How Global Leaders can Position Their Firms to Take Advantage of Technological Opportunities and Research Development (Essay Sample)

How Global Leaders can Position Their Firms to Take Advantage of Technological Opportunities and Research Development Student’s Name Institutional Affiliation Course Professor’s Name Due Date How Global Leaders can Position Their Firms to Take Advantage of Technological Opportunities and Research Development Global leaders define the success or failure of their companies based on the leadership efforts they input. Leaders should learn about the areas they want to operate and ensure they come up with effective strategies to help them grow. Global leaders can take advantage of technological opportunities and research development to position themselves competitively. Therefore, global leaders can emphasize physical infrastructure, information infrastructure, and human infrastructure to maintain a competitive edge in global markets. Global leaders should begin by analyzing and assessing transportation networks available in the countries they wish to expand or invest in. Transportation networks describe different modes that companies use to transport products or services or receive raw materials (Morris & Oldroyd, 2020). Leaders should analyze air, rail, roads, and ships and determine whether they will help them operate in different locations. For instance, companies in the modern era highly emphasize online ordering services and delivery services. Companies have to ensure that they can deliver products to their customers. If a person orders pizza, a company should deliver the product promptly. Therefore, global leaders have to analyze different markets to determine whether the transportation networks align with their expectations. In addition, it is paramount to access the availability of raw materials. Companies should invest in countries where they can easily acquire raw materials for their products. Companies, such as Kentucky Fried Chicken (KFC), are specific about the type of potatoes they can use to make their fries. Therefore, such companies have to determine whether they can easily acquire these raw materials in the different markets they work in. Assessing the availability of raw materials will also depend on transportation networks. Raw materials may be available but inaccessible, which will limit companies. Thirdly, global leaders should conduct continuous evaluations of different markets and their cultures. Continuous evaluation paves the way for leaders to have real-time information about the market and determine the best ways to enter this market. When conducting continuous evaluation, leaders should emphasize the use of data storage and processing initiatives to keep tabs on important information about the market and the customers. When customers purchase certain products, they leave crucial information about their preferences. They outline what they expect from the company and give the company essential feedback it can use to improve its position and its relationship with customers. The contemporary world pays a lot of attention to data storage. Different companies gain information about the different demographics of customers and their expectations. Companies should learn these details and use them when walking into such markets. Also, companies learn about different cultures and use this knowledge to acquire cultural competence. Cultural competence is an ongoing process which entails acquiring key information about different cultures and being able to work with people irrespective of their discrepancies. Conversely, global leaders should seek to harness available information on the media to learn about their new clients while using the media to market themselves, their products and services, and their reputation. Communication technologies make it easy for companies to reach their customers (Morris & Oldroyd, 2020). Technology has opened up different platforms to market products and reach a wide audience. People can market their products on different social media platforms, such as Twitter, Instagram, or Facebook and reach a lot of people. Therefore, global leaders must understand how to use communication technologies to build their reputation and market their products and services in e...