Second , focused activities of whatever scale are easier to assess and rank against each other than are conglomerate structures. Capital markets carry out this assessment from one angle, but suppliers and customers add a new dimension within a value chain. New forces such as electronic commerce allow mass purchasing in formerly niche markets. In general, information is more symmetrically available and decisions are taken which punish under-performance. Despite what has been said above, there is still limited globalisation of commerce.
Trade grows rapidly, but is still a minority part of the economy for most countries.
Nevertheless, the expectation of best practice is thoroughly global. Customers will never knowingly choose second best, and their agents retail purchasers and pension funds, for example strive to supply the best. Third , there are many more minds at work, and the level of management education is much higher. Gaps are spotted and new ideas replace less effective systems. The acceleration of competition has driven managers to seek further simplification of what they do and what the have to sell to capital markets.