Innovation, speculation and globalization

Richard Arkwright, a British inventor changed the face of the world. In 1767 he developed a spinning frame, a machine for spinning thread in preparation for weaving. This invention replaced a hand-operated device that required a person skilled in the process to operate. By 1768 his first horse powered mill was in operation. With this new automation, each worker in Arkwright's mill could do the work of fifty hand spinners. England's industrial revolution modernized textile manufacturing, so inexpensive were English textiles they began to export them to India, decimating India's traditional weaving trade.

There are many examples of this type of activity through out the ages, in 1859 China ruled the supply of tea, but by 1899 India outpaced China in tea exports which had a devastating impact on China's tea farmers.

In the 1600's and the early 1700's Arabian coffee ruled the world, by the middle of the 1700's the Dutch took the lead. Years before they exported coffee plants to their colonies in South America. With these plants now mature and producing Arabian coffee found it difficult to compete.

The list goes on and on, from the earliest times, sourcing and globalization has been documented and utilized and "market disruptors" have always been introduced from around the globe. Today as information technology further flattens the world, it remains clear that a distinct business value must be identified at the individual level, their process, their company and their region. Better, faster and cheaper ways will always be introduced as marketers look for the next big thing. Be prepared by weighing options and analyzing your risk, engage and challenge yourselves in sourcing options and be proactive in defining your personal and business value and understand where it fits into your companies enterprise strategy. If you don't know, ask if you dont have one get one.