Globalization. Heard of it?


Does Globalization Matter?

The business landscape is morphing faster than ever. Technology, including the big kahuna, AI, is bulldozing the business landscape. Letters on the keyboard are now sent internationally, instantaneously, and at a low cost. This, along with general world peace (for the majority), has opened doors to globalized business. Meaning that businesses can participate internationally. More than just locally, regionally, or nationally, but around the globe. Bigger market equals bigger scores. And the international market has just opened. There is untapped potential all around the globe.

For example, a local brick and mortar aviation MRO shop in Mentor, Ohio called Component Repair Technologies has just been acquisitioned into a strategic partnership with Safran. Safran is a multi-billion dollar revenue business headquartered in France. Safran’s question is with direct intention. They have sold engines to operators around the world, and intend to develop a regional repair network. Component Repair Technologies is planned to be the regional repair shop in North America. Safran is also building a facility in India and has facilities in Mexico and France.

Since I work for Component Repair I can tell you, how important leadership will be during this transition. Even the concept that I work for a French business seems a little off to me. The importance of vision and buy-in are at an all time high. Additionally, the complexities of international business are almost unfathomable for someone who does not have experience in that realm.

Leadership will be the key, and it starts with culture and purpose.


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