According to commentator Brad Stone, Amazon founder Jeff Bezos isn’t trying to kill the media business, but he may be trying to re-invent it and by doing so may be trying to race ahead of firms like Apple and Google.
Detroit ‘s bankruptcy is a warning that no city is too big to fail. Cities that fail have knock-on effects that impact business. Detroit is about $18 billion in debt, and will only be able to pay out a fraction of what it owes. Some media reports hint that it’s problems may lead to some form of federal bailout. But is this really likely? What are the likely impacts on business in the region?
Despite the world economic recession, small- and mid-sized companies are “going global” at an earlier stage in their development than ever before. Expanding overseas involves the careful consideration of risk and cost. What are those potential hazards? And what can be done about them? There are several issues that CEOs should consider when doing business internationally. Several critical ones are outlined here.
Both the time and place of 2013’s CEO Leadership Summit could not have been more fitting. In December, in the wake of the devastation of Hurricane Sandy and with the fiscal cliff still looming ahead, more than 100 business leaders from across the country gathered at the NYSE Euronext—an icon of free enterprise that later turned out to have been in the midst of a merger—to share ideas on navigating the challenges of the stormy global economy.
Former Florida Governor Jeb Bush, who some observers reckon will run for President in 2016, called for “stem-to-stern” immigration reform that “prepares a path to legalization as opposed to citizenship.”
For the mid-market company that is expanding internationally -- whether for the first time or into uncharted territory – identifying the right talent can be a challenge. In a 2012 Ernst & Young study of C-level and other executives in rapid-growth markets, 30 percent of respondents reported the need for a strategic hiring process in international markets. Intensifying the problem, according to the same study, is a self-reported knowledge gap in local culture and ways of doing business by more than half of the participants.
Some entrepreneurs believe employee empowerment is not just a buzzword but also a business strategy. Founder and CEO of ecommerce giant Rakuten, Hiroshi Mikitani, is a big believer that business must consciously develop a global worldview and culture before attempting international expansion. Rakuten, which also owns Canadian e-book creator Kobo and Buy.com, is giving Amazon.com its first serious competition in years. In his recent book, “Marketplace 3.0, Rewriting the Rules of Borderless Business” he sets forth a path for doing this.
Think a company needs to be big to play on the world stage? Think again. Plenty of companies in the $10 million to $1 billion range are emerging as full-fledged international players by finding ways to move faster than their bigger competitors.
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