February 20, 2007 by globalbrands
It is said that the world has become a ‘global village.’ Let us see what we mean by the phrase ‘global village.’ As I understand it, it means the people have come closer to each other in the 21st century. The next question is how. I am of the view that it is the great strides in the advancement of science and technology which led to speedy, convenient and cheap communication between the nations. Internet is by far the most powerful communication tool, in my opinion.
Alongside the internet as the most powerful communication tool, we have made movement from one part of the world to the other fast, comfortable and hassle-free. Latest aero planes have surfaced on the sky. Cross border movement is increasingly becoming easy through liberal travel policies of the governments. Foreign investment from one part of the globe to the other has brought new opportunities for economic growth, employment, goods and services. China and India, for example, have had far greater economic growth and industrial expansion over the past 20 years than ever before. Nations in South Asia emerged self-sufficient and self-reliant. Europe entered a new era of mutual cooperation and support by forming the European Union.
Africa, the most under-developed continent, is also receiving increasing attention of the world powers and the world financial institutions.
The break-up of the USSR has given birth to several new republics that are now independent entities.
The trade and industry is expanding to meet the consumer needs of the 6 billion people on earth.
Today, the focus is shifting fast from the domestic markets to the international markets for producing and selling goods and services. The reasons could be multiple. Maybe, the domestic market is saturated. Maybe, the products are not meant for the domestic market. Maybe, the international market has greater number of consumers for goods due to each country’s own population segmentation into gender, income, age, culture, ethnicity, lifestyle, habits and interests.
Any brand can become global; it is just a matter of time and effort. Sooner the better if you are poised to succeed with your mission. What companies need are vision, innovation, and a burning desire to grow over the next 100 years.
Have a Day!
Mumtaz A. Piracha
President/CEO
Resource Management Group
Karachi – Pakistan
Web: http://www.rmgincorp.com
Email: rmg@rmgincorp.com
