Global instability is growing, not declining. The world is less capable, not more capable, of handling such instability. What can companies, large and small, do to improve their success and that of all their stakeholders, despite war and instability?
By Mark D, Harris, MD, MPH, MBA, MDiv, ThM, PhD, DBA
Business has been international since before the Hebrew King Solomon imported peacocks from India (1 Kings 10:22). The Chinese traded all over East and Central Asia, Arabs bought and sold from western India to southern Africa, and the Vikings plied their wares from the British Isles to the Black Sea. The development of the blue water navy in the 1500s, including reliable time pieces and deep draft sailing vessels, opened the Far East and the New World to European traders. With technological advances in communication, transportation, finance, and production, business has become global at a volume and speed unimaginable to our ancestors (Hout et al., 1982).
All eight billion people on earth are consumers, but they are also producers. Trade used to be primarily local, and the farmers and craftsmen in a village and region provided almost all the goods and services needed. Family, friends, and other neighbors conducted business with each other, and little or nothing that a person possessed came from more than fifty miles away. Pricing could be flexible, with buyers and sellers negotiating on timing and price. During the recent financial crises, businesses and banks that primarily serviced Amish customers were more stable and even profitable than those seeking the highest rates of return. Contrary to the opinion of Gordon Gekko in the movie Wall Street, greed is not good.
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