Winning Across Global Markets

Lessons for attaining global competitiveness, one market at a time, from international business giant Nokia Winning Across Global Markets examines how 145-year-old Nokia grew from a paper mill in Finland to a multinational telecommunications leader. Why are Nokia's lessons critical for other companies and industries? While multinationals based in large countries benefit from inherent advantages--such as a home base that often accounts for 30 to 50 percent of their revenues--multinationals based in smaller countries such as Nokia, enjoy no such competitive edge. Nokia, in fact, generates less than 1% of its revenues in its home base. To such a company, global competitiveness is a matter of life and death. With unparalleled access to Nokia's leadership, Winning Across Global Markets reveals the remarkable story of Nokia's resilience and endurance. Shows how Nokia's flexibility and focus on its people and local markets drive its distinct global approach. Includes exclusive interviews with Nokia's senior executives and key partners Provides a roadmap for developing, capturing, and sustaining global advantage This book provides a roadmap for developing, capturing, and sustaining strategic global advantage in today's ever-changing world.

How to win across global markets? How to build competitive advantage in global, technology and knowledge intensive industries? The question of firm's competitive advantage building across global markets and industries should be placed in the context of numerous processes influencing changes in the majority of market sectors. One of such processes is vast technological progress and digital convergence as its consequence. ICT Industry by technology and communication development increases the pace of globalisation processes, and, at the same time, it is under their considerable influence. The development of technology leads to increasing requirements of users, who perceive service distribution channels as competitors e.g. nowadays mobile TV competes with traditional TV and online TV. There are also expectations of the availability of the whole packages of services available from various communication devices. Offering integrated solutions requires integration of various systems, products and services, and, as a consequence, firms become the "multiservice providers". It leads to the convergence of services, telecommunication infrastructure, data transfer methods, as well as market sectors. The consequences for ICT and related sectors are, inter alia, changes in relations between enterprises, creation of new co-operation and competition patterns, changes in roles and relations in networks, and creation of new market sectors. Firms, especially multinationals, decide more often to co-operate with their competitors, in particular in the business areas not familiar to them, in order to complete lacking competences, resources, acquire larger market share, gain access to greater number of customers, conduct R&D projects, create new products and services together, or learn something new from their partners. One of the effects of worldwide economic changes is the emergence of global competitors from emerging markets, especially from Asian countries. Concurrently, these countries constitute interesting markets for the development of current economic giants - USA and the Europe. On the one hand, it makes global competition fiercer, on the other, it creates new opportunities and chances in the global perspective. The major problem is determinants of competition in global sectors resulting from co-operation (ties, alliances) between firms. Both, in business practice and management literature, there are numerous unanswered questions concerning competing in global reality. This is the reality of dynamic changes, great uncertainty, as well as new development opportunities waiting for enterprises. The present book constitutes the attempt to answer some of these questions. The most important are the following: - Which factors contribute to the success of a firm in global scale? - What does the global competitive advantage consist in? How to create and maintain it in longer perspective? - What role does co-operation between firms, i.e. alliances and networks of alliances, play in it? - Why and how is co-operation between firms formed? What are their consequences? - How may alliances help in the improvement of the firm's effectiveness, and do they affect the creation of the firm's competitive advantage in the long run? - Do national cultures firms stem from may influence their effectiveness in global scale? Or a strategy they select? Or, are such differences between various parts of the world meaningless in the face of globalisation and technology development? - What factors affect the pace and scope of changes in one of the fastest developing sectors i.e. the ICT Industry? - What strategies do global firms select in the context of aforementioned changes?

In the 21st century global economy, emerging nations will provide almost half of the potential customers for western goods and services, concludes international business expert Jeffrey A. Rosensweig. Drawing on extensive research, Rosensweig contends that firms with truly global strategies will profit from the untapped resources of emerging markets and at the same time improve the living standards of the world?s poor. Dismissing the doomsday scenario that so-called Third World nations will continue to be mired in poverty, he argues persuasively that western executives must break out of the mindset that profitable ventures can only be found within the ?Triad? of the United States, Europe, and Japan. Rosensweig reminds us that American exports to emerging nations have tripled since 1986. He projects that, by the year 2010, the world will contain six great regional economies -- four of them in Asia -- and that three of every eight middle-class consumers will reside in the developing world. In clear, nontechnical language, he explains how executives can identify trends of globalization and apply them to business strategy, particularly to what he calls a ?time-phased? global strategy for synchronizing a firm?s investments with the progress of emerging middle classes. Winning the Global Game demonstrates that adopting a global perspective now is a win-win strategy that links people and profits. It will be important reading for all multinational executives and managers in firms which are going global. The chapter on 21st century personal career strategy will appeal particularly to the aspiring global executive.

This book explains the strategic behaviors of platform firms on the global market, drawing on extensive research on the mobile communication systems, semiconductor equipment, personal computer, and automobile electronics industries. The book focuses on Ericsson, Applied Materials, Intel, and Bosch as representative global platform companies. The book’s introductory section reports on the rise of platform business and addresses the theoretical basis of their competitive edge, based on a review of prior studies on the network effect of open standards and the economic theory of strategic behavior. The platform business obviously secures a competitive advantage on the global market. Yet this theory alone does not provide sufficient explanation for why the platform business achieves competitiveness on the market. The book proposes a theoretical framework and provides rigorous supporting evidence by using case studies and empirical analysis on the global business of platform firms. This evidence reflects the variety of global ecosystems: the mobile communications system in China, the semiconductor equipment industry in East Asia, personal computers in Taiwan, and automobile electronics in China. In conclusion, the book reviews these studies and identifies the key factors of platform strategy on the global market. Given its breadth of coverage, the book will benefit all academic researchers and undergraduate students in management and economics with an interest in global competition and collaboration in the open economy.

About the Book : - The best way to select emerging markets to exploit is to evaluate their size or growth potential, right? Not according to Tarun Khanna and Krishna Palepu. In Winning in Emerging Markets, these leading scholars on the subject present a decidedly different framework for making this crucial choice. The authors argue that the primary exploitable characteristic of emerging markets is the lack of institutions (credit card systems, intellectual property adjudication, data research firms) that facilitate efficient business operations. While such institutional voidspresent challenges, they also provide major opportunities for multinationals and local contenders. Khanna and Palepu provide a playbook for assessing emerging markets potential and for crafting strategies for succeeding in those markets. They explain how to: Spot institutional voids in developing economies, including in product, labour, and capital markets, as well as social and political systems Identify opportunities to fill those voids, for example, by building or improving market institutions yourself Exploit those opportunities through a rigorous five-phase process, including studying the market over time and acquiring new capabilities Packed with vivid examples and practical toolkits, Winning in Emerging Markets is a crucial resource for any company seeking to define and execute business strategy in developing economies. About the Authors : - Tarun Khanna is the Jorge Paulo Lemann Professor at Harvard Business School and the author of Billions of Entrepreneurs: How China and India Are Reshaping Their Future and Yours. Krishna Palepu is the Ross Graham Walker Professor of Business Administration and senior associate dean for international development at the Harvard Business School.

Real strategies, tactics & solutions for succeeding in emerging markets now Attract non-consumers and upscale current customers Reflect local culture, tradition, and preferences across your business Make your products easier to find, buy, and use Strengthen your brand and deliver on your brand promises Engage and serve all your stakeholders Build a sustainable, profitable business How big is your emerging market opportunity? Potential annual consumption will hit $30 trillion by 2025, with $10 trillion in India and China alone. Emerging economies are transforming markets worldwide–attracting multinationals, strengthening domestic firms, and launching local brands onto the global stage. Best of all, there are now proven best practices for succeeding in these markets. They’ve been developed the hard way: through the experiences of pioneers who’ve learned from mistakes and listened to their customers. This book’s brand stories reflects these winning strategies. You’ll learn from high-profile leaders like Gillette, Levi’s, Starbucks, Alibaba, GlaxoSmith-Kline, and WeChat–and from great companies you’ll discover for the first time. Linking theory to practice, the authors offer expert guidance on attracting non-users, adapting products, aligning with local culture, optimizing channels, building brands, upscaling, strengthening relationships, and much more. You’ve never had an opportunity this enormous. Nobody has. Get it right–with the right advice, right from the trenches. Emerging markets offer the biggest growth opportunity in the history of capitalism. This practical guide offers a comprehensive, strategic marketing perspective tailored to these new markets. Leading experts demonstrate how companies can succeed both today and tomorrow, no matter what happens in the global economy. Breakout Strategies for Emerging Markets integrates insights drawn from the authors’ extensive primary research worldwide, their pioneering academic research and case development, practical consulting and management experience, and their conversations with industry leaders on several continents. You will learn about the experiences and actions of both local and global enterprises in industries ranging from consumer goods to entertainment, apparel to finance. The authors share new insights for attracting non-users by developing products, aligning with local traditions, upscaling, selecting channels, financing, brand messaging, using e-commerce, building relationships, and more. Discover how to... Convert non-users: Optimize acceptability, affordability, accessibility, and awareness Create “functional Fusion”: Adapt products to blend western and local elements Design “cultural fusion”: Embed local tradition, history, language, and taste Democratize the offer: Make products more affordable, financially and psychologically Upscale the offer: Upgrade choices and experiences across the income spectrum Manage reach: Get your channels and supply chains right Reinvent reach: Leverage revolutionary channels and payment methods Build brand identity: Align your brand essence with your customer’s experience Engage stakeholders: Serve the needs of every entity you touch

In our increasingly digital, mobile, and global world, the existing theories of business and economics have lost much of their appeal with the phenomenal rise of Chindia, the reality of Brexit, the turmoil caused by the Covid-19 pandemic, and the seismic shifting of the global center of gravity from west to east. In the area of innovation, the traditional thinking that a developed country, often the US, will come up with the next major innovation, launch at home first, and then take it to other markets does not ring true anymore. Similarly, the world where conglomerates go bargain-hunting for acquisitions in emerging markets has been turned upside-down. This book reveals and illustrates the Global Rule of Three phenomenon, which stipulates that in competitive markets only three companies (which the authors call "generalists") can dominate the market. All other players in the market are specialists. Further, whereas the financial performance of generalists improves as market share increases, specialist companies see a decrease in financial performance as their market share increases, as the latter are margin-driven companies. This theory powerfully captures the evolution of global markets and what executives must do to succeed. It is based on empirical analyses of hundreds of markets and industries in the US and globally. Competitive markets evolve in a predictable fashion across industries and geographies, where every industry goes through a similar lifecycle from beginning to end (or revitalization). From local to regional to national markets, the last stop in the evolution of markets is going global. The pattern is so consistent that it represents a distinct and natural market structure at every level. The authors offer strategies that generalists and specialist should follow to stay competitive as well as twelve expansion strategies for global companies from emerging markets. This book chronicles this global evolution and provides impactful managerial implications for executives and students of marketing and corporate strategy alike.

`Represents a new departure point for building better international business¿a superb analysis' Philip Kotler Kellogg Graduate School of Management `Every corporate CEO and their top executives should read this book. The ten international business strategies in Winning Worldwide are outstanding.' Don A. Hykes Managing Director A.T. Kearney Inc.

Lessons for attaining global competitiveness, one market at a time, from international business giant Nokia Winning Across Global Markets examines how 145-year-old Nokia grew from a paper mill in Finland to a multinational telecommunications leader. Why are Nokia's lessons critical for other companies and industries? While multinationals based in large countries benefit from inherent advantages--such as a home base that often accounts for 30 to 50 percent of their revenues--multinationals based in smaller countries such as Nokia, enjoy no such competitive edge. Nokia, in fact, generates less than 1% of its revenues in its home base. To such a company, global competitiveness is a matter of life and death. With unparalleled access to Nokia's leadership, Winning Across Global Markets reveals the remarkable story of Nokia's resilience and endurance. Shows how Nokia's flexibility and focus on its people and local markets drive its distinct global approach. Includes exclusive interviews with Nokia's senior executives and key partners Provides a roadmap for developing, capturing, and sustaining global advantage This book provides a roadmap for developing, capturing, and sustaining strategic global advantage in today's ever-changing world.