Page 17 - (DK) The Business Book

INTRODUCTION 15

networks and communities of like- for example, may be “the world’s Business is a fascinating subject.
minded people dispensing factory,” but its home-grown It surrounds us and affects us daily.
business advice, enterprise has companies are also starting to A walk down the street, a wander
never been more entrepreneurial. represent a threat to Western around a supermarket, an Internet
Recent business thinking has businesses. As the global recession search on almost any topic will
brought diversity and social of 2007–08 and ongoing economic reveal commerce in its many and
responsibility to the fore. Businesses uncertainty have proven, business varied forms. At its core business
are encouraged, and increasingly in the 21st century is increasingly is, and always has been, about
required by law, to employ people more interdependent and more survival and surplus—about the
from diverse backgrounds and to challenging than ever before. advancement of self and of society.
act in an ethical manner, wherever Starting a business might be easier, As the world continues to open
they operate in the world. but to survive entrepreneurs need up, and as opportunities for
Businesses such Nike and Adidas the tenacity to take an idea to enterprise multiply, an interest
require suppliers to prove that labor market, the business acumen to in business has never been more
conditions in their factories meet turn a good plan into a profitable relevant, or more exciting. Moreover,
required standards. Sustainability, enterprise, and the financial skill to for those with entrepreneurial
recycling, diversity, and maintain success. spirit, business has never been
environmentalism have entered more rewarding. ■
business thinking alongside Continual change
strategic management and risk. For centuries social, political, and
technological factors have forced
New horizons companies and individuals to
If business thinking has shifted, create new ways of generating
so too has the nature of business profits. Whether bartering goods Business, more than any other
itself. Where once a company was with a neighboring village or occupation, is a continual
constrained by its locality, today seeking ways to make profits from
dealing with the future; it
the opportunities are truly global. social networking, business
is a continual calculation,
Globalization does, however, mean thinking has changed, shifted, and
an instinctive exercise
that business is more competitive evolved to mirror the wants and
in foresight.
than ever. Emerging markets are needs of the societies whose wealth Henry R. Luce
creating new opportunities and it creates. Sometimes, as in the
US magazine publisher (1898–1967)
new threats. They may be able to 2008 financial crisis, business failed
outsource production to low-cost in its efforts. In other examples—the
countries, but as their economies legacy of Apple’s game-changing
grow, these emerging nations are products, for example—companies
breeding new competition. China, have been spectacularly successful.