By Hubert Gatignon, John R. Kimberly, Robert E. Gunther
Because the phenomenon of globalization keeps to spark dynamic and arguable debates, managerial agendas world wide are being formed. companies are pressed to answer the demanding situations of globalizing rivals. they need to increase gains and generate returns for traders and achieve this through coming into international markets, competing opposed to foreign competitors, and discovering possibilities in a regularly remodeling international. businesses are anticipated to accomplish those targets in an environmentally and socially accountable approach. amazing possibilities exist if you happen to can successfully solution the necessity to globalize, but it's a complicated firm with many linked dangers. well known specialists for the INSEAD-Wharton Alliance, Hubert Gatignon and John Kimberly, have collaborated to edit a non-partisan and finished ebook that appears past the wide matters and makes a speciality of the managers' reaction to the possibilities and demanding situations of bigger, international markets. suitable and well timed because the outspoken debates approximately globalization proceed, the members to this quantity talk about an important implications for managers, coverage makers and non-governmental corporations.
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Additional info for The INSEAD-Wharton Alliance on Globalizing: Strategies for Building Successful Global Businesses
Example text
This chapter provides reflections on key insights from throughout the book and identifies some of the future challenges for managers and researchers in addressing the unfolding challenge of globalizing. The importance of globalization Our subject matter is hardly academic. The fates and fortunes of companies hang upon decisions about globalizing, particularly as large portions of the developing world come rapidly online. For example, decisions by the People’s Republic of China about wireless communications standards could shake the largest global telecommunications firms to their foundations given the size of the Chinese market.
Three main internal changes have affected the preferences and relative power of the actors that seek to participate in the governance of the firm. Starting in the United States and the United Kingdom during the 1980s, managers with a finance background have risen to prominence in corporations, bringing with them a desire for autonomy to undertake diversification, acquisitions, and divestures, actions that have redressed the balance of power within the firm. A second change has had to do with the growing importance of the stock market as a source of financing for both established firms and entrepreneurial startups, a concomitant decline of banks as large shareholders, and the rise of new institutional investors.
If we look at data on the capitalization of the stock market as a percentage of gross domestic product (GDP), we see systematic evidence of change in the economic importance of the stock market. 1. This was true in the United States and United Kingdom, where the stock market has always been a central focus, as well as in countries such as France, Italy, Germany, and Sweden, where the stock market had historically been less important. There is, however, considerable heterogeneity across countries in terms of the extent of that change.
