Redefining Global Strategy, with a New Preface: Crossing Borders in a World Where Differences Still Matter

New Tools for Succeeding GloballyWhy do so many global strategies fail--despite companies' powerful brands and otherborder-crossing advantages? Because a one-size-fits-all strategy no longer stands achance.When firms believe in the illusions of a "flat" world and the death of distance, theycharge across borders as if the globe were one seamless marketplace. But cross borderdifferences are larger than we assume. Most economic activity--includingtrade, real and financial investment, tourism and communication--happens locally,not internationally. In this "semi globalized" approach, companies can cross bordersmore profitably by basing their strategies on the geopolitical differences that matter;they must identify the barriers their strategies will have to overcome and they mustbuild bridges to cross those barriers. Based on rigorous research, Pankaj Ghemawatshows how to create successful strategies and provides practical management tools soyou can:Assess the cultural, administrative, geographic and economic differencesbetween regions at the industry level--and decide which ones require attentionTrack the implications of the specific border-crossing actions that will impactyour company's ability to create value the mostGenerate superior performance through strategies that are optimized for thethree A's: adaptation (adjusting to differences), aggregation (overcomingdifferences) and arbitrage (exploiting differences), Using in-depth examples, Ghemawat reveals how companies such as CEMEX, Toyota,Procter and Gamble, Tata Consultancy Services, IBM and GE Healthcare are adroitlymanaging cross-border differences. He also shares examples of other well-knowncompanies that have failed at this challenge. Crucial for any business competingacross borders, Redefining Global Strategy will help you make the most of oursemi globalized world.