In Partial Fulfilment of the Requirements in
Management works on information and strategizing on the future. This paper will synthesize and reconcile the works of finance experts with the aim of combining what is helpful in the management of future business. The primary works are thesis by Dr. Gemawat and McKinsey work “Management Intuition for the next 50 years”1
According to Mckinsey, the future strategy, decision making and management will be dependent upon the three factors. These are technological disruption, aging and emerging markets.1 On the other hand, Dr.Gemawat observes that, globalization do not depend on cross-border integration and how the division between pro-globalizers and anti-globalizers forces work.He concludes that the world is never flat, and business strategy, therefore, should not be limited to crossed borders.
What can be synthesized from the works is the fact that economy growth will not be limited by cross borders. For example, in observing the emerging markets, it is clear that such have impacted existing powerhouses.2 a good example is how Toyota has become recognized globally beating GM which has dominated the global market for quite long. This can be connected to the thesis “world is not flat.” This is because the home-based market is no longer the centre stage. For exponential growth, the global market cannot be ignored.3
Technology and global connectivity are highlighted in the two discussions. They are presented as the main forces to consider when management strategy comes to play. It is observed that technology explosion controls how the economy grows.1 as the technology becomes more powerful; the product prices will go down and thus more people will be empowered. Due to this, intelligence in the manufacturing sector will be impacted. The growth in these will equal to flow of finance, trade and data. Similarly, technology opens borders to enhance globalization and ensure borders will be reduced.3 in short, the more globalization, the more the trade across borders. However, unnecessary globalization should not be overemphasized.
In conclusion, there is a need to have an open globe. Right now, it is closed as we accept that free trade may not be possible since the economic powerhouse may take advantage of less powerful trading nations.2 this is a fact that shows that there is a small close that will remain, However, as technology and connectivity improve, aging will catch up with the world. The emerging markets will transform the global trade; the world will become more open as the circumstances will demand. From the works, it is clear that, though the authors differed in their choice of words, we can reconcile and synthesize their works and agree that they communicated several agreeable facts. These facts will shape future business in regard to globalization.
Bibliography
Dobbs, Richard, Sree Ramaswamy, Elizabeth Stephenson, and Patrick Viguerie. "Management intuition for the next 50 years." McKinsey’s Quarterly September (2014): 1-13.
Ghemawat, Pankaj. Actually, the world isn't flat. Atlanta, June 11, 2012.
Lagace, Martha. "Businesses Beware: The World Is Not Flat." Havard Business School. October 15 , 2007. http://hbswk.hbs.edu/item/5719.html (accessed October 30, 2014).
Globalization, development and the mass media. Los Angeles: SAGE, 2007.
