With constantly changing economic landscape, it has become imperative for businesses to be spread out than to work in the comfort zone of their established home markets.
In addition to constantly grappling with the changes by cutting costs businesses simultaneously need to build revenues. Best strategy for this is to spread out and globalize. The current economic climate leaves businesses with no other alternative but to be operating in the new markets.
Continually looking out and being present in newer markets brings down the centre of gravity to a more controllable lower level so that sudden shocks and jolts of home markets are balanced better and well absorbed.
The ability to anticipate threats, respond and continually adapt is as critical a part of the risk management process as it ever has been.
Globalization is not just an attractive alternative but has become a necessity. |