Prof. E. Jaffe1 ON GLOBALIZATION על גלובליזציה Corporations without roots....
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Transcript of Prof. E. Jaffe1 ON GLOBALIZATION על גלובליזציה Corporations without roots....
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Prof. E. Jaffe 1
ON GLOBALIZATIONעל גלובליזציה
Corporations without roots.
תאגידים חסרי שורשים
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Prof. E. Jaffe 2
GLOBALIZATION IS CHANGE גלובליזציה מסמלת שינוי
Forces that impel individuals,
groups, and institutions to engage in similar forms of
behavior. (Rosenau, Current History, 1997)
גורמים אשר דוחפים אנשים קבוצות .ומוסדות לצורות התנהגות זהות
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Prof. E. Jaffe 3
FOUR TYPES OF CHANGEארבע סוגים של שינויים
Stretching of social, political & economic activities across political frontiers.
פרישה של פעולות חברתיות, פוליטיות ו - כלכליות מעבר גבולות.
Growing magnitude of interconnectedness of flows of trade, investment, etc.
הקף גובר של זרימות מתוקשרות של סחר, השקעות, וכו’.
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Prof. E. Jaffe 4
Evolution of world-wide systems of transport and communication.
התפתחות של מערכות תחבורה ו- תקשורת בכלהעולם.
Increasing intensity and velocity of global interactions .
.גידול בעוצמה ובמהירות של פעולות הדדיות
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Prof. E. Jaffe 5
TYPES OF GLOBALIZATIONסוגי גלובליזציה
ECONOMIC -Integration of economies, through trade and financial flows. Movement of labor and knowledge across international borders.
כלכלית - אינטגרציה של משקים באמצאותסחר ומימון. תנועות של כוח אדם ו-ידע מעבר גבולות.
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POLITICAL - Participation in international governmental organizations (IGOs); integration with regional IG networks (e.g., EU, Organization of American States).
פוליטית - שיתוף עםIGOs אינטגרציה עם ; .IGמרקמי
Organization of American וה - EU כמו ה - States.
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CULTURAL - Flows of science, concepts of liberalism, socialism, capitalism, etc.
,תרבותית - זרמי מדע, מוסגים כגון ליבראליזםסוציאליזם, קפיטליזם, וכו’.
ENVIRONMENTAL - Global warming; ozone depletion; production and reception of cross-border pollutants (e.g. acid rain).
סביבתית
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Prof. E. Jaffe 8
GROWTH OF TRADETRADE
גידול במסחר
CAPITAL FLOWS
זרימות הון
MIGRATION
הגירה (ניידות)
IT and the WEB
DIFFUSION OF TECHNOLOGY
נפיצות של טכנולוגיה
GLOBALIZATION
גלובליזציה
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Prof. E. Jaffe 9
BENEFIT versus COSTתועלת לעומת מחיר
BENEFITS Economic Growth Reduction of Poverty Improved Health, Life
Expectancy Spread of Knowledge Flexibility of
Production
COSTS Inequality Worker Displacement Risks of Banking &
Currency Crises Domination of Trade &
Production by TNCs Degradation of the
Environment Loss of Authority
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Prof. E. Jaffe 10
CONCEPTS OF GLOBALIZATION
GLOBAL INFRASTRUCTURE
תשתית גלובלית GLOBAL HARMONIZATION
הרמוניזציה גלובלית BORDERLESSNESS
בלי גבולות GLOBAL DIFFUSION
נפיצות גלובלית DISPERSION OF CORE COMPETENCIES
פיזור של יכולות תווך
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Prof. E. Jaffe 11
ENGINES OF GLOBALIZATION
TRANSNATIONAL CORPORATIONS TRANSNATIONAL MEDIA
ORGANIZATIONS INTERGOVERNMENTAL ORGANIZATIONS NON-GOVERNMENTAL ORGANIZATIONS
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INTERNATIONAL ACCOUNTING STANDARDSכללים חשבונאיים
International Accounting Standards Comm. ועדת הסטנדרטים החשבונאיים הבינלאומית קובץ כללים חשבונאיים בינלאומיים אחיד
Financial Accounting Standards Board (FASB)
מועצת הסטנדרטים החשבונאיים הפיננסיים
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Prof. E. Jaffe 13
EXAMPLE
Smith Kline Beecham (1993) $1.5 Billion Profits according to British Accounting Standards
$1.2 Billion Profits according to United States Accounting Standards
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HARMONY OF VISION?הרמוניה של חזון?
The Leaders of the world’s great business enterprises continue to differ in their most fundamental strategic visions. (Keller & Pauly, Current History, 1997)
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Prof. E. Jaffe 15
MULTINATIONAL STRATEGIES
AMERICAN - SHORT-TERM PAYOFFS GERMAN - FOCUS ON A NARROW
BAND OF INDUSTRIES IN WHICH THE BENEFITS OF NEW TECHNOLOGIES TEND TO BE DIFFUSED WIDELY.
JAPANESE - LONG-STANDING CORPORATE NETWORKS.
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Prof. E. Jaffe 16
GLOBALIZATION - THEN AND NOW“The World is a City” Karl Meyer Rothschild (1875)
The Workforce is less mobile today then in the 19th century.
Example: There was no need for passports and most people moved freely from one country to another. 60 million Europeans migrated to North and South America, Australia. In 1900, 14% of the American population were immigrants, compared to 8% today.
In the 1860s and 1870s, many goods were traded freely.
Example: 95% of German imports were customs free. According to the “Capital Mobility Index” of the IMF, the volume of capital movements in relation to GNP is less today than in the 1880s.
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YES, BUT...
19th Century trade was primarily in commodities, today it is primarily in goods and services.
19th Century capital movements were concentrated in the hands of small groups of wealthy people for long term investment.
Capital movements today are faster, but shorter term.
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WHAT IS A GLOBAL INDUSTRY??מה היא תעשייה גלובלית
“An industry in which there is some competitive advantage to integrated activities on a worldwide
basis.”
כאשר פעילות משולבת
במישור הבינלאומי תתרום
ליתרון תחרותי
Michael Porter
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THE MULTINATIONAL CORPORATION
A company with significant operations and market interests outside its home country.
Affiliated firms are linked by ties of common ownership.
The MNC draws on a common pool of resources.
Its affiliates are linked by a common strategic vision.
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GLOBAL INDUSTRY
One MNC’s entire worldwide system of product and market is positioned against a competing MNC(s).
Strategy is centralized. Response to local market needs where and
when necessary.
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Prof. E. Jaffe 21
TWO INDUSTRIES: TWO STRATEGIES
MULTIDOMESTIC INDUSTRY The MNC pursues separate strategies in each
of its foreign markets. Each overseas subsidiary is strategically
independent. MNC headquarters coordinates financial
controls and marketing worldwide. Each subsidiary is a profit center.
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Prof. E. Jaffe 22
SOME INDUSTRY EXAMPLES:
GLOBAL INDUSTRIES Caterpillar & Komatsu
(heavy construction equipment)
Timex, Seiko & Citizen (watches)
GE, Siemens & Mitsubishi (heavy electrical equipment)
MULTIDOMESTIC INDUSTRIES
P & G (household products)
Honeywell (controls) Alcoa (aluminum) General Foods
(branded foods)
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Prof. E. Jaffe 23
GLOBAL STRATEGY LEVERS
LLeevveerr MMuullttiiddoommeessttiiccSSttrraatteeggyy
GGlloobbaall SSttrraatteeggyy
MMaarrkkeett PPaarrttiicciippaattiioonn NNoo PPaarrttiiccuullaarr PPaatttteerrnn SSiiggnniiffiiccaanntt SShhaarree iinn MMaajjoorrMMaarrkkeettss
PPrroodduucctt OOffffeerriinngg FFuullllyy CCuussttoommiizzeedd FFuullllyy SSttaannddaarrddiizzeedd
LLooccaattiioonn ooff VVaalluuee--AAddddeeddAAccttiivviittiieess
AAllll AAccttiivviittiieess iinn EEaacchhCCoouunnttrryy
CCoonncceennttrraatteedd
MMaarrkkeettiinngg AApppprrooaacchh LLooccaall UUnniiffoorrmm
CCoommppeettiittiivvee MMoovveess SSttaanndd--aalloonnee bbyyCCoouunnttrryy
IInntteeggrraatteedd
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Prof. E. Jaffe 24
ORGANIZATION FEATURES FOR TYPES OF GEOGRAPHIC BUSINESSES
GEOGRAPHICSCOPE
ORGANIZATIONSTRUCTURE
MANAGEMENTPROCESSES
PEOPLE CULTURE
GLOBAL CENTRALIZED GLOBALAUTHORITY.NODOMESTIC-INTERNATIONALSPLIT.STRONG BUSINESSDIMENSION RELATIVE TOGEOGRAPHY AND FUNCTION.
EXTENSIVECOORDINATIONPROCESSES.GLOBAL SHARING OFTECHNOLOGY.GLOBAL STRATEGYINFORMATIONSYSTEM.GLOBAL STRATEGICPLANNING ANDCONTROL.
MULTICOUNTRYCAREERS.FOREIGNNATIONALS INHOME AND THIRDCOUNTRIES.EXTENSIVETRAVEL.
GLOBAL IDENTITY.INTERDEPENDENCE.
MULTILOCAL DISPERSED NATIONALAUTHORITY.NODOMESTIC-INTERNATIONALSPLIT.STRONG GEOGRAPHICDIMENSION RELATIVE TOBUSINESS AND FUNCTION.
TRANSFER OFTECHNOLOGY FROMHEADQUARTERS OUT.NATIONALINFORMATIONSYSTEMS.NATIONAL STRATEGICPLANNING ANDCONTROL.
PROFESSIONALEXPATRIATES.NATIONALS RUNLOCALBUSINESSES.LIMITED TRAVEL.
MULTINATIONALIDENTITY.AUTONOMY.
EXPORT-BASED
CENTRALIZED HOMECOUNTRY CONTROL.SEPARATE DOMESTIC ANDINTERNATIONAL DIVISIONS.MAY HAVE STRONGFUNCTIONAL DIMENSIONS.
DIRECTION NOTCOORDINATION.ONE-WAYINFORMATION FLOWTO HEADQUARTERS.NO TECHNOLOGYTRANSFER.
HOME COUNTRYNATIONALS RUNLOCALMARKETINGSUBSIDIARIES.
HOME COUNTRYCULTURE.
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Prof. E. Jaffe 25
INTEGRATION - RESPONSIVENESS GRID
High
Integrated Product Strategy,Worldwide Business Management
Product Emphasis
Multifocal Strategy,and Organization
Area Emphasis
Locally ResponsiveStrategy, AutonomousNational Subsidiaries
LowLow High
Need forIntegration
Need for Responsiveness
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Prof. E. Jaffe 26
Sales
increasing sales
increased market reachbroadens volume base
falling costs and prices,as a result of globalizat-
ion, improve sales
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Prof. E. Jaffe 27
Margins
decreasingdecreasingcostscosts
++increasingincreasing
salessaleshigherhigher
marginsmargins
expansion into “virgin markets” allows firmsexpansion into “virgin markets” allows firmsto set higher margins to take advantage ofto set higher margins to take advantage ofthe imbalance in supply and demandthe imbalance in supply and demand
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Prof. E. Jaffe 28
How Globalization Affects Costs, Sales and Margins
competitive pressuredrives firms to cut costs
decreasingcosts
Costs
exposure to best practices improvesproductivity
productivity gains andthe capture of R&D
spillover result fromoperating in “lead country”
scale economies via global participationspread R&D costs over large volume base
synergetic gains result from theconsolidation of acquired businessesoverseas in a globalization initiative
catering for demandingclients in differentjurisdictions
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ANALYSIS FOR STRATEGY DEVELOPMENT
Global BusinessesElectronic Components, Medical
Multifocal BusinessesTV, Ophthalmic Products
Locally ResponsiveBusinesssesCorningware, labware
High
Low
Low HighLocal
Global