1.

1 Please give summary from HBR article Introduction to International

Strategy

Here is a summary of the HBR article "Introduction to International Strategy":

 International strategy is the process of making decisions about how to compete in multiple
countries.
 Effective international strategy is based on a source of competitive advantage that
capitalizes on one of three factors: heterogeneity, scale, or volatility.
 Heterogeneity refers to the differences between countries in terms of customer needs,
regulations, and competition.
 Scale refers to the size of the market and the potential for economies of scale.
 Volatility refers to the pace of change in the market.
 Multinationals need to choose the products they offer, the countries in which they compete,
the location of their activities, and their organizational design contingent on their
international strategy.

The article goes on to discuss the different types of international strategies and provides
examples of companies that have successfully implemented them.

Here are some of the key takeaways from the article:

 International strategy is a complex and challenging process, but it can be a source of

significant competitive advantage for companies that do it well.
 The key to success is to identify a source of competitive advantage that can be leveraged in
multiple countries.
 Multinationals need to be flexible and adaptable in order to succeed in a global
marketplace.

I hope this summary is helpful. Please let me know if you have any other questions.

1.2 Please give summary from The New York Times article "It's a Flat World,
After All"

Here is a summary of the New York Times article "It's a Flat World, After All":

In his article, Thomas Friedman argues that the world is becoming increasingly flat, meaning
that it is becoming easier for people and businesses to connect and collaborate across
borders. He identifies 10 factors that he believes have contributed to the flattening of the
world, including:
 The fall of the Berlin Wall and the end of the Cold War
 The rise of the internet and other information technologies
 The outsourcing of jobs to developing countries
 The increasing number of multinational companies
 The growing importance of knowledge and innovation

Friedman argues that the flattening of the world has a number of implications for businesses
and individuals. For businesses, it means that they need to be more agile and adaptable in
order to compete in a global marketplace. For individuals, it means that they have more
opportunities to learn, collaborate, and start businesses.

The article has been controversial, with some critics arguing that Friedman exaggerates the
extent to which the world is becoming flat. However, the article has also been praised for its
insights into the changing global economy.

Here are some of the key takeaways from the article:

 The world is becoming increasingly interconnected, thanks to the internet and other
information technologies.
 This interconnectedness is making it easier for people and businesses to connect and
collaborate across borders.
 This trend is having a significant impact on businesses and individuals, and it is likely to
continue in the years to come.

1.3 Please give summary from article "Why the World Isn’t Flat, Foreign
Policy" by Pankaj Ghemawat

In his article "Why the World Isn't Flat," Pankaj Ghemawat argues that the world is not as
globalized as some people believe. He cites a number of factors to support his argument,
including the following:

 Only a small percentage of the world's trade is between countries.

 Most foreign direct investment (FDI) is still concentrated in a few developed countries.
 The cost of doing business varies significantly from country to country.
 Cultural differences can make it difficult to do business across borders.

Ghemawat argues that these factors mean that companies cannot simply assume that they
can operate in any country in the same way. They need to tailor their strategies to the
specific conditions of each market.
 Ghemawat's article is a valuable reminder that the world is not as flat as it may seem.
Companies that want to succeed in the global economy need to be aware of the challenges
and opportunities that each market presents.

Here are some additional points from the article:

 The world is not as integrated as it is often portrayed.

 There are still significant differences between countries in terms of their economic, political,
and cultural systems.
 These differences can make it difficult to do business across borders.
 Companies need to be aware of these differences and tailor their strategies accordingly.

Ghemawat's article is a valuable resource for anyone who wants to understand the
challenges and opportunities of globalization.

1.4 Please give summary from article "Anti Globalization or Xenophobia" by

Freund (2016)

In his article "Anti-Globalization or Xenophobia?", Charles Freund argues that the current
backlash against globalization is not simply a reaction to economic factors, but is also driven
by xenophobia and fear of the other. He cites a number of factors to support his argument,
including the following:

 The rise of populism and nationalism in many countries.

 The increasing popularity of anti-immigrant and anti-refugee rhetoric.
 The growing popularity of conspiracy theories about globalization.

Freund argues that these factors are all symptoms of a deeper fear of the other, which is
being exploited by populist and nationalist leaders. He warns that this fear could lead to a
more divided and less prosperous world.

Here are some additional points from the article:

 The backlash against globalization is not simply a reaction to economic factors.

 Xenophobia and fear of the other are also playing a role.
 This fear could lead to a more divided and less prosperous world.

Freund's article is a valuable warning about the dangers of xenophobia and the importance
of understanding the root causes of the backlash against globalization.
 In addition to the points made by Freund, it is also important to note that the backlash
against globalization is not evenly distributed. It is strongest in countries that have been hit
hard by economic globalization, such as the United States and the United Kingdom. In these
countries, the backlash is often driven by a sense of economic insecurity and a belief that
globalization has benefited the wealthy at the expense of the working class.

The backlash against globalization is a complex phenomenon with a variety of causes. It is

important to understand these causes in order to address the problem and prevent it from
leading to a more divided and less prosperous world.

1.5 Please give summary from HBR article "The New Rules of Globalization"

The article "The New Rules of Globalization" by Ian Bremmer argues that the world is
entering a new phase of globalization, one that is characterized by greater state
intervention and protectionism. Bremmer identifies three key trends that are driving this
change:

1. The rise of state capitalism: In recent years, we have seen a growing number of countries,
including China, Russia, and India, adopt a state-led model of economic development. These
countries are using their state-owned enterprises to compete with foreign companies and to
protect their domestic markets.
2. The backlash against globalization: In many countries, there has been a growing backlash
against globalization. This backlash is driven by a number of factors, including concerns
about job losses, environmental damage, and cultural erosion.
3. The rise of new technologies: The development of new technologies, such as artificial
intelligence and robotics, is also having a significant impact on globalization. These
technologies are making it possible for companies to produce goods and services more
efficiently and to reach new markets.

Bremmer argues that these trends are creating a new set of challenges and opportunities
for businesses. Companies that want to succeed in the global economy will need to adapt to
the new rules of globalization. This will require them to develop new strategies, forge new
partnerships, and build new capabilities.

Here are some of the key takeaways from the article:

 The world is entering a new phase of globalization, one that is characterized by greater state
intervention and protectionism.
 This change is being driven by a number of factors, including the rise of state capitalism, the
backlash against globalization, and the development of new technologies.
 Companies that want to succeed in the global economy will need to adapt to the new rules
of globalization.
The article provides a valuable overview of the challenges and opportunities facing
businesses in the global economy. It is a must-read for anyone who wants to understand the
future of globalization.

2.1 Please give summary from article " The Competitive Advantage of
Nations" by Michael E Porter

In his book "The Competitive Advantage of Nations," Porter introduces the theory of
national competitive advantage, also known as the diamond model. He argues that the
competitiveness of a nation is not solely determined by its industries or companies but is
influenced by a range of factors that form a system or framework.
Porter's diamond model consists of four interconnected determinants of national
competitive advantage:
Factor conditions: This refers to a nation's endowments, such as natural resources, skilled
labor, infrastructure, and technological capabilities. The quality and availability of these
factors influence a nation's competitive strength.
Demand conditions: The nature and size of the domestic market play a crucial role in driving
innovation and the development of competitive industries. Sophisticated and demanding
domestic customers can stimulate companies to improve their products and services,
making them more competitive globally.
Related and supporting industries: The presence of strong supporting industries and
supplier networks enhances competitiveness. Competitive advantages in upstream and
downstream industries can create positive spill over effects, driving innovation, efficiency,
and specialization.
Firm strategy, structure, and rivalry: The way companies are created, organized, and
managed within a nation, as well as the intensity of domestic competition, influences their
ability to innovate, upgrade, and compete internationally. A highly competitive domestic
market can foster innovation and lead to international competitiveness.
Porter argues that these determinants interact and reinforce each other, forming a
diamond-shaped system of national competitive advantage. Additionally, he discusses the
role of government policies, chance events, and the influence of cultural and institutional
factors on a nation's competitiveness.
Overall, the article explores the idea that the competitiveness of nations goes beyond
individual industries and companies, and it is influenced by a complex interplay of factors.
By understanding and nurturing these determinants, nations can enhance their competitive
advantage in the global economy.
 2.2 Please give summary from HBR article "Why Your Company Needs a
Foreign Policy"

The article "Why Your Company Needs a Foreign Policy" by John Chipman argues that
multinational companies need to adopt a corporate foreign policy in order to be successful
in a world of increasing geopolitical volatility. A corporate foreign policy is a set of principles
and guidelines that a company uses to make decisions about its international operations. It
should include a clear understanding of the company's values and interests, as well as a plan
for how to manage risks and opportunities in different parts of the world.

Chipman argues that a corporate foreign policy can help companies to:

 Improve their understanding of the political, economic, and social environment in different
countries.
 Identify potential risks and opportunities in different markets.
 Build relationships with key stakeholders in different countries.
 Manage crises and other unexpected events.

He also argues that a corporate foreign policy can give companies a competitive advantage
by helping them to:

 Be more agile and responsive to changes in the global environment.

 Build trust and credibility with customers, partners, and governments.
 Attract and retain top talent.

The article provides a number of examples of companies that have benefited from having a
corporate foreign policy. For example, Nike has a long-standing policy of working with
factories that meet high standards of labor and environmental protection. This policy has
helped Nike to build a strong reputation for corporate responsibility and to avoid the
negative publicity that has plagued some of its competitors.

The article concludes by arguing that the world is becoming increasingly interconnected and
that multinational companies need to be prepared to deal with the challenges and
opportunities of operating in a globalized world. A corporate foreign policy can help
companies to navigate these challenges and to seize the opportunities that are available.

Here are some additional thoughts on the importance of a corporate foreign policy:

 A corporate foreign policy can help companies to avoid making costly mistakes. For
example, if a company does not have a good understanding of the political landscape in a
particular country, it could make a decision to invest in that country that turns out to be
disastrous.
 A corporate foreign policy can help companies to build relationships with key stakeholders
in different countries. These relationships can be invaluable in times of crisis or when a
company is trying to expand into a new market.
 A corporate foreign policy can help companies to manage risk. By understanding the risks
and opportunities in different parts of the world, companies can make better decisions
about where to invest and how to operate.

Overall, a corporate foreign policy is an essential tool for any multinational company that
wants to be successful in the globalized world.

2.4 Please give summary from HBR article "Managing 21st-Century Political
Risk"

here is a summary of the HBR article "Managing 21st-Century Political Risk" by Condoleezza
Rice and Amy Zegart:

The article argues that the nature of political risk has changed in the 21st century. In the
past, political risk was largely associated with traditional threats such as war, terrorism, and
political instability. However, in the 21st century, a wider range of political factors can
impact businesses, including:

 Geopolitics: The rise of new powers such as China and the decline of traditional powers
such as the United States is creating a more volatile and unpredictable global environment.
 Supply chains: The increasing globalization of supply chains means that businesses are more
vulnerable to disruptions caused by political events in other countries.
 Technology: The rise of social media and other technologies is making it easier for activists
and other groups to mobilize and challenge businesses.

The article argues that businesses need to take a more proactive approach to managing
political risk. This includes:

 Understanding the political environment in the countries where they operate: Businesses

need to have a good understanding of the political risks that they face in each country
where they operate. This includes understanding the political history, culture, and current
events in each country.
 Building relationships with key stakeholders: Businesses need to build relationships with
key stakeholders in the countries where they operate. This includes governments,
regulators, businesses, and other organizations.
 Developing contingency plans: Businesses need to develop contingency plans in case of
political disruptions. This includes plans for evacuating employees, protecting assets, and
continuing operations.
 The article concludes by arguing that managing political risk is essential for businesses that
want to be successful in the 21st century.

Here are some additional thoughts on managing political risk:

 Be prepared to adapt: The political landscape is constantly changing, so businesses need to

be prepared to adapt their strategies accordingly.
 Be transparent: Businesses should be transparent about their activities and operations in
order to build trust with stakeholders.
 Be accountable: Businesses should be accountable for their actions and should take steps to
mitigate the impact of political risk.

By taking these steps, businesses can reduce the likelihood of being negatively impacted by
political risk.

4.1 Please give summary from article "The Globalization of Markets" by

Theodore Levitt

here is a summary of the article "The Globalization of Markets" by Theodore Levitt:

In his article, Levitt argues that markets are becoming increasingly globalized, and that this
trend is having a profound impact on the way businesses operate. He defines globalization
as "the process by which markets and societies around the world are becoming increasingly
integrated." This integration is being driven by a number of factors, including:

 The fall of trade barriers: The World Trade Organization (WTO) and other international
organizations have played a major role in reducing trade barriers between countries. This
has made it easier for businesses to sell their products and services in new markets.
 The rise of technology: The development of new technologies, such as the internet and
mobile phones, has made it possible for businesses to reach customers all over the world.
 The growth of multinational corporations: Multinational corporations are companies that
operate in multiple countries. These companies have the resources and expertise to develop
and market products and services that appeal to global consumers.

Levitt argues that the globalization of markets is forcing businesses to rethink their
strategies. In the past, businesses could focus on local markets and tailor their products and
services to the specific needs of those markets. However, in the globalized marketplace,
businesses need to focus on developing products and services that appeal to a global
audience. This means that businesses need to be more standardized in their approach to
marketing and operations.

Levitt argues that there are a number of benefits to globalization. First, it allows businesses
to reach a larger market and to grow their sales. Second, it allows businesses to take
 advantage of economies of scale. Third, it allows businesses to spread their risk across
multiple markets.

However, there are also a number of challenges associated with globalization. First,
businesses need to be able to adapt their products and services to meet the needs of
different cultures. Second, businesses need to be able to manage the risks associated with
operating in multiple countries. Third, businesses need to be able to compete with
multinational corporations that have a global reach.

Overall, Levitt argues that globalization is a positive trend for businesses. However, he also
acknowledges that there are challenges associated with globalization. Businesses that are
able to adapt to these challenges will be well-positioned to succeed in the global
marketplace.

Here are some additional thoughts on the globalization of markets:

 The globalization of markets is a complex phenomenon with a wide range of implications for
businesses. Businesses need to carefully consider the opportunities and challenges
associated with globalization before making decisions about how to operate in the global
marketplace.
 The globalization of markets is not a one-size-fits-all solution. Different businesses will need
to adopt different strategies to succeed in the global marketplace.
 The globalization of markets is an ongoing process. The landscape of the global marketplace
is constantly changing, so businesses need to be prepared to adapt their strategies
accordingly.

4.2 Please give summary from HBR article "Regional Strategies for Global
Leadership" by Pankaj Ghemawat

here is a summary of the HBR article "Regional Strategies for Global Leadership" by Pankaj
Ghemawat:

In his article, Ghemawat argues that regional strategies can be a more effective way for
businesses to achieve global leadership than a single, global strategy. He defines a regional
strategy as "a strategy that focuses on a particular region of the world and tailors its
products, services, and operations to the specific needs of that region."

Ghemawat argues that there are a number of reasons why regional strategies can be more
effective than global strategies. First, regional strategies allow businesses to take advantage
of regional economies of scale. Second, regional strategies allow businesses to better
understand and respond to the needs of local customers. Third, regional strategies can help
businesses to avoid the risks associated with operating in multiple countries.
 Ghemawat identifies five types of regional strategies:

 Home base strategy: This strategy involves locating R&D and manufacturing in the
company's home country and then exporting products and services to other regions.
 Portfolio strategy: This strategy involves establishing operations in multiple regions, but
each region is treated as a separate business unit.
 Hub strategy: This strategy involves using one region as a hub for operations in other
regions.
 Platform strategy: This strategy involves using one region as a platform for launching
products and services into other regions.
 Mandate strategy: This strategy involves giving one region the responsibility for developing
and managing products and services for other regions.

Ghemawat argues that the best regional strategy for a particular business will depend on a
number of factors, including the business's industry, its size, and its resources. However, he
argues that all businesses should consider adopting a regional strategy as a way to improve
their chances of achieving global leadership.

Here are some additional thoughts on regional strategies:

 Regional strategies are not a substitute for global strategies. Businesses that want to
achieve global leadership will still need to have a global presence. However, regional
strategies can help businesses to better compete in the global marketplace.
 Regional strategies are not a one-size-fits-all solution. Different businesses will need to
adopt different regional strategies.
 Regional strategies are an ongoing process. The landscape of the global marketplace is
constantly changing, so businesses need to be prepared to adapt their regional strategies
accordingly.

4.3 Please give summary from article "A Theory of GATT -WTO" from Darden
business publishing

Here is a summary of the article "A Theory of GATT/WTO" from Darden Business Publishing:

The article discusses the history and theory of the General Agreement on Tariffs and Trade
(GATT) and its successor, the World Trade Organization (WTO). The author argues that
GATT/WTO is a "theory of international cooperation" that has helped to reduce trade
barriers and promote economic growth.
 The article begins by discussing the history of GATT. GATT was established in 1947 as an
attempt to promote trade liberalization after World War II. The agreement was based on the
principle of non-discrimination, which means that countries should not discriminate against
imports from other countries. GATT also included provisions for reducing tariffs and other
trade barriers.

The article then discusses the theory of GATT/WTO. The author argues that GATT/WTO is
based on the idea that trade liberalization can lead to economic growth. He argues that
trade liberalization can lead to increased efficiency, lower prices, and more innovation. The
author also argues that GATT/WTO can help to promote peace and stability by reducing
economic interdependence.

The article concludes by discussing the future of GATT/WTO. The author argues that
GATT/WTO is facing a number of challenges, including the rise of protectionism and the
increasing importance of non-tariff barriers. However, the author argues that GATT/WTO
remains an important institution for promoting trade liberalization and economic growth.

Here are some additional thoughts on GATT/WTO:

 GATT/WTO has been successful in reducing trade barriers and promoting economic growth.
 GATT/WTO is facing a number of challenges, but it remains an important institution for
promoting trade liberalization.
 Businesses should support GATT/WTO because it can help to reduce costs and increase
profits.

4.4 Please give summary from article "Customs Unions and Free Trade Areas"
from Darden Business Publishing

Here is a summary of the article "Customs Unions and Free Trade Areas" from Darden
Business Publishing:

A customs union is a type of economic agreement between countries. In a customs union,

countries agree to remove tariffs and other trade barriers on goods traded between them.
They also agree to have a common external tariff on goods traded with countries outside
the customs union.

A free trade area is a type of economic agreement between countries. In a free trade area,
countries agree to remove tariffs and other trade barriers on goods traded between them.
However, they do not have a common external tariff on goods traded with countries outside
the free trade area.

There are a number of benefits to forming a customs union or free trade area. First, it can
lead to increased trade between the member countries. This can lead to lower prices for
consumers and increased profits for businesses. Second, it can lead to increased
 competition, which can lead to innovation and efficiency gains. Third, it can help to promote
economic growth.

However, there are also a number of challenges to forming a customs union or free trade
area. First, it can be difficult to reach agreement on the terms of the agreement. Second, it
can be difficult to enforce the terms of the agreement. Third, it can lead to job losses in
some sectors of the economy.

Overall, customs unions and free trade areas can be a beneficial way to promote trade and
economic growth. However, it is important to weigh the benefits and challenges before
forming one.

Here are some additional thoughts on customs unions and free trade areas:

 Customs unions and free trade areas can be a beneficial way to promote trade and
economic growth.
 However, it is important to weigh the benefits and challenges before forming one.
 Businesses should consider the potential benefits and challenges of forming a customs
union or free trade area before making a decision.

5.2 Please give summary from article "Beating the odds in market entry"

Here is a summary of the article "Beating the odds in market entry" by John T. Horn, Dan
Lovallo, and S.P. Vigurie:

The article discusses the challenges of entering new markets and provides advice on how to
increase the chances of success. The authors argue that the odds of success are stacked
against new entrants, with only one in four new entrants achieving long-term success. They
identify a number of factors that contribute to failure, including:

 Lack of understanding of the local market: New entrants often fail to understand the local
market, including the needs of customers, the competitive landscape, and the regulatory
environment.
 Inadequate resources: New entrants often lack the resources they need to succeed in a new
market, including financial resources, human resources, and marketing resources.
 Poor execution: New entrants often fail to execute their market entry strategy effectively,
leading to missed opportunities and costly mistakes.
 The authors argue that businesses can increase their chances of success by carefully
planning their market entry strategy and by taking steps to mitigate the risks associated
with entering a new market. They recommend the following steps:

 Do your homework: Conduct extensive research on the local market, including the needs of
customers, the competitive landscape, and the regulatory environment.
 Build a strong team: assemble a team of experienced professionals with the skills and
knowledge necessary to succeed in the local market.
 Develop a sound strategy: develop a market entry strategy that is tailored to the specific
needs of the local market.
 Be prepared to adapt: be prepared to adapt your strategy as needed in response to changes
in the local market.

The authors conclude by arguing that by following these steps, businesses can increase their
chances of success in entering new markets.

Here are some additional thoughts on market entry:

 Market entry is a complex and challenging process.

 There are a number of factors that can contribute to failure.
 Businesses can increase their chances of success by carefully planning their market entry
strategy and by taking steps to mitigate the risks associated with entering a new market.

5.3 Please give summary from HBR article "Cracking the Next Growth
Market- Africa"

Here is a summary of the HBR article "Cracking the Next Growth Market- Africa" by Mutsa
Chironga, Acha Leke, Susan Lund, and Arend van Wamelen:

The article discusses the opportunities and challenges of doing business in Africa. The
authors argue that Africa is a continent with a lot of potential, but that it also faces a
number of challenges. They identify a number of factors that are driving growth in Africa,
including:

 A young and growing population: Africa has the youngest population in the world, with a
median age of 19. This means that there is a large pool of potential consumers.
 Rapid economic growth: Africa is one of the fastest-growing regions in the world, with GDP
growth averaging 5% per year. This growth is being driven by a number of factors, including:
o Increased investment: Foreign investment in Africa has increased significantly in recent
years.
o Exports: Africa's exports have also increased significantly in recent years.
o Domestic demand: Domestic demand in Africa is also growing, as incomes rise and people
have more disposable income.
 A growing middle class: The middle class in Africa is growing rapidly, and this is creating a
demand for new products and services.

The authors argue that businesses that can successfully navigate the challenges of doing
business in Africa can reap significant rewards. They identify a number of challenges that
businesses face in Africa, including:

 Infrastructure: Africa's infrastructure is often poor, which can make it difficult to transport

goods and services.
 Corruption: Corruption is a major problem in many African countries, which can make it
difficult to do business.
 Political instability: Political instability is a problem in some African countries, which can
make it difficult to plan for the future.

The authors argue that businesses that can successfully overcome these challenges can reap
significant rewards. They recommend the following steps for businesses that want to
succeed in Africa:

 Partner with local businesses: Partnering with local businesses can help businesses to
understand the local market and to build relationships with key stakeholders.
 Invest in training and development: Investing in training and development can help
businesses to build a skilled workforce.
 Be patient: Doing business in Africa can be a long-term proposition. Businesses need to be
patient and persistent in order to succeed.

The authors conclude by arguing that Africa is a continent with a lot of potential, and that
businesses that can successfully navigate the challenges of doing business in Africa can reap
significant rewards.

5.4 Please give summary from MITSloan Management review article "What
Everyone Gets Wrong About the Never-Ending COVID-19 Supply Chain Crisis"

The article "What Everyone Gets Wrong About the Never-Ending COVID-19 Supply Chain
Crisis" by Yossi Sheffi, published in the MIT Sloan Management Review in October 2021,
argues that the ongoing global supply chain crisis is not due to just-in-time inventory
 management. Sheffi points to two other overarching causes of product and parts shortages:
suppliers' inability to adjust to soaring demand, and government interventions.

Sheffi begins by debunking the myth that just-in-time inventory management is to blame for
the supply chain crisis. He argues that just-in-time inventory management is a sound
business practice that has been used successfully by many companies for decades. The real
problem, he says, is that suppliers were not able to adjust to the sudden surge in demand
that occurred when the global economy reopened after the COVID-19 pandemic.

Sheffi also argues that government interventions have exacerbated the supply chain crisis.
He points to the U.S. government's decision to impose tariffs on Chinese goods, which led to
higher prices and longer lead times for many products. He also cites the U.S. government's
decision to restrict the movement of people and goods during the pandemic, which
disrupted supply chains around the world.

Sheffi concludes by calling for a more comprehensive approach to addressing the supply
chain crisis. He argues that companies need to work with suppliers to improve their
resilience and flexibility. He also calls for governments to remove trade barriers and to
invest in infrastructure that can support a more resilient global supply chain.

Here are some additional key points from the article:

 The COVID-19 pandemic has exposed the vulnerabilities of global supply chains.
 Just-in-time inventory management is not to blame for the supply chain crisis.
 Suppliers were not able to adjust to the sudden surge in demand that occurred when the
global economy reopened.
 Government interventions have exacerbated the supply chain crisis.
 A more comprehensive approach is needed to address the supply chain crisis.

6.1 Please give summary from HBR article "All Strategy Is Local"

The article "All Strategy Is Local" by Bruce C. Greenwald and Judd Kahn, published in the
Harvard Business Review in September 2005, argues that true competitive advantages are
harder to find and maintain than people realize. The authors contend that the odds of
finding a sustainable competitive advantage are best in tightly drawn markets, not big,
sprawling ones.

Greenwald and Kahn begin by defining a competitive advantage as "anything that allows a
company to earn a higher return on its capital than its competitors." They argue that there
are only a few sources of true competitive advantage, including:
 Customer captivity: This occurs when customers are loyal to a particular brand or product,
and are unwilling to switch to a competitor.
 Economies of scale: This occurs when a company can produce its goods or services more
cheaply than its competitors, due to its size or scope of operations.
 Patents or other intellectual property: This gives a company a monopoly on a particular
technology or product, which can allow it to charge higher prices.

The authors argue that these sources of competitive advantage are difficult to find and
maintain, especially in big, sprawling markets. This is because in big markets, there are many
competitors, and it is difficult to differentiate oneself from the competition. In addition, in
big markets, it is easy for new competitors to enter, which can erode a company's
competitive advantage.

In contrast, the authors argue that the odds of finding a sustainable competitive advantage
are best in tightly drawn markets. This is because in tightly drawn markets, there are fewer
competitors, and it is easier to differentiate oneself from the competition. In addition, in
tightly drawn markets, it is more difficult for new competitors to enter, which can help a
company to maintain its competitive advantage.

The authors conclude by arguing that companies should focus on finding and exploiting
competitive advantages in tightly drawn markets. They argue that this is the best way to
achieve superior returns on capital.

Here are some additional key points from the article:

 True competitive advantages are hard to find and maintain.

 The odds of finding a sustainable competitive advantage are best in tightly drawn markets.
 Companies should focus on finding and exploiting competitive advantages in tightly drawn
markets.

6.2 Please give summary from article "The Liabilities of Origin An Emerging
Economy Perspective on the cost of doing business abroad"

The article "The Liabilities of Origin: An Emerging Economy Perspective on the Cost of Doing
Business Abroad" by J. Ramachandran and Anirvan Pant, published in the Harvard Business
Review in March 2010, argues that emerging-market multinational enterprises (MNEs) face
a number of disadvantages when they do business abroad. These disadvantages, which the
authors call "liabilities of origin," can make it difficult for emerging-market MNEs to
compete with their developed-market counterparts.
 The authors identify three main types of liabilities of origin:

 Capability-based liabilities: These liabilities arise from the fact that emerging-market MNEs
often lack the skills and resources needed to compete effectively in developed markets. For
example, they may lack access to advanced technology, or they may not have the
experience of operating in complex regulatory environments.
 Legitimacy-based liabilities: These liabilities arise from the fact that emerging-market MNEs
are often seen as less legitimate than their developed-market counterparts. This can make it
difficult for them to win the trust of customers, suppliers, and other stakeholders in
developed markets.
 Image-based liabilities: These liabilities arise from the negative stereotypes that often exist
about emerging markets. For example, emerging markets may be seen as corrupt, or they
may be seen as having poor quality standards. These stereotypes can make it difficult for
emerging-market MNEs to build a positive image in developed markets.

The authors argue that emerging-market MNEs can overcome these liabilities of origin by
taking a number of steps, including:

 Building capabilities: Emerging-market MNEs need to invest in building the skills and

resources they need to compete effectively in developed markets. This may involve
acquiring technology, hiring experienced managers, or building relationships with key
stakeholders in developed markets.
 Managing their image: Emerging-market MNEs need to be aware of the negative
stereotypes that exist about emerging markets, and they need to take steps to manage their
image in developed markets. This may involve communicating their values, their
commitment to quality, and their responsible business practices.
 Building legitimacy: Emerging-market MNEs need to build legitimacy in developed markets
by demonstrating that they are committed to playing by the rules and that they are a good
corporate citizen. This may involve complying with local regulations, investing in local
communities, and supporting local businesses.

The authors conclude by arguing that emerging-market MNEs can overcome the liabilities of
origin and achieve success in developed markets. However, they argue that this will require
a concerted effort to build capabilities, manage their image, and build legitimacy.

Here are some additional key points from the article:

 Emerging-market MNEs face a number of disadvantages when they do business abroad.

 These disadvantages are called "liabilities of origin."
 There are three main types of liabilities of origin: capability-based, legitimacy-based, and
image-based.
 Emerging-market MNEs can overcome these liabilities by taking a number of steps.
 These steps include building capabilities, managing their image, and building legitimacy.

6.3 Please give summary from MITSloan Management review article

"Challenge for Multinational Corporations in China- Think Local, Act Global"

The article "Challenge for Multinational Corporations in China: Think Local, Act Global" by
Seung Ho Park, Wilfried R. Vanhonacker, and Son Lam, published in the MIT Sloan
Management Review in July 2007, argues that multinational corporations (MNCs) face a
number of challenges when they do business in China. The authors argue that MNCs need to
adopt a "think local, act global" strategy in order to succeed in China.

The authors identify four main challenges that MNCs face in China:

 The cultural challenge: China is a very different culture from the West, and MNCs need to
be sensitive to these differences in order to succeed. For example, MNCs need to be aware
of the importance of guanxi, or personal relationships, in Chinese business culture.
 The regulatory challenge: China has a complex regulatory environment, and MNCs need to
make sure that they are in compliance with all applicable laws and regulations. For example,
MNCs need to be aware of the Chinese government's restrictions on foreign investment in
certain industries.
 The competitive challenge: China is a very competitive market, and MNCs need to be able
to compete with local Chinese companies. For example, MNCs need to be able to offer
products and services that are competitively priced and that meet the needs of Chinese
consumers.
 The human resources challenge: China has a large and growing workforce, but MNCs need
to be able to find and retain qualified employees. For example, MNCs need to offer
competitive salaries and benefits, and they need to provide training and development
opportunities for their employees.

The authors argue that MNCs can overcome these challenges by adopting a "think local, act
global" strategy. This strategy involves adapting their products and services to the Chinese
market, while maintaining their global brand and reputation. For example, MNCs may need
to localize their products to meet the tastes of Chinese consumers, or they may need to
adapt their marketing campaigns to reach Chinese consumers.

The authors conclude by arguing that MNCs that can successfully adopt a "think local, act
global" strategy will be well-positioned to succeed in China.

Here are some additional key points from the article:

 MNCs face a number of challenges when they do business in China.

 These challenges include cultural differences, regulatory complexity, competitive pressure,
and human resources challenges.
 MNCs can overcome these challenges by adopting a "think local, act global" strategy.
 This strategy involves adapting products and services to the Chinese market, while
maintaining global brand and reputation.

6.4 Please give summary from HBR article "Creating Shared Value"

The article "Creating Shared Value" by Michael Porter and Mark Kramer argues that
companies can create shared value by reconceiving products and markets, redefining
productivity in the value chain, and building supportive industry clusters.

Shared value is a concept that redefines the purpose of business. It goes beyond
philanthropy and corporate social responsibility, and instead focuses on creating economic
value in a way that also produces value for society by addressing its challenges.

Companies can create shared value by reconceiving products and markets in ways that meet
social needs. For example, GE's ecoimagination initiative focuses on developing products
and services that help customers save energy and reduce their environmental impact.

Companies can also redefine productivity in the value chain by reducing waste and
emissions, and by improving working conditions. For example, Walmart has implemented a
number of sustainability initiatives, including reducing its energy consumption and waste,
and improving the working conditions in its supply chain.

Finally, companies can build supportive industry clusters by investing in education and
training, and by working with local governments to improve infrastructure. For example,
Danone has invested in a number of initiatives to improve the health of children in
developing countries, including providing access to clean water and sanitation, and
improving nutrition education.

Creating shared value is not just good for society, it is also good for business. Companies
that create shared value are more likely to be innovative, competitive, and profitable. They
are also more likely to attract and retain customers, employees, and investors.

The concept of shared value is still in its early stages, but it has the potential to revolutionize
the way business is done. By creating shared value, companies can help to solve some of the
world's most pressing problems, while also creating economic value for themselves.
 7.1 Please give summary from HBR article "What Is a Global Manager"

The article "What Is a Global Manager?" by Christopher Bartlett and Sumantra Ghoshal
argues that there is no such thing as a "universal" global manager. Rather, there are three
groups of specialists: business managers, country managers, and functional managers. Each
group has its own unique set of skills and responsibilities.

 Business managers are responsible for developing and implementing global strategies. They
need to have a deep understanding of the global market, as well as the ability to coordinate
activities across different countries.
 Country managers are responsible for running the company's operations in a particular
country. They need to have a deep understanding of the local market, as well as the ability
to build relationships with local customers, suppliers, and government officials.
 Functional managers are responsible for managing specific functions within the company,
such as marketing, finance, or operations. They need to have a deep understanding of their
functional area, as well as the ability to work effectively with people from different cultures.

In addition to these three groups of specialists, there are also the top executives at
corporate headquarters who manage the complex interactions between the three. These
executives need to have a deep understanding of all three areas, as well as the ability to
think strategically and make decisions that are in the best interests of the company as a
whole.

The authors argue that the ability to identify and develop talented executives is one of the
most important challenges facing companies today. They also argue that the ability to
create a culture that supports global managers is essential for success in the global
marketplace.

Here are some of the key skills and abilities that global managers need:

 Strategic thinking: Global managers need to be able to think strategically about the

company's long-term goals and objectives. They need to be able to identify and evaluate
opportunities in the global market, and to develop plans to capitalize on those
opportunities.
 Cultural sensitivity: Global managers need to be sensitive to different cultures and customs.
They need to be able to understand and appreciate the different ways that people do
business in different parts of the world.
 Communication skills: Global managers need to be able to communicate effectively with
people from different cultures. They need to be able to listen to and understand different
perspectives, and to communicate their own ideas clearly and concisely.
 Teamwork skills: Global managers need to be able to work effectively with people from
different cultures. They need to be able to build relationships and trust, and to work
together to achieve common goals.
 If you are interested in a career in global management, there are a few things you can do to
prepare. First, you should develop your skills in strategic thinking, cultural sensitivity,
communication, and teamwork. You can do this by taking courses, reading books, and
participating in internships and other international experiences. Second, you should
network with people who work in global management. This will help you learn more about
the field and get your foot in the door. Finally, you should be patient and persistent. It takes
time and effort to develop the skills and experience necessary for a successful career in
global management.

7.2 Please give summary from article "No Such Thing as a Global Manager"
by Business Horizons

The article "No Such Thing as a Global Manager" by Yehuda Baruch argues that there is no
such thing as a "universal" global manager. Rather, the skills and abilities that are required
for success in a global role vary depending on the specific context.

Baruch identifies four key factors that influence the skills and abilities required for success in
a global role:

 The nature of the job: The specific tasks and responsibilities of the job will vary depending
on the company and the industry. For example, a global manager who is responsible for
marketing products in different countries will need different skills than a global manager
who is responsible for managing production in different countries.
 The company's culture: The company's culture will also influence the skills and abilities that
are required for success in a global role. For example, a company that has a strong focus on
innovation will need global managers who are creative and entrepreneurial.
 The country or region in which the job is located: The country or region in which the job is
located will also influence the skills and abilities that are required for success. For example,
a global manager who is working in a country with a high power distance culture will need
different skills than a global manager who is working in a country with a low power distance
culture.
 The individual's own background and experience: The individual's own background and
experience will also play a role in determining the skills and abilities that are required for
success. For example, an individual who has lived and worked in multiple countries will have
a different set of skills than an individual who has not had this experience.

Baruch argues that companies should focus on developing the skills and abilities that are
specific to the job, the company's culture, the country or region in which the job is located,
and the individual's own background and experience. He also argues that companies should
avoid trying to develop a "universal" global manager, as this is not possible.

The article "No Such Thing as a Global Manager" provides a valuable framework for thinking
about the skills and abilities that are required for success in a global role. By understanding
the factors that influence the skills and abilities required for success, companies can develop
global managers who are better equipped to meet the challenges of the global marketplace.