Submit your industry releases to iTWire
iTWire wants to hear from you. In Industry Releases we’re offering you the opportunity to spruik the latest news and announcements about your company, organisation, products and services. We’ll look at your submission and, if we think it’s appropriate information to give our readers, we’ll publish it. We reserve the right to reject your submission for publication. Submit press releases to iTWire
 
Follow iTWire on Twitter

About iTWire

iTWire is all about technology news, information, jobs and community for the IT and telecommunications industry professional. Subscribe to our free ICT daily newsletter
Press-release
Western business underestimates emerging countries capabilities E-mail
by press-release   
Tuesday, 17 July 2007
A major new international study by BT has revealed that Western business is not fully prepared for the imminent impact of emerging markets.  While more than six out of ten (64 per cent) directors of large American, British, French and German corporations accept that emerging economies will “reshape” the global business landscape, many seem to have only a rudimentary knowledge of their business environments. Even though a clear majority (61 per cent) of respondents admit it is “crucial” their business is able to work with the economies of Brazil, Russia, India, China and South Africa – the so-called ‘BRICS’ nations – to succeed in the long term, many of them demonstrate worrying ignorance of the realities of those countries: almost nine out of ten directors (88 per cent) could not name the currency of Brazil and 14 per cent believe that vodka is the main product of Russia, for example. 

BT commissioned Datamonitor to undertake the study of 800 senior executives in the US, UK, France and Germany for its study, “Building Business With BRICS.”  The study discovered that more than seven out of ten (72 per cent) Western directors believe that organisations in the ‘developed’ world are better equipped technologically to work internationally than those in BRICS.

Francois Barrault, CEO, BT Global Services, said: “This is a troubling finding.  The message hasn’t filtered through yet that these nations are already equipped to make an impact on the global stage.  They have shown remarkable agility and speed at adopting new collaborative tools and technologies – quicker, in many cases, than in the US or Europe.  Western organisations need to increase collaboration in and with BRICS businesses or risk being left behind. Western executives have the systems in place to work with BRICS. In terms of the technology that enables collaboration between organisations and countries, there is an effective global network in place. But Western businesses need to do more to fully engage with BRICS countries. Successful collaboration between organisations in the West and those in BRICS will be a sign that globalisation has come of age. ”

According to the study, four in five (80 per cent) of directors realise that the necessary information and communication technology is readily available to allow their businesses to work effectively with those in BRICS.  Despite this, the study found that directors perceive data security to be the main barrier to effective collaboration with international businesses, followed by different legislation and/or regulations and political interference.

The full report, “Building Business With BRICS”, can be downloaded from www.bt.com.  Other findings include:

·       35 per cent of directors do not know the currency of Russia, 55 per cent do not know the  currency of India and 65 per cent do not know the currency of South Africa

·       India is perceived as the most comfortable BRICS economy in which to do business, significantly more than China, which was rated second (30 per cent to 23 per cent)

 
< Next story in category   Previous story in the category >
iTWire user statistics Visitors last 30 days
694,279
Subscribers 15,210
#1 independent technology news advertise here
  •   *  
  • Search
  • AdvSeach
  • Login
  • Events
  • FreeStuff

Submit your press release for publication here
- Advertisement -

Featured Whitepapers

Vendor submitted press-releaseVendor submitted press-release

1