The G-20 Summit and Community Involvement

In one of our previous blogs we wrote about the G-20 Summit that will be held in Pittsburgh this September. As we stated, Pittsburgh was chosen because the city is a model for the restructuring of the US and the global economies. Pittsburgh's economy, once based on steel and manufacturing had to change in the 1980s. Now the city's economy is focused on technology, healthcare, and robotics. Additionally, many of the new businesses and building in Pittsburgh are environmentally friendly.

Community involvement and interest has exceeded many peoples' expectations. In fact, hundreds of community members and business owners have attended several planning meetings. An IntellaCore representative attended one of these meetings and found that the community was very supportive of the summit.

Their ideas included the following:

• Put welcome signs inside the airport and outside, in all foreign languages presents
• Take delegations on a tour of Pittsburgh highlights
• Make lobby posters to welcome all 19 countries
• Downplay the sports
• Promote local food and no bottle of water
• Exhibition of green businesses
• Opportunity for protestors to speak
• A short video to present the city – in social media
• Jazz concerts to highlight African American culture
• Create a drama of public voice
• Manufacture a yellow and black button with “I’m from Pittsburgh” for citizens
• Teach what is the G20 to children and students of all age
• Organize public transportation
• Emphasize the medical research & role of this sector in the local economy
• Promote the local economy, local companies in each event

Many of these ideas came from business owners hoping to benefit from the summit. As the conference approaches, we are hoping that there are more ideas that will benefit the Pittsburgh region as a whole. With the community's ideas, we can see that the people of Pittsburgh are recognizing that the G-20 Summit is an excellent opportunity to highlight Pittsburgh's economic opportunities for continuous growth. As the Summit approaches, we hope that Pittsburgh businesses try to move out of their regional box and into the global, Internet economy.

Do You Know What You Don't Know?

So you're a regional business planning to stay regional. Should you care about doing business nationally, or even internationally? Companies must know how to break out of their regional box. Competitors, domestically and internationally are planning to enter your market. You must have a game plan to deal with these competitors.

-Did you know that 90%+ US GDP is produced by companies with fewer than 25 employees?

-In 2007, US exported $1,6 trillion worth of goods and services, a 13,1% increase and imported $ 2,3 trillion goods and services, a 6,8% increase

-10 industries most likely to be extinct in 10 years : record store, camera film manufacturing, crop dusters, phone books, newspapers, pay phones, used book stores, piggy banks, telemarketing, coin operated arcades

-More than 100 million Americans belong to groups that have an Internet presence


Do you realize that the US is no longer the leader in technology advances? The rest of the world adopts new technologies at a rate that is between 3 to 10 times greater than the US. The internet and technology can help sustain your business into the 21st Century. As technology evolves you must stay ahead of it.

-70% of the global PC sales are outside of the US

-86% of internet users are outside of the US

-The US ranks 7th in the innovation category

-The amount of new technical information is doubling in two years


The Path To Success: Many entrepreneurs ignore the above facts because they have no desire to go global. The good news is, it's not about “going global”... just focus on becoming "competitive” in this global, Internet marketplace.

Now the good news. As a business owner you can empower yourself to control your business's destiny. Every business needs three things to compete in this new borderless Internet economy:

- Information: Market data and competitive information that will provide a path to success.
- People: Connections to properly vetted individuals and strategic resources to help you compete.
- Resources: The best possible Internet Communications Technologies …the tools to compete!

By using people and resources in the correct manner to achieve maximum efficiency you can increase sales and decrease costs. Your Path to Success starts with you analyzing your business and taking the corrective actions to improve your network.

A Local Perspective of the G-20 Summit

As many people know, the next G-20 summit will be held in Pittsburgh, Pennsylvania in September. This summit will bring together leaders from Australia, China, France, Germany, Great Britain, India, Japan, and Russia, among others. These countries represent 85% of the world's production and 80% of the world's trade.

Pittsburgh was chosen for the summit because the city has transformed itself from an industrial city that lost 250,000 steel-related jobs in the 1980s, to a city that embraces the health care, technology, and robotics industries, and has an unemployment rate more than a percentage point below the national average. The city's growing focus on green engineering and green technology also played a part in the decision to hold the conference in Pittsburgh. Along with being a symbol for economic recovery, Pittsburgh was recently named the United States' Most Livable City by The Economist.

IntellaCore is based in Pittsburgh, and we will be documenting the ways the conference affects this area on this blog. We know that it is a global, Internet economy, but many businesses in this area do not. We are hoping that this summit helps many business owners to realize that there is a great amount of opportunity available to them. Many local businesses have already offered their services to the planning committee. Many more will seek international business to develop their business, and to further improve the local Pittsburgh economy.

Keep reading this blog for a local perspective of the G-20 summit.

How to Improve Your Competitiveness in a Global, Internet Economy.

Now that you understand that your business competes not just domestically, but internationally, virtually, and environmentally, how can you use it to your advantage? You can take this knowledge to make decisions and take action to make your business more competitive in the global, Internet economy.

We have laid out a few strategies you can easily take action on to become more competitive. These strategies are fairly easy to initiate, and they can help you to reduce costs, innovate, become environmentally sustainable, empower your company and yourself, and build your network.

Reduce Costs:
This is something every business constantly tries to achieve. But are you focused on reducing the right costs? You might want to think about looking into your supply chain management options. You could work on collaborating with your suppliers to consolidate goods into fewer shipments, reduce packaging costs, and work on simplifying your process, among other strategies.

You could also cut costs by looking at the technology you use every day. Are there any programs with monthly subscription fees that you don't really use? Are there other programs that you use, and you know there are less expensive versions available? Do you have the right collaboration tools for your workforce?


Innovate:
In stiff competition, the companies that can innovate and adapt to the ever changing business environment are the ones that succeed. One way that companies innovate is through research and development. This could be as simple as surveying your customers to understand what your company could be doing better. You may spend a bit more money in the short term, but the results will pay off well into the long-term. If you focus on improving your products and services to a point where you are better than your competitors, customers will notice.


Become Environmentally Sustainable:
Environmental sustainability is not just another buzzword. In fact, the idea will grow in importance as we realize that the world's non-renewable resources are becoming scarce. Improvements that you can undertake in your own business include starting a recycling program, and building improvements that help to cut down on your use of electricity. You can also reduce your travel by taking advantage of Internet and Communication Technology to collaborate with employees and clients.


Empower Your Company and Yourself:
Gathering market intelligence on domestic, international, virtual, and environmental markets is one of the most important things you can do to empower your business. If you know what is going on in all of the various markets you compete in, and the ones you do not compete in, you can clearly define your challenges, and devise strategies to overcome those challenges.

Additionally, you can take the time to improve yourself. No one is perfect. Attend a seminar, join a professional organization, or even take some time to read case studies pertaining to your industry. Whether you are in management, sales, or HR, there are always chances to develop professionally.


Network:
How many times have you heard that "It’s not what you know, it's who you know?" Well, that model of thinking is somewhat true, especially now. Your company does not need to own manufacturing plants or distribution centers to get products to customers. You can develop a global and virtual business network to orchestrate a network of suppliers, manufacturers, and buyers. On a smaller scale, who do you know, and how can they help you to make your network more powerful?

You can even use social media like Twitter, blogs, and LinkedIn to expand your virtual network, and make your company active in the global, internet economy. Sign up for an account, build your profile, and watch how your network grows.

Compete, Innovate, and Grow... Today

Webinar: Why Your Marketplace Has Changed and What You Can to Do About It

Thursday, June 18th 2:00PM – 3:00PM EDT

Join Us for IntellaCore’s Webinar

"Path to Success"

Today you are doing business in a global, Internet economy. It is not a matter of choice. It is a fact. Learn what has happened to your current marketplace in the last three years and what you can do about it today.

This impactful, fast-paced webinar will give you the direction you need to make decisions and to take action. We will discuss how to view today's rapidly changing business environment, and you will learn how you can become more competitive in your industry.

What you will learn: How small businesses are taking advantage of today's marketplace to reduce costs and increase sales.

What you will take away from the presentation: A simple, clear understanding of how business leaders must approach their business today as well as the threats and opportunities of their marketplace.

What it means for your business: Simple, practical, steps you can take now. Empower yourself to grow your sales, to reduce your costs of business, to remove uncertainty about your marketplace, and to make your business sustainable for the future.

Please register for this free event by clicking here

There is no cost to attend this event.

For more information you may contact:
info@intellacore.com

The Importance of the 21st Century Business Perspective

In the last post we explained the 21st century business perspective. This perspective is important as the business environment continually evolves.

Below are links to stories that describe how the business environment is changing today. We have divided these links into sections that relate to the domestic, international, virtual, and environmental aspects of the 21st century business perspective.

Domestic

Even though we are in a recession, some companies, like Intel, are still spending on research. NOTE: You must click on the video "Research, development and recession."

International

George Soros claims that China's economy will grow faster than people think it will. Along with that growth, China's economic influence will also increase.

Thinking about outsourcing? Do some research first. Here are the 10 Riskiest Locations for Outsourcing. Additionally, here are the 10 Safest Places for Outsourcing.

Virtual

This study claims that 46% of UK CIOs are hesitating to adopt the cloud computing concept because they don't know exactly what it is. This article states that cloud computing is going global, with researchers in Russia, South Korea, Malaysia, Vietnam, and China, and projects in other countries around the world. Which viewpoint do you have? Do you know what cloud computing is? Or are you part of the global group that has taken advantage of it?

Are you taking advantage of technology now? Here are 6 ways tech can help your business in the recession.

Environmental Sustainability

As more and more resources become scarce, the environmental perspective will become more and more important. Here is an article on innovating sustainably to emerge from the recession and achieve long-term growth.

Finally, it is also important to look within your company. A company cannot compete in domestically, internationally, virtually, or environmentally if it has weak leadership. Are you or your managers guilty of any of the 10 fatal flaws that derail leaders? Have you built an "innovation factory" to make your company's innovation repeatable? Do you have an open-book management style that empowers your employees to feel responsible for the success of the business?

What is a 21st Century Business Perspective?

Businesses must realize that they must now operate in a 21st century business model with the perspective of a 21st century company. But what is a 21st century business perspective? A 21^st century business must operate with the perspective that it is a global, Internet economy. As a result of this, all companies must have 4 perspectives – Domestic, International, Virtual, and Environmental.

Most businesses begin life as local or regional businesses. As a result, many business models operate in a “regional box”. But, now that we are living in the 21^st century, that model is outdated. Because of globalization each company must be integrated with the Internet and technologies appropriate for each business.

If a business is not prepared to compete internationally, management should develop a game plan to achieve specific goals. At the very least, a company must know what to do if it receives a foreign, unsolicited inquiry. Additionally, companies may start to seek foreign business through a partnering model or an international sales department.

Finally, and perhaps most importantly, businesses must also have a plan to sell their products online. Think of it this way – what is the first thing you do when you are researching a company to do business with? You Google the company, right? Even prospects looking for employment will Google a business before the job interview. Do you want prospective customers and employees to view your website as it is right now? Will they be able to find all of the information they need to decide to do business with your organization? A strong website is necessary in the new global, Internet economy.

Just a few caveats for businesses:

Make sure to devise a plan that makes sense for your business

Manage your growth - Don’t grow too fast too soon. Just make sure that you are able to adapt effectively.

Keep an eye on your competition.

We can use Blockbuster as an example of a company not adapting to the 21^st century business environment. Blockbuster was a billion dollar company that failed to recognize that the current business model they had would soon be outdated. When Netflix started, Blockbuster decided that Netflix was not a major threat to them. Netflix rented movies exclusively online. Blockbuster thought that their 5,500 stores could compete against a company that did not have even one physical store. Within a few years, Netflix has become the biggest movie company, surpassing Blockbuster. Netflix would eventually force Wal-Mart out of the online video rental industry as well.

Over the next several weeks we will discuss ways that companies have changed their business model to meet the demands of a global, Internet economy.

Communicate, Collaborate, and Innovate

This Month's Intelligent World continues to bring you the most important information that is relevant for your business activity... today. Our research group chooses the best articles published on both global business and internet technology that will help you think about your business now. Our multimedia approach finds the best in print, video, and audio and brings it to you directly.

In this issue of Intelligent World, we have highlighted a few of the major changes happening in today’s business environment – a global, internet marketplace for every company. Technology is one of the factors driving the rapid pace of those changes. As technology advances it allows us to communicate, collaborate, and innovate with unprecedented ease.

In our past few entries we have tried to emphasize the fact that change is the only constant in the global, Internet economy. Because the Internet has accelerated the rate of change, it is not about what happened in last 10 years, about what has changed in the last 3 years.Now, even small businesses are finding markets online through company websites and social media. In fact, in a recent study, Warrillow & Co. found that 40% of small businesses used blogs in their business, and small business blog readership increased by 122%. These are numbers that small business owners need to pay attention to.

In this global, internet economy, you can watch change happen and see the world pass you by, or you can be a part of the change. Every business must realize that it is a global, internet economy. The companies that realize this and transform their operations in a way that will allow them to use technology to communicate, collaborate, and innovate will flourish in this new, dynamic environment. The companies that don’t realize this – or worse, realize it and choose to do nothing – will fail.

Some questions for business owners to consider:

Do you have an Internet presence?

How are you using technology in your business?

How do you collaborate with your company’s staff?

If you are a business owner and cannot answer all of these questions, you might want to put some thought into it before the global, Internet economy shifts again.

5 Ways Technology Has Changed the Way We Do Business

In technology, it’s not about the last 10 years. It’s about the last 3 years. In the past 3 years, the rate of change in regards to technology has increased drastically. Businesses processes have changed and made organizations more efficient. At the same time, technology has opened lines of communication, allowing businesses to communicate and collaborate beyond borders with ease. Collaboration is the future of business competitiveness as companies become more innovative, connect to people better, and overall act faster in the "flattened" marketplace of today's global, internet economy.

1. Technology has made business faster
It is undeniable that technology has made business move much faster than before. Personal computers and the Internet have revolutionized the way we work. E-mail interactions have replaced memos, phone calls, and faxes. Smartphones can connect you with your entire business network while you are out of the office, allowing you to respond quickly. Workflows and automated tasking systems have cut down on organizational bureaucracy, streamlining operations. Speed, matched with technology, adds flexibility and responsiveness to interactions.

2. Technology has allowed for far-reaching collaboration
The Internet has allowed geographically dispersed teams to virtually meet from anywhere in the world. Conference calling, video conferencing, e-mail, cloud computing, Skype, and instant messaging have flattened the world. Additionally, with social networking sites like LinkedIn, businesses can connect to an even larger business network. The result is greater productivity and a wider blend of talents, abilities, and viewpoints.


3. Technology has flattened the marketplace
In the same way that technology has allowed for collaboration beyond geographical borders, technology has also reduced the barriers to entering markets around the world. This allows buyers and sellers from around the world to connect and do business. Skype, video conferencing, and online translation services help people to communicate and close deals.

4. Technology in business encourages innovation
Don’t like the way something works? Do you notice that customers have a certain need that is not being met? Do something about it. An example is Zillow, a website created by two former Microsoft employees that helps people get through the maze of real estate transactions. When they launched the site, real estate agents were initially against the idea, but now they collaborate with buyers through the website. The two noticed a need for transparency in the market. With the site, they have created a way for buyers and sellers to share information on houses for sale.

As technology advances, the prices are dropping and it becomes more user-friendly. Many people have the tools to design new and innovative software to solve common problems and improve efficiency. Additionally, technology is becoming more accessible to users all around the world, including users in developing countries. The next big thing could be in development at this moment in Rwanda.


5. Technology has changed how we connect and sell to clients
Perhaps the most important change, technology has allowed businesses to connect and sell to clients in new ways, including mass e-mails, blogs, and recently, Twitter. These tools allow businesses to stay relevant in a customer’s mind, and they help prospective customers to find new companies to do business with.

When a prospect learns of your business, the first thing they will do is Google your name. Next, they click on the link to your website to learn about you. The prospect comes to you informed about what you do and who you are. Do you have a plan to capture the business?