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Former House Speaker Newt Gingrich, On Globalization And The Regulatory Environment
By David Parnell (original source Forbes)
“As the world gets smaller and industry gets bigger, playing fields that were miles and leagues apart are closing in on each other, commingling competitors of all shapes and sizes. A major bank loses a real estate development opportunity to crowdfunding; A Wisconsin-based electrical engineering company loses a major job to India; A hospital in Cincinnati loses a potential merger partner to a Chinese healthcare system. From your local mom-and-pop shops to the largest multinationals, foreign competition and/or investment is at their doorstep. And as access to this ever-leveling landscape grows, so does the size and density of the regulatory environment.
Now, here’s the thing about regulations: In a vacuum, you need only to understand their legal aspects to navigate them. In the real world, however, it is equally important to understand the politics, relationships, cultural nuances, and more, that surround them if you are to effectively work within them. This is especially so in less-than-ethical geographies – see Transparency International’sCorruption Perceptions Index for examples.”
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