

The next move was that just a couple of days before the Oct. 2^nd, when you stated that you will be joining your wife, made it even worse. So now, you do have the time? And then you show up for a few hours, not even considering that your presence is to built trust and rapport.

The flip flop didn’t fly very well in the international community. Then you decide to show up for 5 hours, on a touch and go trip. So American – down to business and no regards to relationships. And to top that off, the speech was so much focused on “I”. Yes, the US is considered a very individualistic society (based on Geert Hofstede’s Index), which has been great for business, but hasn’t built too many friendships around the world. We don’t have the luxury of choosing who we want to do business with anymore. It is time we listen, learn, observe and accept that there is a world outside of the US. A world that wants to collaborate with us. A world that has tremendous respect to our achievements.

Where is the commitment, the staying power? Here is how most Nations perceive the US way of doing business:

Direct and open communication. The Japanese, German and many other cultures do not appreciate the approach of ‘tell it like it is’, or, ‘what’s the bottom line?” This may arise uncomfortable and embarrassing feelings, while giving the impression of being too pushy, or even hostile.

You proved them right: came to make your speech and that’s it. Bottom line.

Impatience. ‘Get it done yesterday’, is an acceptable way of operating in the fast pace business environment in the US. The phrase ‘lead, follow, or get out of the way’ often seems to be how Americans go about business. In a global context, this may reflect that the American is rushing through the negotiation, and has no interest what so ever, to get to know the other side. It puts a strong emphasis on content over the relationship involved.

You just stopped by for a few hours, a “touch and go” approach.

Emphasis on short-term. US corporations tend to look short-term, especially in comparison to the Eastern cultures. There is a tendency to think in terms of the immediate deal rather than of developing a business relationship that will bear long term benefits. It appears to the other side as the person is out simply to ‘make a fast buck’ for the company.

The King of Spain made it a priority. Yes, the King. I know we are a very informal society in the US, but we need to learn to respect. Respecting other countries, their heritage and culture. Yes, a Spaniard discovered America and their history starts way before we became the United States of America. And let’s not forget all the other dignitaries from other States.

President Obama, it is not about being a star, it is about connecting with the world. Building relationships, listening, observing, learning, and collaborating. One of the complaints about President Bush was that he was a cowboy from Texas. Well, he is. He felt comfortable with that identity and was proud of it. Global stardom requires a global approach, and the IOC wasn’t swayed by your influence. Maybe your clout stopped at the Pacific and the Atlantic? (Said Wood, who said the early elimination reflects poorly on the president).

With the IOC’s members sitting silently you explained how your family moved around a lot when you were a kid and “I never really had roots.” President Obama, it is a faux pas in such high level circles to share this type of information. One just doesn’t talk about it. Again, it is common in the US, but your audience was global. A rule in sales: go to where your customers are and speak to them in a way they understand. It is not about you, it is about the benefits to them.

Yes We Can does not translate very well into most other languages. On the contrary, if not emphasized right, it means that the focus is on the US again, leaving out the rest of the world.

Mayor Daley, my role model and hero. What you have done for Chicago in the past 20 years is amazing. Thank you from the bottom of my heart. And when I travel overseas on business, I am always proud to say that I live in a world class city, Chicago! But when it comes to the international community and the Olympics, it was not about pitching to a corporation or wooing another Boeing to move its HQ there. It is about a compelling story, about passion, about talking a person to another person.

“It’s not about the words,” Daley said. “It’s about the heart and the soul.” Dear Mayor, it is about the words, since this is how people build a connection. And the words have to be chosen carefully. The video was made by Americans for Americans. It doesn’t appeal to the heart and soul of other nations. They also have beautiful beaches, high rises… It does have to do with words, compelling and passionate words that reach the hearts and souls.

It took a charismatic Luis Inacio Lula da Silva in his presentation full of passion, which demonstrates that even though he was fearful that they were going to lose to the star power of the OBAMAS.

And your mention of the two African-American sprinters made quite a few people feel uncomfortable. What was the message? That there is no race discrimination in the US? We all know we have a long way to go before we accomplish that. It was not appropriate, didn’t send the message. Race is something we should work on in our country. Did you realize there are delegates that may be offended? It is a faux pas.

Doug Arnot, what can I say? Je ne comprends pas. The US is known to be language deficient, where people speak the English language only. Mr. Arnot tried to show that we are different. You should have known better not to do it in French. Doug, you butchered the French language, and you should know how much pride the French take in their language. And not only the French, but the Francophones in general.

Not to mention that I didn’t see any headphones or was aware of any interpreters on site, so in addition to almost insulting the Francophones, the rest of the dignitaries, who do not speak the French language could not even understand what you said, and they were left out. What was the idea behind this? It couldn’t have been a sales tactic, or at least not a thoroughly planned one. What was that all about? Was that supposed to make us appear as a multi-lingual nation and present us in a different light? Je crois pas, monsieur Arnot.

“So many members have never been to Chicago and expect it to be a city of smoke stacks,” said Doug Arnot, Chicago 2016′s operations chief. “They come here and see this picture and it has quite an impact. This is a real photograph. It exists today. It’s not what might happen.”

Let’s not put the down the rest of the world. They are well read and know that Chicago is not a smoke stack anymore, especially since Obama’s Presidency. People outside of the US are much more in-tune with US history, politics and culture. They study it at school, they are worldly and educated.

Another aspect as to how the US is viewed by the rest of the world:

US-Centric. There is a joke that has been around for many years: How do you call a person who speaks several languages? Polyglot. How do you call a person who speaks two languages? Bi-lingual. How do you call a person who speaks one language? American.

Americans have limited experience with other cultures due to the enormous market size and opportunities within the 51 States. The perception by the other side is that Americans are culturally myopic and arrogant about their nationality, and refuse to learn a foreign language, understand local customs, or accept another country’s approaches to business or personal life.

Michelle Obama, our First Lady. You get my full respect and admiration. However, in international high society circles one doesn’t reveal such overly detailed personal information. It is not considered good manners. I am aware you had a very close relationship with your father, and this is a great memory for you. I know that in the US we talk just about anything, but your audience was not Americans, so it would have been great to match the message to the audience, stick to the objectives. When going global, know your market. Know your audience.

Michelle Obama was sharing how her father “taught me how to throw a ball and a mean right hook.” It is not very lady like.

What was our message besides we want it and we deserve it?

Rio de Janeiro has delivered a passionate appeal for South America to be awarded the Olympics for the first time.

“Tokyo is indeed well positioned to serve as a future model for public safety and environmental sustainability,” Hatoyama said. “In hosting the 2016 Games, Tokyo will show the world how a major metropolis shall flourish without detriment to the environment.”

An uncomfortable moment for Chicago came when an IOC member from Pakistan, Syed Shahid Ali, noted that going through U.S. customs can be harrowing for foreigners. Obama responded that he wanted a Chicago Games to offer “a reminder that America at its best is open to the world.” How did this answer address the question?

“It’s a project that has my wholehearted support,” Juan Carlos told IOC members. It also reiterated that 77 percent of its venues are ready or under construction.

So why do foreign companies excel in the global marketplace and in many cases beat U.S. corporations to the punch?

Many U.S. corporations have been so successful for so long that it seems now they are too slow to react to changes in global markets due to a lack of being able to see a different point of view. Successful global expansion depends on leaders who think proactively, sense and foresee emerging trends, and are not afraid to act upon them. To accomplish that, U.S. corporate leaders have to possess a global mindset and be open to new opportunities in new countries, involving different cultures.

Many foreign companies that are now direct competition to the U.S. have been more exposed to global business. These leaders have learned to deal in a less structured, bureaucratic, and regulated reality. They are more comfortable with ambiguity and have developed an efficient decision-making and execution process, and this basically enables agility and the tracking of issues in parallel and real time.

Fortunately, with a large dose of commitment, mindset can be corrected and this challenge can be overcome. How quickly depends on how serious American companies are about joining the global marketplace. As proven in previous decades, with past challenges, if American companies get serious, look out world!

Mona Pearl, Founder & COO of BeyondAStrategy, a global business development firm will be presenting at the 1st Peter Drucker Global Conference in Vienna, Austria. The whitepaper on “Innovation and Entrepreneurship in a Global Economy” discusses how the concepts of innovation and entrepreneurship first introduced by Peter Drucker in America in the 1980s have evolved and changed in the last twenty five years and what implications these concepts have in a current and future global marketplace.

“Innovation and entrepreneurship will continue to expand in the future across borders, because of the existence of these six circumstances: global market conditions, entrepreneurial mindset, eroding confidence in established institutions, shifting business environment, international collaboration and environmental/technological advancements.”, says Mona Pearl, Founder & COO of BeyondAStrategy.

Ms. Pearl states that systematic innovation had a place in 1980s corporate America, yet, so many other innovation and entrepreneurial practices have sprouted up around the world. The time has come to herald in a new era of innovation and entrepreneurship and apply the practices the way they best serve future needs of society and global companies, as well as the changing global economic conditions.

Ms. Pearl offers a snapshot and compares three countries known for innovation: U.S., Switzerland and Israel. These are also ranked by number of start-ups, the top three countries are U.S. (#1), Israel (#2), and Switzerland (#3). The innovative strengths and challenges of three distinctive countries, all with comprehensive ratings provide further insight to innovation and entrepreneurial potential in the global marketplace.

In her summary, Ms. Pearl is offering a forecast/look into the future on global innovation and entrepreneurship and its role in the global economy.

This conference will feature top speakers from the Economist, Proctor & Gamble, INSEAD, IMD, Newsweek, and Philip Kotler of Kellogg.

Ms. Pearl founded and operated 3 successful businesses and will share from her experience in global entrepreneurship & innovation. From operations to organization to top line growth strategies, Mr. Pearl initiated and executed cost effective and creative opportunities for companies to make money.

Ms. Pearl lived in three continents, and her language abilities include: English, French, German, Hebrew, Rumanian and Spanish. She was quoted by Microsoft, Crain’s Chicago, Entrepreneur.com, and interviewed by other media on global issues and strategies. She is a frequent speaker at global related conferences, has co-authored two published books and is a contributing editor on global competitiveness in Manufacturing Today and US Business Review.

1. The biggest risk is not doing anything. By doing nothing you move from the driver’s seat to the passenger’s seat. Has it ever worked for you before?

2. Priority no. 1 should be the focus on growth. Not just survival. A fixing solution to a sinking ship will just delay the end. Are you willing to give up now?

3. History lessons are not a platform to a sound operation, especially not in this economy. Focus on the business, not just the bottom-line. Analysis of profit & loss statements and balance sheets will give a historical lesson but does little to understand the dynamics of the business.

4. Decisions have to be data driven. Whether you decide to adopt a certain strategy, or just change and enhance a product-line, do your homework. Get the facts.

5. Envision and articulate the ultimate picture of where you want your company to be, and stick to it. Yes, you will have to deal with change and unexpected turns, but at least you would know where you are heading and be able to stir the business wheel in the right direction and get back on the highway.

6. Need an antidote for shrinking domestic markets? Consider international expansion. It’s a fact. International expansion offers unparalleled opportunity for growth, increased sales, diversified markets and increased profit. Companies should be globally aware, and not necessarily active. It may not be the right time for everyone, but knowing about what is happening in the global scene, who of your competitors is expanding into the US, and what your options are – is crucial.

7. Manage risk and embark on the opportunities. Remember what got you to run a company to begin with. Where is that entrepreneurial spirit?

8. Evaluate your team and your own set of skills while being cautious of confusing ego and personality with performance. As I said once to a client: this is not a date. If your employee is a high-performer, sometimes this is enough to make a decision, as long as it doesn’t get in the way of the team.

9. Look around you and understand what business you are in, who is your competition, what are your choices, what your reputation is and how you can better position you company in the market. Remember the basics of running a business.

10. Plan, Commit, Action

Shareholders as stakeholders and investors are and should be looking for long term returns be it through increased share price or dividends. CEO’s have the obligation to meet this expectation. Typically, however, CEO’s focus on short term results. Why? Because they are rewarded for short term results. Who hasn’t heard a report that XYZ Corp. quarterly results were 2 cents per share less than anticipated? The CEO’s bonus will reflect those results.

Click on Mona’s photo to view her interview.

As Bill Gates reminds us though, “success is a lousy teacher; it seduces smart people into thinking they can’t lose.” Consequently, many “smart” business people approach global expansion as just that, an expansion of their existing business. Instead, it is important for U.S. businesses to approach globalization as an entirely new enterprise: an enterprise worthy of all the money, time and sweat equity dedicated to getting domestic start-ups running successfully. At the same time, globalization needs to be fully incorporated into the overall corporate strategy and not treated as a disjointed side business. No short-cuts, no resting on past laurels and no more excuses.

Where In The World Should You Go?

With more than two-hundred countries to examine for global expansion opportunities, and with a group of ‘hot’ markets and emerging economies that have future promise, the first question to answer is, “where will my product or service find its highest demand?” Finding the answer to this question requires a leader to step-back and take a panoramic view of all potential markets. Then, investigate the most promising markets with a more detailed and focused emphasis on important criteria such as infrastructure, standard of living, economic/political stability and general attitude towards foreign investment. Make use of available information that is relevant to your business to help guide the decision making process regarding which markets will yield the greatest demand and warrant further consideration.

However, demand itself is not enough to ensure a success. In addition to looking outside at potential opportunities and demand, it is equally critical to look internally at the corporate commitment to globalization. Conduct an honest self assessment and evaluate internal resources such as motivation, goals, talent, budgetary constraints and tolerance for risk. Nor is corporate size a guarantee for success. Today’s decentralization and technological advances have leveled the global playing field, allowing plenty of room for both small and middle-market entrants. In fact, the agility of small to middle market corporations challenges their less nimble, larger competitors in the race for international market share.

Click on Mona’s photo to see her video.

What is your plan to creating and sustaining your competitive edge?

Another key component is the ability to access the growing markets of the worldwide marketplace.  With a significant expansion of free trade agreements in recent years, American business has expanded opportunities to market their products and services to new customers around the world.  From Wall Street to main street.  The impact of worldwide markets is enormous.

Do you know how you are going to grow your customer base and serve them?

The impact is already evident with some companies, and there are many great examples of American companies that have successfully driven economic transformations to bolster competitiveness in global markets.  Such transformations will accelerate over the next decade as strategies are built to connect with the worldwide marketplace.

As we face new challenges in the interconnected worldwide marketplace, opportunities abound if we remain fast, flexible, innovative and motivated.

Are you missing out on business opportunities?

How do you best compete in the global marketplace, find the right customers and sell?

Smart, collaborative, forward looking competitive strategies are the key to success.

We know that every major country in the world is getting in the game, is trying to compete harder, is trying to create an environment for innovation and we are no longer sort of on our own.  Whereas just about 20 years ago we were trying to convince the world to adopt free enterprise and attract foreign capital and get into trade, I don’t think we have to do any more convincing.  People have gotten the message and they caught on to it pretty fast and well.  Thomas Friedman in his Post-American World, he doesn’t talk so much about the decline of the US.  He talks about the rise of the rest of the world.  And the concept that the rest of the world is emerging prosperous and many of those people are young.  And they look on their cell phones and can see how their life can look like, and they are going to do their best to get there.  People in other countries are going to move and improve their lives, whether we choose to be in the game or not.

Are you in the global game?

And now, our challenge is not so much convincing people but increasing our level of competitiveness that we can continue to lead the world.  Many US companies have lost their competitiveness or worse, have lost importance relative to other companies around the world.

Ensuring you continue to lead and stay competitive – how are you planning to do that?

We live in a knowledge-based global economy where skills are the critical ingredient for success.  Instead of focusing on one’s insecurities, the task should be to work on a strategic competitive plan for your company and not incremental fixes to immediate small problems.

By 2020, 80% of all the consumers in the world are outside of the US.  These are our customers, our consumers, our partners; we are going to have to work with them.  Sell to them.  It is how we marshal the assets to take advantage of this and not look back, since we cannot go back anymore.

Do you have the right talent and skills to get your company global?

Where in the world should you go?

How are you going to take the lead?

There is no simple answer, or one size fits all.  We have to work on lots of agendas simultaneously with a common sense of purpose.  With a strategic sense of where we need to go.  Where are you heading for?  What are you going to do when you get there?

Click on Mona’s photo to view her interview.