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The opportunities for businesses to become global are expanding thanks to rapidly emerging product markets, the worldwide race for talent, and the widening impact of digitization. Success stories such as Airbnb Incorporated and Uber Technologies Incorporated are spurring the imaginations of new entrepreneurs while highlighting the vulnerability of many traditional businesses. In this article, author William R. Kerr, who has researched global ventures for two decades, examines subtle but critical differences in how globalization is leveraged even among organizations that seem on the surface to be quite similar (for example, businesses engaged in outsourcing). Traditional approaches to globalization start with a mindset of taking the company's best products or services to global markets and often use cross-border opportunities to lower costs (what the author describes as "globalizing the best that your company can offer"); the core focus is on how globalization can enhance existing products and profit formulas. However, other organizations, the author notes, build their businesses on top of globalization (what he calls "harnessing the best that the world has to offer"). Such businesses display a sharp external focus, harness the resources and ideas of others, and aspire to achieve a large global footprint quickly. Although the digital economy can enable these ventures, the real differentiator, the author argues, is the managerial approach taken toward the business. In addition to looking at Airbnb and Uber, the article examines the global strategies of several companies, including Upwork Global, Alvogen, Rocket Internet, and Home Essentials (HK) Limited. The article highlights best practices that can support managers in globalizing their businesses, ranging from tailoring the businesses for the local environment to leveraging global network effects. Moreover, it looks at the issue of operational complexity and how considering the trade-offs between the benefits and costs can help managers find the optimal global footprint for their organization. In the author's view, the rapidly evolving nature of globalization means that neither entrepreneurs nor managers can ever fully analyze a global business before they need to act. However, through a simple analysis of globalization plans along these dimensions, entrepreneurs and corporate leaders should be able to develop clearer expectations and decision-making processes.
Global Vision: How Companies Can Overcome the Pitfalls of Globalization addresses the business challenges that globalization poses. It will help managers improve their global acumen by developing a better understanding of the cultural, political, and economic risks they face as they expand globally. For managers of large multinationals, managers of emerging companies with global aspirations, or anyone generally interested in globalization and global management, this book equips the reader with innovative tools to solve the most complex challenges facing global companies. It can help prepare a company not only for global growth, but also for profitable ongoing global operations.
Globalization, an inevitable phenomenon in human history, has been bringing the world closer through exchange of goods and services, advancements in information communication technologies (ICTs), global diffusion of technologies, and cultural awareness. Recent developments and trends within the global business arena present managers with challenging situations. Competing in the twenty-first century and beyond requires firms to invest in the increasingly refined managerial skills needed to perform effectively in a multicultural business environment. Global companies are faced with varied and dynamic environments in which they must accurately assess the political, legal, technological, ethical, and cultural factors that shape their strategies and operations. The success of a company's global operation often depends significantly on the manager's cultural skills, as well as the ability to carry out the company's strategy within the context of the host country's business practices. While globalization is a vehicle for, and a consequence of human progress, it is also a confused process that requires change. The change process presents the manager with challenging strategic options. Globalization of Business: Theories and Strategies for Tomorrow's Managers addresses the above challenges. It offers managers and business students strategies on how to become globally competitive in a complex international management environment. Contributors to the volume offer their insights into the issues every global manager needs to understand such as the nature of the global business environment, entry mode choice, global strategic positioning, global human resource management, human rights and ethical issues. The book covers general as well as specific topics, including assumptions, theories, and practices of globalization. It is expected that the book will enable business students, managers and corporate leaders to avoid common drawbacks in their quest to build a successful global firm that will benefit all. _______________________________________________________________ Dr. Okpara is an associate professor of management at the College of Business at Bloomsburg University, Pennsylvania, USA where he teaches courses at both the graduate and undergraduate levels in strategic management and international business. A widely published scholar, his contributions have appeared in many of the leading management journals and proceedings of major national and international conferences. He is also the editor of International Journal of Social Entrepreneurship (IJSE).
How can countries in the underdeveloped world position themselves to take best advantage of the positive economic benefits of globalization? One avenue to success is the harnessing of foreign direct investment (FDI) in the “nontraditional” forms of the high-technology and service sectors, where an educated workforce is essential and the spillover effects to other sectors are potentially very beneficial. In this book, Roy Nelson compares efforts in three Latin American countries—Brazil, Chile, and Costa Rica—to attract nontraditional FDI and analyzes the reasons for their relative success or failure. As a further comparison, he uses the successes of FDI promotion in Ireland and Singapore to help refine the analysis. His study shows that two factors, in particular, are critical. First is the government’s autonomy from special interest groups, both domestic and foreign, arising from the level of political security enjoyed by government leaders. The second factor is the government’s ability to learn about prospective investors and the inducements that are most important to them—what he calls “transnational learning capacity.” Nelson draws lessons from his analysis for how governments might develop more effective strategies for attracting nontraditional FDI.
For all the attention globalization has received in recent years, little consensus has emerged concerning how best to understand it. For some, it is the happy product of free and rational choices; for others, it is the unfortunate outcome of impersonal forces beyond our control. It is in turn celebrated for the opportunities it affords and criticized for the inequalities in wealth and power it generates. David Singh Grewal’s remarkable and ambitious book draws on several centuries of political and social thought to show how globalization is best understood in terms of a power inherent in social relations, which he calls network power. Using this framework, he demonstrates how our standards of social coordination both gain in value the more they are used and undermine the viability of alternative forms of cooperation. A wide range of examples are discussed, from the spread of English and the gold standard to the success of Microsoft and the operation of the World Trade Organization, to illustrate how global standards arise and falter. The idea of network power supplies a coherent set of terms and concepts—applicable to individuals, businesses, and countries alike—through which we can describe the processes of globalization as both free and forced. The result is a sophisticated and novel account of how globalization, and politics, work.
This book explains not only why the world isn't flat but also the patterns that govern cross-border interactions.
A Future Perfect is the first comprehensive examination of the most important revolution of our time—globalization—and how it will continue to change our lives. Do businesses benefit from going global? Are we creating winner-take-all societies? Will globalization seal the triumph of junk culture? What will happen to individual careers? Gathering evidence worldwide, from the shantytowns of São Paolo to the boardrooms of General Electric, from the troubled Russia-Estonia border to the booming San Fernando Valley sex industry, John Micklethwait and Adrian Wooldridge deliver an illuminating tour of the global economy and a fascinating assessment of its potential impact.
This open access book explores the role of the ILO (International Labour Organization) in building global social governance from multiple and mutually complementary perspectives. It explores the impact of this UN ́s oldest agency, founded in 1919, on the transforming world of work in a global setting, providing insights into the unique history and functions of the ILO as an organization and the evolution of workers’ rights through international labour standards stemming from its regulatory mechanism. The book examines the persistent dilemma of balancing the benefits of globalization with the protection of workers. It critically assesses the challenges that emerge when international labour standards are implemented and enforced in highly diverse regulatory frameworks in international, regional, national and local contexts. The book also identifies feasible ways to achieve more inclusive labour protection, putting into perspective the tension between the economic and the social in the ILO’s second century of operation. It includes reflections on the work of the ILO World Commission on the Social Dimension of Globalisation by Tarja Halonen, who as President of Finland co-chaired the Commission with Benjamin William Mkapa, President of Tanzania. Written by distinguished experts and scholars in the fields of international labour law and international law, the book provides an insightful and in-depth analysis of the role of the ILO as an international organization devoted to decent work and social justice. It also sheds light on tripartism and its particular role in the work of the ILO, examining the challenges that a profoundly changing working life presents in terms of labour protection and social justice, and examining the transnational dimension of labour law. Lastly, the book includes a postscript by Nobel economics laureate Professor Joseph E. Stiglitz.
The global race for talent is on, with countries and businesses competing for the best and brightest. Talented individuals migrate much more frequently than the general population, and the United States has received exceptional inflows of human capital. This foreign talent has transformed U.S. science and engineering, reshaped the economy, and influenced society at large. But America is bogged down in thorny debates on immigration policy, and the world around the United States is rapidly catching up, especially China and India. The future is quite uncertain, and the global talent puzzle deserves close examination. To do this, William R. Kerr uniquely combines insights and lessons from business practice, government policy, and individual decision making. Examining popular ideas that have taken hold and synthesizing rigorous research across fields such as entrepreneurship and innovation, regional advantage, and economic policy, Kerr gives voice to data and ideas that should drive the next wave of policy and business practice. The Gift of Global Talent deftly transports readers from joyous celebrations at the Nobel Prize ceremony to angry airport protests against the Trump administration's travel ban. It explores why talented migration drives the knowledge economy, describes how universities and firms govern skilled admissions, explains the controversies of the H-1B visa used by firms like Google and Apple, and discusses the economic inequalities and superstar firms that global talent flows produce. The United States has been the steward of a global gift, and this book explains the huge leadership decision it now faces and how it can become even more competitive for attracting tomorrow's talent. Please visit www.hbs.edu/managing-the-future-of-work/research/Pages/default.aspx to learn more about the book.
This book analyzes the changing dynamics of competition and the emergence of deglobalization trends and processes. The authors begin by explaining the role of technology on globalization and its impact on competitive strategy. Then, they present a theoretical framework that outlines the connection between globalization and modern society. The book also delves into the shift toward deglobalization and addresses how the onset of the COVID-10 pandemic has accelerated the process. Concluding with a discussion of how the 4th Industrial Revolution has resulted in new paradigms for business, this book will fill a gap through its investigation of an emerging concept for scholars in international business.