Blowing Up Borders: Embracing a Multistakeholder World

Blowing Up Borders: Embracing a Multistakeholder World

As the author of Today’s Superpower: Building Networks, I am constantly fascinated by how interconnected our world has become. The notion of fixed borders is increasingly anachronistic in today’s digital age. In my book, I explore the idea of transcending traditional boundaries—geographical, cultural, and economic—that have historically constrained businesses and innovation. By adopting a multistakeholder approach, where diverse perspectives and collaborative efforts converge, we can drive unprecedented growth and innovation; this is why I am an evangelist of the alliance and partnership industry. I believe it is the future. With the rise of the internet and digital technologies, startups can now access global markets and talent pools without being limited by their physical location. The McKinsey Global Institute reports that cross-border data flows now generate more economic value than the global trade in goods. This digital connectivity enables startups to operate and collaborate globally, transcending physical borders (Manyika et al., 2016).

Data Flows Through Borders; So Should Entrepreneurs

Collaboration between various stakeholders—entrepreneurs, investors, governments, academia, and companies —is essential for fostering innovation and addressing complex global challenges. We need to work together and even more than that. 

Individuals need to blow up borders. A study by Endeavor on unicorn founders reveals that successful entrepreneurs often leverage their networks to secure funding, find talent, and gain strategic advice. These networks facilitate collaboration across borders, bringing together diverse resources and expertise.

The study highlights stories from unicorn founders who have leveraged their global networks and diverse backgrounds to build billion-dollar companies. According to the study by Endeavor, these founders typically have a background in STEM fields, with 61% majoring in science or engineering during their undergraduate studies. They tend to avoid traditional consulting and major firms, with only 20% having worked at elite employers. Instead, many gained experience across different functions like sales, marketing, and business development, and experienced various stages of company growth, providing them with a well-rounded perspective that is crucial for success. Furthermore, 55% of top U.S. unicorn founders are immigrants or second-generation immigrants, demonstrating the importance of global perspectives and diverse networks in entrepreneurial success (Endeavor, 2023)

You will be misunderstood. We live in a world that is, right now, transactional, shaped by a siloed industrial era with rules and processes that have been followed for decades. Jobs like accountant, financial advisor, or engineer are well-known and respected. Saying you want to be a scientist, then a salesperson, then a marketing professional, and finally end up as a CEO sounds absurd and unconventional. Be ready for that. However, the data supports this approach; it helps to build transformational businesses and craft a vision that is uniquely yours.


One of the CEOs I admire, Vas Narasimhan of Novartis, supports the importance of experimenting with different positions in different departments. Narasimhan has worked in commercial areas and marketing, as well as spending most of his time in R&D across four different business areas. This multidisciplinary exposure enabled him to make better decisions.


“Don’t underestimate the importance of getting multidisciplinary exposure. Most people get worried when they have to make those jumps. I’ve had a career at Novartis where I’ve worked in commercial areas and marketing areas—spent most of my time in R&D, worked across four different areas of the business—and with that diversity of experiences, it enables you to make the right decisions.”


Conclusion


Blowing up borders challenges us to rethink traditional best practices and career paths. In our rapidly evolving world, which differs significantly from the post-war era, it is essential to adopt an interdisciplinary approach. By integrating diverse fields of expertise and fostering collaboration among various stakeholders, we can better navigate the complexities of the modern global landscape. Embracing this multistakeholder model allows us to innovate more effectively and adapt to the ever-changing demands of our time.

And whenever you can’t change your environment to gain this unfair advantage, partner up and build your ecosystem with complementary organizations.

References


  1. Manyika, James, Susan Lund, Jacques Bughin, Jonathan Woetzel, Kalin Stamenov, and Dhruv Dhingra. “Digital Globalization: The New Era of Global Flows.” McKinsey Global Institute, February 2016. https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/creating-an-innovation-culture.
  2. Endeavor. “Unicorn Founder Pathways.” Endeavor, 2023. https://endeavor.org/stories/unicorn-founder-pathways/.
  3. Ishak, Waguih. “Creating an Innovation Culture.” McKinsey & Company. Last modified September 28, 2017. https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/creating-an-innovation-culture
  4. Narasimhan, Vas, Jorge Conde, Vijay Pande, and Sonal Chokshi. “a16z Podcast: The Science and Business of Innovative Medicines.” January 13, 2019. Podcast, MP3 audio, 59:02. 

 

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