Abstract:
Globalisation can help to reconcile the right, basic and constitutional, of both the developed and the underdeveloped countries, for its philosophy is found on a value-system that promotes learning not merely of academia. All the players are initiated into a humanist world-view. A progressive society is nurtured not only by the emergent independent thinking people; there is also need for right thinking people. One who knows the values of interdependence, co-operation, sincerity and justice in the context of self-development. In the current phase of industrial life small and medium enterprises (SMEs) play an important role in the recovery, restructuring and improvement of an economy. SMEs in symbiosis with large firms are usually regarded as activities with high investment potential. Would it not be apt to suggest that ancillarisation is the answer for an integrated national as well as regional policy. Moreover, this hypothesis when extended might indeed determine the new economic order; smaller nation; larger nation nexus. Major corporation in the United States and Western Europe have been experimenting with "strategic alliances" in the high-tech field. It involves acquiring part ownership of a foreign company by buying a small percentage of a MLT (Mezzanine floor levels of technology) or HT foreign company. There is sharing of the equity ownership, management research and development, technology, manufacturing, marketing and indeed, the markets themselves. The critical needs of additional working capital and inexpensive manufacturing facilities have demonstrated the potential for establishing strategic alliances between SMEs at the MLT level in the USA and Asia. Transactional Corporations only indicate that alliances are crucial and will possibly determine tomorrow's economic order.
