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The tectonic plates of global commerce are shifting! What our global economy is now experiencing is more than just the cyclical effects of the GFC. For sometime now the Chinda (China and India) effect has been shifting the forces of competitive advantage from the more developed continents such as North America and Europe to China and India. These economic forces of National competitive advantage are also favouring other developing economies such as Brazil, Russia and South East Asia.
Australia is well placed to benefit from much of this shift however the important thing to remember is that your business needs to be ready to capitalize on this fundamental shift. While this trend will gather momentum over the next 30 to 40 years the pace of the shift is now gaining momentum. The failure of many Nations to accept this shift will have big impacts on their economies. The opportunities for Australian SME’s go far beyond selling these economies our natural resources.
I believe our Governments need to realise that while mining, farming and tourism have been great income earners for the Australian economy, over the next 50 years, we need to develop industries in areas outside mining, farming and tourism in order for Australia to remain competitive for future generations.
As a result of these National shifts in competitive cdvantages and the risk of Australia eventually exhausting its natural resources, I believe that Australian SME’s should:
In the strategic planning that our integr8 Group team has been doing through our Boards of Advice with Clients we have been factoring these predictions into their Strategic Plans and we would advise all SME’s to give serious considerations to the structural changes taking place in the World economy.
Written by Jason Titman, 4SME
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