Globalization is not what it was even a decade ago. What links the world together has changed fundamentally — and for many companies, succeeding in this new operating environment will require rethinking many past decisions and assumptions. The 20th-century version of globalization was defined by rapidly growing trade in goods, as major multinationals created supply chains that spanned the world. Today growth in global trade has flattened, and it looks unlikely to regain its previous peak relative to world GDP anytime soon. The same is true for cross-border financial flows.
Fouad Bendris’s insight:
Rethink your global footprint and organizational structures. Multinationals once expanded by building a replica of their entire firm in each country where they operated.
Source:: Strategy & Governance