Connectivity and integration drive globalisation – but any brilliant business model must adapt to local contexts. Simply because regional heritage and cultural capital are key components in a flourishing economy.
Still Made Here
Glocalisation – ‘thinking global acting local’ will gain currency to strengthen and support businesses as well as encourage local trade and production. The challenge for any economic activity is to strike a happy balance between international trade and ‘Still Made Here’. Glocalisation sustains our sense of belonging and togetherness in a fast forward world.
Local Cultural Capital
Lack of trust in big corporations and global economic instability have inspired a new openness and fostered the exploration of different business models. The diversity found in local cultural capital is particularly attractive to tomorrow’s people and businesses. As Nobel Prize winner Muhammad Yunus points out: “The system failed us. There’s no reason why we should resuscitate it. We have to make absolutely sure that we don’t go back to the same old normalcy. We should be creating a new normalcy. That opportunity has to be taken.”
Fresh Ideas are Needed
At Davos’ World Economic Forum, Coca-Cola Company President and CEO Muhtar Kent said: “As we enter the second decade of the 21st century, it is clear to all that fresh ideas and new approaches are critically needed to accelerate sustainable global economic growth and job creation, stimulate innovation, and advance human welfare. For businesses, the imperative is both real and pressing and absolutely essential to rebuilding trust which has been in historically short supply.”
Provenance and heritage give brands an edge and people a sense of pride. As ‘the world’s local bank’ HSBC puts it: “Never underestimate the value of local knowledge”. Local craft, storytelling and specialities will become a commodity. New communities or ‘tribes’ will be formed based on shared values and lifestyle sets – even trading local currencies. Employing global connectivity and social media applications, these tribes can communicate globally in viral loops, absorbing new regional flavours and sharing knowledge.
“Civilisation is a heritage of beliefs, customs and knowledge slowly accumulated” – Antoine de Saint-Exupery
* Micro-credit scheme: Nobel Prize winner Muhammad Yunus originally founded the Grameen ‘bank for the poor’, in Bangladesh. The idea of helping people to help themselves by providing micro loans has since spread to Pakistan, Mexico and China. 10 Questions for Muhammad Yunus: Time Magazine >>
* The Brixton pound: Launched on September 17th 2009, the Brixton Pound is a project run by Transition Town Brixton. Campaigning foodie webzine supporting local food producers, Farmers Markets, People Powered Politics and Transition Towns. It is part of the Debate your Plate project.
* The transition town movement has proven to be a community booster from English villages to Australian towns: The conference looks at challenges of peak oil, climate change and how to build community. video
* Buy, Sell, and Live Handmade: The initiative enable people to make a living making things, and to reconnect makers with buyers. And the vision is to build a new economy and present a better choice. The Etsy community spans the globe with buyers and sellers coming from more than 150 countries. Etsy sellers number in the hundreds of thousands.
* Some countries have profited from globalization. China: Reform led to the largest poverty reduction in history. The number of rural poor fell from 250 million in 1978 to 34 million in 1999. India: Cut its poverty rate in half in the past two decades.
1. Herring Bornholm, Denmark
2. Postoffice Christiansø, Denmark
3. Urban Architecture Model
4. 1950’s globe and travel maps
Creativity is what keeps organisations ahead