Global mindset journal

GMI Journal

First Week

From these videos, I have learned a lot of information concerning the Global Mindset Inventory (GMI). GMI can be defined as an assessment tool that was developed by Thunderbird in order to help determine the ability of an individual to influence other people as well as organizations. GMI is designed in a manner that will measure the Global Mindset profile of the survey-taker using a scientific framework that has been verified that contains specific sets of attributes as well as characteristics. There are three main types of GMI, but I would like to discuss and develop Global Intellectual Capital (GIC) the most.

In business, GIC represents or reflects global business savvy (GBS), cosmopolitan outlook, and cognitive complexity. GBS comprises the knowledge of conducting business transactions as well as developing strategies that can be used to minimize risk in a business. Also, it comprises knowledge of supplying business goods as well as services to other parts of the world. Cognitive complexity, on the other hand, comprises developing problem-solving skills as well as the ability to grasp concepts that can be used to enhance business performance. Lastly, a cosmopolitan outlook enables people to learn about culture from different parts of the globe. This will enable people to interact with others freely, thus minimizing conflict that emerges due to cultural differences.

Also, from these videos, I have learned business models and their types. Business models are plans that an organization might develop in order to make more profit. According to the professor, this involves determining the product an organization is supposed to sell in large quantities. There are several types of business models that I have learned; that is B2B, C2C, C2B and B2C models.

Second week

Several reading assignments teach the fundamentals of Strategy. According to one of the weekly required readings ‘The execution trap’, the accompanying instructional note, examination collection, and show transparencies are available to improve learning outcomes. Value generation and dissemination, economic benefit, ability to pay, and suppliers' marginal utility are some of the fundamental principles introduced in Competitive Advantage. The concept of competitive identity has significant relation and impact on global intellectual capital.

Cognitive complexity involves one being capable of assessing knowledge and connecting it to what one previously comprehended. To get a competitive edge, one needs both emotional and competitive skills that are intimately linked to human capital. Relationships and competitive advantage are intertwined (Ghemawat & Rivkin, 2014). Gendered capital ties competitive advantage. Gender affects structural money and competitive advantage. Confounding intellectual resources has minimal effect on competitiveness. This may be true if human capital indirectly impacts comparative benefit through relationship capital. Employer gender and age affect a company's significant advantage. More so in young males. Women have a higher impact on a company's organizational competitiveness than men.

People, not things or businesses, drive global intellectual capital. Global intellectual capital transforms people's behavior, relationships, dreams, and ways of living and working. Brimm is the leading recorder of the new global cosmopolitan outlook reshaping and re-creating work and personal life (Ghemawat & Rivkin, 2014). Emotional energy and eagerness to participate in a global context. Diversification of ideas and activity is reflected positively. Global human capital is a mentality. It demonstrates the manager's capacity to operate to build trust with individuals from different countries.

Business savvy individuals have a deep awareness of their industry and a high degree of technical ability. Becoming an expert in your industry is a continual way of teaching and exploration, collaboration, problem-solving, and expanding understanding (Martin, 2013). They've had a firm grasp of commercial intelligence from the get-go. However, organizations are better able to respond to disturbance, experiment, satisfy consumer expectations, prevent costly waits, and, in some cases, destabilize a trade themselves when people possess the above-listed talents and collaborate across specialties.

The readings use dynamic graphics to help readers understand complex concepts. To be cognitively sophisticated, one must evaluate new information and relate it to what they've already learned. When it comes to the workplace, those who are business-savvy are well-versed in their field and possess excellent technical skills.

Third week

A strategy map is a graphic that presents a consistent cause-and-effect relationship connecting strategic aspirations. The video taught me that it is a powerful element in the balanced scorecard approach that helps leaders deliver how Global organizations establish value by promoting strategic topics such as completion or potency. They enable corporate leaders and corporations to describe their strategy to representatives, thereby enhancing intelligence and service in the strategic rule.

Corporate social accountability or responsibility is an administration idea whereby international organizations integrate cultural and environmental matters in their marketing operations and interactions with their stakeholders. According to professor Gibson Stephen, its types include; ethical obligation, patriotic engagement, economic stability, and environmental responsibility. Social responsibility enables global organizations and representatives to leverage the corporate support at their determination to produce adequately. In addition, precise corporate social accountability arrangements encourage general cognitive assurance and guide to more prominent fertility in global business.

Shared value refers to strategies and working methods that intensify the competitiveness of the global market while concurrently promoting the financial and cultural requirements in its areas. Some examples of shared value include the social prosperity of communities through fiscal protection, affordable shelter, adequate nourishment, public wellness, and environmental administration. Shared values enable global corporations to generate economic accomplishment by inventing an advantage while simultaneously satisfying the obligations of the worldwide fellowship. Shared values facilitate cognitive perspectives and systems that help executives develop a feeling of intimacy in global business.

Fourth Week

​​ The business model is an interconnected series of perspectives that encapsulates the entire organization and its value creation strategy. It also connects the internal activities and resources with external resources that form the user's disposal to create a unique value. The video on Dynamic capabilities taught me about the three general concepts which include desirability in terms of the customer value propositions and understanding what the customers require, feasibility that helps to understand what resources you have or you can create and viability which implies the cost structure for meeting needs or the unmet needs.

In addition, Dynamic capabilities rely on learning, integration or coordination, and the reconfiguration processes which rely upon enhancing the Global intellectual Capital. Dynamic capabilities enable organizations to adjust to the daily changing conditions of the market. Because of this, they are therefore strategic and organizational routines through which firms get new resource configurations as markets evolve.

The categories of dynamic capabilities include seizing which helps to address threats and opportunities through convenient experiences that allow exploitation and creation of competitive advantages. Further is sensing that helps in assessing and recognizing threats and opportunities and managing that helps in regulating change by complementary resources and reconfiguring change and the capabilities in the daily operations of the firm to augment them.

According to professor Stephen Gibson, ambidexterity in an organization helps firms to explore new resources and exploit existing resources. It is associated with organizational performance at a higher level. In the video we know that he also emphasizes the role of individuals that results in the effectiveness of an organization through establishing ambidexterity in an organization. In addition, it helps a firm to get on exploring new ideas and opportunities. It is also the ability of a firm to obtain steady innovations thus improving the current business.

Fifth week

The major concern in this week’s video is how a small young company builds an industry giant. The companies utilize disruptive innovation. They do this by sustaining innovations, upgrading, and doing cool features or even colors. They also have to understand what the simple low customers would just be low-cost alternative costs. The bigger enterprises begin to over-serve customers adding costs that no individual wishes to pay for. Although the disruptor improves, its products appear to more people and by the time the company realizes the disruptor would have already taken over the market (Alexandros, 2018).

For instance steel mini-mill and the large mill that had been dominated. More recent disruptors include the Toyota car model which improved on its indulgence features. The only way for the bigger enterprises to be competitive is by initiating their own disruptor’s innovations and to be successful they must treat the project as a different entity with varied prospects and ask what job clients require to get done. Segment clients by job and not by size of the market or populations.

They should also develop a basic low-cost solution to always get the job done. Disruptive innovations create new markets and will shape existing ones. To achieve growth and a vast changing you should apply disruptor innovation. The idea of disruptive innovation is that most improved companies tend to overserve their customers for instance delivering a product that is than what a customer wants (Alexandros, 2018).

Disruptive innovations open up opportunities for low-cost producers to come in at the low-end market and serve them. The minimal then develops capacity over time and develops a competitive environment. In conclusion, disruptive innovations should be applied more to enable and enhance market growth.

Sixth Week

From the videos for the last week, there is a lot of information that I have learned concerning the Blue Ocean Strategy Wine Industry. This is an industry that is based in the United States that has been manufacturing wine for the last century. From these videos, there are some videos that the viewer is supposed to ask him or herself. For instance, as professor Roberd said, what has made this industry be in the market for all this period of time. In this case, the view can relate the very first week video and this week in order to develop an answer to this question. For instance, one of the week one videos is about business models. Business models as stated above are strategies that are developed by a business organization in order to maximize profit as well as ensure high-quality products. In this case, the Blue Ocean Wine Industry has been producing high-quality wine since it was established. This has made the industry have more customers, thus maximizing the chances of the company to have more profit.

The other strategy that this industry has been using for all these times is the business-to-customer (B2C) business model. This is the process of selling goods and services directly to the customers without having a middle person. This type of business model improves the relationship between customers and the service provider. In this case, the industry has been valuing as well as supporting its customers. When customers are considered in this way, the chances of them to remain reliable customers to the industry are very high.