Monday, July 2, 2007

Wikinomics & Micro Multinationals

“Staying globally competitive means monitoring business internationally and tapping a much larger global talent pool”

“We must collaborate or perish – across borders, cultures, disciplines, and firms, and increasingly with masses of people at one time.”

“[I]t pays to have global capabilities including truly global workforce, unified global process and a global IT platform to enhance collaboration.”

Don Tapscott and Anthony Williams are absolutely correct to make the above statements in their book Wikinomics. However, it is easier said than done when running one of the small businesses that make up 90% or more of any country’s economy. Thinking globally is great, but a small business requires the infrastructure, know how, relationships, understanding of cultures and the local market needs to act globally in this era of borderless economy. Given the limited resources of a small business, it is not just difficult but next to impossible for a small business to be “truly global” with the tools, technologies and business management software of year 2007.

Don and Anthony themselves mention in their book that “Something much bigger and bolder is required to master today’s realities”.

Having established Heaven Fresh offices and distribution centers in the United States, Canada, Germany, United Kingdom, United Arab Emirates, Saudi Arabia and Pakistan, we are extremely well aware of the excruciating pains of acting global with limited resources and inadequate financing.

Even in this Internet Era of 21st century all small business are caught in a catch 22 situation; invest in business management software and consultants first that would help them expand by becoming more efficient, global and profitable, or first grow the business to a much higher sales level to justify good integrated business management platforms as well as expensive consultants with international perspective.

All of today’s businesses belong to one of the two categories. They either get the pieces of software for low cost/free and put them together or buy an expensive comprehensive package and hire expensive consultants to customize it. A small or medium sized business neither has the time to go for the former nor has the budget to opt for the later.

According to Don and Anthony in Wikinomics, “Today’s most exciting and successful web companies are stitching together their own services from shared databases and lego-style pieces of web software.”

This is true because even the most comprehensive business software packages do not have the necessary intelligence built into them to conquer today’s challenges. First of all, not every business has the luxury of having the know how of putting the pieces together. Secondly, if a viable solution of a latest business problem has already been developed then a business owner/manager should not have to re-invent the wheel thus taking focus off his/her core business or have to pay an arm and a leg to take advantage of a cutting edge solution. There must be a simple, easy and cost effective way for one business (consumer) to find and use the latest solution in an integrated fashion without devoting unnecessary precious resources. It should be equally hassle free for another business (producer) to share their solution with the rest of world and even profiting from their efforts.

Don and Anthony sum it up very nicely, “The companies that figure out to harness the power of open platforms while providing adequate incentives to all stakeholders are poised to reap great rewards.”

A business management software based on the collaboration and affordability is needed to help companies get organized, streamline processes, collaborate globally and grow rapidly so that ‘a new era of online “micro business” could be born’. An era of Micro-Multinationals.


Anonymous Anonymous said...

Thanks for this post!

April 13, 2009 7:34:00 AM PDT  

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