Redefining Global Strategy With A New Preface

New Tools for Succeeding Globally 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 "semiglobalized" 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 semiglobalized world.

Since the financial crisis of 2008, many of us have had to reexamine our beliefs about markets and globalization. How integrated should economies really be? How much regulation is right? Many people fuse these two dimensions of choice into one, either favoring both globalization and deregulation—or opposing both of them. It doesn’t have to be that way. In World 3.0, award-winning author and economist Pankaj Ghemawat reveals the folly in both of these responses. He calls for a third worldview—one in which both regulation and cross-border integration coexist and complement one another. Ghemawat starts by exposing common assumptions about globalization to hard data, proving that the world is not nearly as globalized as we think. And he explains why the potential gains from further integration are much larger than even pro globalizers tend to believe. He then tackles market failures and fears—job losses, environmental degradation, macroeconomic volatility, and trade and capital imbalances—that opponents of globalization often invoke. Drawing on compelling data, he shows that increased globalization can actually alleviate some of these problems. Finally, Ghemawat describes how a wide range of players—businesses, policy makers, citizens, media—can help open up flows of ideas, people, and goods across borders, but in ways that maximize the benefits and minimize the potential side effects. World 3.0 dispels powerfully entrenched—but incorrect—assumptions about globalization. Provocative and bold, this new book explains how people around the world can secure their collective prosperity through new approaches to cross-border integration. Ghemawat’s thinking will surprise and move you—no matter where you stand on globalization.

What Globalization Now Means for Your Business Executives can no longer base their strategies on the assumption that globalization will continue to advance steadily. But how should they respond to the growing pressures against globalization? And what can businesses do to control their destinies in these times of uncertainty? In The New Global Road Map, Pankaj Ghemawat separates fact from fiction by giving readers a better understanding of the key trends affecting global business. He also explains how globalization levels around the world are changing, and where they are likely to go in the future. Using the most up-to-date data and analysis, Ghemawat dispels today's most dangerous myths and provides a clear view of the most critical issues facing policy makers in the years ahead. Building on this analysis, with examples from a diverse set of companies across industries and geographies, Ghemawat provides actionable frameworks and tools to help executives revise their strategies, restructure their global footprints, realign their organizations, and rethink how they work with local governments and institutions. In our era of rising nationalism and increased skepticism about globalization's benefits, The New Global Road Map delivers the definitive guide on how to compete profitably across borders.

In Cases about Redefining Global Strategy, Pankaj Ghemawat and Jordan Siegel have assembled 26 full-length case studies as a resource for active learning about the nature of cross-border differences and strategies. As technology innovation globalizes markets and firms, management education must adopt a truly modern perspective on globalization--one that illuminates differences across borders rather than emphasizing similarities and imposing local models onto far-flung cultures. A new generation of managers and innovators who must compete in a "flat" world cannot succeed while following a one-size-fits-all approach to global strategy. Pankaj Ghemawat, Professor of Strategy at Spain's IESE Business School and author of World 3.0 and Redefining Global Strategy, and Harvard Business School Professor Jordan Siegel represent a new era of thinking in global strategy. This carefully chosen selection of classics and new material from Harvard Business Publishing also includes an introduction and six introductory module notes that identify key themes and strategic concepts explored in the cases. Though attuned to the format of an MBA course, the cases and text may also be used individually or in programs outside the strategy curriculum.

The world has moved on in the advanced economies where credit based financial systems coupled with malleable accounting systems disconnect capitalization and wealth accumulation from GDP trajectories and financial surplus. This, the book argues, is the product of economic, financial and cultural imperatives that privilege and encourage financial leverage for wealth accumulation. This text re-works business models for a financialized world and presents a distinctive insight into the way in which national, corporate and focal firm business models have adapted and evolved. It also shows how, in the current financial crisis, financial disturbances can be amplified, transmitted and made porous, by accounting systems, threatening economic stability. By making visible the tensions and contradictions embedded in this process of economic development, the authors have constructed a loose business model conceptual framework that is also grounded in accounting. This is a valuable resource for practitioners, academics and policy makers with an interest in management, accounting and economic policy.

Redefining Success: Integrating Sustainability into Management Education advocates incorporating sustainability concepts that go beyond the financial ‘bottom line’ into management education and business practice. Highlighting the UN Global Compact (UNGC), the Principles for Responsible Management Education (PRME) and the Sustainability Development Goals (SDGs), it explores conceptual and practical issues, presents case studies and other empirical evidence, and offers solutions that will both encourage and assist management educators in the incorporation of sustainability into their courses and research. incorporating sustainability into their courses and research. Written by 34 individuals from 17 countries, the book addresses these topics from a variety of theoretical, disciplinary, geographic and organizational perspectives. The authors demonstrate how management educators, collaborating with business and civic organizations, can be change agents for a better world. Written for educators, scholars and business practitioners, the volume concludes with lessons learned, challenges encountered, and implications for responsible management education.

Bringing together the experience, perspective and expertise of Paul Farmer, Jim Yong Kim, and Arthur Kleinman, Reimagining Global Health provides an original, compelling introduction to the field of global health. Drawn from a Harvard course developed by their student Matthew Basilico, this work provides an accessible and engaging framework for the study of global health. Insisting on an approach that is historically deep and geographically broad, the authors underline the importance of a transdisciplinary approach, and offer a highly readable distillation of several historical and ethnographic perspectives of contemporary global health problems. The case studies presented throughout Reimagining Global Health bring together ethnographic, theoretical, and historical perspectives into a wholly new and exciting investigation of global health. The interdisciplinary approach outlined in this text should prove useful not only in schools of public health, nursing, and medicine, but also in undergraduate and graduate classes in anthropology, sociology, political economy, and history, among others.