In some cases, we may start by assessing and implementing global human capital and cross-cultural knowledge strategies. In conjunction with the The Global Mindset Institute at Thunderbird, these are some of the most innovative and highly developed cross-cultural systems that exist in the marketplace. In short, it's imperative that the people in your organization conducting global business possess a Global Mindset.
We might also look at three types of currently successful global strategies - adaptation, aggregation and arbitrage (AAA) – as well as a framework for implementing them. This process was developed by world renowned global strategist, Pankaj Ghemawat from the IESE Business School.
Adaptation – adjusting to differences by maximizing a firm’s local relevance through a national focus, and thus boosting revenues and market share
Aggregation – overcoming differences by standardizing products or services and grouping together development and production processes, and thus achieving scale and scope economies
Arbitrage – exploiting differences between national or regional markets to achieve absolute economies through international specialization
In all markets, but in particular in "exotic" and less familiar markets, such as Central Asia, Sub-Saharan Africa or the Caucasian republics, we develop an illustrative success model with such variables as assortment, pricing, distribution and alliances.
All companies across industries are struggling to find a balance between continuing innovation and cost. We preach "open innovation" -- a process by which you reach out to the global community of innovators through carefully created briefs, selected but wide networks and innovation partnerships. In other words, just as you seek new ideas from different industries, you may be able to multiply innovation exponentially by seeking out new ideas from different industries in different countries. An example of this is called Reverse Innovation (see Harvard Business Review), a process by which a firm modifies a product or service, let's say, for India or China. Thus, by using the globalization approach to innovation, you can expand the innovation cycle and cut internal innovation costs at the same time.
If you're already manufacturing in Latin America, let's say, you may be ready to look at China. If you're already in China, it may make sense to move further inland in China or shift some of your strategy to Vietnam or Malaysia. Maybe you want to look at moving distribution from Northern Italy to Serbia. Regardless, we look at the entire process of the supply chain from sourcing optimization to shipping and distribution. Because we know countries supply chain advantages and disadvantages, we can provide innovate solutions to accelerate and take cost out of your global supply chain. Key examples of challenges might be:
CEO FOR HIRE
When a firm relocates to a different political, cultural and economic environment, the learning curve and associated costs can be daunting. The USA market, for example, is a very challenging start-up environment, despite global media portrayals to the contrary. Lombard Global provides an executive or team of executives with strong leadership and diverse business backgrounds who can project a new operation towards stability and subsequent growth in a relatively short period of time. What would take us three months to accomplish could take the foreign national or firm in transition years, untold lost dollars or complete failure.
Case Study: An East Asian firm decides to expand internationally by establishing offices in the Dallas Fort Worth Metroplex. The client "exports" home country managers, employees and even sales trainers. As so often happens with other firms who employ this strategy across the world, even Global Multinationals, the operation starts to unravel and is on the brink of imploding. Lombard Global employs a strategy of 1) immediately correcting glaring issues 2) providing a period of stability and 3) preparing the company for growth. Because Lombard Global is a generalist, it eventually replaces itself with senior industry experts who are in a better position to take the operation and firm to the next level. The client redeploys all manufacturing and distribution to China and is now in the planning phase of opening retail location there.
On a micro basis, some of the major tasks accomplished were: the establishment of a true global banking and point of sale partnership, the establishment of a local advertising and public relations agency with global, business relevant clients, the hiring of a global corporate structure and tax attorney team (USA and home country expertise), the establishment of a local warehouse and global supply chain service provider. The client then relocated home country senior management to Dallas. Lombard Global handled all residential and commercial real estate transactions, construction and maintenance.
EXECUTIVE VP FOR HIRE
One of our senior staff will run departments in Sales and Marketing, International Sales and Marketing, Operations, or Finance. Lombard Global will make an immediate impact to your goals and/or top and bottom lines.
Case Study: A global middle market professional services and technology firm headquartered in the UK (operations in India, China, US, Singapore, The Netherlands, 700+ clients, 500+ employees) hires Lombard Global to head up operations in Texas and the south central US marketplace. We acquire new business for them faster than any sales individuals have in their history; and it's accomplished initially with a client who received the largest VC-backed funding amount in 2011, (the entire USA).
GLOBAL SALES AND DEPARTMENTAL DEVELOPMENT
Sales staff and infrastructure are different all over the world. Smart global players learn local customs and laws, hire as many local people as possible and integrate locally. No longer should firms try to jam their corporate and home country cultures and ideals into the expanded region. Depending on the country or region, however, exporting home country talent and culture might be ideal.
Today's marketplace demands an increasingly accelerated pace of development to keep up with the competition. Firms must now rely on their organizations and processes to access specialized talent and expertise in multiple locations and on a global basis simultaneously. The key to juggle these demands is the ability to access manufacturing, supply chain, technology and business process resources seamlessly on a global basis to decrease cost and improve delivery capabilities.
Lombard Global implements a BestShore methodology and approach to efficiently transfer this type of work to an offshore development location or to temporarily transition global resources to the client site for project work. This can be in India, China, Costa Rica or Nebraska. A key component of our organization is the ability to provide offshore technical and business process services that help you leverage significant cost savings.
Through our BestShore Delivery solution, we combine global capabilities and industry experience with a strong alliance portfolio to help you: