[LeadersWorkshop] ~~.Winning ways in Mngmnt..Newyork Times Article..

 

WINNING WAYS IN MANAGEMENT   It's time Europe invaded US again   Q:        What are your thoughts about European business right now?                                                                          --Oliverstoldt, Interlaken, Switzerland   A:         We don't get why European consumers are flying over to the United states by the 737 load to buy up everything in Us shopping malls.  But European companies aren't engaged in the business equivalent. Yes, just last week, the Belgian brewer in Bev Made, $46 billion bid for Anheuser –Busch, and there have been smaller deals.  But the relative paucity of European acquisitions in the US is perplexing. What's going on?  The  lack of available credit is one factor: Most European banks don't look that different from their American counterparts.  But last week, during meetings with executives in the UK,  Switzerland, spain and Itealy, we repeatedly beard two other explanations.  First, the US has too much political and economic uncertainty for most investors.  And second, the US just isn't "where it's at".             By contrast, the Brics – Brazil, Russia, India and china – decidedly are. "Russia scares many of us," as one executive put it, "but you have to be in India and china." In spain, Brazil was also on everyone's lips.             When it comes to brics, we're not just talking about the usual GDP stats, which show china growth up 11 per cent in 2007 and india's close at about nine per cent.  We're also talking about the kind of figures that appeared, for instance, in a recent Mckinsey and Co presentation, which said that China will build 24 new airports by 2010 and bring online 400 gigawatts of electrical capacity in the next five years, equivalent to the amount used by  NewYork City __ times 30.             At the same time, India'sfinancial services and technology industries are adding tens of thousands of jobs a week.              No wonder Europe is looking the Brics.  It's what they're not seeing in the US that has us confused.  One of the fundamental tenets of management is that you have to eat while you dream – that is, you have to make money in the short-term while you invest for the long.                     Any dope can do the former.  All it takes is squeezing everyone and everything you've got.  The same goes for the latter.  Just tell everyone to bug off – you're envisioning the future.  But the real challenge of leadership is balancing today's needs with tomorrow's opportunities. Over-focused             It seems to us that too many European businesses might be over-focusing on the dreaming part.  Growth is great.  But in your entery to such markets, it can be hard to eat.  Some Bricacquisitions might be profitable right away, but many won't be, and it often takes years for de novo startups in china and in India to make money.               Meanwhile, the US still has the largest market in the world, and its economy, while struggling, is by no means out of the game.             With US equity prices down, Europeans, armed with their currency advantage, could make American acquisitions today and feel the impact a lot sooner and surer than "elsewhere".             We're not suggesting that the European investment focus on the Brics is wrong or that acquisition activity in the US is nonexistent.  We're observing only that, roughly 300 years after the last Europeanconquerors left these shores, the time has never been better for Europe to "invade" again.    ----- The New York Times News Service.   Rajendra.Deshpande. Trainer.    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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