16
RECONFIGURING MANAGEMENT POLICIES
mANAGEMENT policies that are necessary to handle development of an International market realignment will need to be overhauled prior to the market entry . Here are the top management challenges facing all firms that wish to expand into global markets :
REALIGNMENT
In order keep international market share , a first rate international finance regime will need to be employed . Here are eight basic steps that corporate treasury officers need to take in order to maintain global market share :
1 . Top management teams lack international experience . rapid-growth market companies are not confident that their organization has or can build an effective international management team . Top management teams lack awareness of local cultures and understanding of global markets , according to our external findings .
2 . Lack of an internal management pipeline forces companies to recruit from rivals . Companies in rapid-growth markets are building their international management teams through the development of internal pipelines as well as recruitment from other organizations . While building an internal pipeline requires time and investment , the latter can result in high turnover and salary inflation .
3 . Companies are unable to retain and reward high performers in different markets . Some companies report it can be difficult to appropriately incentivize performance across different markets and cultures . According to our external findings , many companies feel they can improve their approach to retaining high performing global talent .