What First World Businesses Can Learn from Third World Economies
We need three things to turn our economies around. We need discipline. We need clarity. And discipline and clarity produce trust.
Third world countries have learned valuable lessons in their struggles to modernize their economies. These lessons, Peter Henry points out, can be applied to struggling first world economies as well.
Henry, Dean of NYU's Stern School of Business, says there are three lessons in particular: "We need discipline. We need clarity. And discipline and clarity produce trust."
In a lesson on Big Think Edge, the only forum on YouTube designed to help you get the skills you need to be successful in a rapidly changing world, Henry considers these characteristics from a country level and then applies them to the level of a company.
"When leaders of corporations demonstrate the kind of discipline and clarity that the best leaders in emerging economies display in turning around their countries," Henry argues, "then just as those key citizens that needed to buy in to the change of direction in countries did so because they trusted their leaders, the employees, the stakeholders, the shareholders of corporations will also trust the leaders of corporations."
Sign up for a free trial subscription on Big Think Edge and watch Henry's lesson here:
Watch the video below and sign up for your free trial to Big Think Edge today.
Image courtesy of Shutterstock
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
The Canadian professor has an extensive collection posted on his site.
- Peterson's Great Books list features classics by Orwell, Jung, Huxley, and Dostoevsky.
- Categories include literature, neuroscience, religion, and systems analysis.
- Having recently left Patreon for "freedom of speech" reasons, Peterson is taking direct donations through Paypal (and Bitcoin).
Cosmologists propose a groundbreaking model of the universe using string theory.
- A new paper uses string theory to propose a new model of the universe.
- The researchers think our universe may be riding a bubble expanded by dark energy.
- All matter in the universe may exist in strings that reach into another dimension.
Despite incredible economic growth, it is not necessarily an investor's paradise.
- China's stock market is just 27 years old. It's economy has grown 30x over that time.
- Imagine if you had invested early and gotten in on the ground floor.
- Actually, you would have lost money. Here's how that's possible.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.