Abstract
We can no longer discuss globalization in the future tense. Firms now operate in a global competitive landscape, one that is highly dynamic and continuously changing. Herein, we examine this global landscape in its current form, and the changes we expect to occur over the next few decades. Based on these analyses, we identify firm strategies that are necessary to be successful in this challenging competitive landscape. Certain real-life scenarios best depict the global environment in which firms now operate. For example, consider the impact of changing stock market valuations across the world. A year or so ago, the Shanghai stock exchange experienced a significant drop in value; in turn, this change in value reverberated through other stock exchanges around the globe and, in particular, that of the U.S. (Mu, 2007). More recently, China has taken actions to stem the inflation in its economy, and curtail its stock crisis related to concerns about inflation and the potential ripple effects of the economic slowdown in the U.S. (Barboza, 2008). Of course, China is also affected by the change in the valuation of its currency relative to that of the U.S. dollar. The value of the U.S. dollar has been falling for a considerable period of time (Kritzer, 2007).
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call