There are countless articles, websites, books, and journals devoted to analyze the modern business world. A quick look through the headlines of these publications will show that a few trends have emerged and are still impacting the global market in interesting and unexpected ways. The biggest influence on modern business is technology. Not only has the industry taken off in its own right, it has shaped the way that other industries build and grow. Primarily, it has boosted growth in the global market, and while this is indeed a great thing, it is something that many businesses are struggling to keep up with.
For Dr. Maurice Antoine Roussety (on AuthorStream here) this globalization of the world’s economy is something that he has focused on as both an entrepreneur and an academic. As a financial and marketing expert, expert in franchising, and researcher in the field of business, he has spent years studying how the current market is shifting as a response to these advances. He has a Masters of Business Administration as well as a Masters of Leadership from the University of New England in New South Wales. He also holds a Ph.D. in Intellectual Property and Franchise-Business Valuation from Griffith University in Queensland. This background in academia helped him write his thesis paper, “An Integrated Economic Model for the Evaluation of Franchise Systems – A Synthesis of Agency and Finance Theories.”
The number one change that we are experiencing in our global market is a resurgence of the franchising industry. In Australia alone, the franchise market generates revenues in excess of $144 billion and directly employs more than 460,000 Australians through over a thousand franchise systems. The reasons for this prominence in franchising are complicated, but it essentially boils down to the fact that the market is more competitive than ever before. This has turned many professionals away from starting their own businesses. Rather, they are taking on franchising, which already have an established client base, and therefore, a higher chance of succeeding.
For Dr. Maurice Antoine Roussety, redefining leadership in a global environment is something that he believes all leaders in their industry should be thinking about. The global market exploded with the introduction of the internet and other rapid forms of communication. Now, however, the world of business will start to shrink because of the ease that professionals have in creating new businesses.