being a global player - İstanbul sanayi odası · being a global player george s. yip professor of...
TRANSCRIPT
![Page 1: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/1.jpg)
Being a Global Player
George S. Yip Professor of Management
Co-Director, CEIBS Centre on China Innovation China Europe International Business School
c. George S. Yip
![Page 2: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/2.jpg)
Foreign Companies Are Coming to Turkey
2 c. George S. Yip
![Page 3: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/3.jpg)
Turkish Companies Need to Go Global
3 c. George S. Yip
![Page 4: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/4.jpg)
Top 10 Export Categories
2011–USD millions
Vehicles other than Railway 15,805
Machineries, Mechanical Appliances 11,563
Iron & Steel 11,226
Electrical Machinery & Equipment 8,882
Articles of Apparel and Clothing Accessories Knitted 8,396
Mineral fuels, oils, distillation products, etc. 6,539
Articles of Iron & Steel 5,759
Articles of Apparel and Clothing Accessories Not Knitted 5,129
Plastics and Articles Thereof 4,581
Edible Fruits, nuts, etc. 3.910
Source : Ministry of Economy
![Page 5: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/5.jpg)
Turkey’s Export Mix
Source: MIT Harvard Economic Complexity Laboratory 5
![Page 6: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/6.jpg)
China’s Export Mix
George S. Yip 6
![Page 7: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/7.jpg)
Germany’s Export Mix
George S. Yip 7
![Page 8: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/8.jpg)
Turkey’s vs. Germany’s Export Mix
Source: MIT Harvard Economic Complexity Laboratory 8
![Page 9: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/9.jpg)
Some widely recognized brands
are owned by Turkish companies.
Godiva (Ülker)
Grundig (Beko)
Arctic (Arçelik)
Blomberg (Arçelik)
Turkish-Owned Brands
![Page 10: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/10.jpg)
What Strategy to Use?
Strategic Objective
Business Model
10 c. George S. Yip
![Page 11: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/11.jpg)
Why Does Strategy Matter?
Effective strategy gets you better
performance with fewer resources.
11 c. George S. Yip
![Page 12: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/12.jpg)
Why Is Strategy Difficult?
If managers were going to do it anyway,
you would not need a strategy.
12 c. George S. Yip
![Page 13: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/13.jpg)
A General Definition of Strategy
A planned, thought-out, perhaps indirect, way of achieving an objective.
Typically in contrast to a direct approach that takes the shortest, most costly path.
13 c. George S. Yip
![Page 14: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/14.jpg)
Examples of Strategy
Objective : overtake the market leader in terms of market share Non-strategic approach : outspend in promotion Strategic approach : develop a sequence of multiple moves, some indirect, which in total cost less than the direct approach and has a higher chance of success.
14 c. George S. Yip
![Page 15: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/15.jpg)
Business Model as the Base
How a company configures itself to do business and make money.
Operational Improvement
Business Model
15 c. George S. Yip
![Page 16: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/16.jpg)
SCOPE
DIFFERENTIATION
ORGANIZATION
Nature of Inputs
Nature of Outputs
Channels How
Transform Inputs
Nature of Customers
Elements of a Business Model
VALUE PROPOSITION
George Yip, Using Strategy to Change Your Business Model, Business Strategy Review, 2004.
16 George S. Yip
![Page 17: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/17.jpg)
National Context Issues
• 1. How sensitive is your business to national context?
• e.g., general merchandise retailing versus speciality retailing.
• 2. What national context issues are most relevant to your business model?
17 c. George S. Yip
![Page 18: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/18.jpg)
Two Key Questions • Can you adapt your business model?
• Can you transfer your competitive advantages?
Business
Model
Bases of
Competitive
Advantage
Distance
Climate/environment
Economics
Demographics
Culture
Language
Role of government
Trade policies
Stage of market development
Technology
Technical Standards
Legal
Currency/financing
Channels of distribution
Marketing support services/information
Competitive structure
18 c. S. Yip
![Page 19: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/19.jpg)
The Hexagon of Competitive Advantage
Customer Market
Product / Service
Assets / Resources
Business System / Value Chain
Scale / Scope
Partners
COMPETITIVE ADVANTAGE
19 c. George S. Yip
![Page 20: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/20.jpg)
Going International: Customer Market
• Follow domestic customer
• Use customers as reference
• Use standards as springboard
20 George S. Yip
![Page 21: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/21.jpg)
The Pyramid of International Competitive Advantage
Population Size
Developing countries
Developed
Countries
Wealth/
Sophistication
21 George S. Yip
![Page 22: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/22.jpg)
Going International: Products/Services
• Unique or superior products
• Ability to provide at all
• Adapt for local markets
• Offer global standard
22 George S. Yip
![Page 23: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/23.jpg)
Going International: Business Systems/Value Chains
• Export from domestic business system
• Relocate some activities
– for specific country advantage
– to build regional/global advantage
23 George S. Yip
![Page 24: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/24.jpg)
Going International: Assets / Resources
• Leverage/transfer existing/domestic assets and resources
• Add/substitute local assets/resources
• Directional effect
24 George S. Yip
![Page 25: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/25.jpg)
Going International: Partners
• Follow your partners
• Have partners follow you
• Find new, local partners
25 George S. Yip
![Page 26: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/26.jpg)
Going International: Economies of Scale
• Can you export from home/other base?
• Can new countries contribute to scale in existing bases?
• Are new countries’ markets large enough to support minimum efficient scale operations?
26 George S. Yip
![Page 27: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/27.jpg)
Positioning for Emerging Market Companies
Dodger Contender
Defender Extender
customised to home market transferable abroad
high
low
Competitive Assets
Pre
ssure
to G
lobaliz
e in the Industr
y
Source: N. Dawar and T. Frost, “Competing with Giants”, Harvard Business Review, March-April 1999
27 George S. Yip
![Page 28: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/28.jpg)
Defender
• Focuses on leveraging local assets in market segments where multinationals are weak.
– Examples:
– Shanghai Jahwa (China, cosmetics)
– Grupo Industrial Bimbo (Mexico, food)
– Arvind Mills (India, jeans kits) Source: N. Dawar and T. Frost, “Competing with Giants”,
Harvard Business Review, March-April 1999
28 George S. Yip
![Page 29: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/29.jpg)
Extender
Focuses on expanding into markets similar to those of the home base, using competencies developed at home.
– Examples:
– Jollibee foods (Philippines, fast food)
– Televisa (Mexico, media)
– Asian Paints (India) Source: N. Dawar and T. Frost, “Competing with Giants”,
Harvard Business Review, March-April 1999
29 George S. Yip
![Page 30: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/30.jpg)
Dodger
Focuses on a locally oriented link in the value chain, enters a joint venture, or sells out to a multinational.
– Examples:
– Skoda (Czechoslovakia, cars)
– Vist (Russia, PCs)
– Software companies in China after Microsoft’s entry
– Manufacturing companies in Mexico Source: N. Dawar and T. Frost, “Competing with Giants”,
Harvard Business Review, March-April 1999
30 George S. Yip
![Page 31: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/31.jpg)
Contender
Focuses on upgrading capabilities and resources to match multinationals globally, often by keeping to niche markets.
Examples:
– Indah Kiat Pulp & Paper (Indonesia)
– Sundram Fasteners (India, GM’s supply network)
– Raba (Hungary, heavy-duty axles)
– Cemex (Mexico, cement)
– Sonae Industria (Portugal, wood panels)
– Four Dimensions (China, special purpose vehicles)
Source: N. Dawar and T. Frost, “Competing with Giants”, Harvard Business Review, March-April 1999; and G. Yip
31 George S. Yip
![Page 32: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/32.jpg)
China’s cost innovation wedge
Manufacturing
Branding/R&D
Design/engineering/
distribution
Branding/R&D
Design/engineering/
distribution
Manufacturing
In the 1990`s, the cost
innovation wedge penetrated
only manufacturing
By 2005, the cost innovation
wedge penetrated design,
engineering, and even
branding and R&D
Source: P. Williamson and M. Zeng, Dragons at your Door: How Chinese Cost Innovation is Disrupting Global Competition. 2007
32 George S. Yip
![Page 33: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/33.jpg)
China’s margin pressure and the cost revolution
R&D Manufacturing Branding/service
Margin
First wave attack
from Chinese
firms
Second wave
attack from
Chinese firms
Upstream Downstream
Activities
Source: P. Williamson and M. Zeng, Dragons at your Door: How Chinese Cost Innovation is Disrupting Global Competition. 2007
33 George S. Yip
![Page 34: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/34.jpg)
Advance of the Chinese Frontier
Impediments
to cost
Innovation
Toys
Shoes Consumer electronics
Clothing Home appliances
Personal
computers
Frontier
1995 Auto
parts
Telecoms
equipments
Mobile
handset
Machinery
Frontier
2005
High
Low
Wide Narrow
Global gateways
Auto assembly
Petrochemicals,
medicine,
aircraft
Retailing,
banking/
FMCG
Source: P. Williamson and M. Zeng, Dragons at your Door: How Chinese Cost Innovation is Disrupting Global Competition. 2007
34 George S. Yip
![Page 35: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/35.jpg)
•35
Innovation in Large Companies?
Centre on China Innovation
35
![Page 36: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/36.jpg)
The capacity to innovate is only as strong as the weakest link in the innovation
value chain
Bottlenecks at any stage can impede the capacity to innovate
Idea generation Development Diffusion
The GUI and mouse were invented by Xerox, but were not
developed into commercial products
Sony tried to maintain control over the Betamax standard,
allowing JVC’s VHS format to dominate video recording
Source: Capgemini C4 Lab analysis. Company Websites
Development
Diffusion
Example Bottleneck Description
36
![Page 37: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/37.jpg)
For most organizations, there are challenges at every stage
Source: Capgemini C4 Lab analysis.
Large employee bases dedicated to operations and routine tasks
Little collaboration across units
Current organization priorities
Expectation for immediate results and returns
Legacy nature of services
Focus on markets within direct reach
Employees cannot generate a large number of good ideas
Lack of diverse perspectives on ideas generated within a unit
Selection criteria may eliminate potentially good ideas
Limited tolerance for experimentation and failure of new products
Diffusion limited by geographic markets and delivery platforms
Ch
alle
nge
s Im
plic
atio
ns
Many Factors May Impede Innovation
Idea generation Conversion Diffusion
37
![Page 38: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/38.jpg)
Key Elements of Context
Clear
Boundaries
Space to
Act
Support
from Above
Overall Direction
“Stretch Goal”
Source: Julian Birkinshaw
38
![Page 39: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/39.jpg)
The Other Side of Innovation - Innovation’s Missing Link
Ongoing operations
Strategy
Organizing and planning
Execution
Innovation
Committing to an innovative idea
Making innovation happen
Govindarajan, V and Trimble, C (2010). The other side of Innovation-solving the execution challenge, p. 16. Boston:
HBR Press. an and Trimble, The Other Side of Innovation. Harvard Business Review Press, 2010
The need to
reassess
organizing and
planning is often
overlooked.
39
![Page 40: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/40.jpg)
40
The Other Side of Innovation - Organizing An Innovation
Initiative
Project team= Dedicated Team + Shared Staff The Dedicated Team is custom-built for the initiative The Shared Staff retains its existing responsibilities and supports the initiative.
Govindarajan, V and Trimble, C (2010). The other side of Innovation-solving the execution challenge, p. 28. Boston:
HBR Press.
![Page 41: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/41.jpg)
41
The work of the innovation initiative should flow in parallel
with ongoing operations.
Govindarajan, V and Trimble, C (2010). The other side of Innovation-solving the execution challenge, p. 39. Boston:
HBR Press. Press, 2010
![Page 42: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/42.jpg)
42 Centre on China Innovation
The partnership, not just the Dedicated Team, executes the initiative
Govindarajan, V and Trimble, C (2010). The other side of Innovation-solving the execution challenge, p. 48. Boston:
HBR Press. an and Trimble, The Other Side of Innovation. Harvard Business Review Press, 2010
![Page 43: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/43.jpg)
Great Innovators
Thomas Edison – innovation in technology
Steve Wozniak – innovation in products
Jack Welch – innovation in management
Albert Einstein – innovation in science
43
![Page 44: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/44.jpg)
The Most Successful Business Innovator of All Time? Who Will be Turkey’s Steve Jobs?
44
![Page 45: Being a Global Player - İstanbul Sanayi Odası · Being a Global Player George S. Yip Professor of Management Co-Director, CEIBS Centre on China Innovation China Europe International](https://reader030.vdocument.in/reader030/viewer/2022041005/5eaaae845ad42318b87361c1/html5/thumbnails/45.jpg)
The Global Company
The global company does not have to be everywhere,
but it has the capability to go anywhere,
deploy any assets, and access any resources.
And it maximizes profits on a global basis.
45 George S. Yip