While we were sleeping, a truly monumental event took place.
The four main developing powers in the world – Brazil, Russia, India and China held the first ever BRIC summit. Their hope is to challenge the economic dominance of the West – namely the U.S. and Europe – and to challenge the dollar as the main global currency.
For now, the differing agendas and styles of these countries are a major obstacle to creating a united front. But mark that date, June 16, 2009, as a day when the “American Century” more formally transitioned into the 21st century of global economic balance.
Meanwhile…on the home front
Partnerships among nations is a real big bite to swallow all at once. But I believe that partnership strategies will move full speed ahead all around our businesses.
Not too long ago, outsourcing was both a way to save money and a dirty word. That tainted reputation resulted from the movement of service and manufacturing jobs to India, China and Mexico among others.
What many may not know is that over 80% of all U.S. outsourcing is sent to other U.S. companies. All sorts of non-core business functions like; Marketing and Sales, Human Resources and Accounting are sent to firms more proficient in those areas.
Outsourcing is simply one type of strategic partnership.
Done right, partnerships can help participants create and capitalize on new economic opportunities, become more competitive, grow and create jobs.
Another partnership type, joint ventures with complementary businesses, can open up new revenue possibilities, increase your available talent, and lower costs. The same can be accomplished via a strategic alliance.
As the economy begins to find its bottom, and the lull of sunny days are upon us – put your business under the microscope.
Are you reaching all of your potential targets? Are you maximizing the revenue from your existing client base? Are you missing certain products and services that can generate more income?
If so, believe me you’re not alone.
You might be the answer to another company’s need and vice versa. It’s up to you to find out.
Posted by: Steve Banis
