Harold L. Sirkin (Senior partner of The Boston Consulting Group (BCG) and of worldwide trade and economic development which the authors call “globality. This chapter explains the concept of globality. Globality is not an activity so much as it is an environment, a state of being. It is mainly fueled by. “A revolution in global business is under way.” So starts Hal Sirkin’s new book, Globality: Competing with Everyone from Everywhere for Everything (Business.
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Though Yergin was credited with having coined it, the word is in fact much older. The way to increase the odds of success is to blend those two perspectives together.
And if you look at the rapidly developing economies overall, there are globwlity 3.
We see this in India, where a competitor hires away your talented new people after six months — for a lot more money. Globality is the end-state of globalization — a hypothetical condition in which the process of globalization is complete or nearly so, barriers have fallen, and “a new global reality” is emerging. According to Sirkin et al.
We are seeing it in all sorts of places. However, a bunch of local companies came in and started producing cell phones at a much lower cost.
BCG’s Hal Sirkin on ‘Globality’ and the New Two-way Street of Global Business
So, competing for everything includes competing for the right to globaluty to Wharton. We are all talking about this global slowdown, especially the credit crunch in the U.
They also found a way to produce a high quality product at a much lower cost. You may overlook them as potential competitors, but they are starting to show up in the U. That means a lot of opportunities for consumer products, but also for companies that make things for businesses that sell to those consumers.
Competing with Everyone from Everywhere for Everything, Hal Sirkin Jim Hemerling Arindam Bhattacharya June 11,elaborates on how ‘challenger’ businesses from rapidly developing economies abroad are aggressively and inventively overtaking existing ‘incumbent’ nations.
Then they can build on that advantage by investing in research and development, new product development and distribution.
BCG’s Hal Sirkin on ‘Globality’ and the New Two-way Street of Global Business – [email protected]
The one thing we have found is that the age of globalization golbality actually over. With respect to global business, they argue that the three fundamental characteristics of globalization were these:. Those are huge markets. The world is going to get much more competitive. In this traditional model of globalization, the flow of globbality was predominantly from West to East and followed established Western business practices.
If you look at the population in India, there are about 1. It will balance out because there will be competitive dynamics…. The siroin increased and Nokia started to lose market share. What has changed over the last few years with the rise of China, India, Glpbality, Eastern Europe and Brazil is the emergence of a two-way street. You have to be there, you have to learn, and retreat is not an option.
The companies that win will be those that can bring the best of the West and the best of the East to bear in global markets.
That may encourage even more Western companies to go beyond their own borders to lower costs, and may also create more opportunities for companies from India, China, Russia and Brazil. There is a huge competition for human resources.
Globality – Harold L. Sirkin, James W. Hemerling, Arindam K. Bhattacharya – Google Books
Log In or sign up to comment. They built a position in China in the early days, by selling the traditional way — by offering a higher-cost Western product. Archived from the original on March 23, Now the Western companies have the advantage, so the advantage of the emerging local company is reduced. But his competition is going to be far more fierce than when I applied in Increasingly, companies are integrating their global strategies with global capital markets. This page was last edited on 12 Octoberat As we see that happening, we see the environment changing.
We think that the world is very spiky. They have hundreds of thousands of employees there. Companies that operate in environments with different spikes, such as low-cost labor, are beginning to use those spikes to their advantage.
That means that companies from India, like Tata, or companies from China, like Baosteel, play on the global stage, and globalihy with globaliyt Western companies. What we have seen over the last five years is not just companies from the West coming to India and China, etc.
Companies are refining their business intelligence gathering by capturing smart data and conducting analytics to yield the desired insights. How much does this erode the competitive advantage of emerging challengers from these countries, when multinational companies set up operations there?
We think that over the next 20 years, another billion consumers will move from abject poverty and enter the consumer market. A lot of companies are doing that.
Samir Amin Arjun Appadurai K. Barriers to trade and investment are coming down rapidly.
They now understand how to operate in rapidly globaoity economies such as China. Recognize that a billion people is more than the combined population of the U. Ever-cheaper communications and ever-faster computers, along with the Internet, are facilitating the flow of goods and services, as well as knowledge and information.
What should be their strategy to globalize? Views Read Edit View history.
And again, it will become a significant battle.