Opportunities Abound for Exporters But Not Without Challenges

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As Pankaj Ghemawat, a professor of global strategy at Spain's IESE Business School and author of the new book, World 3.0 (Harvard Business Review Press) says:

By recognizing that borders still matter, says Ghemawat, companies can better calibrate which markets and trading partners offer the best chance for truly global gains.

Inc. Magazine contributor Ryan Underwood spoke with Ghemawat about how businesses should approach a global strategy. Their discussion addresses four questions:

1. What makes you think that popular views about globalization are incorrect?
2. What does that mean for American small businesses?
3. But hasn't technology moved us any closer to a borderless world?
4. What advice do you have for companies that are thinking about global expansion?

Read the interview here.

Related posts:

There are Great Opportunities to Conduct Business Abroad

Redefining Global Strategy

How Global Is Your Business?

Posted by:  The Global Small Business Blog

Embrace Rootedness and Then Branch Beyond

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Professor Pankaj Ghemawat concentrates on strategic management at ESE Business School in Barcelona.  He says the skills leaders need has been confused by misconceptions about globalization, and the fact that too many of the experts pronouncing on the topics are simply adapting their traditional leadership ideas to global leadership.

This persistent rootedness of companies and their employees should be embraced rather than fought. Nurture your own roots and branch beyond them to connect with counterparts elsewhere who are also deeply rooted in their culture.

This is worthy of exploring further.  Go here to read the entire article.

Related posts. And one other refresher on "leadership" here.

Oh Who Says There is a Retreat of Globalization?

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As Pankaj Ghemawat says for the Harvard Business Review:

One week after Donald Trump’s inauguration, with fears of a trade war spiking, the Economist published a cover story, “The Retreat of the Global Company,” in which it proclaimed that “the biggest business idea of the past three decades is in deep trouble” and that “the advantages of scale and…arbitrage have worn away.” And Jeffrey Immelt, GE’s chairman and CEO, has talked about the company’s “bold pivot” from globalization to localization.

Oh please.  Globalization will never go away -- it's here to stay.  And look at the state GE is in after Immelt decided to do his bold pivot.  Get with the program -- choose globalization as your strategy or else risk thwarting the true upside potential of your business.

Case in point:  Many years ago, when I worked at a small manufacturing company, had we not taken our company global, we would have stayed at $600,000 in annual revenues year after year.  Instead, we took the chance and went after the world for business, ended up conducting business in 27 different countries, with 33 percent of our business generated internationally.  We reached $6 million in annual revenues within 3 years.  This was all done with a four-person staff, myself included.

You can listen to others and stay local or you can go after what is rightfully yours, easy to have and offers fantastic benefits.  The world is your market.  The only thing stopping you is you.

Read more:  Globalization in the Age of Trump

Redefining Global Strategy

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Award-winning author, Pankaj Ghemawat, writes a book about businesses competing globally and how companies must reckon with cross-border differences. It's due out September 27th. Read up about it here.

Connecting Globally

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Is global connectedness good for our world?  In "Strategies for Global Connectedness," Messrs Pankaj Ghemawat and Steven A. Altman say:

The real world is roughly only 10 to 25 percent globalized. Most activities that could take place either across or within national borders are still domestic. Moreover, the trend is toward further localization. The same policymakers and business leaders who once sought universal openness are focusing their investment, attention, and effort within their own home countries. 

According to World Internet Users Statistics Usage and World Population Stats, 34.3 percent of the world's population uses the Internet.

What comprises of the real world?

Read the entire article here.

Globalization and Globaloney

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Pankaj Ghemawat is the author of Global 3.0: Global Prosperity and How to Achieve It, and he takes the stage to ask an important question: Just how global are we really?

Watch and listen here.

Related posts, five (5) over six years.

There are Great Opportunities to Conduct Business Abroad

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By recognizing that borders still matter, says Pankaj Ghemawat, author of World 3.0:  Global Prosperity and How to Achieve It, companies can better calibrate which markets and trading partners offer the best chance for truly global gains -- further clarifying that there are great opportunities to do business abroad.

Read the entire article:

Creating a Smart Export Strategy

Related posts:

The Regional Slice of Your Global Strategy (2/4/06)

Redefining Global Strategy (8/17/07)

Posted by:  The Global Small Business Blog

How Global Is Your Business?

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How global is your business, really? Put your company to the test with Pankaj Ghemawat's Globalization Survey, and after completing it, download a free PDF of his 2006 McKinsey Award-winning article, "Regional Strategies for Global Leadership."

I just completed the test and it takes about 8-10 minutes. Very substantial and well-thought out. Make sure you answer all the questions -- otherwise it won't take -- and include an email address (at the beginning) to receive the free PDF article!

The Regional Slice of Your Global Strategy

In Harvard Business School's Working Knowledge

A regional understanding should be part of your overall global strategy, says Professor Pankaj Ghemawat. One key: Recognize that regions don’t stop at national borders. An excerpt from Harvard Business Review.