The age of Indian MNC’s is here. This is one of major outcome of India’s integration with global economy. The main cause of success of Indian companies is our ability to strike global roots. As an individual, we have long tradition of striking roots across the globe.
Mr Aditya Birla of Aditya birla group first looked beyond India 30 years ago. Now as the globalization picked, company started getting 30% turnover from overseas. Company plans to increase up to 40%, by the end of decade.
According to the company the underlying reason behind this is, if you want leadership in any segment, then you should have global presence in it. Tata is the second group company, which has seen these potential. Tata has recently done lot of global acquisitions.
Indian companies have realized this, but still a long distance is needed to be traveled. For achieving this Indian company require global mindset. They have to choose, whether they want to be truly MNC or Indian company working abroad. To get success abroad they have to work on the strategy of act local and work global.
They should be able to adjust into the other countries environments. A true MNC is not only spread over global geographies, but it is the mindset to set the examples of global attitude, without letting go their roots. The second things companies employ should understand and respect the local habits and cultures.
Companies should take into consideration these entire things while giving judgment for employee’s merit or performance. The third challenge is to establish brand equity abroad. It is difficult to recruit the best, if you are not a well known MNC or a local player.
There is no easy way to achieve all this; Indian companies needs more time to be reconigsed abroad.
In some country’s Indian companies have good equity, but it has taken years of hard work, good performance and good employment practices. The fourth challenge is to recruit a pool of global managerial talent. It is long process, requires long recruiting, training and testing them in difficult situations.
A global manager must have the knowledge of historical and Scio-economic condition of country, where he works. Fifth and the last one is global commitment, to provide best, fast and accurate service.