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The Global Enterprise. Thomas F. Siems, Ph.D. Sr. Economist and Policy Advisor Federal Reserve Bank of Dallas and Sr. Lecturer, School of Engineering Southern Methodist University ISACA North Texas Meeting Dallas, Texas June 14, 2007. Important Questions (Learning Objectives).

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The global enterprise

The Global Enterprise

Thomas F. Siems, Ph.D.

Sr. Economist and Policy Advisor

Federal Reserve Bank of Dallas

and

Sr. Lecturer, School of Engineering

Southern Methodist University

ISACA North Texas Meeting

Dallas, Texas

June 14, 2007


Important questions learning objectives
Important Questions(Learning Objectives)

  • What drives economic growth?

  • How does globalization impact global enterprises?

  • What’s IT’s role?

  • What’s needed to succeed in the global economy?



What is globalization1

What is Globalization?

The increased integration of the world’s economies through increased flows of goods, capital, labor and ideas.


Quick case study the united states of america last decade
Quick Case Study: The United States of America(last decade)

  • Increased Economic Stability/Resiliency

  • Strong Productivity Growth

  • Low Inflation Environment


U s business cycle expansions and contractions
U.S. Business CycleExpansions and Contractions


What s driving growth
What’s Driving Growth?

  • Practices?

  • Policies?

  • Pennies?

  • Providence?

  • Proficiencies?


Good practices
Good Practices???

  • new technologies

  • better management

  • focus on better, faster, cheaper


Importance of technology solow 1970 and colecchia schryer 2002
Importance of technology Solow (1970) and Colecchia & Schryer (2002)


Who supplied my cheese supply chain management in the global economy

Who Supplied My Cheese?Supply Chain Management in the Global Economy

Thomas F. Siems

Federal Reserve Bank of Dallas

2005 NABE Annual Meeting

“Change and Competitiveness: Who Moved My Paradigm?”

Chicago, Illinois

September 26, 2005


Who supplied my cheese supply chain management in the global economy1

Who Supplied My Cheese?Supply Chain Management in the Global Economy

You Are Here!

Thomas F. Siems

Federal Reserve Bank of Dallas

2005 NABE Annual Meeting

“Change and Competitiveness: Who Moved My Paradigm?”

Chicago, Illinois

September 26, 2005


Good policies
Good Policies???

  • good institutional structures that protect people/property

  • better monetary policies

  • freer trade

  • less regulation/rigidity


Importance of policies roll talbot 2001
Importance of policies Roll & Talbot (2001)


Importance of markets adam smith 1776
Importance of markets Adam Smith (1776)


Importance of free trade david ricardo 1817
Importance of free trade David Ricardo (1817)


Strengthening globalization s invisible hand what matters most

Strengthening Globalization’s Invisible Hand: What Matters Most?

Adam S. Ratner

West Monroe Partners

Thomas F. Siems

Federal Reserve Bank of Dallas

NABE’s 48th Annual Meeting

September 10-12, 2006

Boston, MA


Our model
Our Model Most?

Economy

People

Economic Growth

Investment Climate

Ideas

Rule of Law & Protection of Ideas, People and Things

Things


Good pennies
Good Pennies??? Most?

  • importance of well-developed financial markets

  • freedom and opportunity

  • reward entrepreneurial spirit


Importance of investment rousseau sylla 2001
Importance of investment Most?Rousseau & Sylla (2001)


Good providence
Good Providence??? Most?

  • not likely: 9/11 attacks, 2001 recession, wars, natural disasters, corporate malfeasance, stock market bubble, IT investment bust, rising energy costs, etc.

  • BUT...highlights the importance of knowledge/skills


Good proficiencies
Good Proficiencies??? Most?

  • importance of an educated and skilled workforce

  • technologies that increase productivity and output

  • ideas matter


Importance of ideas paul romer 1990
Importance of ideas Most?Paul Romer (1990)


Importance of education black lynch 2001
Importance of education Most?Black & Lynch (2001)



To strengthen globalization s invisible hand
To Strengthen Globalization’s Invisible Hand: Most?

  • Enforce legal protections under the rule of law

  • Create an investment climate that rewards the entrepreneurial spirit

  • Continually develop an educated and skilled workforce

  • Promote new technologies that increase productivity and output