When there is a lot of uncertainty in the environment, it is better to just wait and watch. If you think your efforts and money will be lost due to reasons beyond your control, spending your time studying alternative options can be more fruitful.
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Every country or state has limited resources at its disposal. How they are used, depends to a large extent on the government officials. States and industries which develop quickly are states in which government pays attention to needs of the people at large and tries to meet their expectations.
In most progressive countries, the government and government officials think about the long term future of the nation and nurture human and natural resources accordingly. In other countries, the concerned officials are only interested in enriching themselves and their kith and kin. If they see any one earning some money, they will misuse their powers to harass and harm the individual, without any regard to law.
In most countries, the rules favor the investor compared to the small business owner . One of the reasons for this is because investors are some of the largest donors to policy makers and get the rules changed to favour themselves.
Most government organisations have an inbuilt redressal mechanism and policies to prevent abuse of power and for handling of complaints. Most people are short of time and want to get their work done quickly. So they are willing to pay the extra money and do not fight for their rights. Handling complaints can also be time consuming for the government official concerned and may adversely affect his career if her or she has broken rules to favor a particular company.
In a country, some states develop faster than others. While natural resources could matter, the attitude of the government towards business is also a major factor. If government officials indulge in crony capitalism, in the short term , the individuals involved could become rich and famous, but in the long term the development of the state is affected.
The United States is considered to be the world leader in technology, because it is able to attract the best talent from around the world and also formulate rules which are conducive to the development of technology.
In most prosperous countries, government officials go out of their way to promote the development of indigenous technology. They know that by developing a proprietory technology, the nation benefits in the long term as it is source of revenue. For example, the largest refineries in India, license technology from other companies for manufacturing petroproducts.
Big corporations take all possible measures to destroy potential competitors by spreading false rumours. If the decision makers in a country are short sighted and do not verify the facts before believing in these false rumours spread by the foreign companies, they end up destroying their own local businesses and nation as desired by the foreign companies.
Some countries like Korea, Taiwan and Japan do not have too many natural resources but many of the largest brands in the world have their origins in these countries. This is because the government in particular and society in general values hard work and innovation.
On the other hand, many of the African countries are very rich in natural resources, but the widespread corruption and lack of long term vision by the leadership has resulted in high levels of poverty.
In some countries, the government encourages the use of technology for business and entrepreneurs who earn foreign exchange by developing and selling products are given incentives. Government officials make an effort to understand the technology. This is one of the main reasons behind the spectacular growth and economy of certain countries and the lack of progress in others.
Most countries have rules in place to prevent monopolies from completing dominating a particular sector.
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