In Closing
Business in the 21st century
Robert J. Hurst '66, vice chairman of the Goldman Sachs Group, Inc., and former Clark University Trustee, visited Clark this fall to address Clark economic and management majors on campus and Graduate School of Management alumni and friends at an event in Framingham, Mass. Hurst, a 26-year veteran of one of Wall Street¹s most prestigious and influential financial services firms, identified the following five key trends for the business world in the 21st century: -
Industry consolidation, which is moving across national borders at lightning speed;
- Globalization, causing world economies to be linked to each other;
- Growing capital needs, particularly in emerging industries such as telecommunications and the Internet;
- More focus on shareholder value, with companies changing how they operate in response to well-informed investors, who are quick to reward or punish corporate performance; and
- Technology. Up to the early 1800s, Hurst said, the horse was the fastest means of both transportation and communication. Today, communication is instantaneous, resulting in a smaller, much more interdependent world
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Clarknews Winter 2001
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