July 10, 2008
News & Opinion: GLOBALITY Blog #3: You're Not Just Competing for Customers
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You're Not Just Competing for Customers
In the era of globality, we will all be competing with everyone from everywhere for everything. I want to talk about what everything means.
Customers, of course. The big multinationals from the West and Japan -- the "incumbents," as we call them -- suddenly find themselves competing with the "global challengers" (based in the rapidly developing economies) for customers in the challengers' home markets, in the incumbents' home markets, and in every other market around the world.
Commodities, too. I'm talking about bauxite and aluminum, palm oil, shipping containers, iron ore, natural gas, cotton -- every raw material that's needed to run a business could suddenly become scarce or pricey.
Talent is another big consideration. Human resources used to be mostly about recruiting (or poaching) the best people for the slots you needed to fill, then doing your best to keep them happy and motivated. Now it's different. There's a real scarcity of specialized talent. Some employees don’t want to live and work where companies need them. And, in many countries, there just aren't enough people with the right skills to run factories or manage services.
Everything also includes: capital, intellectual property, brand awareness, press coverage, real estate, equipment, partners and suppliers. You name it.
Almost everything is up for grabs. Almost nothing can be locked up.
With the cost of fuel skyrocketing, you may not even be able to book a flight from wherever you are to wherever you want to go!
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Thanks to Hal, Arindam, and Jim, authors of GLOBALITY for hosting our blog this week! If you're interested in learning more about the book and/or the authors, check out their website.
About Dylan Schleicher
Dylan Schleicher has been a part of the 800-CEO-READ claque since 2003. Even though he's stayed on at the company, he has not stayed put. After beginning in shipping & receiving, he joined customer service and accounting before moving into his current, highly elliptical orbit of duties overseeing the ChangeThis and In the Books websites, the company's annual review of books and in-house design. He lives with his wife and two children in the Washington Heights neighborhood on Milwaukee's West Side.