Race for the World: Strategies to Build a Great Global Firm

In Race for the World, consultants with McKinsey & Co. look at the vast changes in the world's economy that are altering the way almost everyone does business. The authors believe that geographic barriers to business will virtually disappear over the next 30 years and that the implications for companies could be devastating--or incredibly rewarding. "Over time, the only class that matters will be world class," write Lowell Bryan, Jane Fraser, Jeremy Oppenheim, and Wilhelm Rall. "All others will be forced to restructure or go out of business."

The authors see world economic integration spurred on by new access to capital markets, advances in computing and communication technologies, and a rapid decline in government influence. While some companies, such as Cisco, Yahoo!, General Electric, and Enron, should reap tremendous benefits, most are moving too slowly, according to the consultants. The book provides many strategies for success in the next millennium and includes chapters on the importance of market capitalizations, for example, and building "superior intangibles--intellectual property, talent, brands and networks." Race for the World is a stimulating read for managers, investors, and others interested in the future of business. --Dan Ring