In a globalized world, how do you manage your company’s diversified portfolio of businesses?
If you’re in the US, that’s where your company is located, and you’ll want to take the time to understand the nuances and the challenges of managing your portfolio in the face of evolving global competition.
In this article, we’ll take a look at how you can leverage the tools and resources of your company and the global landscape to make the best of a challenging and challenging market.
Identify your business niche You need to be able to identify the niche you want to be in.
You don’t need to reinvent the wheel here, but you will need to understand and be comfortable with the business requirements and constraints of your particular business, the nature of your customers, and the nature and scope of your work.
If you are a technology company, you’ll likely need to define what technologies are in your portfolio.
If your company has offices in Europe, you may also need to consider how you might be able make use of European laws to protect your technology interests.
If, however, your company isn’t located in Europe or is located outside the US and your global footprint is relatively small, you might want to consider whether the risk of litigation is worth it.
If not, the first step is to identify your business and the type of company you want.
Understand your customers and the world You may be tempted to simply focus on your own company’s products, but this approach doesn’t make sense in a global marketplace.
Your customers and customers’ needs are constantly changing.
You may not know your customers well enough to understand what they value, and your customer acquisition and retention strategies may not be the best.
Instead, it’s important to think about your customers in a broader context.
The following example illustrates how the business of geoscience can benefit from the expertise of a global team of geophysicists, who work in a variety of fields and are all focused on their respective areas of expertise.
Identifying your business risks As your global operations grow, you will inevitably have to manage risk.
This risk is a major driver of your performance, and it can be very difficult to identify and manage.
For example, your geospatial operations can suffer if your global network is disrupted by a natural disaster or other unforeseen event.
You can also be exposed to the risk that your operations are not in compliance with federal or state laws, or your operations may be not in the best interests of your users or the public.
You will want to assess the likelihood of your operations not being in compliance and then take the necessary steps to ensure that your network is in compliance.
You’ll also want to identify risks that might affect your bottom line, and these include the following: Product liability: If your geoscientist-developed technology is not in use in the world, you risk being held liable for any damage that may be caused by it.