Industry Week - Growth in Emerging Economies Spells Opportunities
January 19, 2011
Alexander Gordin, Managing Director, published this informational article in Industry Week. The introduction and link to the article are below:
As the world is slowly but surely emerging from the viselike grip of the global financial crisis, American manufacturers are presented with an unprecedented opportunity to enter a great number of rapidly growing foreign markets. Many of the emerging markets of Eastern and Central Europe, Central and South Asia and Latin America have been severely affected by the crisis, but have recently resumed or are about to pick up where they left off with their blistering growth. Industries such as alternative-energy generation, agriculture, communications, aviation, road construction, and health care are booming, along with many others.
Despite competition from China, Germany and now Brazil's rapid emergence as a world-class manufacturing power, the opportunities are so vast, and U.S. industry is still sufficiently competitive so that firms here can successfully enter foreign markets and grow their manufacturing business.
Expansion overseas is not for the faint of heart, however. It requires unwavering commitment to chosen markets, reshaping current organizational culture to have a global focus, learning new ways of doing business and dealing with issues that are pervasive in many emerging markets -- poor infrastructure, increased crime and corruption, different work ethic and fantastic bureaucracy.
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