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.

Praise for Redefining Global Strategy:

Samuel J. Palmisano, former Chairman of the Board and CEO, IBM Corporation--
"Pankaj Ghemawat has created an important strategic guidebook for leaders of the globally integrated enterprises of the twenty-first century. His analytical framework is both visionary and pragmatic—aware of the broad historic trajectories of globalization, but grounded in the real kinds of decisions business leaders have to make now. His caveats about 'semiglobalization' provide a salutary reminder that massive change of this kind doesn't happen overnight. By basing his analysis on real-world case studies and a mastery of economic data, Ghemawat helps CEOs and leaders make smart decisions on one of the most important challenges we all face."

Michael Porter, Bishop William Lawrence University Professor, Harvard Business School--
"Pankaj Ghemawat is one of those rare individuals who combines world-class scholarship with a deep knowledge of business practice. Redefining Global Strategy tackles the crucial balance between local and global that will often define success in an increasingly globalized world economy."

Prof. Dr. Ulrich Lehner, Chairman of the Supervisory Board, Deutsche Telekom and Thyssenkrupp AG--
"Pankaj Ghemawat's differentiated industry- and company-specific views on globalization offer essential insights and thought-provoking impulses for today's decision makers. For anyone who aims to realize the full potential of globalization, it clearly confirms: the world isn't flat!"

Jose Ignacio Goirigolzarri, President, Bankia--
"International firms have to reflect more deeply on how to coordinate their commitments around the world. Pankaj Ghemawat's pioneering book offers an innovative approach for how to deal with this critical challenge."

Ratan Tata, former Chairman, Tata Group--
"Pankaj Ghemawat's Redefining Global Strategy has very appropriately identified the world we live in as only 'semiglobalized.' He builds on this definition to present some very valuable and innovative frameworks for developing strategies for internationalization and global value creation. The book offers a comprehensive treatment of one of the most important issues engaging the business community."

Pankaj Ghemawat--globalization and business strategist, professor, and speaker--works with organizations and policy makers around the world to help them anticipate and prepare for economic shifts. He 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 numerous influential books, including The New Global Road Map, World 3.0, and The Laws of Globalization.

The world isn't so flat after all--distance still matters. Businesses that want to grow international markets profitably need to take differences seriously--here's how.

• Debunks the myths that minimizing or overcoming differences are the only options for business, that bigger is always better in the global economy, and that the world's markets are becoming more borderless.
• Introduces the "AAA" framework, which gives companies a powerful compass to use when charting their own global path to growth.
• Reviews the author's popular CAGE framework, which measures not only geographic distance, but also cultural, administrative/political, and economic distance, and shows how to apply it to countries, industries, firms, and products.
• Offers prescriptive advice for estimating your industry's sensitivity to distance; and for choosing and combining from a menu of the Three A's to compete more successfully and profitably.
• Brings all the ideas from author's previous HBR articles into one coherent framework and package and extends them further by showing how to select and coordinate different regional and global strategies.

Audience:

• Senior executives who formulate global strategy
• Leaders, managers, and employees in multinational companies
• Consultants
• Ghemawat fans and followers

Announced first printing: 15,000
Laydown goal: 3,000