Global presence does not automatically ensure competitive advantage. Otherwise, worldwide African presence would have easily yielded the culture-based wealth that provides the necessary financial capital and the political economic edge enjoyed by other cultures worldwide. Some cultures have taken advantage of their perceived competitive edge, and used it effectively to establish progressive markets virtually everywhere possible.
Up till today, we have witnessed multinational corporations integrated into many countries across continents. Their presence in other countries will continue to change people's thinking and consumption habits. Multinational corporations usually have specific origins. They must always remain loyal; along with their products and finances, their underlying ideas and cultures must circulate freely to ensure the established economic relations' sustainability. Since culture is a way of life, all specialized products and services reflect particular cultural identities. Each global product contributes to the wealth of a particular culture or nation.
An excellent example of a multinational corporation with an inconspicuous global presence can be found in the Automobile where GM and Ford are known to American, Hyundai is Korea, Tata is Indian, VW, BMW, Mercedes are German, Volvo is Swedish, Mitsubishi, Toyota is Japanese, Fiat is Italian, Lada is Russian, Citroen is French. Range Rover and Rolls Royce are British. Similar cultural identity can be found in technology, be it in computers, audio systems, refrigeration, televisions, etc. Good examples of specialized banking can be found in Banking and Finance, namely the IMF, World Bank, ADB, The Caribbean Development Bank, etc. One other area worth mentioning is the media entertainment sector, where cultural institutions such as Hollywood, Bollywood, Nollywood, Ghallywood, Riverwood, etc. If deliberate from the onset and adequately organized, this type of attunement can help tap into its natural and instinctive resources to contribute to the collective conveyance of African values and eventually lead to the creation of necessary financial wealth, which constitute what can be described as an economic power.
Turning global presence into a global competitive advantage requires a culture to consciously match its value creation potential with the opportunities generated by its predisposed global relationship and presence. This means that if globalization is indeed a relationship economy, there is no reason not to think of the possibility of a new global African economic relationship initiative driven by culture and technology because the culture is what we already have in abundance. Technology makes it possible to organize information, create efficient communication, production, distribution, risk assessment, and monetization virtually on a global basis. Africa and the Caribbean are linked together by their origins; therefore, the condition of being related provides an excellent opportunity for economic trade relations, which can also serve as the necessary means to reconnect and strengthen the ties between Africa and its Diaspora.
Diasporic, transnational identities and social structure—coupled with the increasing ease of cross-border capital and investment movement—have given rise to a particular case of international ethnic entrepreneurial behavior: This presentation is designed to help identify opportunities and suggests a framework for analysis and actions necessary to create global African competitive advantage.