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Redefining Global Strategy

Crossing Borders in a World Where Differences Still Matter

Why do so many global strategies fail-despite companies' powerful brands and other border-crossing advantages? Seduced by market size, the illusion of a borderless, "flat" world, and the allure of similarities, firms launch one-size-fits-all strategies.

But cross-border differences are larger than we often assume, explains Pankaj Ghemawat in Redefining Global Strategy. Most economic activity - including direct investment, tourism, and communication - happens locally, not internationally.

In this "semiglobalized" world, one-size-fits-all strategies don't stand a chance. Companies must instead reckon with cross-border differences. Ghemawat shows you how - by providing tools for:

  • Assessing the cultural, administrative, geographic, and economic differences between countries at the industry level and deciding which ones merit attention.
  • Tracking the implications of particular border-crossing moves for your company's ability to create value.
  • Creating superior performance with strategies optimized for adaptation (adjusting to differences), aggregation (overcoming differences), and arbitrage (exploiting differences), and for compound objectives.

In-depth examples reveal how companies such as Cemex, Toyota, Procter & Gamble, Tata Consultancy Services, IBM, and GE Healthcare have adroitly managed cross-border differences - as well as how other well-known companies have failed at this challenge.

Crucial for any business competing across borders, this book will transform the way you approach global strategy.


  • "Most of us do not need much persuading that the world is still round, but Pankaj Ghemawat redefines its circularity. He shows how companies can benefit from what he calls semiglobalization, while not falling into the traps unwittingly set by those who talk glibly about our 'globalised world."

Sir Howard Davies, Director, London School of Economics and Political Science, former Chairman, Financial Services Authority, United Kingdom

  •  "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!"

    Prof. Dr. Ulrich Lehner, Chairman of the Management Board, Henkel KGaA, Germany

  •  "An impeccably researched reassessment of the global business world--not as an ideal but as it really is."

    Sir Martin Sorrell, CEO, WPP Group

  • "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."

    José Ignacio Gorigolzarri, President and COO, BBVA

  • "Pankaj Ghemawat′s Redefining Global Strategy has very appropriately i