Monday, November 23, 2009

Your Business is Not Your Island

Not sure when this philosophy started but after so many bank failures, major corporations dissolving, and tons of small and medium size business doors closing; the reality we are connected should have birthed a light bulb over our heads. “Hey! Perhaps I need to think broader then the walls of my firm or my stockholders portfolio.”

The reality is when a decision is made in one organization it has an impact on a number of people, groups, and cities. Strangely the budget of a major car dealership in the mid-west has an impact on a small business in California where they don’t even use their product. Imagine that! What about vice versa? The closing of a number of small businesses located in Texas has an impact on a major International company and its budget.

Today, our companies are not our own small islands in which we can afford to make consistent bad management decisions. We must begin to think on a broader level and ask ourselves constantly how my company will affect the global market. Then ask ourselves how will the global market affect my business?