Since we are a more inter-connected world that ever before, the interest in global continues to rise. This does NOT mean that more manufacturers are outsourcing as the opposite is the current trend; however, companies need to be aware of the impacts of global – and so their interest in global is on the rise!
There are also more terrorist attacks than ever before, and so of course, people are more interested in what’s going on in the world. To some degree, people are less likely to travel the world yet they are more interested in what’s going on around the world. On the other hand, I just got back from Australia and New Zealand – seeing the Great Barrier Reef and Sydney’s elaborate ferry system is quite different from reading about them. Traveling in a smart way can still open doors and build relationships.
News gets out almost immediately with instantaneous communications and social media. For the most part, there is no time to put a spin on information as someone already has filmed it. In some respects, it has made it a more transparent world – and drives more interest. For executives, they have to be concerned about where their people, plants, suppliers and customers are located as it will certainly have an impact on their business. Do you even know what your footprint looks like?
In today’s Amazon-impacted world, people expect immediate access to the products and services they desire yet they also want the lowest cost. It doesn’t matter where it comes from as the world is our oyster; however, when thinking about how to deliver rapidly with less cost, less cash tied up in intransit inventory and higher quality, it makes for an interesting – and challenging – equation. A comprehensive view must be taken inclusive of taxes, transit times, risks and the like.
The bottom line is that executives have no choice but to pay attention to the world if they want to thrive. The key is to find a way to stay on top of the trends, likely impacts and opportunities out there. How are you building this critical aspect into your career and your business viewpoint?