Despite a company’s size, the ability to think globally is critical, especially for today’s business leaders. Global Millennials, the next generation of business leaders, will have a significant influence on the future of business.
Businesses running domestic-only operations (for now) still need capable, global-minded and equipped leaders. That’s because, according to Small Business Trends, already over half (58%) of U.S. small businesses have international customers, with even more (71%) planning to expand.
The gig economy, technology and the ability to access people – and customers – around the world is only getting easier and it’s inspiring a need for leadership at all levels who “get it” and can go global with the business.
But, what does it mean to “think global?” For most people, especially millennials, they’re already thinking this way.
…due my ability to live and work in other countries
…being global means more opportunities for jobs and education.
…shaping the future is up to me vs. government.
Global Millenials For Global Business
Millennials, like their kid sister generation, Gen Z, have grown up during troubling times. Depending on which end of the birth spectrum they were born on – the millennial generation is widely acknowledged as those born in the early 1980s through the mid-1990s. They have grown up knowing school violence, war, and economic uncertainty. Despite all of that, they are aspirational by nature and have a humanitarian view of the world. In fact, research commissioned by Western Union found that 57 percent of millennials see themselves as global citizens rather than the citizen of any one country.
Which is a good thing, because the business world is going global, too. Technology has enabled virtually every market in the developed and undeveloped world to be accessible, to a certain extent.
“The world is changing and there is a new economic power shift driven by a new generation of global citizens. They are shaping the future and inspiring others to do the same. They are redefining globalization to one of ‘personal globalization’ where the pursuit of limitless cross-border movement, cross-border digital communication, and creative lifestyle drives new economic power,” said Western Union President and Chief Executive Officer Hikmet Ersek in the Business Insider article covering the survey findings.
“These inspiring future shapers are the leaders of tomorrow and are looking at how they want the world to be, not only for themselves but for all. Global Millennials are made up of all kinds of future leaders—entrepreneurial, corporate, political, and social influencers,” Ersek said.
Additional key findings in Western Union’s global study, “Globalization: A World View of the Future,” include:
- Seventy-one percent (71%) of millennials feel they are better off financially due to their ability to live and work in other countries.
- Eight-six percent (86%) feel their ability to live and work in other countries will unlock opportunities for a better job and education.
- Eighty-eight percent (88%) want to participate or have their say on future matters of global and national significance.
- Seventy-one percent (71%) believe that shaping the future is up to them as individuals, rather than governments.
Global Millennials are out to change the world. They look for causes and employers that align with their own. In addition, they’re looking for the skills and expertise to drive the change they wish to see and impart on the world.
How Executives Are Inspiring Global Change
There are success stories abound – from Getty Images, the go-to platform for those in need of professional, responsibly sourced photography, to global distillery giant, Diageo, to a Philadelphia-based water technologies and solutions business, SUEZ Water Technologies & Solutions – of companies and leaders positively influencing their own businesses but also the greater good with their global mindsets.
Leaders are in a unique position to share their view, and their businesses, with the world. It’s not necessarily the companies driving globalization – it’s the people leading them. Lizanne Vaughan, vice president, and corporate counsel is behind Getty Images’ commitment to diversity and integrity. She is specifically interested in how their products fuel the international conversation about media and how news is sourced and shared today.
Similarly, behind Diageo’s committed inclusion policy is Timothy Chow, who serves as general counsel for the company’s Latin American and Caribbean and global duty-free businesses, as well as global sales and global compliance. And, SUEZ is able to explore new territories and navigate international regulation thanks in part to Robert Shoemaker, chief compliance officer.
Leaders today, regardless of whether or not their businesses are operating globally, yet have global tasks. To name a few, executive agenda items today include:
- Corporate Social Responsibility
- Diversity and Inclusion
- Global Expansion
- Regulation and Compliance
To prepare for the conversation, it’s not just about the ability to think globally. The ability to act globally is what counts. That takes knowledge and preparation.
Personal Transformation Through Global Engagement
A top-ranked Executive MBA program tailored to develop business leaders who have a genuine sensitivity to the ethical, socially responsible, and sustainable aspect of a global society.
Global Executive MBA: The Career Path to Global Impact
Global Executive MBA programs are tailored for leaders who have a desire to learn how to balance people, planet, and profit to build a more sustainable future for everyone.
A Global Executive MBA provides the core MBA discipline. Students experience diverse cultures and economies to better prepare them for business operations – on an international scale. Students manage real-world business challenges while thinking responsibly and on their feet. It prepares them for the roles Vaughan, Chow, Shoemaker, and countless other inspiring individuals have found for themselves. It empowers them to be the change they envision for the world.