Are you thinking about expanding abroad and wondering how you can get data for an effective global strategy?
A reader, Perry Mayer of the Pub & Bar Network pointed out an interesting resource to me – The Legatum Prosperity Index.
This ranks the countries of the world across various indices like economy, governance, education and five more and presents the comparative information in graphical form as well as a drill down by country.
A high (green) rating suggests that there will be lowered risks while red indicates a low score and consequentially high risks.
This is a great starting point for brainstorming how these factors can manifest themselves as threats and opportunities in your global strategy and then of course, thinking about how you can reduce the probability or impact of any adverse issues.
It’s not a substitute for doing a full PESTLE analysis but it’s an interesting place to start and may get rid of the feeling of “same old, same old” if you hold strategic analysis meetings every year.
