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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.