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From early in this century until a short while ago, the economic sea was calm. Organizations sailed through international waters in search of new business opportunities. Rapid growth in places like Brazil, Russia, India, and China generated some waves, but organizations greeted them as exciting challenges rather than dangerous threats. Today, the financial turbulence from the capital markets crisis has set off tidal waves that threaten to capsize all but the hardiest organizational ships. Most companies face dramatically different business challenges than those they encountered during most of the previous decade.
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