In a global world, where emerging international markets now present the greatest growth opportunities, can the small to medium sized companies that are the heart of the US economy continue to thrive when their sole focus is on the domestic market?
With the current negative investment climate forcing companies to cut back their workforces at an alarming rate, the aggregated knowledge of many of these companies is being depleted exponentially. They need to find out, as a matter of urgency, where the needs lie in the global marketplace, and the ways in which they can tap into the opportunities that are arising beyond their current domestic horizons.
Digital life refers to the impact of convergence technologies (wireless broadband, mobile Internet and cloud solutions) on global business models and consumer behavior. Increasingly online communities, facilitated by social networking, are enabling experts and consumers to share knowledge, experience and needs in ways that unleash opportunities that know no boundaries.
As digital life rapidly becomes an integral part of today’s business life, SME’s should seize the opportunity, made available via the Internet, to leverage the collective knowledge of the global community, and use it to drive open innovation.
The opportunity for SME’s to attack the emerging market demand pyramid by leveraging their own core technology, combined with concepts and ideas from the collective community, could be the mechanism to spur growth in manufacturing in the US, and consequently sustained economic growth through exports.
Do the government and banking industry have the wherewithal to put in place the necessary frameworks and incentives to facilitate the reengineering of the small and medium business sectors of the US economy? Based on President Obama’s State of the Union speech this week, the awareness is clearly there; the question is – does Congress have the determination to make it happen?
Find out how the processes we have developed at KeySo Global can help you to drive international business, open innovation and be successful in bringing new technologies on board. Contact us at firstname.lastname@example.org if we can help in any way and for more information about the services we offer, check out our website at www.keysoglobal.com.