Redefining global strategy : crossing borders in a world where differences still matter /

For businesses competing in a global economy, the essential dilemma is whether to offer a standard product for the worldwide market or to customize the product for each specific market. The debate has raged on over the years, and Thomas Friedman's The World Is Flat (CH, Mar'06, 43-4141) steered the debate more toward standardization. Taking an opposite view, Ghemawat (Harvard Business School) presents s strong case for companies to pay heed to the singularities of each market. Take the case of Google in Russia. In 2006, it had only a 28 percent share of the market, with a local firm, Yandex, having a 64 percent share. The main reason, Ghemawat identifies, is the Russian language's linguistic complexities. In addition, Google's local competitors had adapted their search engine to the local market. Google has finally decided to set up a physical presence in Russia to shore up its business. A plethora of useful tools--the CAGE distance framework and the ADDING value scorecard, among others--make this book immensely practical. The second part offers strategies to adapt to local conditions. Buoyed by strong empirical research, Ghemawat's book should help executives navigate the turbulent waters of global competition. Summing Up: Recommended. Faculty, researchers, and professionals. R. Subramanian Montclair State University