Global Economic Dynamics: Implications for Business (International Days’ session)

From February 28 to March 2, IPADE hosted the 2018 International Sessions for the AD, AD-2, and D-1 programs at its campus in Mexico City. Hosted in partnership with The Wharton School of the University of Pennsylvania, the event provided current IPADE MBA Executive Education participants from IPADE’s various campuses with the opportunity to participate in a series of interactive sessions facilitated by visiting professors from Wharton. Additionally, students were able to interact with their classmates from other campuses while enjoying three days of learning, improving, and networking.

Professor Jonathan Doh, the Herbert G. Rammrath Endowed Chair in International Business at the Villanova University School of Business, gave the keynote session of the event, titled “Global Economic Dynamics: Implications for Business.” The interactive session engaged with the executives present, using breakout discussion questions to ground the ideas covered and apply them to the participants’ personal industries and businesses.

Dr. Doh’s keynote approached the topic from a more high-level perspective, assessing the changing cultural and economic dynamics that are impacting the world, including shifting demographics and the resurgence of nationalism/anti-globalization.

“How do we, as leaders, make sense of this world around us?” asked Dr. Doh. “How can we develop global leaders?”

Dr. Doh illustrated his points using the BRICs (Brazil, Russia, Indonesia, and China), focusing in on how South East Asia has outperformed the rest of the emerging economies following the end of the commodity boom as a result of the region’s stronger institutions, education system, and particularly the youth population boom. Dr. Doh particularly focused on the youth population boom, highlighting that birth rates are dropping around the world, with most advanced industrialized countries well below the rate of 2.1 births necessary to simply maintain their populations. However, life expectancy has increased, and people are living longer and working longer. As a result, the old cohort is increasing steadily in these nations, while the young cohort is declining. These trends are particularly present in developed nations, but are beginning to be seen around the world, with Africa being the only region that is expected to continue to grow into the future.

Concurrently, there has been a resurgence of nationalism and anti-globalization sentiments that has impacted the global trade agenda. This can be seen in the disintegration of the Trans-Pacific Partnership, the North American Free Trade Agreement renegotiation process, and the implementation of various protectionist policies around the world. The United Kingdom’s process to leave the European Union is a tangible and complicated example of this nationalism that will have a significant impact on the rest of the world.

In light of these challenges, what can we as business leaders do? How can we become truly global leaders? Dr. Doh used the rest of his session as an opportunity to present examples of leaders and companies that have successfully navigated these changes, including the leadership of Tom’s Shoes, Nissan, and The Coca-Cola Company, and the leadership characteristics that have allowed them to do so. According to Dr. Doh, the four characteristics of global leaders are the following:

• Passionate Advocate
• Cultural Integrator
• Curious Anthropologist
• Team Champion

In addition to the interactive sessions led by Wharton faculty, AD, AD-2, and D-1 participants were able to interact with their classmates from other campuses while enjoying three days of learning, improving, and networking. For more information on the 2018 International Sessions, click here.

Professor Jonathan Doh at IPADE Business School.