Below article is sourced from Focus magazine published by MCI
Growth has become a global game
We know that the best financial strategy requires diversification and a long-range planning horizon in order to build and sustain portfolio growth. Diversification is just as important as you consider whether and how to develop an international strategy to promote membership and product sales beyond your domestic market.
What is clear today is that associations need to redouble their efforts to strengthen their positions in markets in which they feel they have potential. Inaction, denial, or under-resourcing one’s international efforts is the most risky of strategies at a time when our world is undergoing fundamental change.
In 2011, in response to our clients’ need to better define options to help grow their brands, membership, and product demand, MCI released a global business and economic trends analysis. Using the latest research findings from leading global institutions, we assembled the following 12 megatrends that associations should factor into their strategy and planning.
Below are some key excerpts from this analysis:
New world order – catch-up race for the advanced economies
Innovators and knowledge-creators increasingly reside in emerging markets
Commercialisation of innovation in the age of austerity
Demand grows for western management science
Global labour: not enough expertise at the point of need
Pressures from massive population growth at either end of the pyramid
Think sustainability as an integrated business and product strategy
What to make of these trends?
The future must include international members, customers and volunteer leaders at every level of leadership. Future growth will require getting to know what is locally relevant in other markets to attract new customers and members. It will take products that are adapted to local needs in terms of design, delivery or promotion.It will take openness and appreciation of one’s management culture by improving the capacity to appreciate and manage risk, and being more inviting to others who aren’t like us.