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ams, mastering technology is another central part of this action. With the help of technology, a manager will be able to direct and control operations on diverse scopes and scales. More importantly, since everyone has access to technology, how a manager leverages technology for competitive advantage will make the difference. In a world fraught with intensive competition, ideas become the ultimate power that makes a company stand out. In order to be recognized and chosen by customers, a company has to be creative and do things special. A manger's responsibilities must include encouraging and stimulating new ideas and techniques. To this end, he will look for new markets, customers, and allies with the purpose of generating new revenues and reducing costs.
In the field of finance, globalization has compelled managers to make their decisions in the shadow of uncertainty. Numerous forces affect international capital markets. As the markets become more and more integrated, the changes in one market will induce chain reactions that will eventually sweep all the markets. One of such an example is the Asian currency crisis that happened in 1997, which is still affecting the world’s economy at this time. On the other hand, as the world moves toward common standard of financial governance and market valuation, new opportunities have arisen for international financial operations.
Financial managers must look for innovative ways to manage risk. In every global company, corporate financial managers will have to deal with the cultural and legal differences among countries to protect corporate assets and earnings. This requires that they have to take bigger roles in their companies’ decision-making process in order to develop effective strategies that make the most of an uncertain situation. At the same time, accelerated innovation from financial service industry has given rise to arrays of resources for international financing. Keeping pace with the changes in the financial tools and effectively making use of different financial productswill be an important part in corporate financial manager’s work. In financial service industry, globalization has triggered new operation standards. The emergence of Citigroup has demonstrated an example of one-stop shopping for financial products, which has combined different kinds of financial services such as banking, insurance, brokerage, and investment banking. But again, bigger is not always better. Instead, introducing new services, tailoring individualized solutions to customers’ needs, and inventing more options for customers to access may lead to success. There are always new ways to compete, and managers should never give up finding those ways.
For a future manager, tackling the global economy is an inevitable task. In addition to the knowledge international business, he must have such skills as leadership, communication and cooperation, and organization to take the responsibility. As the leading school in global management issues, Sloan will equip me with cutting-edge business knowledge and skills thatwill help me understand and anticipate the expectations of international guests and business associates. Also, the school's international environment will give me first-hand exposure to how people of different cultures think, act and communicate. These upgraded knowledge and skills, I believe, will pave my way to a global player in my future career.
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