Tuesday, July 24, 2007
Small Business and Globalization Pro's & Con's
We have heard a great deal about globalization over the last few years. What we don't hear very much about is how it has impact the small business community. What are the opportunities that you have experienced first hand? What are some of the negative impacts that you have had to deal with and how have you dealt with them. Where do you see globalization taking your industry.....your business? Please share your experiences and your real time on the ground wisdom with this community. This is meant to be a forum for discussion and new ideas that will help the small business community succeed in this new information age. We learn from each other.
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5 comments:
I believe that Globalization is good for financial markets because there is access to external financing for corporate, national and subnational borrowers.
Joela Orsini
Participation in globalization for the small business community became possible with the evolution of technology. We are actually in a better position than the larger companies because it is easier for us to implement the necessary changes that are required to stay competitive. We also have access to a larger marketplace through the internet. This is great for the service and consulting sector. I am not sure how it plays out for the retail and manufacutring industry. Any thoughts?
Is gravity good or bad? I think the answer is it depends. Gravity is--globalization is. I think that whether we like or not--the abilty for people to connect globally is here. The abilty for consumers to do research is here. We need to do a better job than ever ensuring that we are "relevant" to our customers, shareholders, and employees because the world is flat. One of the greatest professional perks for me last year was interviewing The World is Flat author Thomas Freidman. He said, "You cannot protect yourself to prosperity." I agree with this. If globalization is here, we must network more than ever, ensure that we understand our customer's long term needs better than ever and finally be clear about how we are "special"--In a global world with all these options, why should I be the choice? A great question for a company to ask. A great question for individuals within organizations to ask.
While the ability to access a global customer base became available with the advent of technology, small business is handicapped by government regulation. When dealing with exporting there are many legal aspects to consider, requiring more resources than domestic business does. It's not just the cost of complying with the regulatory requirements. You have to find out what they are, familiarize yourself with them and make sure you are compliant. Since you're dealing with government regulations the penalty of not complying can be severe.
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