Why do so many global strategies fail -- despite companies' powerful brands and other border-crossing advantages? Because a one-size-fits-all strategy no longer stands a chance.
When firms believe in the illusions of a "flat" world and the death of distance, they charge across borders as if the globe were one seamless marketplace. But cross-border differences are larger than we assume. Most economic activity--including trade, real and financial investment, tourism, and communication -- happens locally, not internationally. In this "semi globalized" approach, companies can cross borders more profitably by basing their strategies on the geopolitical differences that matter; they must identify the barriers their strategies will have to overcome, and they must build bridges to cross those barriers.
Based on rigorous research, Pankaj Ghemawat shows how to create successful strategies and provides practical management tools so you can:
• Assess the cultural, administrative, geographic, and economic differences between regions at the industry level -- and decide which ones require attention • Track the implications of the specific border-crossing actions that will impact your company's ability to create value the most • Generate superior performance through strategies that are optimized for the three A's: adaptation (adjusting to differences), aggregation (overcoming differences), and arbitrage (exploiting differences)
Using in-depth examples, Ghemawat reveals how companies such as Cemex, Toyota, Procter & Gamble, Tata Consultancy Services, IBM, and GE Healthcare are adroitly managing cross-border differences. He also shares examples of other well-known companies that have failed at this challenge. Crucial for any business competing across borders, Redefining Global Strategy will help you make the most of our semi globalized world.
"Pankaj Ghemawat is one of those rare individuals who combines world-class scholarship with a deep knowledge of business practice. Redefining Global Strategy tackles the crucial balance between local and global that will often define success in an increasingly globalized world economy."
Michael Porter, Bishop William Lawrence University Professor, Harvard Business School
"Pankaj Ghemawat has created an important strategic guidebook for leaders of the globally integrated enterprises of the twenty-first century. His analytical framework is both visionary and pragmatic - aware of the broad historic trajectories of globalization, but grounded in the real kinds of decisions business leaders have to make now. His caveats about 'semiglobalization' provide a salutary remi
Samuel J. Palmisano, former Chairman of the Board and CEO, IBM Corporation
"Pankaj Ghemawat's differentiated industry- and company-specific views on globalization offer essential insights and thought-provoking impulses for today's decision makers. For anyone who aims to realize the full potential of globalization, it clearly confirms: the world isn't flat!"
Prof. Dr. Ulrich Lehner, Chairman of the Supervisory Board, Deutsche Telekom and Thyssenkr
