Too Late to Ignore the World

Short-term imbalances will always arise in business. When executing a business strategy, one must either ignore the blips or find a way to harness their energy. In that respect, it is refreshing to look at how a company like Toyota has demonstrated strategic vision in the United States. It has decided to focus on a long-term strategy that will likely result in some short-term losses in its “home” currency, but will allow it in 20 years to be the undisputed leader in automobile manufacturing. Too bad our domestic auto manufacturers failed to take such steps to penetrate more international markets when the dollar was overvalued some eight years ago. As a result, America lost global market share, and bad times now are getting worse.