Successfully Managing a Global Business in Good and Bad Times
Publication:
The Empire Club of Canada Addresses (Toronto, Canada), 6 Nov 1997, p. 150-167


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Successfully Managing a Global Business in Good and Bad Times


Some key issues critical to the information technology and communications markets. Sharing the speaker's experiences as the Canadian CEO and now Chairman of a large multinational company doing great things in Canada. The lessons learned by a global company such as Ericsson about competing successfully in a business arena defined by a constant state of flux, incredible challenges, abundant opportunities, growing competition and rapid technological innovation. How Ericsson has managed to succeed and the role that Canada has played in this success story. The Ericsson experience as an example of a successful Canadian initiative. Ericsson as a microcosm of the world, and how that is so. A discussion of some of the strategies which have ensured Ericsson's growth over the past few years. A brief overview of the global telecommunications technology and market trends playing a determining role in how Ericsson is managed both for the short and long-term. New opportunities that present themselves almost daily. The continuing improved outlook for the entire telecommunications industry. Two major trends currently shaping the industry's evolution in both domestic and international markets, with illustrative examples. Answering the question of how companies such as Ericsson going to meet the challenges of these trends. Ericsson's three-scenario vision of potential future market opportunities, entitled "2005--Ericsson entering the 21st century," and a description of that vision. Gaining a better understanding of the ever-changing market requirements, or user requirements as a continued focus on research and development as the key to continued success. A few words about Ericsson's parent company, LM Ericsson, headquartered in Stockholm, Sweden. Ericsson's relentless commitment to R&D. The effects of commitment to R&D generally. The success of Ericsson's Montreal-based research unit, and the entire Canadian operation--some details. Accomplishments of the sales and marketing operation. Some history to Ericsson in Canada. The exceptional quality of life in Canada. Comments on the importance associated with each individual CEO's long-term vision of his or her Canadian operation. Some of the problematic issues that Canada faces. The status of the education system in Canada. The lack of computer scientists to fill job openings in Canada today. A reiteration of Ericsson's strategic focus in the ever-changing world of telecommunications. This recipe contingent upon the recruitment of talented and creative technical employees. Canada as a preferred site for significant investment.