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Globalization. What exactly does it mean for ordinary citizens? Drawing on their extensive experience of internationalisation and globalisation in practice, the authors focus on the obstacles faced by companies making the transition from local champions to global masters and provide a simple but structured framework to think about how it will affect your business. Examining the mistakes and successes of real companies, the book links questions regarding if and how companies should internationalize, the opportunities, challenges and threats and the strategic framework and tools for thinking about internationalization.
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From Local Champions to Global Masters A strategic perspective on managing internationalization
Paul Verdin and Nick Van Heck
From Local Champions to Global Masters
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From Local Champions to Global Masters A strategic perspective on managing internationalization by
Paul Verdin and Nick Van Heck
© Paul Verdin and Nick Van Heck 2001 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1T 4LP. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their right to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2001 by PALGRAVE Houndmills, Basingstoke, Hampshire RG21 6XS and 175 Fifth Avenue, New York, N.Y. 10010 Companies and representatives throughout the world PALGRAVE is the new global academic imprint of St. Martin’s Press LLC Scholarly and Reference Division and Palgrave Publishers Ltd (formerly Macmillan Press Ltd). ISBN 0–333–94730–4 hardcover This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. A catalogue record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Verdin, Paul. From local champions to global masters : a strategic perspective on managing internationalization / Paul Verdin, Nick Van Heck. p. cm. Includes bibliographical references and index. ISBN 0–333–94730–4 1. International business enterprises—Management. 2. Globalization—Economic aspects. 3. Competition, International. I. Heck, Nick Van. II. Title. HD62.4 . V467 2001 658'.049—dc21 2001036099 Editing and origination by Aardvark Editorial, Mendham, Suffolk 10 9 8 7 6 5 4 3 2 1 10 09 08 07 06 05 04 03 02 01 Printed and bound in Great Britain by Creative Print & Design (Wales), Ebbw Vale
To Charlotte, Emily and Anne(-Marie) who, in the midst of globalisation turbulence, have always helped me, each in their own way, to keep my feet on the ground P.V.
To my local champions, Guus and Marijke N.V.H.
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Contents
List of Figures
ix
Preface
xi
Acknowledgements Introduction
Beyond Globalization and its Myths The myth of globalization Beyond the myths The position of this book The structure of this book
Section 1: Chapter 1
Chapter 2
xvi 1 3 9 10 14
On the Benefits of Internationalization
19
Internationalization: The Only Way to Go?
23
We have to internationalize or die Internationalization is strategic Bigger is better … only a few players will survive We have to take positions now, it is now or