Globalization of business and the Third World: Challenge of expanding the mindsets

Globalization of business is bringing in seasoned competitors from the developed countries into the growing markets of the Third World. Consequently, the survival of local enterprises and entrepreneurs is being threatened. Third World managers need to develop a global mindset in order to take advantage of the changed new world order in business. Elucidates the notion of global mindset and examines some typical management training methods and techniques for their adequacy to develop this orientation among Third World managers. Discusses relevant cultural, organizational and macro‐environmental issues. Presents conclusions and recommendations for Third World contexts in respect of Western training methods and business school curricula for broadening the managerial horizons in this era of globalized business.