While I avoid the whole development issue, I think that as big companies realize there's money to be made in developing countries, we will see a new trend.
A few weeks ago I was seeing a presentation by Razofish on a research they had done in Brazil, Mexico and Argentina. The results showed how the middle class of those countries is spending billions of dollars in technology.
What do they have to do? Spend some resources analyzing the market, create products that will fit the customer's demands.
Esentially, what I believe is that companies will target the developing countries as soon as they realize that there's money to be made, not sooner than that.
@Ms Daisy i quiet agree with on you that. People governing the affairs of these developing nations are so corrupt. Education - basic learnings are being provided but infrastructures to aid learnings never put in place.
In addition, aids from the wealthy countries as well as from UNO's sister organisations to the larger part of the developing nations specifically meant for basic amenities such as poverty eradication through education ( Classrooms,Communication Gadgets, Books & etc) are partly/mostly diverted to private use by the people in authorities.
Also, most foreign investments are hijacked by the corrupt leaders. They use that means to circumvent whatever policies supposedly guide businesses so that mass number of the people could benefit. As result of this, deny vast majorities then continue to impoverish their nations - enrich themselves.
Meanwhile, political revolution is fast spreading across the developing nations with the aid of technologies - internet, smartphones, and tablets comupter which people employ to voice their minds for alternatives and changings. I see hope for foreign investors to explore the vast untapped markets potential lurked in these regions anyway. Let us keep our fingers and toes cross for sometime...
You nailed the needs to be accomplished on the head. Sadly many of the developing economies have poor leadership or repressive ones. All the good ideas you stated just go to waste and the opportunities for their communities left untapped.
Government of the developing economies should take advantage of the CSR programs of the companies investing in their country. They should also encourage social entrepreneurship in their community so that the investments would not solely dependent with foreign investments.
I do agree that investment in education provides a clear boost to economic development,better education should become the top priority because it empowers the people to help themselves and thus helps to improve governance.Better education leads not only to higher individual income but is also a necessary precondition for long-term economic growth.
I think it is also important for the developing economies to retain their talent. Many of the developing nations are losing their best brains to economies which already are very advanced, because of obvious reasons. Government regulations are neccessary to ensure that brain drain stops, but importantly in democratic set-ups, it is important to keep the young talent interested in the country by improving governance in the first place.
The country of Brunei is a great example of how citizens should live. All people have access to free healthcare from public hospital.The small wealthy economy is a mixture of foreign and domestic entreprenuership, government regulation, welfare measures, and village tradition. Substantial income from overseas investments supplements income from domestic production. The government provides for all medical services and subsidizes rice and housing. People don't have to worry about living. It's like living in utopia
@t.alex: I think any companies would be willing to spend money when they see high return on investment. But sometimes the companies go to those places where eventhough the return on investment is not maximum but it is easier to operate and there is less bureaucracy.
That is right and true and francly, that's what i believe we mean when we say education.
It's not the education that has kept developing nations where they are that will take them to where they need to get to, but quality education that exposes them to trends, and information across the globe as they happen in real time.
The only way to compete and not just keep tailing the developed nations is to learn at their pace.
I do agree that education is one of the catalysts to development. But I believe what the developing nations need more is current information. Some of the educational systems in Subsaharan Africa is still based on the old colonial system of breeding blue collar workers. The future is the sciences and technology as well as information about current things.
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Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
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Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.
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