Doing Business in Real Time
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The global economy has a life of its own, it lives in real-time, and we are all part of it. Hello brave new world.
Visibility Can Save the World
We’re waking up this year to how fast the world is changing. Practices that were once considered just a personal virtue may soon become corporate policy. I recently heard a presentation from a VP of IT at Wal-Mart and she talked about their plans to use technology to promote sustainability and environmental conservation.
She spoke at a monthly meeting of the
With visibility like this we could make very effective decisions about what products to buy, what products not to buy, and how much to pay for them. We already provide detailed financial information to buyers of stocks, bonds and commodities and the billions of informed decisions made possible by this information creates a dynamic that causes those markets to be very efficient in the way they allocate resources and set prices.
A similar dynamic could also change the way we make and use products and services. Government regulations wouldn’t be needed to enforce sustainability. Governments would just need to provide the oversight that ensures the data is accurate and timely, just as they do for stock markets. Informed buyers and sellers will do the rest.
As we get visibility into the supply chains that provide the products we use, free market dynamics will emerge and they will change the way we live and work on this planet. If given a choice, I would rather buy products made with sustainable practices. I’ll even pay more for products made in a sustainable manner because they are worth more to me. For instance, if I go to buy lumber to build a new back porch and I have a choice between lumber that comes from clear cutting a tropical rain forest or lumber that comes from a sustainable tree farm, I’ll buy lumber from the tree farm even if it
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