International Environmental Factors
I. Globalization of corporations, knowledge, products, consumers, and communication.
II. Growing competition within and across countries, amongst domestic companies, and between domestic and transnational companies.
III. Link between international trade and international labour standards and parallel efforts to secure labour market flexibility through relaxation of labour laws and standards for stimulating investment, both domestic and foreign
IV. Speedy flow of information, capital, and innovation throughout the world.
V. Rising expectations of all stakeholders.
VI. Easy access to the best and the least expensive products and services, worldwide.
VII. Rapid pace of change (£If the rate of change in our organization/society is slower than the rate of change outside the organization/society, we will be led by others.’)
VIII. Faster response time (As Smajda of the World Economic Forum avers, the days of big fish eating small fish are over. It is the fast fish which swallows the small fish.’)
IX. Growing socio-economic inequity.
I. Inward looking, import-substitution strategies to outward looking, export-oriented industrialization strategies;
II. Regulation to deregulation and centralized decision making to decentralized decision making on many facets of our economy and enterprises;
III. Macro to microeconomic policies for solving the problem of unemployment and inflation;
IV. Public sector at the commanding heights of the economy to private sector as an engine of growth; and
V. From equity versus efficiency to equity and efficiency.