While countries seemed as distant and unknown to each other at the turn of the century as planets are today, the current century and particularly the last decade have seen dramatic developments setting the world well on its way to becoming a global village.

This has happened primarily due to the revolution in communications technology. While radio communication has existed for long, it is only with the advent of television since 'seeing is believing', and more recently with the advent of satellite communication via television, that people in one part of the world can see, uncensored, the differences that exist in various parts of the world in terms of political systems, levels of economic development and products and services available.

This has in turn put pressure on countries and governments to do better for their people who aspire for the best available elsewhere. Thus countries now need to leave behind isolationist policies and integrate into the global economy, upgrading policies and reaping the benefits of globalisation, or else suffer the consequences of poor development in all spheres.

Similarly firms that could get by in hitherto protective environments, with shoddy products and services will be unable to do so in future. And firms that are proactive, planning for the future, taking advantage of global trends, making appropriate moves at whatever size and in whichever locations they operate, will be the ones to succeed in the decades to come.