It’s easy for today’s corporate leaders to become transfixed by the demands of short- term operations and lose sight of important happenings outside the walls of their business, outside the walls of their industry, and outside the walls of the United States. When this happens, however, tremendous opportunities can pass right by unnoticed.
Planning for the future in today’s high-speed environment requires everyone to develop a predictive awareness and super-sensing capability of what is coming next. This means monitoring global trends and developing business foresight with an eye toward a long-term strategic view. New opportunities will come to those companies that see the future first and become future-ready by anticipating, adapting, and evolving ahead of the competition.
Globalization: old story, new challenges
From Wall Street to Main Street, the impact of worldwide markets is enormous. At the dawn of the twenty-first century, can we say full heartedly that the United States is the most competitive economy in the world? International competition is intensifying across the globe and we must continue to adapt and innovate to maintain our leadership position.
Increasing worldwide competition calls on us to respond more rapidly, innovate faster, and add more value. This is not only what is expected by American consumers but by the growing customer base overseas for goods and services provided by American companies and workers. How we respond to these challenges and opportunities brought on by an interconnected worldwide economy today will shape the prosperity of Americans for generations to come. Meeting this challenge requires creativity and commitment.
U.S. corporations have to make a conscious choice to compete globally. Over the last three decades the world has shifted from a collection of regional or national economies, to a truly global economy as a result of technology, trade agreements, lower tariffs, better transportation, and communication. The future lies in international commerce in both goods and services. So we need to start focusing on how to do it, how to collaborate with other countries, and how to actually make things happen. This requires corporations to change the ways they operate and transform into a globally minded organization.