Global Players Herald Change to Business Flow

The US, as the world’s largest economy, carries less influence over other economies of the world. Brazil, Russia, India and China (BRIC) have reported rapid growth in recent years, thanks to innovative firms that have become leading exporters, reports Robert Weisman for the Boston Globe. Business no longer flows from west to east but in multiple directions, argues a team with the Boston Consulting Group. Companies based in the developing world have achieved global scale, and Weisman notes that “Decision making has been decentralized and business models opened up, with companies outsourcing design and tailoring products to different countries.” Specialization has become a competitive advantage for new companies in emerging economies, some analysts suggest. Such specialization requires flexibility, but also encourages different countries to concentrate on and master a few select industries. – YaleGlobal