You know those news reports that show how American students lag way behind kids from other far-off countries when it comes to scoring on standard math, science, and technology tests?
Well, those kids from those far off lands have now grown up and are eager to claim the world as their turf.
Globalization is about Americans outsourcing product development and services to other countries. Globality is the next step, in which rapidly developing economies from around the world are now competing with us head to head. The authors present a strong case that the economic climate in which we have lived is going to change in unprecedented ways.
Over the past five years, Hal Sirkin, Jim Hemerling, and Arindam Bhattacharya,, of the prestigious Boston Consulting Group, have completed an exhaustive study of more than 3,000 companies operating in the emerging market economies of China, India, Brazil, Mexico, Russia, and Eastern Europe. Sirkin, Hemerling, and Bhattacharya believe that these companies, which seem obscure today, will be the GMs, Monsantos, Apples, Proctor and Gambles and Toyotas of the future.
Sooner than we think, we will either end up working for these foreign-based companies or, even worse, having to compete with them.Globality describes how these new companies have come to power, and how, in the West, we will have to step up our game if we are to compete with these new, lean, powerful businesses.
©2008 The Boston Consulting Group, Inc.; (P)2008 Hachette Audio