IN an increasingly complex world where emerging markets will offer the most attractive growth prospects in the coming years, companies that embrace a wider diversity of backgrounds, genders, perspectives and, above all, ways of thinking — not only in local markets but also at corporate headquarters — will have an advantage.An understanding of local consumer tastes and customs, as well as the sophistication to engage with business counterparts in these countries will increasingly represent a passport to sustainable performance.To build and develop the next wave of multicultural leaders with the skills and capabilities to excel in global business, companies should follow three approaches.First, executives must understand the dynamics that are reshaping the global business environment — an environment that is at once more volatile, uncertain, complex, and ambiguous (VUCA) than ever before. Then, they must re-evaluate their efforts to attract, retain and develop the next generation of l...
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