Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Distinguished Visiting Fellow at the Institute of Advanced Studies in the Humanities, University of Edinburgh, Scotland, publisher of www.GavdosPress.com and Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation
We have been in the midst of a fundamental and historic shift of how the economies around the world develop. With the collapse of communism, the centralized and state control model of the economy has also collapsed. Other socialist State models, i.e., Sweden, UK before Margaret Thatcher, have also collapsed. What we have now, however, imperfect it maybe, is the model of the “Free Market.”
This shift is occurring in parallel with two other sociopolitical expressions:
Smaller government, though the last couple years this seems to have moderated quite a bit
The need, indeed the demand by our society to provide assistance, protection, and distribution of economic benefits a “fair” way
When a decision is made to buy a business there is a fairly specific process you can expect to go through, especially when buying the “right” business. The acquisitions process involves several distinct steps and sub-steps that must be managed and controlled with extreme care and dealt with expertly and skillfully.
The general topic in this piece concerns the interaction between technology and culture. My particular slant will be to review the various sub-cultures that are contained in the general activity of technology-intensive durable goods manufacturing. This pluralistic approach also reflects the various roles and perspectives that I have played in that context.
Helping You With The Challenges of Business Management In An Incredibly Fast Paced Borderless Business World
Rapid change is an integral part of business life today. New management philosophies and tools are constantly being developed, while new technologies emerge at breathtaking speeds.
Today’s executives must constantly instill new vigor and flexibility into their enterprises in order to manage their companies forProfitably. To do this executives need instant and easy access to a full range of contemporary business management tools and models. Executives also need to develop skills in areas they would have never thought necessary just a few short years ago. Many things you learn today will be obsolete two years from now.
In the world of business nothing ever stays the same. Today’s competitive advantage may be copied by competitors and rendered useless tomorrow. Developing new products and entering new markets are two ways to maintain a competitive edge. But in a fast-paced market, imitators can often quickly follow: even patented items are difficult to defend in a global market. The globalization of commerce has stimulated a shift in thinking about competitive advantage. In many industries a competitive position can come from underlined organizational abilities, in others it could come up from a strategy model of financing, acquisitions, licensing, geographic expansion, or a mathematical model that enables you to integrate several of the above components of growth. Continue reading Dynamic Business Growth→
The international economy of the future will depend more and more on the development and application of new technologies and on our educational system.
How well we convert new scientific knowledge into practical benefits will have much to say about the growth of nations, the rise of living standards, and the well-being of the global population that is estimated to double within the next fifty years.
Yet it seems that our policy-makers and our educational institutions and the constituents they service are allergic to the accelerating rate of progress.
We live in a time when business strategies must be dynamic, flexible and responsive to the ever changing and fuzzy conditions around us. The success of a business depends, even more so today than ever before, on managerial leaders who think strategically and have a well-defined but flexible, proactive strategy formulated on not “enough” information much of which is “fuzzy” and they implement decisively.
Such decisive course is charted by leaders that understand the process of management and the basic elements of competition within a free market economy. They are intellectually agile, flexible persons who can anticipate change and respond smartly and timely to new realities.
During the years of my entrepreneurial activities we examined a couple thousand businesses in the USA and Europe that were failing to perform well and were in the verge of financial collapse. We looked for and identified the basic reasons that caused the underperformance of these enterprises and found the following basic but avoidable factors: The absence of bold thinking; The absence of strategic thinking; Proliferation of products not relevant or non competitive to the market; Plethora of employment non relevant to the competitive line of products that, correspondingly, created unnecessary high costs; Managers have become salary takers, devoid of any sense of entrepreneurship or competitive urgency. It was simple to conclude that management of such companies has abandoned any sense of such dynamic but flexible strategy formulation and, therefore, gradually move toward degradation and failure.
Briefly, if a business is to succeed must have a “dynamic” and “innovative” strategy developed and implemented by able and skillful decisive managers that understand the importance of having flexible strategies containing alternative components of action and further more understand the process of decision making for the effective application of the strategy.