Why is developing transnational knowledge important?
In this current world, it is vital for individuals to be aware concerning transnational knowledge. The reason is because transnational firms have offered exiting chances which incorporate prospects that enhances growth and prosperity. In this case, it is critical for individuals to apply strategies that relate to transnational knowledge.
To succeed in transnational strategy, it is mandatory to expand on the core approach internationally and to ensure that countries embrace global strategies. This knowledge is beneficial when it expands on business across the globe. This is by contributing to progress of manufacturers and fulfilling their competitive demands (Barne, Jamie and Eric 18). It is vital to promote transnational knowledge because it boosts capability of people to work as members in their societies.
Furthermore, these skills enhance education and training when they upgrade income supply among individuals and eradicate crime. In this regard, improvement in transnational knowledge has contributed to key functions of changing demand in labor markets and improving various economies across the globe. Transnational knowledge has also facilitated new demands among citizens who need to advance their skills to facilitate operations in their daily lives. Clearly, this knowledge has lead to formulation of related firms that include the Royal Dutch Shell.
Transnational knowledge has also increased competiveness among global managers. A global mindset attributes to knowledge, awareness and skills that can be shared in different contexts. It incorporates intercultural competencies that benefit people from different diversities. The basic intercultural skills incorporate cultural values, promoting good relationships and enhancing team work. The three capitals in a profile of a global mindset involve social, intellectual and psychological capital. The global mind set enables leaders to add sense in the way that they relate in their contexts. Global mindset inventory is an evaluation tool that aid leaders to influence groups, individuals and organizations across the globe.
Barnes, Trevor J, Jamie Peck, and Eric S Sheppard. The Wiley-Blackwell Companion to Economic Geography. Chichester, West Sussex: Wiley-Blackwell, 2012. Print.
Global Wake Forest. ‘What Is a Global Mindset? | Global Wake Forest | Wake Forest University’. N.P., 2014. Web. 5 Dec. 2014. <http://global.wfu.edu/expand-your-global-mindset/what-is-a-global-mindset/>
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