Redefining Global Strategy, With a New Introduction ― 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, with a New Introduction. Most economic activity--including direct investment, tourism, and communication--happens locally, not internationally. In this "semi-globalized" 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; and 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.

Pankaj Ghemawat is Global Professor of Management and Strategy and Director of the Center for the Globalization of Education and Management at the Stern School of Business at New York University and the Anselmo Rubiralta Professor of Global Strategy at IESE Business School. He is the author of a number of influential books including The New Global Road Map, World 3.0, and The Laws of Globalization. Ghemawat has received the McKinsey Award for the best article published in Harvard Business Review and has written more than 100 research articles and case studies. A fellow of the Academy of International Business and of the Strategic Management Society, Ghemawat works with companies around the world to better understand and address international opportunities and challenges.

Author social media/website info: ghemawat.com, twitter.com/search?q=Pankaj%20Ghemawat&src=tyah