Within last decade, businesses witnessed unprecedented challenges locally and internationally than previous generations or era. Several businesses strived while evolving through modern business and management structures on the local and regional levels into the international market place, also referred to as Globalization (Oxford Analytica, 2008, p. 2).
The foundations of predictable traditional models of organization for this generation, in the business strategy, planning and management contexts have been rocked by seemly unexpected unending developments like war on terrorism, natural disasters, financial meltdown, subsequently, the current Global economic crises in 2009. International barriers to international trade for global businesses – the social and cultural barriers, economic barriers, legal and political barriers and free markets (Boone & Kurtz, 2007, Figure 4.2) are complicated by the new developments.
Apparently, information technology with the internet information superhighway greatly stimulated the process of globalization, increasing connectedness, Business to Business (B2B) transactions, interdependence of global trade and financial markets seamlessly. Globalization is envisaged to aid rapid economic development by allowing for specialization, the efficient allocation of productive resources, and reduced costs through competition. However, these positive aspects come with the limitation of increasingly potential economic vulnerability. As economies have become more reliant on trade and private capital flows, they have also become more vulnerable to the volatility of such flows (Kurihara, 2008, p. 89).
This paper delves into new methods, solutions and options to improve on existing business operating framework, models of organization and business management practices for the Global Entrepreneur in contemporary business landscape. In this paper, you will find highlights on improving selected weak links and the addition of new or improved recommended solutions. The recommended solutions will be robust and dynamic, enough to mitigate or eradicate much of the risks, and the ones associated with lack of transparency, with tighter control within the internal and external business system of systems.