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Globalization and Black Business

Globalization and Black Business
Posted By: Sierra Austin on July 21, 2008

As a student, I find it useful to attend as many conferences a possible because I find them to be a great outlet for learning and social networking. Even if a particular conference is not parallel to my major, I always learn something. Whether it be information concerning resumes, interviewing techniques or new trends in diversity inclusion, valuable information is bound to be gained.

I recently had the opportunity to attend a women's entrepreneurship conference. Upon receiving the information, I thought it would be quite beneficial to attend a conference specifically organized and facilitated by minority female business women.

It was a delight to see successful black women managing successful business serving as mentors to those seeking to do the same. I say this because so many times, even at the undergraduate level, black women have the tendency to become jealous of each other. When strides are made, instead of complementing and assisting one another, envy emerges.

The conference covered the necessary basics of owning your own business such as government certifications, small business management and branding your own business. All of which are essential. However, realistically, all of this information can be received from text.

This is all preliminary information that one seeking to strike up their own business should be fairly familiar with before even allowing the ink on their business plans to dry.

I found this information to be relatively redundant because there are so many other new trends going on in the business world that people aren’t familiar with. Primarily being globalization. Globalization can be defined as the integration of national economies into one international economy. Globalization affects not only the economy, but technology (specifically the internet), culture and politics (just to name a few areas). Globalization has changed the traditional division of labor system by knocking down walls known as ‘state-enforced restrictions' and creating massive interaction with the rest of the world.

To be able to successfully compete in today’s economy, not only do you need a solid business plan and capital, it is imperative that you think about the following factors:

• Is my plan truly innovative? Why?
• Who is my competition (regionally, nationally and globally)?
• How/why does my plan integrate a strong technological focus?

Although the conference was a great way to prepare minority women for entrepreneurship, I am sad to say that I truly did not hear innovative ideas. Everything expressed had been previously marketed in some way, shape or form. I was even looking to hear about products already on the market that had been revamped and supported a clever new marketing tactic but sadly, I did not. Furthermore, I did not hear a word concerning outsourcing, off-shoring or supply-chaining. I definitely wish this conference had a part 2.

We definitely want to support our black business and see them succeed on much larger scales. The knowledge of globalization and being cognizant of its increasingly fast paced rate is crucial.
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Jon C.
Benefits Management Analyst at State of Ohio
Great article. In order for us to be truly competitive in the marketplace, we need to be thinking long-term and large scale. I think that we often tend to limit our thinking and our aspirations because we believe that a successful business on a global scale is unattainable.

To survive in the 21st century marketplace, we'll need to be able to find opportunities and human capital wherever they exist in the world, because that is exactly what our competitors will be doing.
Monday, July 21st 2008 at 1:12PM
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