Strategizing Success: For a Stronger, More Competitive National Economy in an Emergent Market Facing Crisis
Strategizing for success can be the lifeline of your business. Focusing on surviving may actually be your extinction.
In a crisis-struck economy, such as Jordan, a newly emergent free-market economy, suffering from slowdown, and possibly even recession, a massive border lock-down, survival just won’t cut it.
Granted, competing in a slow market, while opening up to the world’s most advanced and capacitated corporations, whose eyes are set on the virgin potential of new markets, is to say the least, not easy.
It is more difficult to compete, as a start-up or a conventional SME or family-businesses, in such a setting, that it is to compete in what may seem as a saturated market.
The thing, however, is that there are only a few main steps to making it through the stormy seas of economic crisis in an emergent market.
The Economy of Crisis
A market is an evolving organism. It is an ongoing cycle, and the only factor, which may break it, is political strain.
The political situation is perhaps the only subjective factor in a state’s overall macro-environment, which affects the macro-economy, and vice-versa.
Economic crises reflect on the country’s politics, which reflects back on the economy, making it less appealing for investments and foreign business.
Domestically too, the national business sector begins to wobble under the weight of deteriorating purchasing powers, hesitance to invest, and the public’s increasing tendency to stock-up on whatever excess currency they have, if any.
More so, rising inflection also contributes to the erosion of purchasing power and the incomes of middle-class segments in society.
In general, inflation worsens living conditions, which imposes massive pressures on a country’s political economy.
This is especially true in newly emergent free-market economies like Jordan and other third world countries.
This does not mean that the economy, or the country for that matter, is destined to damnation.
On contraire; with enough reforms, guided by accountable governance and economic wisdom, a country’s economy can prosper through the storm.
In the case of Jordan, where the political situation is fairly stable, despite the enflamed region, the root of unrest and strain is economic, for the most part.
Jordanians, having waited out the ‘Arab Spring’ and seen its outcomes, are not interested in any such ventures.
If anything, Jordanians want the economic noose to loosen up, more than anything!
The only threat to Jordan’s stability, thus far, is ISIS, and their threat is marginal.
The country’s main issues are poverty and unemployment, despite immense unexploited natural and mineral resources, next to a huge reserve of untapped entrepreneurial opportunity, innovation, and an obsolete education systems, an issue currently being addressed.