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BT's CEO Says Globalization is 'More Opportunity than Threat' in Speech to Detroit Economic Club

Urges audience of business leaders to embrace disruptive change

    DEARBORN, Mich., Jan. 22 /PRNewswire/ -- Speaking at the Detroit
Economic Club here today, BT Group Chief Executive Officer Ben Verwaayen
countered the commonly held view that globalization is a dire threat to
established companies and industrialized nations. He encouraged the
audience of business leaders to embrace the disruptive change that's
sweeping away established economic models.
    "Are we at a point of crisis? Perhaps. And a crisis is too great a gift
to waste," Verwaayen remarked.
    "Modern technology has extended opportunities to millions of people who
have been excluded from the process of wealth creation. And for the first
time ever, technology enables companies to recruit the brightest and the
best from a truly global workforce," Verwaayen said.
    With the proliferation of global networks and reliable broadband
access, businesses are more able than ever before in history to operate
globally. And with this capability comes opportunities for greater
productivity.
    "The modern business leader is now able to locate any part of his or
her operation in whichever part of the globe offers the greatest advantage.
This has hugely increased the world's capacity to grow and to innovate,"
Verwaayen said. "Business processes can be split among locations, while
staying whole in their operation. This is a profound change which is
completely upending traditional models," he added. And to support business
processes that are distributed globally, businesses can tap into a truly
global talent pool. Linked together through broadband networks, employees
can collaborate across time and distance, creating greater economic
efficiencies than were previously possible.
    True economic globalization means the marketplace will grow. "The pie
will get larger -- but that doesn't mean we can automatically count on our
share of it," Verwaayen warned. "What we cannot do is be patient. I am not
aware of an economic translation of patience. The urgency is now."
    Verwaayen described a new economic model, a triangle formed by
knowledge, entrepreneurial skills and competitive business models, held
together by broadband networks. "Only if all those elements are present in
a local economy does the model work," he said. Verwaayen pointed to rapidly
growing economies such as those of India and China as examples of this new
model at work.
    Based on BT's global experience, Verwaayen stressed the need for global
enterprises to localize their approach to markets. "What works in Detroit
may not work in Dubai; each market requires a customized approach. While
this is the case in all markets, it is particularly true in emerging
markets," Verwaayen said.
    For developed nations with mature economies to remain competitive in
the future, it is essential that they continue investing in education and
stimulate entrepreneurial behavior and competitive business models through
enlightened public policy, Verwaayen said.
    Ben Verwaayen has been CEO of BT Group since February 2002. During his
tenure as CEO, the company has established its position as one of the few
truly global communications solutions and services providers. BT now
employs 100,000 people -- 30,000 in BT's Global Services business, covering
53 countries worldwide. BT has operated in the U.S. since 1988, and has
grown rapidly in size and reach in North America. Today BT operates an
advanced network that reaches all major cities in the U.S. and Canada. And
last year, BT revenues in the U.S. rose more than 50 percent.
    About BT
    BT is one of the world's leading providers of communications solutions
and services operating in 170 countries. Its principal activities include
networked IT services, local, national and international telecommunications
services, and higher-value broadband and internet products and services. BT
consists principally of four lines of business: BT Global Services,
Openreach, BT Retail and BT Wholesale.
    In the year ended 31 March 2006, BT Group plc's revenue was 19,514
million pounds Sterling with profit before taxation of 2,040 million
pounds.
    British Telecommunications plc (BT) is a wholly-owned subsidiary of BT
Group and encompasses virtually all businesses and assets of the BT Group.
BT Group plc is listed on stock exchanges in London and New York.
    For more information, visit http://www.bt.com/aboutbt

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