Emerging markets such as China and India have become breeding grounds for new management processes and practices that help companies to maintain or even improve the quality of their products and services while simultaneously slashing prices. The disruptive impact is now confined to developing countries, but "blowback" from this surge of innovation could quickly be unleashed on the rest of the world. To meet the challenge, established businesses must learn new skills—not least important, an ability to orchestrate complex networks of specialized enterprises.
Pete's Points
It would be worthwhile for people in Australia to take note of this article. Unless we also learn to adopt a 'clean sheet' mentality about management we may face some competition that we will be unable to meet.
Risk management strategies should be adopted NOW to cope with this predicted change if our businesses wish to survive.
Let us not forget that China and India each have some one fifth of the total world population. With this numerical advantage it is highly likely that they will be able to dictate economic matters in just a few years time unless we learn to compete.
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