Factors Leading to Inventory Inefficiencies
In any company inventory management is one area that the managements always focus on when it comes to improving business efficiencies and cutting costs. An inventory reduction drive always yields results, which are visible and releases cash back into business. Does this mean that inventory management is inefficient? The answer can be a yes and […]
International Business: The Resource Wars
Finite Resources and Infinite Consumption We live in a world of finite resources many of which are consumed at an alarming pace. Given the fact that the emerging markets like the BRICS (Brazil, Russia, India, China, and South Africa) are joining the developed countries of the west both in terms of living standards and in […]
Selecting 3PL Service Provider for Warehouse Management
Global business models are rapidly changing. Shorter life cycles of products and new business need exert pressure on Supply Chain managers to keep pace with the new scenarios. They are often faced with the target to reduce logistical costs and establish new supply networks. It has now become a common practice to outsource all logistical […]
Payment Mechanisms in International Trade
Setting up International Trade Mechanisms involves inter disciplinary processes including Finance, Logistics, Taxation and Supply Chain disciplines. Every Business Manager would need to know the nuances of the trade even though he may or may not be involved in the micro management of the processes. Any Import or Export entails commercial transaction and payment. When […]
Why is India Following a Loose Monetary Policy?
Ever since the great recession ended in 2009, the entire world has been following loose expansionist monetary policies. However, after a decade of such policies, most countries in the world have now started resorting to monetary tightening. The Federal Reserve has raised interest rates four consecutive times in the past four years. The Reserve Bank […]
The famous cheerleader of globalization, Thomas Friedman, characterizes the global economy as a “flat world” where anyone can reap the benefits of the many opportunities that are provided by globalization because there are no “barriers” anymore with the advent of the internet.
The basic premise is that anyone from anywhere can use the internet to start online businesses or join companies that have similarly leveraged the power of the internet.
Further, the fact that anyone can start with a business without geographical considerations as the only requirement for an online business is that it must have expertise and a great business idea or a business model means that unlike in the past when export units had to setup, there were multiple factors like access to land, labor, and capital.
This brings us to the topic as to whether the invention and the rapid spread of the internet have made it possible for no barriers to entry for businesspersons.
Indeed, as the many examples of online businesses show, the internet is the reason for the success of these businesses.
In fact, if you are reading this article, it means that the internet has facilitated the exchange between you the reader and the creators of this site. There cannot be a more valid and relevant example than the fact that this site has been made possible because of the internet and that readers are benefiting from this exchange.
This goes on to show that innovative, hardworking, and driven entrepreneurs can leverage the power of the internet to build great businesses that are profitable and at the same time add value to society.
Hence, the internet is indeed a great leveler where anyone can start commercial exchanges provided the basic requirements of seed capital, great ideas, and broadband access are fulfilled.
However, before terming the internet as the game changer, which it is but, the fact that access to computers and the internet is, still a problem in many developing countries is a cause for concern.
Indeed, the digital divide or the term used to describe the divide between the haves and the have-nots in terms of access to the internet is a potent reminder that much needs to be done before one can safely say that we are living in a flat world. Of course, the policymakers across the world are cognizant of this divide and are doing their best to alleviate this problem.
It is important for all the stakeholders to understand that the internet is a valuable source of value to society and hence, all efforts must be done to protect it from any kind of disruption.
Given the connected nature of our world, we cannot afford even the slightest outages and for the entrepreneurs, in particular, it means loss of business.
Finally, attempts to regulate and control the internet must likewise consider these factors.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
February 12, 2025
