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Lecture 5

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Department
Commerce
Course
COMM 103
Professor
Gary Bisonnette
Semester
Fall

Description
Question for discussion: What are you perceptions of the current evolution of the global marketplace? - Technological trends  change business o Quicker distortion (China/India don’t need to create it) o Can we continue to leverage our advantage compared to other countries? - Impact related to national debt  capital crunch (access to cheap money is become difficult) o Economies were able to grow faster than the growth of debt  Growth has dissipated, therefore levels of debt have risen  High levels of debt are not supported  Decrease in consumer confidence decreases consumption o Europe’s situation o Bad US economy; less investment by USA - Demographic shifts o Fully developed economy -> aging o Emerging economy -> young o Emerging nations facing significant unemployment for younger population  Disconnect between age of population and age of employed  Immigration (eg. Canada has powerful immigration policy, because we have decrease birth rates, needed to support economy) - Scarcity of natural resource - Increase emphasis on Corporate social responsibility - Emergence of political economies o Government more involved in businesses, positive impact o Financial crisis of 2008 helped government recognize need for stricter laws o Protectionism, people realize need to protect own economy (less international trade) o Much more reactive/ short term focused (stimulus isn’t long term sustainable) - Increase emphasis on outsourcing  scarcity & competitive advantage Forces Shaping the Global Economy - Global rebalancing o G7/8 used to make up 90% of world’s GDP, now they have less clout; more G20/30 o Improve or reinvent  New companies are using new innovative techniques (diverse)  We need to improve productivity and continue to improve to be sustainable o Acceleration or connectivity  Increase technological connection Question for discussion: Suppose you were asked to assess the viability of an emerging nation as potential place to do business. What would your high- level preliminary assessment focus on? - Political stability  culture o Doesn’t matter, who has power now, but rather will the culture stay the same (corruption) - Market structure o Does the market adhere to the principles of capitalism? At what level?  Open economy – Supply & Demand, private ownership, wealth creation and entrepreneurship •
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