We asked key influencers in the global tribe around the world to share their unique perspectives on the global business market.
Here is what they said about global business opportunities RIGHT NOW.
"While 'uncertainty' is the mantra in global markets and value chains given the current trade climate, it is important to recognize that this disruption of global business presents tremendous opportunities. We are witnessing what to date has been a once in a generation—perhaps even once in a lifetime—transformation. However, companies, communities and global citizens that embrace these changes and adapt will thrive in the new environment. These turns will not come every few decades, they are going to come every three to five years and we have to be ready. This is just the beginning and agility is key." - Daniel D. Ujczo Practice Group Chair - Intl & Regional Practices at Dickinson Wright / Note: Hear more from Dan this Wednesday, June 5th HERE.
"American leadership should not be a partisan issue. Engaging with the world and strategically shaping the global environment strengthens America’s position when and if U.S. servicemembers must be deployed." - U.S. Senator Kyrsten Sinema (pictured above with Japanese Ambassador Fujisaki at a Global Chamber® event in the former living room of architect Frank Lloyd Wright at Taliesin West)
"We must train global business leaders and managers to have a digital global mindset: to embrace and harness the 4th Industrial Revolution and it’s disruptive technologies : AI, IoT, Blockchain, Quantum Computing, etc. to advance sustainable prosperity worldwide." - Dr. Sanjeev Khagram, Dean & Director General, Thunderbird School of Global Management
"In the current times, when trade wars are being fought, I would like to use the famous phrase of Dr. William Schurz, 2nd President of the Thunderbird School of Global Management: “Borders frequented by trade, seldom needs soldiers”. This phrase is still very useful also in the current time. We must prevent that nationalism takes over, and keep on aiming for free trade in an ever changing world." - Rene van Baardewijk, President of Rebain International (Spain)
"A key focus for us is finding overseas partners that do a great job and not just bill with no results. We seek motivated and hard working collaborators to drive international initiatives. We have been successful in creating solid relationships through linkedin and online with people that often we have never met. Now with Global Chamber®, that's even easier. We find that being an American company gives us an advantage, as there is still a certain cachet and allure that comes with working alongside an American firm." - Peter Ezugwu, President/CEO of PowerVision and USA Youth Tours
"US Tax Reform has provided significant opportunities for US and non-US based businesses. Non-US businesses have a more attractive corporate tax environment to consider exploration and expansion in the US market. US businesses are being provided with even more incentive to export goods and services into the global market. While the OECD is aiming to tighten up and harmonize tax administration globally via the BEPS (Base Erosion & Profit Shifting) project, more emphasis is being placed on supply chain planning and tax compliance." - Shannon Lemmon, Partner, International Tax Services at Eide Bailly
“One fact of cross-border [M&A] deals that I think is not as well-known as it should be is the difficulty of getting bank accounts operational after a change of ownership. This can take time — two or three months in extreme cases, primarily because of widespread and increasingly stringent KYC [know-your-customer] requirements. We strongly recommend that you know the anticipated timelines and requirements well before making any deal, and if possible use a bank you already do business with. (In some cases, you can ask for your institution’s correspondent bank if they have no presence in the target country.)” - Charlotte Hultman, Group Commercial Director for Vistra (Luxembourg) / More in this blog post.
"Although Burkina Faso faces challenges such as inadequate infrastructure, progress has accelerated including liberalization, privatization and business facilitation measures, making the country's legal and economic environment much more attractive. Investors are delighted because Burkina Faso bases its development strategy on an openness to regional and global markets. Also, the country is an essential crossroads within the West African Economic Union with 70 million inhabitants.'' - Tanya Toure, Executive Director of Global Chamber® Burkina Faso
“There are a myriad of reasons why digital transformations fail, but when you drill it down, what we consistently see is that digital transformations fail because business leaders make it about the digital, not the transformation. All of the companies that have executed successful DT projects (and more than 80% fail) make it about the transformation. Our advice to put yourself in the 20%? Focus on the SOD: Strategy, Organization, Data. This approach helps to align the view at the top and create a consensus amongst leadership, whilst also – and critically – enables a focus on who your competition is, which in turn creates a focus on growth, not just costs.” - Matthew Hoffer, Managing Partner at Spire Strategy
"We are increasingly finding international firms looking for ways to streamline operations and more seamlessly integrate across boundaries. Geographical differences create organizational silos that must be broken down to remain competitive. Those who solve the communication challenges presented by location and time zone differences are creating competitive advantage relative to those who don’t." - Joe Bockerstette, Partner at Business Enterprise Mapping
"While India has already been featuring on the world map, and was slated to becoming one of the fastest growing economies and world power, the oncoming elections for the new government had created some apprehensions in the minds of the business world and the people at large. Now with that clarity and with another round of the Modi government having taken to power, and with the new budgets and economic reforms being planned, India will once again position itself and this time more strongly on the global business map.
"With changes coming in the regulatory mechanism, and the ease of doing business in India as an intervention in itself having gathered full steam, it has cut down on the bureaucracy, and rudimentary processes thus making processes and processing much easier and faster. With key and critical international partnerships being forged at the political level, it has given way to a creating huge opportunities for business in India to forge and strengthen global business partnerships.
"Global players in the Retail/ E-commerce have already established themselves in India, and there is always scope for more. New age sectors like Fintech, Agritech, AI and Blockchains, have gained some more focus and are the Industries that the young engineers, business students and scientists want to be a part of. Media & Entertainment and Sports continue to be the biggest passions of the Indian people. With the newer viewing patterns and preferences, digitisation, animation, visual effects, AI, VR, AR etc being the new technologies used in the business of entertainment, these businesses will only grow further and the space will be much more exciting.
"India being a young nation, with higher disposable income and better awareness of global opportunities, Education continues to be an area of development and growth. Use of Technology, thus making education fun for all age groups, led to the creation of edutainment which is a growing sector. These are just a few listed. The changes in the economy and the sociopolitical system shows a very encouraging future for India and thus presents a host of opportunities for Global players to be present and part of the growth story." - Aparna Ranadive, Executive Director at Global Chamber® Mumbai
"We remember the U.S. Senator John McCain as a friend of Lithuania, who supported us in tough times both during the years of Soviet occupation, when he backed the U.S non-recognition policy, and during our freedom struggles. He also encouraged our efforts to mobilize political and practical support in order to strengthen the country that endeavored to once again establish its place in the Western family of nations. We must continue to nurture his legacy and values. He has fought for this all his life." - Linas Linkevičius. Minister of Foreign Affairs of Lithuania / Read more HERE.