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Presented at the 18th Annual Conference of the Global Awareness Society International - May 2009

significant multiplier to infrastructure investments in the bottom of pyramid markets in various countries.

Both modernization and internationalization efforts with simultaneous increases in political stability,

industries development, information systems, and institutions can increase national economic

development. As some of the evidence and trade statistics show, the total value of world trade has grown

substantially during the decades of the 1980s and 1990s. In the global era, trade matters since it sustains

both economic and human capacity developments. There are many countries that have not benefited

from the economic integration called for in globalization. These countries should evaluate their problems

and challenges in attracting foreign direct investments.

There are a number of countries--small and large—doing well under modernization and

internationalization and now is the time for Central Asia to learn from their experiences. If there are some

lessons to be learned from the industrialized advanced nations of today, these would be of political

stability, institutional (education, health, legal, transportation) infrastructures, diverse industries, and

information systems development and innovation.

How Proper Management can Sustain Economic Development and Global Engagement in Central Asian countries

Management is about meeting goals consistent with the mission set up by the organization. This applies to both profit and non-profit governmental and private organizations. When managing such diverse resources as capital, labor, technology, knowledge, land, information, and various stake holders, it is imperative that leadership understand focus, direction, measurement, and control in achieving the goals and specific objectives. To get the full benefits of proper management, the leadership MUST make decisions that are both effective and efficient; effective means making the right choices and decisions; efficiency means, executing the right choices and decisions.

Recommendations for mitigating globalization challenges in Central Asia

  • 1.

    Develop clear mission for each of the public enterprises (PEs).

  • 2.

    Identify responsibility and accountability structures.

  • 3.

    Identify leadership skills that are needed for the success of each PEs

  • 4.

    The reporting structure with each ministry and stakeholders are to be clearly defined.

  • 5.

    Where a management has clearly failed in an enterprise, a committee of experts should be formed to assess the root cause of failure and non-performance. If needed, one or two foreign experts are included in the deliberations.

  • 6.

    It is essential to revisit the mission, and it may be necessary to completely

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