This document discusses strategies for Maltese enterprises to increase competitiveness through market diversification and economic integration. It examines Porter's diamond model of national competitiveness and discusses how small island economies rely on exports. SMEs are important for economic growth due to their flexibility. The document advocates identifying niche markets and opportunities in emerging economies like China, India, and Brazil. It emphasizes developing entrepreneurial skills, simplifying processes, and promoting quality to compete globally. Finally, it argues that small size can be an advantage and that Malta's quality of life makes it well positioned to attract innovative entrepreneurs.
Stretagies that fit Emerging Markets,
International Business Strategies which are suitalbe for developing countries to attract the international investors
Kevin Lynch on Innovation at IPAC Annual Conference August 20 2012Shahab Khan
“THE NEW GLOBAL REALITY: YOU WANT TO BE
COMPETITIVE, YOU BETTER BE INNOVATIVE!”
by
The Honourable Kevin G. Lynch
Vice-Chair, BMO Financial Group
to
Institute of Public Administration of Canada
L'Institut d'administration publique du Canada
64th Annual Conference
St. John’s Newfoundland
August 20, 2012
Stretagies that fit Emerging Markets,
International Business Strategies which are suitalbe for developing countries to attract the international investors
Kevin Lynch on Innovation at IPAC Annual Conference August 20 2012Shahab Khan
“THE NEW GLOBAL REALITY: YOU WANT TO BE
COMPETITIVE, YOU BETTER BE INNOVATIVE!”
by
The Honourable Kevin G. Lynch
Vice-Chair, BMO Financial Group
to
Institute of Public Administration of Canada
L'Institut d'administration publique du Canada
64th Annual Conference
St. John’s Newfoundland
August 20, 2012
Explore the four pillars of future economic development - one prosperous, skilled, innovative, and livable - that communities are using to build globally competitive communities. Explore how private sector development, workforce and education, entrepreneurs and small business, and community development support broad-based economic growth and quality of life.
Gain more information on the topic during IEDC's Economic Future Forum in Tulsa, OK June 12-14. To register visit: iedconline.org/futureforum
The Role of IT in Supporting Vietnam Youth Entrepreneurshipijtsrd
This paper aimed to analyse the role of IT in supporting entrepreneurs in Vietnam. Our findings show that youth entrepreneurship in Vietnam face a number of hurdles in accessing IT services. Although a number of them have shown an interest in integrating IT into their business operations, however, most of them do not have enough resources to fully exploit IT opportunities. Other problems mentioned to confront youth entrepreneurship in their endeavour to access and use IT in their businesses is the lack of knowledge and skills on how to use computer, language and lack of time. Dr. Le Nguyen Doan Khoi "The Role of IT in Supporting Vietnam Youth Entrepreneurship" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd31503.pdf Paper Url :https://www.ijtsrd.com/economics/commerce/31503/the-role-of-it-in-supporting-vietnam-youth-entrepreneurship/dr-le-nguyen-doan-khoi
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...Goh Bang Rui
Subscribe to my education channel.
bit.ly/gohbangrui
These slides introduce Chapter 9: How do We Respond to Tensions Arising from some Economic Impacts under Issue 3: Being Part of A Globalised World to the Secondary 3 and 4 students who are studying Social Studies for the Singapore current syllabus 2016.
These slides are divided into 3 areas.
1. Economic Impact on Country [Slide 3]
2. Economic Impact on Companies [Slide 29]
3. Economic Impact on Individuals [Slide 50]
Video
TBC
Any feedback is welcome.
Since the early 1990s, developing countries have been the fastest-growing market in the world for most products and services. Companies can lower costs by setting up manufacturing facilities and service centers in those areas, where skilled labor and trained managers are relatively inexpensive.If Western companies don’t develop strategies for engaging across their value chains with developing countries, they are unlikely to remain competitive for long.Companies that choose new markets systematically often use tools like country portfolio analysis and political risk assessment, which chiefly focus on the potential profits from doing business in developing countries but leave out essential information about the soft infrastructures there.
Role of business in economic developmentM S Siddiqui
Policy makers need to create structured long term funding schemes with extended moratorium periods to support young entrepreneurs in the start-up stage and smooth run of business under self-regulations with minimum bureaucratic control. The bureaucratic control is expensive and regressive of creation of new business and development of entrepreneurship.
Etude RSM International sur la création d'entreprise 2013Société Tripalio
Cette étude analyse le processus de création d'entreprises dans différents pays industrialisés et en donne une estimation statistique. La France est réputé le pays le plus dynamique en créations d'entreprise
Evolution of Entrepreneurship over decades AmeyaKshatriya
This presentation consists of the development and evolution of entrepreneurship over decades. Hope you will find it useful. Thank you !!!
You could also find this information on the link provided below.
https://www.vz.ae/blog/past-versus-present-how-has-entrepreneurship-evolved-with-the-times
IB Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
Chapter 5 How Managers Use Balance of Payments Data – p.213Do.docxrobertad6
Chapter 5: How Managers Use Balance of Payments Data – p.213
Do some research on the items in the table below and see if you see a pattern with the various country’s economies:
1. What is the G7?
2. What is the E7?
G7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
NOTE: When you find the GDP (Gross National Product) note the year – you may not have 2018 statistics. That is okay –find the latest data available. You may need to search for the Ranking of Ease of Doing Business – and then find the countries that make up the G7 or the E7.
NEXT PAGE!
E7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
A. Compare the 2 groups of countries – explain your findings.
Globalization Effects on Country Institutions, People and Business
Chapter 3
Key Points for the Chapter
Economic development comprises positive economic growth and entails changes in a country’s political, economic, and cultural institutions, as well as in individual values, attitudes, and behaviors.
Economic development requires resources from public and private sectors, both internal and external.
Technology transfers by international corporations comprise manufacturing technologies, management organizations, and marketing know-how.
Intro: The Economic Development Process
Economic development is the progress countries make in living standards as they experience positive economic growth and the changes occurring in societal and cultural institutions and values as nations move toward more advanced stages of industrialization.
Economic progress demonstrates human progress, and more pragmatically, it keeps politicians in power, companies busy, and consumers (and voters) optimistic about the future.
Technology Transfers
International trade, investments, and global media have opened world markets up to a variety of modernizing influences.
In general terms, technology transfers occur as corporations enter new markets with products, technologies, lifestyles, and business methods developed in their home and other international markets.
Technology transfers first affect urban segments of developing countries where there are developed infrastructures and pocket of economically significant customers.
As media become commercialization and distribution channels are built into rural areas, greater proportions of developing-country populations come into contact with modernization influences.
4
Positive Effects
Positive effects occur as societies are exposed to broad varieties of products that make lives easier.
Convenience products such as packaged foods, and consumer durables such as refrigerators, radios, televisions, and stoves have positive effects on consumer lifestyles.
New technologies in manufacturing and distribution make products cheaper and more widely available. They provide employment opportunities for lo.
Explore the four pillars of future economic development - one prosperous, skilled, innovative, and livable - that communities are using to build globally competitive communities. Explore how private sector development, workforce and education, entrepreneurs and small business, and community development support broad-based economic growth and quality of life.
Gain more information on the topic during IEDC's Economic Future Forum in Tulsa, OK June 12-14. To register visit: iedconline.org/futureforum
The Role of IT in Supporting Vietnam Youth Entrepreneurshipijtsrd
This paper aimed to analyse the role of IT in supporting entrepreneurs in Vietnam. Our findings show that youth entrepreneurship in Vietnam face a number of hurdles in accessing IT services. Although a number of them have shown an interest in integrating IT into their business operations, however, most of them do not have enough resources to fully exploit IT opportunities. Other problems mentioned to confront youth entrepreneurship in their endeavour to access and use IT in their businesses is the lack of knowledge and skills on how to use computer, language and lack of time. Dr. Le Nguyen Doan Khoi "The Role of IT in Supporting Vietnam Youth Entrepreneurship" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd31503.pdf Paper Url :https://www.ijtsrd.com/economics/commerce/31503/the-role-of-it-in-supporting-vietnam-youth-entrepreneurship/dr-le-nguyen-doan-khoi
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...Goh Bang Rui
Subscribe to my education channel.
bit.ly/gohbangrui
These slides introduce Chapter 9: How do We Respond to Tensions Arising from some Economic Impacts under Issue 3: Being Part of A Globalised World to the Secondary 3 and 4 students who are studying Social Studies for the Singapore current syllabus 2016.
These slides are divided into 3 areas.
1. Economic Impact on Country [Slide 3]
2. Economic Impact on Companies [Slide 29]
3. Economic Impact on Individuals [Slide 50]
Video
TBC
Any feedback is welcome.
Since the early 1990s, developing countries have been the fastest-growing market in the world for most products and services. Companies can lower costs by setting up manufacturing facilities and service centers in those areas, where skilled labor and trained managers are relatively inexpensive.If Western companies don’t develop strategies for engaging across their value chains with developing countries, they are unlikely to remain competitive for long.Companies that choose new markets systematically often use tools like country portfolio analysis and political risk assessment, which chiefly focus on the potential profits from doing business in developing countries but leave out essential information about the soft infrastructures there.
Role of business in economic developmentM S Siddiqui
Policy makers need to create structured long term funding schemes with extended moratorium periods to support young entrepreneurs in the start-up stage and smooth run of business under self-regulations with minimum bureaucratic control. The bureaucratic control is expensive and regressive of creation of new business and development of entrepreneurship.
Etude RSM International sur la création d'entreprise 2013Société Tripalio
Cette étude analyse le processus de création d'entreprises dans différents pays industrialisés et en donne une estimation statistique. La France est réputé le pays le plus dynamique en créations d'entreprise
Evolution of Entrepreneurship over decades AmeyaKshatriya
This presentation consists of the development and evolution of entrepreneurship over decades. Hope you will find it useful. Thank you !!!
You could also find this information on the link provided below.
https://www.vz.ae/blog/past-versus-present-how-has-entrepreneurship-evolved-with-the-times
IB Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
Chapter 5 How Managers Use Balance of Payments Data – p.213Do.docxrobertad6
Chapter 5: How Managers Use Balance of Payments Data – p.213
Do some research on the items in the table below and see if you see a pattern with the various country’s economies:
1. What is the G7?
2. What is the E7?
G7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
NOTE: When you find the GDP (Gross National Product) note the year – you may not have 2018 statistics. That is okay –find the latest data available. You may need to search for the Ranking of Ease of Doing Business – and then find the countries that make up the G7 or the E7.
NEXT PAGE!
E7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
A. Compare the 2 groups of countries – explain your findings.
Globalization Effects on Country Institutions, People and Business
Chapter 3
Key Points for the Chapter
Economic development comprises positive economic growth and entails changes in a country’s political, economic, and cultural institutions, as well as in individual values, attitudes, and behaviors.
Economic development requires resources from public and private sectors, both internal and external.
Technology transfers by international corporations comprise manufacturing technologies, management organizations, and marketing know-how.
Intro: The Economic Development Process
Economic development is the progress countries make in living standards as they experience positive economic growth and the changes occurring in societal and cultural institutions and values as nations move toward more advanced stages of industrialization.
Economic progress demonstrates human progress, and more pragmatically, it keeps politicians in power, companies busy, and consumers (and voters) optimistic about the future.
Technology Transfers
International trade, investments, and global media have opened world markets up to a variety of modernizing influences.
In general terms, technology transfers occur as corporations enter new markets with products, technologies, lifestyles, and business methods developed in their home and other international markets.
Technology transfers first affect urban segments of developing countries where there are developed infrastructures and pocket of economically significant customers.
As media become commercialization and distribution channels are built into rural areas, greater proportions of developing-country populations come into contact with modernization influences.
4
Positive Effects
Positive effects occur as societies are exposed to broad varieties of products that make lives easier.
Convenience products such as packaged foods, and consumer durables such as refrigerators, radios, televisions, and stoves have positive effects on consumer lifestyles.
New technologies in manufacturing and distribution make products cheaper and more widely available. They provide employment opportunities for lo.
This Presentation is based on Multinational Corporations (MNCs): History of MNCs, Top 10 MNCs, Impact of MNC on local and national economics, Impact on the world economy: Favourable impact and harmful impact and future of MNCs.
Similar to How to Create a Culture of Market Diversification, Economic Integration, Effectiveness and Competitiveness among the Maltese Enterprises? (18)
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
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Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
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The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
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How to Create a Culture of Market Diversification, Economic Integration, Effectiveness and Competitiveness among the Maltese Enterprises?
1. Royal Holloway School of Management
University of London
How to Create a Culture of Market Diversification, Economic Integration,
Effectiveness and Competitiveness among the Maltese Enterprises?
By Ailson De Moraes
St. Martin's
Institute of
Higher Education
04/10/13 1
2. Contents
• Introduction: The Great Crisis of 2008 and Today
• An Overview of Globalization – Past, Present and Future
• The diamond approach to the competitiveness of industries: Michael Porter
• Why Nations Fail?
• Effectiveness and Competitiveness among Enterprises
• Conditions for Competitiveness
• Small and Medium Sized Enterprises – SMEs
• Ansoff’s Product-Market Expansion Grid
• New Opportunities
• Smart Ways to Compete and be Successful
• Export – or – Perish
• Small is Beautiful
• Conclusion and Final Thoughts
04/10/13 2
3. The Great Crisis of 2008
• The Great Crisis of 2008 has forced us to reexamine our beliefs about
markets and globalization.
• These are challenging times. The challenges we face are real. Finance
is in tumult.
• The global order seems more uncertain.
• Prosperity and Power are shifting to new places and peoples.
• Old political doctrines and divisions no longer seem viable.
• Technology and media are changing before our eyes.
• And even the natural environment itself is changing.
• That’s not all. The problem isn’t just with our current situation, but with our
responses to it!
• Are markets bad and government good? Or are both bad? Or are both good,
and we do not know how to deal with them?!
04/10/13 3
4. Today’s challenge
• According to Professor Pankaj Ghemawat in his last book,
World 3.0 Global Prosperity and How to Achieve It, 2011.
“Today’s challenges call for a new
way of looking at the world.”
• What he calls World 3.0 – clear implications
for governments, businesses, and individuals.
04/10/13 4
5. Four Worldviews
Governments
Businesses
individuals
World 3.0
World 1.0 World 2.0
Ye Yes
s
World 0.0
Market Regulation No No Market Integration
Source: Adapted from Pankaj Ghemawat, World 3.0 Global Prosperity and How to Achieve It, 2011, pp. 18.
04/10/13 5
6. World 3.0
• The idea of the world 3.0 is about how to improve the
people themselves – or rather, ourselves. How to rethink
our own relationship with the rest of the world.
• In the word of former British Prime Minister Tony Blair,
“Educating people to be open to the other person – I
think that’s the challenge of the twenty-first century.”
04/10/13 6
7. The diamond approach to the competitiveness of industries:
Michael Porter
04/10/13 7
8. Why Nations Fail?
Source: No Night Lights in North Korea, http://farandwise.com/night-lights/
04/10/13 8
9. North Korea vs South Korea
• North Korea = stagnate economically
• South Korea = Politicians invested in education, achieving
high rates of literacy and schooling. South Korean
companies were quick to take advantage of the relatively
educated population, the policies encouraging investment
and industrialization, exports, and the transfer of
technology. South Korea quickly became one of the East
Asian’s “Miracle Economies”, one of the most rapidly
growing nations in the world.
04/10/13 9
10. Engines of Prosperity - State
• South Korea has a state that supports economic activity. In South Korea
individuals are free to open any business they like. In North Korea individuals
are not, and this creates a black markets.
• The state is thus inexorably intertwined with economic institutions, as the
enforcer of law and order, private property, and contracts, and often as a key
provider of public services. Inclusive economic institutions need and use the
state.
• Inclusive economic institutions also pave the way for two other engines of
prosperity: technology and education.
• It is the education and skills of the workforce that generate the scientific
knowledge upon which our progress is built and that enable the adaptation and
adoption of these technologies in diverse line of business.
04/10/13 10
11. Extractive and Inclusive Political Institutions
• Politics is the process by which a society chooses the rules
that will govern it.
• The political institutions of a society are a key determinant
of the outcome of the growth of a nation.
• Political institutions determine who has the power in society
and to what ends that power can be used.
• There is strong synergy between economic and political
institutions.
04/10/13 11
12. Why Not Always Choose Prosperity?
• Political and economic institutions, which are ultimately the
choice of society, can be inclusive and encourage
economic growth. Or they can be extractive and become
impediments to economic growth.
• Growth thus moves forward only if not blocked by the
economic losers who anticipate that their economic
privileges will be lost and by the political losers who fear
that their political power will be eroded.
04/10/13 12
13. The new path to prosperity
Henceforth, the most important issue of all for Competitiveness lies in
the pressure that these factors exert on firms to invest and innovate.
— Factor conditions, such as the
availability of Skilled Labour Prosperity
and Infrastructure;
— Demand conditions for the
Goods and Services of the
Industry;
— Related and supporting
Competitiveness (Productivity)
Industries, including the
presence of Competitive
Suppliers; and
— Firm Strategy, Structure
and Rivalry Innovation
04/10/13 13
15. CONDITIONS FOR COMPETITIVENESS
According to Michael Porter (1990) there are four interdependent,
mutually reinforcing attributes of a nation that determine whether or not
it provides an environment which enables Firms in a particular Industry
to compete successfully:
— Factor conditions, such as the availability of Skilled Labour and Infrastructure;
— Demand conditions for the Goods and Services of the Industry;
— Related and supporting Industries, including the presence of Competitive
Suppliers; and
— Firm Strategy, Structure and Rivalry
04/10/13 15
16. Small and Medium Sized Enterprises - SMEs
• SMEs are known to contribute dynamically to economic growth
and to the creation of sustainable employment.
• It is commonly understood that SMEs have general capacity for
flexibility and innovation, responding quickly to structural
changes and to adapt rapidly to changing consumer taste and
demand .
• In the case of small island territories, SMEs play even a more
distinct role since the typical average firm size is even smaller
than elsewhere – in most cases (Granovetter, 1984, within
Baldacchino, 2005).
04/10/13 16
17. Small and Medium-sized Enterprises
and the UK economy
• In 2012, there were 4.8 million businesses in the UK.
• • Over 99% of these businesses were small or medium
sized businesses, employing less than 250 people.
• • 4.6 million or 96% of all businesses were micro-
businesses – employing 0-9 people.
Source: Standard Note: SN/EP/6078 ,19 December 2012, Chris Rhodes, Economic Policy and Statistics
04/10/13 17
18. Small and medium-sized enterprises (SMEs)
Fact and figures about the EU´s Small and Medium Enterprise (SME)
• Following the daily news, it is easy to get the impression that the European economy is
dominated by large, multinational enterprises. Their multi-billion Euro takeovers, global
expansion plans or -more recently- risks of mega bankruptcies dominate the headlines.
• What usually gets lost is that more than 99% of all European businesses are, in fact,
SMEs.
• What is even more intriguing is that nine out of ten SMEs are actually micro enterprises
with less than 10 employees. Hence, the mainstays of Europe's economy are micro firms,
each providing work for two persons, in average. This is probably one of the EU's best
kept secrets!
• The SME Performance Review (SPR) is the key instrument employed by the European
Commission to document the important role of SMEs and to study the further
development of this sector. It has two components: a European annual report and a set of
country fact sheets.
Source: Enterprise and Industry, http://ec.europa.eu/enterprise/policies/sme/facts-figures-analysis/ - Downloaded
on 03/04/2013.
04/10/13 18
20. New Opportunities
• According to McKinsey Global Institute, over the next ten years, nearly 450 million
newcomers will join the middle class in China and India alone (2006).
• TODAY is the TIME to invest in China and India. Maltese enterprises (established and
new ones) cannot miss this opportunity!
• However, its not only China and India – BRAZIL is one of the main emerging economies
today – in the last 5 years, over 40 million people moved from low to middle class.
• Major American companies are scrambling to keep up with the rising economic clout of
Brazil, China, India and Russia (BRIC).
• So, the Maltese enterprises cannot be outside of the them game – How?
• “ENTREPRENEURIAL INNOVATION SKILLS – by identifying what they can do best,
which is PROMOTE QUALITY (Often branded) products and services for selective niche
up-markets.
04/10/13 20
21. Compete by Seeing What Others Don’t
• GET SMART
• Connect the dots: opportunities lurk in neglected fields everywhere,
especially in places where people take dysfunction as the expected
way of life. Finding the opportunities is part science and part art.
• Think Global
• Keep checking your intuition
• Pay Attention to Service.
“You can’t expect your knowledge of yesterday to carry you
through tomorrow.”
• Don’t stop thinking about tomorrow.
04/10/13 21
22. Compete By Thinking Outside the Bubble
• Why do some people easily spot opportunities where others see
only obstacles, if they see anything?
• The answer: Humans like to leave in a bubble – its comfortable and
safe!
“Open yourself to seeing the bigger picture so you can assess
what others are doing that will actually work in your industry and
your company. “
04/10/13 22
23. Compete By Thinking Outside the Bubble
• GET SMART
• Make friends: your main goal is to outsmart your competitors! HOWEVER, in
some occasions is better to be part of the solution not a head-to-head
competitor.
“You will make friends more easily if you offer services that not only
benefit your customers and your company, but also address the ills of
your entire industry.”
• Redefine the culture of your company.
“And if you don’t trust your people to adapt, you have the wrong people in
place. People change the way they think when one changes what they
do.“
04/10/13 23
24. Compete by Simplifying Complexity
• Three-word strategy: KEEP IT SIMPLE (But doing always the BEST to
your Customers)
• Follow Peter Drucker’s simple advice to:
1. know where you are?
2. Where you want to be?
3. And How to get there?
“Outsmarting the competition requires more than intelligence,
experience, and business sense; you also have to be quick,
flexible, and ready to adapt to the transforming world.”
04/10/13 24
26. Export – or - Perish
• A small island economy quickly imposes an off-island orientation to any local
entrepreneur (Baldacchino, 2005:29).
• The Export-or-Perish syndrome is a very powerful one on small island territories and may
somehow compensate for the absence of ‘domestic firm rivalry’ that elsewhere pushes
firms into higher quality products and processes, in turn creating competitive advantage
(Briguglio and Buttigierg, 2003: 7; Porter, 1990:92 within Baldacchino, 2005:29).
• The small island must strategically connect with the global economy, identifying and
cultivating markets, networks and clients, somehow following and keeping a tab on
innovationary trends, often doing so by maintaining a vibrant traffic of people and ideas
with the rest of the world. “The influence of outsider-generated knowledge resources”
(Chrisman, 1999) is crucial in the instance. In small islands, these knowledge resources
may include the very entrepreneur (Baldacchino, 2005).
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27. Small is Beautiful
• “I was brought up on the theory that in
order to be prosperous a country had
to be big – the bigger the better.”
• “...and if we make a list of the most
prosperous countries in the world, we
find that most of them are very small.”
Source: Schumacher, 1973:52, Small is beautiful, A Study of Economics As If
People Mattered, Abacus, Edition 1990.
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28. Conclusion and Final Thoughts
• Globalization is not a threat for the Maltese firms, on the
contrary, it is a worldwide process of opportunities –
remember it is a U$ 65 trillion world economy.
• The 2008 worldwide Crisis, and the present EU Crisis it is
an opportunity to reexamine our beliefs about markets and
globalization.
• Focus on Value NOT on Volume. Identify what you can do
BEST, and promote quality products for selective overseas
upmarkets (emerging economies!)
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29. Conclusion and Final Thoughts, Cont.
• Small is Beautiful - Maltese Firms can be beautiful
worldwide (all depends on the internal and external
implementation of the right strategies).
• Entrepreneurial Innovation – new skills, training, education
and professional development. Not only postgraduate
education, but new initiatives to develop young
entrepreneurs in secondary schools.
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30. Conclusion and Final Thoughts, cont.
• Fostering networks through cooperative competition with
local firms – join forces with your local competitors so your
products and services can become well-known globally.
However, don’t forget to foster networks also with outsiders
– perhaps with other firms from emerging economies.
• Attract Maltese entrepreneurs who are established in other
countries – offer some incentives to relocate their firms, or
deploy their knowledge capital and extensive overseas
networks in order to support local economic growth
(Baldacchino, 2005).
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31. Conclusion and Final Thoughts.
• Attract immigrant innovator can be a key strategy to
adequate glocality – The influence of outsider-generated
knowledge resources (Chrisman, 1999).
• Quality of life – Maltese government can attract
entrepreneurs from other regions of the world offering what
Malta has the best – excellent quality of life.
• Investment in tourism is never enough! Tourism facilitates
exports. Tourists are the best ‘word of mouth marketing’.
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32. ....and please do remember....
‘Small is Beautiful.’
Malta is a Beautiful Small Country.
Maltese Enterprises can be part of this
Beauty Globally.
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