External Organizations and Markets: The Mind of a Leader 1 (Enhanced DVD)
Leaders must understand the unique differences between the various territories in which they operate. Niccolo Machiavelli knew this, and expanded on the subject in Chapter 3 of The Prince. In this program, one part in the enlightening video series The Mind of a Leader, marketing expert Philip Kotler is joined by several noted specialists to explain how Machiavelli's insights can be applied to modern markets.
When any business looks to expand beyond its existing borders, the question of global processes contrasting with local customs will arise. The basis of this issue, as Kotler explains, lies in the idea that "“even if the company is global, all markets are local.” Building a presence in a new market requires some understanding of local cultural norms, of which the advantages and disadvantages must be weighed before any development begins.
Having prominent business leaders close to the new market plays a pivotal role in understanding and overcoming local challenges, which is why Macchiavelli's belief in rulers living in prospective new territories resonates so strongly with today's leaders, even after almost 500 years.
External Organizations and Markets: The Mind of a Leader 1