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Innovations in Latin American Markets and Institutions under globalization from 2012 to present day
Case analysis
Problem
Latin America is one of the world’s most important and idealized developing lands. The region is rich with the opportunities and the government is applying highly innovative solutions to handle the global impact on the country since 2012 to the present day. Besides a lots of innovations, opportunities, diversity, and success there are some problems which are important to be considered. The main problem of the Latin communities and the Latin American market as well as institutes is the uncertain living standards of the community which involves Environmental changes, persistent inequality, and increasing violence force.
All of them are collectively responsible for the increase of uncertainty of the living standards due to which the satisfaction rates are lowered to huge numbers. Another most important problem is the environmental changes which are observed to be massive and significantly changing (Pérez, Paloma and Andrea). The market is also at the serious risks due to which the local investors are preferring to invest in the international businesses as well as the international investors are not preferring the Latin continent for the enhancement of the business. According to the research, the basic systems of the society that includes the nutrition, finance, and energy are also observed to be terribly malfunctioning due to which the uncertainty of lifestyle is also increased.
Rationale for diagnosis
It is observed that interestingly most of the systems are dependent on the functioning institutes. According to the past studies, the globalized system of economics and social connectivity depends upon the rules and the organizations are the only responsible entities who can enforce them. According to one of the most important and highly considering fact, the instability in the region is playing an important role in causing lack of progress in the system. The growth of the tourism is also limited and the sustaining of the industry is very difficult (Booth). According to one of the most important businesses in the world, Walmart had many stores in the Mexico and neighboring regions but due to the problems mentioned, the stores are generating the lowest possible business. By considering the environmental changes, the Latin American continent is in a serious problem. The investment is very rarely observed and due to this fact the innovation and the development is limited or non-existent.
The style of life is observed to be built in the region but due to the lack of resources and several other factors, it is adapted by very less number of people (Pérez, Paloma and Andrea). The health is a major concern and due to the factors of population, pollution, lack of access to potable water and developed sanitation and sewage, and certain other issues are reducing the successful growth and sustaining living in the region.
Solutions
There are several solutions which are important for the maintaining innovation and diversified opportunities in the country. These solutions are important for the stability of the stability of the system in both social as well as economic constraints. One of the most important solution for the maintaining of the growth and the handling of funds on the government and organizational levels is the consideration of the average annual growth rate to the five year period. This will help in the reducing the problems of problems of endogeneity that are associated with the short term cyclic affects.
Another significant solution is to reduce the weak points of the industry and enhance the dominant industry through which the overall success rate for the business, economy, and organizational growth would be increased. The common problems which are important and are observed to play an important role in causing hurdles in implementation to the solutions should be handled initially and later on the other things (Booth). For example the living standards should must be improved and the community should be given a good lifestyle. In this way the satisfaction levels would be enhanced among the population and the possibilities in the innovative growth would be possible.
Courses of actions
The government pays an important role in the satisfaction of the population, reduction of the social and economic problems as well as several other issues. The problems can be solved with handling and implementing some of the most important solutions (Steger). The most important solutions for the problems are discussed above which involve the use of the five year growth plan, and the improvement in the living standards rather than focusing on the uplifted industry and business.
The course of action involves the handling of the authorities who are considered to be responsible for initiation. The average annual growth rate would be replaced by the five year plan. The population would be served in a number of ways starting with water and sanitation issues, pollution reduction. Cleanliness programs, management of the inflation, and education about the goals so that the population would understand and corporate accordingly.
Among a number of course of actions, the best and the most important course is the handling of the things from the government levels. It is observed that most of the past projects were handled and completed by the government in less time than comparatively the globally operating different organizations (Pérez, Paloma and Andrea). The tourism industry is required to be improved so that the regions should must glitter among the tourism planners around the globe. An important concept of the cleaning of the region and reduction of the pollution is an important concern as well.
Works Cited
Steger, Manfred B. Globalization: A very short introduction. Vol. 86. Oxford University Press, 2017.
Booth, John A. Understanding Central America: Global forces, rebellion, and change. Routledge, 2018.
Pérez, Paloma Fernández, and Andrea Lluch, eds. Evolution of family business: Continuity and change in Latin America and Spain. Edward Elgar Publishing, 2016.
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