globalEDGE Blog Archive November 2008
This is the final installment of globalEDGE's series on global entreprenuership, in celebration of the Global Entrepreneurship Week.
The Impact of Globalization
With the rise of transportation and communications technology, globalization has come and dramatically shifted previously stagnant notions of comparative advantage. In the past, local producers could count on being the most efficient option, because the costs of storing and transporting goods made any long distance selling unfeasible. Now, markets are restructuring because of technological advances, and nations have put in place various restrictions and regulations - for better or worse. Regardless of your opinion on government regulation of markets, legal barriers to trade are a reality facing today's business leaders, and knowing how to successfully navigate the complex web of legal issues related to trade is essential to any successful business endeavor.
A recent episode of the Oprah Winfrey show highlighted Time Magazine’s 2008 Invention of the Year: 23andMe, a Google-backed startup introducing a retail DNA test. The available-for-purchase personal test provides information on health & traits as well as ancestry, for the user to “see your genes in a whole new light.”
Welcome to the fourth installment of our special globalEDGE Series on Global Entrepreneurship. Today we'll focus on probably the most important aspect of international entrepreneurship, or even business in general: people. The human element of entrepreneurship, as we have discussed previously, is what drives innovation and creation. In this post, we'll specifically discuss how the people you meet and work with are key to expanding your business internationally, how to find those people, and how to keep them interested in working with you.
As the executives of the Big 3 in Detroit - General Motors, Ford, and Chrysler - fly in their private jets to Washington in order to ask for public funds, they should consider this: a bail-out may not be the best way to revive the auto industry! The problems being faced by the Big 3 are not only a result of hard economic times, but also an inevitable conclusion of poor business practices. There are a number of things the auto industry must do to get itself back on track, and a check for $25 billion isn’t one of them. Such a measure will only prolong the inevitable collapse.
This is the 3rd post in a 5 part series on global entreprenuership, in celebration of the Global Entrepreneurship Week.
Now that you've decided to expand your small business internationally, you have to make some big decisions about what you are going to do next. You'll have to make judgments regarding many important questions, such as: Where is the best place to sell your product? What markets are particularly receptive? What is the best way to market your product in different regions? Is there a good supplier, or partner near your international target market? These questions are all fundamentally about strategy.
The latest event in a recent upsurge in pirate activity off Africa’s coast was also the biggest attack yet. A Saudi Arabian supertanker carrying $100 million worth of oil was commandeered by pirates 450 nautical miles away from the Kenyan coastline. This attack was unprecedented in both the size of the target and its distance away from shore, and as such represents a higher level of boldness on the part of the pirates.
Welcome to the second installment of our special series on global entrepreneurship in celebration of Global Entrepreneurship Week! Yesterday, we discussed the emerging role of small businesses in a globalized market and the different factors that are important to consider when deciding to begin exporting. Today, we'll focus on one of the factors that have made it much easier for small business to conduct business abroad: the growing accessibility of technology.
Today marks the first day of the first annual Global Entrepreneurship Week! As we mentioned last Friday, our celebration of the general themes of entrepreneurship will take place within the specific context of the global marketplace. This is the first article of a 5 part series on global entrepreneurship which will focus on the importance and accessibility of becoming an entrepreneur on an international scale. As always, we intend the blog to be a part of a conversation - not a lecture - so feel free to comment.
Beginning Monday, November 17th, the globalEDGE International Business Blog will feature a special series in recognition of Global Entrepreneurship Week, an annual event dedicated to inspiring the next generation of great minds to focus their passions and pursue them through entrepreneurship. You can check out more information about the week itself at unleashingideas.org/theweek. In our celebration of the week's general themes of innovation and creativity, we will focus on the international aspects of entrepreneurship, both the obstacles and the rewards, by collecting useful resources on key topics.
Specifically, the topics are:
- how international entrepreneurship is important and within reach
- the importance of technology as an enabling force for international expansion
- the role of knowledge and research in the international decisionmaking process
- the process of networking, making deals, and forming partnerships across borders
- the logistics and legal issues involved in trading internationally
Join us next week in what we hope to be an exciting and informative event!
In my mind, the Disney brand conjures images of children’s characters and animated movies. Of course there is more to the brand than nostalgia but the company is looking to expand their reach even farther with high-end retail. A New York Times article, “Disney, by Design,” author Brooks Barnes, discusses the goal of Disney to become a “lifestyle brand.”
Even in rural areas, people from around the world are beginning to embrace the practicality and convenience of the internet and cell phones. In Charkhai, Bangladesh, the mother of three who needed surgery was able to use mobile internet to schedule an appointment in the capital city, Dhaka, about 140 miles away.
The shipping container is a simple tool that has drastically transformed the face of international business. There’s not a whole lot too it, really. It’s just a big box with some paint and doors. But no other object has been at the front-lines of globalization quite like shipping containers. To this end, BBC has undertaken a year-long project in which they are tracking the contents and movements of one container as it travels from port to port. It recently dropped off a load of fine whisky in Shanghai, and has since been loaded up with clothing bound for the U.S.
Less than 15 years since the 1994 genocide, Rwanda is leading the world in its progessionist thinking about women. This is particularly surprising becase this East African nation lies in a continent that has been dominated by the rule of men. In Rwanda however, a country of 10 million with 55% women and 60% of the population below poverty line (based on gE statistics), the popular will is for women to drive the economy by filling ranks of Government.
World Time Server - provides current, accurate (atomic clock sync) local time around the world, including adjustments for daylight saving around the world!
Universal Currency Converter - for the top 85 currencies sorted by country name. Data based on live, up-to-the-minute mid-market currency rates.
Worldwide Metric Converter - for length, weight, pressure, volume, and temperature conversions.
World Electric Power Guide - helps you decide where you can and where you cannot use your electrical appliances in the world.
Worldwide Weather Station - for reliable and accurate weather information from around the world.
Online Newspapers Worldwide - find online newspapers by region, or individual countries.
Earth Calendar - a daybook of holidays and celebrations from around the world!
Aerial Photos From Around The World - stunning aerial photos from virtually every country!
These resources were discovered on the GlobeTrade website. Do you know of other useful global resources? Please leave us a note by clicking on the comments link, and we will add it to this list.
Election day in the U.S. is almost over, but how many Americans actually exercised their right to vote in this historic 2008 Presidential election, only time will tell. Based on past record though, the U.S. has one of the lowest percentages of voter turnout. Average election turnout since 1960 is only 54% in the U.S - that's just over 1 in every two people that are eligible to vote. In 2004, 60.1% of eligible voters in the U.S. cast their vote.
The answer is NO, but New York City is the closest! At least, that's what a recent report, The 2008 Global Cities Index, claims. This report is result of a research study conducted by The Chicago Council on Global Affairs, A.T. Kearny, and Washington Post.
60 cities, including the world's biggest & most interconnected cities, were ranked based on the dimensions of Business Activity, Human Capital, Information Exchange, Cultural Experience, and Political Engagement. Some of the highlights are provided below, but read the full report to find out which cities are bearing the brunt of the world's financial meltdown, where is crime the highest, and where is climate a major concern.