Globalization: It’s not a zero sum game
If China and India are getting richer, does that mean we’re getting poorer? Absolutely not.
The United States is no longer the fastest growing economy in the world – this distinction has been passed on to emerging countries like India, China, Russia and Brazil. This is natural: young, emerging economies grow faster than more mature, developed economies. Given these new entrants, we can continue to prosper in the global economy, but we have to take a new approach.
One way is to focus on selling goods and services to the millions of people in these countries. They are hungry for consumer goods and increasingly have the means to buy them. But that’s a small piece of the puzzle. We also must continue to offer goods and services they cannot produce and which they value.
Thus, to be successful, we have to innovate faster than the Indians and Chinese can replicate. Our high growth areas will be based upon high technology, knowledge and complex new products and services. These will cover a wide variety of services and solutions. Developing cleaner energy sources in the face of global warming is also an exciting arena for innovation. Finding applications of nano-technology and personalized medicine are other areas of interest, to name a few.
What does this mean to you? As a business person, you need to understand the impact of globalization on your industry, your company and your career. The Weekend and Evening Programs offer many opportunities through the core curriculum and electives to explore these impacts so you’ll be prepared to be successful in the global economy. You can design a global curriculum to meet your own career goals.
OneMBA has a more targeted focus – to train global managers who are leading people and organizations located around the world. And we do that in ways that no other school can touch. Read why I think OneMBA is the only executive MBA that’s truly global.
As business leaders, we need to build the industries of the future while emerging countries replicate the industries of the past. We need to focus on what we can do that they cannot.
