A few weeks ago, I was offered a chance to deliver a speech on Globalization, to a group of Leaders – including the Indian Ambassador to the United States – her Excellency, Ambassador Meera Shankar. Ultimately, my speech was not chosen, however it received some great reviews - so I thought I’d share it with you all. Below is the transcript of the speech, in its entirety.
Globalization, Education & Career Choices
What does Globalization really mean? I’ve heard it’s defined as the constantly evolving process of integrating economies through an International network of exchange or trade – normally this involves foreign direct investment, capital flows, migration, and the spread of technology.
Truth is, it’s one of those words that means many things to many people – depending on who you are, what you’ve seen heard, experienced, where you grew up and perhaps even where you live right now. I was born in Montreal, Canada – to Nigerian parents. I grew up in Nigeria with occasional stints in London, England. When I completed my under grad degree, I moved back to Canada, where I lived and worked for several years, before moving here J. So, in my case, Globalization represents Opportunity – for me, for my family, my loved ones. Opportunity to accomplish great things – and I know I’m not alone in that mind set.
I’d like to tell you 2 quick stories – just 2 stories, about friends and colleagues, people just like me, from different places around the world, who share my perspective.
Let me start with my good friend Raj – he’s just a little older than me, but looks years younger. He was born in Delhi, India. When he was a boy, he and his friend Anil dreamed of getting a good education and perhaps someday moving to the U.S.A – the land of Opportunity. Everything he’d heard about America indicated that it’s a place where one can get a great education and accomplish great things – do big things. When he was about 15, Raj’s sister met and married a talented computer scientist and they moved to the state of California – his whole family was the envy of friends & relatives, because this was seen as an opportunity for family members to also visit America.
Raj and Anil both graduated with honors from Universities in India. Raj moved on to the U.S and secured a job in the Financial Services sector while Anil ended up securing a job working for a U.S based firm, in Delhi. They stayed in touch and after a few years, Anil also moved to America – at the urging of his friend. Now, let’s fast forward 10 years to the year ’07. Raj works right here in Seattle as a Marketing Manager – for a well known technology firmJ, and Anil has a great job with GE, in Atlanta. Both men became leaders in their own right and learnt how to think and work with a Global mindset. They’ve also visited home on a number of occasions, over the past 10 years – and noticed that “Globalization” had resulted in plenty of new opportunities, back in India. They’d talked about moving back to Delhi, in order to be close to their family and friends. The prestige of living in America has long since worn off, however the life in America is peaceful, predictable and still bear’s some promise.
However – in 2008, Anil took the plunge and moved back home, with his wife and children. The financial crisis in the U.S affected his organization and he wasn’t seeing the same sort of opportunities that he’d envisioned – just a few years earlier.
He’d heard that he could get up to 75% of his U.S salary, in India and he was keen to test the waters, back home. To his surprise, both he and his wife found local companies which matched their U.S salaries and provided great growth opportunities for them, professionally. Now he calls Raj every week and urges him to come back home.
The winds of change are blowing – globalization has resulted in new career options and a new mind set for many aspiring leaders, around the world.
My final story is a little more personal. It’s about me and a childhood friend of mine – his name is Desmond.
Desmond and I met while we both studied at the University of Lagos, in Nigeria and we became close friends. Growing up in Nigeria – I’d always dreamt of living and working in North America. Unlike me, Desmond had no desire to live & work abroad. He understood the benefits but felt that he wanted to be a big fish in a small pond – and for him that meant working for an Oil Company or a foreign bank. You see, in Nigeria, working for an International Oil Company or a Bank, was seen as the best possible job that in Nigeria. That’s the form of Globalization that still represents opportunities for millions of Nigerians. It was either go abroad or work for a foreign based company – the pay was better and the trappings of success were very attractive.
Desmond first worked for Nigeria /American Bank, a bank with strong ties to the United States. He soon determined that a foreign degree would provide even more opportunities with these Intl Companies, so he left Nigeria and pursued an MBA at Imperial College, London. He did well and was offered jobs in the UK and Lagos, he chose Citi Bank, Lagos Office – sticking with the mindset that Intl Companies in growing markets/economies, offered the best opportunities. The MBA helped and he did well, moving twice to Mgt positions in other International banks, in Nigeria. Working for a Global Organization helped him develop as a leader; he learnt how to think globally, whilst working locally.
However, over last few years he began to notice a trend. Indigenous companies – banks & oil companies have caught on to Globalization and are aggressively extending their operations to other African & European Countries. Desmond and several of his colleagues, stifled by the monolithic and increasingly conservative approach of multi-nationals, started looking elsewhere for new opportunities, locally.
They were shocked to find that several Indigenous or local companies offered much more attractive financial incentives than they’d received foreign-based companies provide – something that was totally unimaginable just 10 years ago. Desmond soon jumped ship to a local bank, where he’s paid almost twice what he was making before and has the autonomy to negotiate big deals and lead increasingly important initiatives.
The winds of change are blowing – globalization has resulted in new career options and a new mind set for many aspiring leaders, around the world.
Clearly, the advent of Globalization has opened doors for aspiring leaders around the world – but that’s not all. One key result of the recent Global Financial Crisis is that large International Companies notably in the U.S have been forced to shed Jobs both here and abroad. Talented, aspiring managers, stunned by recent events are starting to re-examine their options and they’re finding that “first world” nations don’t necessarily offer the best opportunities.
I’ve been blessed to have a good career so far, first in Canada & now in the United States – however, there are thousands of others like Desmond and Anil who can now afford a lifestyle similar to my own. Globalization has reached the developing markets, local businesses are increasingly taking their products & services to International markets – that phenomenon will continue to grow, as more and more talented leaders flock to these smaller growth markets.
That’s why I believe Globalization, as I know it – provides some great career choices for aspiring leaders and that’s why I’m happy and honored to be a member of the University of Washington “Leadership” MBA Class of ‘2011.
Thank-you all very much, and enjoy the rest of the evening…..
