The global financial crisis of 2008 has come and gone or has it? Many years after the crisis, there appears to be a recovery in some economies, confidence also seems to be gradually returning to the global markets yet the business terrain remains very sensitive and affected still. A large number of governments, markets, and institutions are still experiencing significant spill-over effects from the crisis. It seems that certain economic fundamentals have been deeply impacted as it only takes a little instability in the markets to bring up inherent systemic weaknesses. This is exemplified in the Eurozone and the crude oil situation. It can be argued that for many years to come, the global business will be conducted in increasingly challenging environments with a continuous set of new regulations and players.
However, on an optimistic note, we can also look forward to developments such as these:
- Greater sophistication in globalization trends.
- More integration of international markets.
- Huge technological and communications innovations.
- Prevalence of unconventional forms of international corporations and management.
- Advancement in the models of finance, securities, and transactional methods.
- Reappraisal of existing business theories.
- Increased focus on production-based economies.
- Increased sophistication in global political and socioeconomic governance mechanisms.
- Improved tolerance and maximization of cultural diversities.
- Newer business opportunities in multiple geographic terrains.