Read the full script of Module 2, Episode 5 of the Global Growth Master Class below. Want to get certified on global expansion? Simply click here to access the complete course today.

In order to reach global scale, companies need to adopt a new mindset and strategy that takes into account the local market and enables local teams to turn ideas into operations while being mindful of the potential downsides of disruption. The successful companies in the Global Class have a culture of best practice sharing and mechanisms to uncover local nuances that can have a significant global impact. This bidirectional approach to innovation, where insights and best practices are shared between local markets and HQ, is key to reaching global scale.

This balance involves considering the local culture, customer behavior, and market trends when making business decisions. It also requires empowering local teams to make decisions and take ownership of the business, while still ensuring that the company goals and culture are being upheld. By finding this balance, Global Class Companies are able to successfully launch and grow in global markets, leading to long-term success and growth at a global scale.

Balancing local market nuances and company values is a challenge faced by many fast-growing companies

Culture is crucial for success, but localizing the business to fit different cultural norms across multiple international markets while still staying true to the company's core values can be difficult. The company way may not resonate universally in different markets if it is built only with the first market in mind. The Global Class mindset recognizes this challenge and strives to find a balance between the local way and company principles.

Uber, for example, more closely clung to the company way of doing things during the earlier phases of its global expansion. As we will discuss in a later module, the company had a comprehensive playbook to adhere to. This often involved pushing local regulators and disrupting the local transportation ecosystem which, in most cases, burned bridges and affected their ability to successfully expand. Over time, the company realized that they needed to take another approach.

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Their lack of success against Didi in China and Grab in Indonesia, made the company realize their approach of causing disruption and forcing the company way wasn’t going to be successful in every global market. The company’s shift in thinking was put on display with the company’s expansion in the Middle East. The company acquired local player Careem and let the company operate semi-autonomously, under its existing brand, leading to successful penetration within the region.

NOTE: Don't miss out on the next episode! If you want to continue learning about global expansion strategies and dive deeper into the course material, simply click here to access Module 2, Episode 6 of the Global Growth Master Class.