Cultural competency

Abstract

In this industry, the proactive motivation for globalisation is obvious: both in terms of the business and the talent. With big players in the industry forming alliances with their international partners and small biotech companies outsourcing their activities off-shore (to countries such as China and India), the talent market has followed suit and gone international. While most of the motivations for outsourcing or forming an international alliance have principally been for financial reasons, biotech companies are increasingly pushed to recruit internationally due to the lack of competent and quality sources domestically. This creates a mobility of workforce and business across borders. For this reason, culture plays a pivotal role in 21st century business development, talent management, and effective communication across all industries.