Winning the Globalization Game (HBR Article Collection)

Hundreds of millions of people in emerging global markets are eager to spend their money on products that will improve their quality of life. Yet, some companies stumble badly when trying to serve these consumers, whereas others generate only lukewarm revenues. Why? These businesses underestimate the risks and opportunities of globalizing. They cater to tiny segments of affluent buyers who most resemble Westerners--missing out on huge lower income markets. Or they assume--wrongly--that globalizing means merely slashing costs through offshoring. Some don't assess the true impact of geographic, cultural, political, and economic differences on their cross-regional business dealings. To win the globalization game, determine how you'll serve the vast pools of lower income consumers in developing regions. Translate offshoring's cost savings into new forms of value for these customers--such as lower prices. And carefully gauge the impact of cultural and other differences on potential overseas investments. This Harvard Business Review Article Collection offers suggestions for all three tactics. The three Harvard Business Review articles in this collection: "Beyond Offshoring: Assess Your Company's Global Potential" by Diana Farrell (HBR reprint R0412E), "Distance Still Matters: The Hard Reality of Global Expansion" by Pankaj Ghemawat (HBR reprint R0108K), and "The End of Corporate Imperialism" by C.K. Prahalad and Kenneth Lieberthal (HBR reprint R0308G).