Innovation is the only way to beat the recession crisis, get jaw dropping bottom lines and create a skyrocket demand for jobs, thereby creating employment. This in turn boosts the country’s economic growth. However, there is only one challenge – you need all the resources and capital support to create innovation – or maybe you just need Jugaad
Internet seems to be the perfect channel for finding business opportunities and connecting people and ideas across the world, but accessing it won’t guarantee you the massive results you dreamed of. According to the International Labor Organization (2009), 70% of cross-boundaries business ventures fail due to cultural differences. Quite a big percentage I would say. Globalization spread its capital across the world, selling clear Mission statements on markets and well-disposed Principles inside for shaping employees behaviors. Even so, in terms of money only in Europe and United States 25 billion dollars are lost every year, as a result of inefficient Cross Cultural-Communication.
There is an old chestnut saying “if a tree falls into a forest and nobody hears it, did it happen?” Following this saying, if we don’t talk about cultural differences, does this mean they don’t exist?
We have constantly opening new offices and recruit (put together) more international teams than ever in the human history to follow global opportunities. And this is why cross cultural interaction are of ever growing interest for us.