HBR On Strategy How Globalization Has Changed Strategic Planning
30 snips
Nov 6, 2024 
Pankaj Ghemawat, a Professor at NYU’s Stern School of Business and a globalization expert, dives into the intricate world of strategic planning reshaped by globalization. He discusses how companies need to rethink supply chains and embrace localization following NAFTA. The conversation highlights public distrust towards large entities and sheds light on Walmart's impact on lower-income populations. Ghemawat also emphasizes India's growing potential in global trade while addressing the myths surrounding technology's role in overcoming trade barriers.
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Globalony
- Globalization is less prevalent than perceived, with international interactions representing small percentages of global activity.
- Metrics like international calls, foreign investment, and cross-border friendships are lower than expected.
Backlash Against Globalization
- Exaggerated perceptions of globalization and the tendency to blame it for various problems fuel the backlash against it.
- People overestimate immigration rates, which contributes to negative sentiment.
The Philadelphia Suit
- A Philadelphia textile designer's attempt to create a suit using only local materials highlighted the cost of deglobalization.
- The suit was expensive, took six months to produce, and still required some non-local inputs.
