*Image from LoveIsTheLighter.com
Successful global companies share common traits.
Successful global companies don’t just happen. They are born from intentional and purposeful strategy, clarity of mission, disciplined focus and a whole lot of courage—starting right from day one. I was watching a little Harvard Business Review video recently that called out seven characteristics successful global companies have in common. HBR found from their research that it’s usually the internal capabilities of a company that make or break international endeavors, not just the external conditions of new markets. I did a little research on each of the seven traits and their most basic definitions so I could personally measure our own Fierce brand against them.
Seven characteristics successful companies demonstrate.
- Rectitude: Moral behavior, righteousness
Successful companies demonstrate ethical choices in the day to day management of their companies—from the small stuff to the really big stuff. Making the right choice and building a culture that understands what determines a right choice starts at the top and must be fully understood by every company employee. Establishing good core values can help guide employees when decisions are unclear.
- Aptitude: A natural ability to do something
Companies that succeed are the companies that do one thing or several things really, really well. Identifying what that thing is and staying focused on it is critical to long term success.
- Attitude: A settled way of thinking or feeling about someone or something, typically reflected in a person’s behavior.
Attitude is a part of every company—of the brand itself and how it’s perceived by its customers. A brand is more than a name, a logo, or a tagline. A brand is a person’s belief about a product, service, or institution. When enough individuals arrive at the same belief, an institution can be said to have a brand. In other words, a brand is not what you say it is. It’s what they say it is. A brand’s power (equity) is derived from the goodwill and name recognition that it has earned over time. —The Brand Gap
- Magnitude: Size
Not every successful global company is big in size—but the ability to scale with the proper logistics, distribution and network in place for growth is important.
- Exactitude: The quality of being accurate
This is something we talk about with clients every day—attention to detail at every level of the brand experience. This one thing can be the difference maker for a company being considered successful long term—and being capable of expanding internationally.
- Fortitude: Courage in adversity
This is a big one. We see this with our clients every day as they tackle difficult PR challenges, uncertain economic times and global political concerns that affect everyone. Being brave and having courage in adversity is key to true brand leadership.
- Latitude: Scope
Adapting to international opportunity is important when a company is looking to grow globally. Knowing what’s possible and being prepared to meet all the challenges along the way allows brands to have both a global footprint and more importantly, positive global influence.
You can watch the entire video here.
Are you thinking about taking your brand global? We invite you to brand fiercely with us. Reach out today at firstname.lastname@example.org.