Opportunities for the 21st Century
The new millennium has produced
profound changes in the fashion in which business operations are
conducted. The major issues faced by the business community in
the past decade were the threat of international competition and
the effect of globalization. Today, markets and competition are
global in scope. The strictly local or domestic market is a
thing of the past.
Companies with international business activities generally outperform those with a purely domestic orientation. Involvement in global business leads to exposure to different technologies, new applications for products and diverse and innovative marketing ideas. Companies with a global presence learn about their global competitors on their home turf before they enter the U.S. market. Global operators are not tying their future to the economic performance of one market. They maintain a more positive stance and greater optimism about the future of business.
The U.S. is a technological powerhouse with excellent products in every category. A growing world needs U.S. technology and know-how. International business involvement offers opportunities to small and medium-sized technology-based companies, enabling them to greatly expand their business horizons with the potential of improved profitability.