The provided video helps understand the importance of knowing the world around us. This is because of the fact that it helps immensely in getting closer to the needful people and even strategizing the marketing plan in an efficient and more feasible way to the targeted resources. The video speak about the personal biases, which is hampering the society around us (Schopenhauer, 2012). The personal bias is also comprises of outdated facts, which is very much evident in the academic library. The schoolteachers and the systems have hardly bothered for bringing any change in the course books (Tyner, 2014). Nevertheless, the world is a rapidly changing place, which emphasize on an updated education pattern. News bias is another point, which just knows to making sensational headings. It is not focussed on factual things; it is rather focused on business values, which is in direct proportion to the sensational headlines. This is nothing but advocating the existing ignorance towards the factual things (McCloskey, 2016). People have become ignorant because they are developed into such forms. The video also speak about the ways, which helps organization develop globally. These ways include but are not limited to such as climate, human resource, finance etc. It also speaks about some misconceptions, which have hugely haunted the brains of modern people. Following are some of the misconceptions (Schopenhauer, 2012):
The video doses also support the humps rule to change the way people think of some misconceptions. The humps rule does say that it is better to understand that more is improving. It also states that the gap between the rich or poor is enhancing; however, it entirely depends on how people think of their development. It further states that socialization is the first thing, which should happen as this gives birth to the elevating economy of the countries. Finally, the rule also says that people should thing that Shark kills only few. These are some of the positive ways of thinking and solving the misconceptions (Tyner, 2014). Nevertheless, this helps become a stronger individual or a stronger nation. Nevertheless, the video is also extremely helpful for the business purpose as it make people understand the importance of considering the rapid changing world. In the year 1975, the Western countries such as the North America and the Europe were enjoying the highest number of consumer growth. However, the graph is changing rapidly. The GDP growth per capita thus indicates that the near future would witness the domination of some other developing countries such as China, Singapore and India (Schopenhauer, 2012).
The content of the video is extremely helpful for analyzing a probable growth of the country in the near future. Some of the developing countries have been forecasted to have largest numbers of GDP growth per capita. These countries include but are not limited to such as China, India and Singapore (Brewer & Porter, 2013). The video helps think positively towards the attainment of goal. Moreover, it also helps understand that the near future would witness the domination of some other developing countries and they would have comparatively largest number of consumers. This is because of such reasons that most of the big multinational companies are heading towards these highly developing countries (Morgan, 2012). Companies such as Walmart and Tesco have headed towards China. McDonalds and KFC have headed towards most of these countries such as India, China, and Singapore etc. The content of the video helps through positive thinking as well as practicality of the modern day business. The facts sheet about the changing picture of economy is alone helpful in understanding the potential market; however, the forecast made in this video thus adds values to the existing facts (Chanlat, Davel & Dupuis, 2013). Marketing managers in different foreign companies can utilize the content of the video for entering into the Indian market. The video content makes a forecast that in the next 20 years, developing countries like India would have highest number of consumers. Nevertheless, different companies prefer potential market and according to the video, the rest of countries would outplay the western countries such as the North America and the Europe. Interestingly, the video also forecast a fact that in the next 20 years, the rest countries would have highest numbers of rich people in it. Moreover, a highly elevated economy standard and the incrementing number of consumers are positioning the developing countries on top slots of favourite business zones (Morgan, 2012).
Brewer, J., & Porter, R. (2013). Consumption and the World of Goods. Routledge.
McCloskey, D. N. (2016). Bourgeois equality: How ideas, not capital or institutions, enriched the world. University of Chicago Press.
Morgan, M. S. (2012). The world in the model: How economists work and think. Cambridge University Press.
Schopenhauer, A. (2012). The world as will and representation (Vol. 1). Courier Corporation.
Tyner, K. (2014). Literacy in a digital world: Teaching and learning in the age of information. Routledge.
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