The globalization of the economy is presenting many new challenges in business and public policy.  In developed economies, companies find themselves in changed markets facing new competitors, and public policy that was largely developed to manage local economies is proving naïve as industries restructure on a global basis.  In developing economies, there are tremendous growth opportunities but patience is required to form new partnerships, and to develop new business models to serve local needs and that do not leave the poor behind.

Much good can come of global industry restructuring for business and society, but it’s a new world and businesses, governments, and social enterprises are all encumbered by rules and norms of the past.  For example, it is clear to most businesses that the developing economies are the growth markets of the future, but faced with constant pressure for short-term performance many have been reluctant to invest in international growth, particularly in developing economies.   It is clear to most governments that industries are restructuring on a global basis, but encumbered by outdated constitutions and local public opinion, many governments continue to develop policy with a focus on domestic market structures, failing to facilitate international competitiveness.  It is clear to most NGOs that sustainable solutions to hunger and poverty require working business models, but the social damage of profit-driven business ventures littering the history of international development has left deep-rooted skepticism of business.

This space is intended as a place to dialogue on the development of business and public policy in the context of global industry restructuring.  At times it will perhaps seem eclectic as it moves from business issues such as acquisition strategies to social issues such as food security.  However, all will be connected directly or indirectly with the challenges presented by the globalization of markets, the consequent restructuring of industries, and the need for new models to serve both business and societal needs.  As a bi-product, perhaps a broad spectrum of readers will find common ground some of the time, the basis for healthy debate at other times, and at all times a greater appreciation for alternate perspectives and the need for business, government, and social enterprise to work together.

Next Post:  Imperatives for companies in restructuring industries.