Global Economy: Case of Caribbean Countries - Essay Example

If a certain business contract works in Latin America it most certainly can function in the Caribbean. This is because, as far as business is concerned, a strategy that works for a leading country can easily be adopted by other countries looking up to countries ahead. The Caribbean will follow suit after starting with Latin America on abiding by the company’s contract.On the other hand, in order to remain competitive in the steel production industry, a firm must acquire consultancy. Acquisition of experienced personnel who are have worked across the globe is mandatory.

In addition, working with a consultancy firm that comprehends the steel industry can assist in linking a developing steel company with other companies in the same industry who are way ahead in terms of technology and profit margin. Another hint is focusing on new inventions in the steel plant process so as to come up with new ideas in the market. Any market prefers a new idea that meets the needs of its consumers. With this, the growth of the steel company is guaranteed.