Arbitration : Another way to think smart about your business
Ever thought of this valuable tool that is sometimes used in the financial markets? Yes, it doesn’t have to start and stop with money alone. It could be done with ideas too. It could be done with people even.
Think about it this way – I am looking to hire someone. Indians are turning out to be more expensive than expected. Meanwhile, France is badly hit. Strikes, riots, unrest, chaos and rampant unemployment are tearing it into the oblivion. What’s the point?
Well, you could hire the French, can’t you? I don’t really know how they might be better than your Indian replacements but just in case you wanted to start a french restaurant, a french class, a french perfumery, or even a french bakery, they could help.
Now try that with the US, the UK or any other country in the world. Another word on this and you would know that International Trade actually hinges on this idea alone.
Just a thought. Sometimes, things, money, people or goods might be available for cheap elsewhere. Perhaps one needs to identify and utilize these resources while one can.
Could arbitration really work? Would it lead to a plethora of new ideas?
