What "a global mindset" means

Dear readers,

As you know, I really like cultural exchanges and open-minded (receptive to new and different ideas or the opinions of others; ouvert) people in general. Today, I have found for you a very relevant (having a bearing on or connection with the matter at hand, pertinente) definition of the expression “global mindset” and would like to share it with you.

WHAT “A GLOBAL MINDSET” MEANS

** mindset or mind-set (mīnd'sĕt') n. – definition from the website www.answers.com/

1. A fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations.

2. An inclination or a habit.

In employees, having a “global mindset” means not only the ability to communicate in other languages but also an attitude of mind : having an international perspective, the ability to overcome cultural barriers, sensitivity to different cultures and values (or cross-cultural awareness), the ability to adapt to and work effectively in different cultures and with people from different national cultures where there may be differences in hierarchy, authority, humour, attitudes to work...

**ability (ə-bĭl'ĭ-tē) n., pl. -ties.

1. The quality of being able to do something, especially the physical, mental,financial, or legal power to accomplish something.
2. A natural or acquired skill or talent.
3. The quality of being suitable for or receptive to a specified treatment;capacity

** perspective (pər-spĕk'tĭv) n.

1. 1. A view or vista.
   2. A mental view or outlook: “It is useful occasionally to look at the past to gain a perspective on the present” (Fabian Linden).
2. The appearance of objects in depth as perceived by normal binocular vision.
3. 1. The relationship of aspects of a subject to each other and to a whole: a perspective of history; a need to view the problem in the proper perspective.
   2. Subjective evaluation of relative significance; a point of view: the perspective of the displaced       homemaker.
   3. The ability to perceive things in their actual interrelations or comparative importance: tried to keep my       perspective throughout the crisis.
4. The technique of representing three-dimensional objects and depth relationships on a two-dimensional surface.

** overcome (ō'vər-kŭm') v., -came (-kām'), -come, -com·ing, -comes. v.tr.

1. To      defeat (another) in competition or conflict; conquer. See synonyms at defeat.      
2. To      prevail over; surmount: tried to overcome the obstacles of poverty.
3. To      overpower, as with emotion; affect deeply.

v.intr. To surmount opposition; be victorious

** sensitivity (sĕn'sĭ-tĭv'ĭ-tē) - n., pl. -ties.

1. The quality or condition of being sensitive.
2. The capacity of an organ or organism to respond to stimulation.

** cross-cultural (krôs'kŭl'chər-əl, krŏs'-) adj.

Comparing or dealing with two or more different cultures: a cross-cultural survey; cross-cultural influences on an artist's work.

** awareness noun

The condition of being aware: cognizance, consciousness, perception, sense 

** effectively (ĭ-fĕk'tĭv-lē) adv.

1. In an effective way.
2. For all practical purposes; in effect

How “a global mindset” is developed

Training courses and above all international experience at business schools and in companies, for instance (for example) in multicultural project team, are among the ways “a global mindset” is developed, even if some hold that the true cross-cultural manager is born and not made.

** among (ə-mŭng') also amongst (ə-mŭngst') prep.

1. In the midst of; surrounded by: a pine tree among cedars.
2. In the group, number, or class of: She is among the wealthy.
3. In the company of; in association with: traveling among a group of tourists.
4. By many or the entire number of; with many: a custom popular among the Greeks.
5. By the joint action of: Among us, we will finish the job.
6. With portions to each of: Distribute this among you.
7. Each with the other: Don't fight among yourselves. See Usage Note at between

** To hold : To retain one's attention or interest

Why it is important for companies to have managers with a global mindset

With the integration of the economies of the European Union, European companies are working more and more closely together while cross-border mergers are taking place with increasing frequency. Companies are increasingly working in international alliances, for example to exploit technology through licences and other agreements, or because they source internationally and have international suppliers.

** closely adverb To a point near in time, space, or relation

** while conj. 

1. As long as; during the time that: It was lovely while it lasted.
2. At the same time that; although: While the grandparents love the children, they are strict with them.
3. Whereas; and: The soles are leather, while the uppers are canvas.

** cross-border adj. - transfrontalier

** merger (mûr'jər) n.

1. The act or an instance of merging; union.
2. The union of two or more commercial interests or corporations.
3. Law. The absorption of a lesser estate, liability,right, action, or offense into a greater one.

** increase (ĭn-krēs') v., -creased, -creas·ing, -creas·es.

1. To become greater or larger.
2. To multiply; reproduce.

v.tr. - To make greater or larger.

Barriers between markets are being broken down at ever greater speed in the rich countries of the O.E.C.D. as well as the emerging economies of Southeast Asia, China, Mexico, Brazil... This means there will be increasingly fierce competition for firms on their domestic markets as these markets open up to global competition and, simultaneously, innumerable opportunities in overseas markets for companies that are ready to export or invest abroad. Globalisation enables companies to choose to relocate production from high-cost countries to low-cost countries. It has been estimated that the value of the markets open to global competition will be worth about USD21 trillion by the year 2000, whereas their worth was of USD4 trillion in 1995.

** to break down: défoncer, démolir

** OECD: abbr. Organization for Economic Cooperation and Development – In French OCDE

** as well as conj. And in addition: courageous as well as strong.

prep. In addition to – aussi bien que

** Emerging Market

A foreign economy that is developing in response to the spread of capitalism and has created its own stock market. Analagous (similar or alike in such a way as to permit the drawing of an analogy) to small growth companies, emerging markets have high potential as well as high risk.

** fierce (fîrs) adj., fiercer, fiercest.

1. Having a savage and violent nature; ferocious. See synonyms at cruel.      
2. Extremely severe or violent; terrible: “the fierce thunders roar me their music” (Ezra Pound).
3. Extremely intense or ardent: fierce loyalty. See synonyms at intense.      
4. Strenuously active or resolute: a fierce attempt to escape.
5. Informal. Very difficult or unpleasant: a fierce exam.
6. Savage or threatening in appearance.

** domestic (də-mĕs'tĭk) adj.

Here : Of or relating to a country's internal affairs: domestic issues such as tax rates and highway construction. Produced in or indigenous to a particular country: domestic oil; domestic wine. 

** open up : Become available or accessible 

** enable (ĕ-nā'bəl) tr.v., -bled, -bling, -bles.

1. 1. To supply with the means, knowledge, or opportunity; make able: a hole in the fence that enabled us to       watch; techniques that enable surgeons to open and repair the heart.      
   2. To make feasible or possible: funds that will enable construction of new schools.
2. To give legal power, capacity, or sanction to: a law enabling the new federal agency.
3. To make operational; activate: enabled the computer's modem; enable a nuclear warhead.

** worth¹ (wûrth) n.

1. The quality that renders something desirable, useful, or valuable: the worth of higher education.
2. Material or market value: stocks having a worth of ten million dollars.
3. A quantity of something that may be purchased for a specified sum or by a specified means: ten dollars' worth of natural gas; wanted their money's worth.
4. Wealth; riches: her net worth.
5. Quality that commands esteem or respect; merit: a person of great worth.

adj. 

1. Equal in value to something specified: worth its weight in gold.
2. Deserving of; meriting: a proposal not worth consideration.
3. Having wealth or riches amounting to: a person worth millions.

** trillion (trĭl'yən) n.

1. The cardinal number equal to 10¹²
2. Chiefly British. The cardinal number equal to 10¹⁸.

This movement is being accelerated by the revolution in broadcasting, communications and computing which increases the possibilities for information to pass over borders unimpeded. Companies can instantaneously reach customers worldwide via the Internet, for instance. Multinational are exploiting such new technologies as videolinks and interactive computers to enable teams of designers throughout the world to work together on the same projects, which means that they can talk with each other as they work on the same images. Such methods also lead to valuable time gains as engineers working in Asia pursue during America’s nighttime the work done by the US engineers during their daytime. It also permits these companies to profit by input of skills and knowledges from different parts of the world. All this to provide competitve edge.

** broadcasting
IN BRIEF: The process of transmitting radio or television signals on airwaves.

** pass over v

Definition: ignore, disregard
Antonyms: attend, heed, take care, tap

** to pursue v.intr. 

1. To follow in an effort to overtake or capture; chase.
2. To carry on; continue.

** input (ĭn'pʊt') n.

1. Something put into a system or expended in its operation to achieve output or a result, especially:
   1. Energy, work, or power used to drive a machine.
   2. Current, electromotive force, or power supplied to an electric circuit, network, or device.
   3. Computer Science. Information put into a communications system for transmission or into a computer       system for processing.
   4. Computer Science. A position,terminal, or station at which input enters a system.
   5. Any of the items, including materials, equipment, and funds, required for production.
2. 1. The act of putting in; infusion: a steady input of fuel.
   2. An amount put in.
3. Usage Problem.
   1. Contribution of information or a comment or viewpoint: a discussion with input from all members of the group.
   2. Information in general.

** knowl·edge (nŏl'ĭj) n.

1. The state or fact of knowing.
2. Familiarity, awareness, or understanding gained through experience or study.
3. The sum or range of what has been perceived, discovered, or learned.
4. Learning; erudition: teachers of great knowledge.
5. Specific information about something.
6. Carnal knowledge.

** an edge : A margin of superiority; an advantage

Another factor is the increasingly vast amounts of capital which are increasingly mobile, so investors are ready and able to invest in any part of the world in ventures whose likely rate of return is attractive.

In such a context of global markets, companies which do not have a global mindset will become increasingly vulnerable.

** venture (vĕn'chər) n.

1. An undertaking that is dangerous, daring, or of uncertain outcome.
2. A business enterprise involving some risk in expectation of gain.
3. Something, such as money or cargo, at hazard in a risky enterprise.

** likely : Probably

** Rate Of Return

The gain or loss of an investment over a specified period, expressed as a percentage increase over the initial investment cost. Gains on investments are considered to be any income received from the security, plus realized capital gains.

** attractive (ə-trăk'tĭv) adj.

1. Having the power to attract.
2. Pleasing to the eye or mind; charming.

** vulnerable adj Liable to succumb, as to persuasion or temptation.

Hope you have found this article interesting! Thanks to let me know your comments and remarks about it! I have tried to give you explanations in English to enlarge your vocabulary. Hope this will be helpful for you!

With best wishes,

Ceraulen