why Global and Cultural Awareness is important for a financial controller?
Answers
Answer:
You can observe cultural differences in the smallest of actions. When working with people from different cultures, you learn to look at their behaviour without making assumptions that are based on cultural identity.
Explanation:
The companies that will see growth in the coming decades are mastering how to do business across cultures.
Our economic development will forever be defined as our ability to succeed internationally. PwC forecasts India’s real annual GDP growth until 2050 at 8.9 percent, Vietnam’s at 8.8 percent, and China’s at 5.9 percent. The list of fast-growing emerging markets goes on and on. The U.S. forecast is a meager 2.4 percent, comparable with most Western economies. The domestic companies that are likely to see incremental growth in the coming decades are those that are not only doing business internationally, but that are developing the strategic skill set to master doing business across cultures. Cross-cultural core competence is at the crux of today’s sustainable competitive advantage.
If one day you’re asked to manage a supply chain in Malaysia, the next day you’re managing your virtual team in China, and the next you’re optimizing your company’s call center in India, you know that it’s just not possible to be an expert in every culture or geography in which you do business. What is possible is developing the mindset of a globalist — or, in other words, mastering cross-cultural core competency.