Instead of Devaluing Global Business Initiatives, Should We Be Concentrating on National Brand Building?
Krishnamurthy suggested that a return of mercantilism is not a threat, and that "the present dilemma is probably an aberration that will taper off in due course." Alejandro Ocana stated bluntly, "Global initiatives must grow more than ever before."
| Respondents raised an interesting concept of the importance of a "national brand." |
| —Jim Heskett |
Others, while agreeing with this thesis, were not so sanguine about whether this will happen without greater efforts to influence foreign policy by leaders responsible for global business initiatives. Michael Butler states, "Now is the time to face the facts. Our brand" (apparently referring to the U.S.) "is in decline in parts of the world." Stating that " ... 'manifest destiny' is a dead concept," Bob Nemens suggested that "those companies that are respectful and aware that in the global village the villagers drive the economy should be more successful." Flavius Chircu said that "... business leaders should get together with political leaders and figure out where and how to compete."
Amadeo Isart was even more direct in commenting that "It is the responsibility of business leaders (in both the U.S. and E.U.) to take charge of the situation. We cannot allow politicians to act alone in their never-ending quest for votes and popularity." C. J. Cullinane, without being specific, provided what may be an appropriate "tag line" to these comments when he said, "Global initiatives should not be devalued but should be re-evaluated with some new criteria."
Respondents raised an interesting concept of the importance of a "national brand." This suggests another set of questions. What is it that comprises a national brand? Who's responsible for a country's national brand? To what extent is it an important factor in determining the general success of global business initiatives? If it plays a critical role, to what degree should the world's business leaders be involved in brand building processes? To what extent should they take responsibility for building the brands of several countries in which they do substantial amounts of business? And just how is this done most effectively? What do you think?