Global Hot Spots

Success in strategic sourcing requires finding the global hot spots first. Getting established in a budding community builds connections and provides early access to eager workers. Goals for foreign investment vary immensely around the globe. Kenya is particular, wanting firms that will contribute to innovation; Vietnam extends its welcome to all sectors, especially those that contribute to infrastructure. In the meantime, Eastern Europe is already running short of talented workers. “For those companies seeking ‘early mover’ advantages, locking up local talent at reasonable wages now is part of the trade off that comes with a willingness to accept less-than-world-class work conditions,” writes Adrienne Selko for IndustryWeek. Firms that are early entrants in the hot new emerging markets have the opportunity to shape regulations, education systems, work customs and community development all to their liking. – YaleGlobal