A quiet metamorphosis is occurring that will ultimately make Australian business less Australian. Many smaller enterprises are being ‘born global’: immediately competing to be the best in the world. The big corporations have, with the exception of some large mining companies and the departing News Corporation, failed to deal with globalisation. But that is not the end of the story.
A new type of company is emerging: adaptable, ambitious and suited to a cross-border world in a way that Australia’s larger corporations are not. The big corporations are too big to be quick, but too small to be dominant in global business. The born-global companies are nimble and responsive, and as they evolve they will pose a new kind of competitive threat to Australia’s domestically focused corporations.
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From Born global