Redefining Global Strategy: Crossing Borders in a World Where Differences Still Matter
Why do so many global strategies fail-despite companies' powerful brands and other border-crossing advantages? Seduced by market size, the illusion of a borderless, "flat" world, and the allure of similarities, firms launch one-size-fits-all strategies. \ \ But cross-border differences are larger than we often assume, explains Pankaj Ghemawat in Redefining Global Strategy. Most economic activity-including direct investment, tourism, and communication-happens locally, not internationally. \...
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Why do so many global strategies fail-despite companies' powerful brands and other border-crossing advantages? Seduced by market size, the illusion of a borderless, "flat" world, and the allure of similarities, firms launch one-size-fits-all strategies. But cross-border differences are larger than we often assume, explains Pankaj Ghemawat in Redefining Global Strategy. Most economic activity-including direct investment, tourism, and communication-happens locally, not internationally. In this "semiglobalized" world, one-size-fits-all strategies don't stand a chance. Companies must instead reckon with cross-border differences. Ghemawat shows you how-by providing tools for: •Assessing the cultural, administrative, geographic, and economic differences between countries at the industry level and deciding which ones merit attention. •Tracking the implications of particular border-crossing moves for your company's ability to create value. •Creating superior performance with strategies optimized for adaptation (adjusting to differences), aggregation (overcoming differences), and arbitrage (exploiting differences), and for compound objectives. In-depth examples reveal how companies such as Cemex, Toyota, Procter & Gamble, Tata Consultancy Services, IBM, and GE Healthcare have adroitly managed cross-border differences-as well as how other well-known companies have failed at this challenge. Crucial for any business competing across borders, this book will transform the way you approach global strategy. The Financial Times . . . a reasoned guide.
Foreword ixAcknowledgments xiIntroduction 1Value in a World of DifferencesSemiglobalization and Strategy 9Differences Across Countries: The Cage Distance Framework 33Global Value Creation: The Adding Value Scorecard 65Strategies for Global Value CreationAdaptation: Adjusting to Differences 107Aggregation: Overcoming Differences 139Arbitrage: Exploiting Differences 169Playing the Differences: The AAA Triangle 197Toward a Better Future: Getting Started 219Notes 231Selected Resources 247Index 249About the Author 259
\ The Financial Times. . . a reasoned guide.\ \ \ \ \ The EconomistThis book deserves to be a bestseller\ \ \ The New York TimesA nicely revised picture of globalization as regionalization.\ \ \ \ \ Reuters News...Ghemawat warns...that businesses suffer when they follow such globalization logic too far. The real state of the world is neither globalized nor local...It is semiglobalized, and will remain so for decades to come.\ \
