Think Globally, Act For Your Consumer Base!October 22, 2012 Posted by: Joe Morgan, CFA
"If you're goin' to Winnemucca, Mack, with me you canride."
And so I climbed into the cab and then I settled down inside
He asked me if I'd seen a road with so much dust and sand
And I said, "Listen, I've traveled every road in this hereland!"
- Johnny Cash
We've all been through our ups and downs - emotionally,financially, even literally.
I sometimes think back over my life and all the places I've been.But not just the places, I also think about how I got there andwhy. It's an interesting exercise. Imagine a globe that recordsyour footsteps from the day you were born until now. Take a look atall the places you've been in your life, how many times you went onthe same trip to the same place, how often you crossed state lines,rivers, even oceans. Imagine all this and you will quickly see justhow small the world really is.
But what is the driving force? What makes us get up and go everyday, not as individuals, but society as a whole? I believe it's thefundamental goal of bettering our own lives as well as the lives ofothers - mostly family and friends.
Review your globe once again and think about all the differentsocieties and what their specific goals are. Some very broadgeneralizations jump to mind such as: the destitute in communitieswhere basic services do not exist (running water, etc.) simply aretrying to survive. To be sure, this exists in every country, but isconcentrated on the lesser developed world, specifically Africa andmuch of Latin America and Asia.
Flip to the super-developed world and you'll find these citizensstill want to improve their own lives, but in addition have theluxury to reach out and help those in less fortunate circumstances.You'll also find their methods are quite different.
Because by definition opportunities exist more fully in thedeveloped world, those people can increase their fulfillmentthrough hard work, risk-taking and, yes, luck. More specifically,Americans work hard so they can purchase more tangible things, suchas vacations or high-level services. Other parts of the developedworld are more attune to saving the credits earned from their...Read More