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Discussion Questions                                                            

Why is developing transnational knowledge important?

Transnational knowledge is a vital subject in the present world. Currently, all key sectors in the world have expanded and have international rivals (Barne, Jamie and Eric 18). This is based on the fact that transnational companies have provided an exciting opportunity for prospects of continued prosperity and growth. In such a situation, the knowledge of transnational strategy is critical. The following steps are required for success: the development of the key strategy, global expansion to internationalize the core strategy, and globalization of strategies by incorporation of the global strategy across countries. Knowledge is being developed and used in varied ways. For instance, it has resulted in the expansion of global commerce, and increased levels of competitive demands on manufacturers (Barnes, Trevor, Jamie, and Eric 18). Developing transnational knowledge is vital because it improves the ability of individuals to work as members of their communities, training, and education to reduce crimes, increase social cohesion rates, and improve distribution of income. Developing transnational knowledge has played a major role in changing labor market demands in economies in the entire world. It has also contributed to new demands on citizens who require more knowledge and skills to be in a position to function in their daily lives. For instance, transnational knowledge has contributed to the establishment of transnational companies, for instance, Royal Dutch Shell. It has also enabled global leaders to be competent.

What is a global mindset?

The term global mindset is used to refer to various skills, knowledge, and awareness that can be transferred from one context to the other (Global Wake Forest). A global mindset entails intercultural competencies or skills that are beneficial when individuals from varied cultural perspectives or backgrounds interrelate. The popular intercultural skills are being aware of your own cultural values, understanding and adjusting when other persons are motivated by varied cultural values, observing and listening to varied modes of relationships, and being in a position to develop good relationships and work teams with other people. The profile of a global mindset involves three capitals and they include intellectual capital, psychological capital, and social capital. Leaders with increased levels of Global Mindset have the capability to make sense and behave in manner based on the variations in the context. They can easily be able to interpret nonverbal and verbal messages from individuals of varied cultures. Additionally, global leaders show increased levels of flexibility, which manifests as the capability to act in a different way in various circumstances and contexts. Leaders with increased levels of Global Mindset have the capability to select the correct approach in varied situations or contexts. Global mindset can be evaluated using the Global Mindset Inventory. GMI is the premier evaluation tool developed Global Mindset Institute to help in finding out a globe’s leader capability to influence other people, organizations, and groups.  Organizations whose main objective is to attain competitive advantage in the present world have had an opportunity of making use of global mindset in developing internationally competent leaders for the coming years.

A good example of global mindset was Lalit Ahija (Global Wake Forest). He started his career as a global manager by establishing Indian operations for both News Corporation and LG Electronics. He was also employed at Target’s headquarters in Minneapolis and he stayed in the United States for the first six months. His success would rely on understanding both Indian and American culture.

Works Cited

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/>