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Redefining Global Strategy: Crossing Borders in A World Where Differences Still Matter Hardcover – 27 Aug 2007
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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. See all Product description
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The author tops this off by providing a couple of frameworks managers can use in assessing their international expansion plans, all of which are useful, if simple (actually their simplicity is an asset in itself - making them easily communicable and understood). From the CAGE (culture, administration, geography, economy) model, the AAA, and the ADDING framework, all of them can be useful in various contexts of assessing your expansion need and priorities.
You do need to be aware, though, that this book is only a start, an eye opener, if you wish and that all the frameworks, which are certainly useful are but a first step in a more in depth examination of your company's overseas strategy. Making this first step is what the book is about but do not expect it to serve you well for the duration of the whole journey.
If you are used to academic literature, some of the style may grate a bit, as there is plenty of repetition and the examples are more often there for effect and an appealing storyline, rather than being the most insightful ones. The use of acronims is often also a bit over the top but I suppose it is all designed to appeal to the target audience, which is managers and not academics (how successfully it does that will probably very much depend on individual tastes).
Overall, the book is a very useful reality check on today's frequent appetite for international expansion but may leave you wanting a bit more in the end. Irrespective of that, I would still generally recommend reading it - if it prevents a foolish and uncalculated rush abroad, or at least instills a basic awareness that national / cultural differences still matter in business today, it will be well worth its purchase price.
The whole content of the book is so well bind together and is so coherent that you have to just follow the steps and make a map of your plan with recommended below tools:
1. AAA Triangle ( Adaptation, Aggregation, and Arbitrage ): These describe what right mode of your expansion is; depend on type of your business and nature of competitors and market conditions.
2. CAGE ( Culture, Administration or politics, Geography, Economics) tool to analyze either the nature of countries you would like to enter or nature of industries in the country that you would like to enter.
3. Finally make a map of your plan for decision making by ranking your choices through using "ADDING ( Add volume or growth, Decrease costs, Differentiation, improving industry attractiveness, Normalizing risk and Generate knowledge) value score. This tool will clarify you and your organization what is/are the drivers for your company to expand.
Having been involved in B2B international business over 17 years, I recommend to use first the "ADDING" tool and then move to "AAA triangle" and then analyze and priorities your choices through using "CAGE" tool.
So many thanks to Prof. Ghemawat who really described and explained the SEMIGLOBALISATION and then also explain how to thrive in this world by first describing the above tools and then explicitly showing the application of these tools in business such as car industry ( Toyota), Cement Industry ( Cemex), Retail industry ( WAl Mart), Health care ( P&G), IT industry (IBM), Software services ( Cognizant), Coca-cola and several others