Heralded by evolving-trends such as India’s rapid digitisation and China’s investment into Africa, trans-global disruption is afoot. Establishing cross-border connectivity is now a strategic priority for many businesses, with advancements to technology and opportunities in new markets proving to be a powerful impetus.
Business leaders must develop strategies to navigate global complexity, embrace opportunity and adapt to a new normal that increasingly hinges on connectivity.
Here are some insights into how.
Success without borders
While access to new markets and customers is the primary reason businesses expand overseas, there are a number of key ancillary benefits to going global. For instance, businesses expanding across emerging digital hubs like India and Indonesia also benefit from access to top technology talent.
Operating across diverse markets can also be a powerful driver of business innovation, with companies more likely to look at the same problem or product innovation across multiple technical, social and market contexts.
Even if an organisation lacks the resources to become multinational, it can still thrive by creating connections in today’s new environment.
Seoul shows how it’s done
One way is to engage with the sharing economy, in a similar way as the mayor of Seoul, Park Won-soon. He is leveraging the community trend known as “collaborative consumption” or “the sharing economy”.
Under his leadership, Seoul now offers free Wi-Fi in outdoor areas, and locals share bikes, houses, jobs, even dogs.
The scheme has found success through extensive public consultation by ensuring that the sharing services developed address the core needs of the city’s citizens. This has helped to alleviate the strain put on the city’s resources after rapid urban development spanning 30 years.
The scheme’s success in addressing the city’s resource scarcity, high cost of living and pollution is documented via the project’s website, Sharehub, which showcases the efficiency of combining public and private resources.
Since Park Won-Soon’s first forays into collaborative consumption in 2011, companies like Uber and Airbnb have catapulted the model to global success.
Operating on an international scale makes the connective infrastructure between an organisation’s locations all the more important.
Tools and processes are made significantly more complex by the barriers between operations, with obstacles including cultural, linguistic and legal differences. Even something as simple as the flow of time zones needs to be taken into account when considering how an international organisation’s decision-making process can be streamlined.
The significance of the network infrastructure which underpins this connectivity should not be underestimated when creating an organisational technology strategy.
As Network Function Virtualisation and other advanced technologies become key enablers of cost-control and flexibility, relying on multiple providers with varying capabilities and standards can undermine the advantages gained by moving away from traditional networking.
As in other aspects of an international business, organisations are best off finding a trusted technology partner which can curate solutions which meet their diverse networking needs.