Global Meets Digital
Global Strategy for Digital Businesses - Digital Strategy for Global Businesses
- Available for pre-order on May 2, 2023. Item will ship after May 23, 2023
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Book Description
The confluence of global business and digital business, a shift long in the making, is now well underway. Of the important factors that account for this confluence, two in particular stand out: continuing advances in technology and innovation and the growing interconnectedness between the physical and digital worlds. These trends have major implications for corporate strategists.
In the global-digital world, products are of three kinds—physical, digital, and smart machines (products that are both physical and digital, and connected to the internet). The economics of each kind of products is distinct from that of the others, which has strategic implications for all kinds of businesses.
Aimed specifically at an executive/professional audience, Global Meets Digital derives its underpinnings from the actual practice of global and digital business. It is imperative for multinational enterprises (MNEs) to learn from the experiences of other MNEs how they do business and how they became successful (or unsuccessful) in their international and digital activities.
Multinational enterprises have existed for a very long time. So, why now? The context of business in the last several years has undergone significant change. 1) Growing interconnectedness between the physical and digital worlds; 2) accelerating growth of technologies, such as artificial intelligence (AI) and cloud computing, used not only by IT firms but increasingly by firms in practically all industries; 3) growing role of cross-border data flows versus international trade in goods –- a fact not often covered in books on strategy and international business; 4) emergence of millions of entrepreneurs and small and medium-sized businesses new to the global marketplace for goods and services; and 5) a changed political, economic, and social environment in many parts of the world including the U.S., several European countries, and Latin America -– all of which have important implications for business.
With several mini case studies and over 300 company examples, the book covers themes and cutting-edge issues like the paradox of globalization, digital disruption, disruptive business models, exponential technologies, Internet of Things, competition in digital markets, winner-take-all market dynamics, Industry 4.0, how to innovate, strategizing for the New Normal, and value creation and value capture in both B2C and B2B contexts.
Table of Contents
PART ONE: The Context
- Global Meets Digital
- Paradox of Globalization
- Digital Business: Technology at Warp Speed
- Entering Foreign Markets
- Global Strategy for Digital Businesses
- Digital Business Models
- Digital Strategy for Global B2C Businesses
- Digital Strategy for Global B2B Businesses
- Reinventing Innovation
- Reimagining Business
A global-digital world
Old is new again
Business in the 2020s:
Globalization
Technology on steroids
Competition—a changing paradigm
Global business in August 1914
When did globalization begin?
What’s behind the growth of globalization?
Multilateral institutions, governments, MNEs, ICTs
Globalization today
Reversal phenomena: Attitudes, innovation, FDI, outsourcing/offshoring
Globalization today vs. in earlier eras
The paradox
Crossing the chasm
Economics of digital products
Technologies: AI, robotics, 3D printing, cloud, blockchain, and 5G
Exponential characteristics of information technologies
Digital disruption
Value creation and value capture with technology
PART TWO: Strategy
Netflix goes abroad
Foreign market selection
The PRISM framework
Industry structure
Learning about foreign markets
Entering foreign markets
Exporting/importing, licensing, franchising, FDI, strategic alliances
Digitization-digitalization-digital transformation
Spotify – a case study
How Spotify creates and captures value
Spotify’s global strategy
Peloton – a case study
How Peloton creates and captures value
Peloton’s global strategy
Globalization-localization dilemma
Global strategy for digital businesses
Business models vs. operating models
Digital business models
Direct selling, subscription, freemium, outcome-based, razor and blade, data monetization, platform, ecosystem
Business models for professional services firms
Three kinds of businesses
What is digital strategy
Value creation – value capture
Competition and competitive advantage in digital markets
Digital strategy for global B2C businesses
Nestlé – a case study
Digital transformation at Nestlé
Nestlé’s digital strategy
The four industrial revolutions; Industry 4.0
How IoT (IIoT) changes manufacturing
Advantages of the IIoT
How KCMG benefits from the IIoT
Value creation - value capture framework for IoT
Bosch – a case study
Digital transformation at Bosch
Bosch Group’s digital strategy
InnoCentive reinvents innovation
How innovation happens
Serendipity
Invisible hand of market
Visible hand of management
How to innovate
The Build|Buy|Ally framework
Build: Innovation through internal development
Buy: Innovation through M&A
Ally: Innovation through alliances
Open innovation
Starbucks’ reinvention plan
The five megatrends
Strategizing for the new normal
Value creation and value capture
Globality
Competition’s new logic and logistics
Innovation’s new logistics
Disrupt/cannibalize yourself
The fourth industrial revolution
Disruptive business models
Exponential
Author(s)
Biography
Vinod Jain is an expert in global and digital strategy, Fulbright Scholar, award-winning professor, and author of an MBA textbook, Global Strategy, published by Routledge (New York and London, 2016). Vinod taught at the Rutgers Business School, Newark and New Brunswick, Nottingham University Business School China, and the Robert H. Smith School of Business, University of Maryland, College Park. At Maryland, he was also the Founding Director of the Center for International Business Education and Research (CIBER) and Academic Director of Smith School’s Executive MBA program in China. He has been a visiting/term professor at Aalto University, Finland, Copenhagen Business School, Denmark, Hult International Business School Shanghai, China, Indian Institute of Management Bangalore, India, and Polish American Management Center at University of Lodz, Poland.
In the past, Vinod worked with British and American multinationals for many years, including Macmillan Publishers (Vice President), Molins (Manager Coordination), and Coca-Cola (Marketing Research Executive). He has conducted over a hundred executive and academic seminars in Bahrain, Brazil, Canada, China, Europe, India, and the United States, and has been active on many boards and professional and trade associations.
Not a techie, Vinod is fascinated by and has flirted with digital strategy and digital business ever since the dotcom days. (He registered his first internet domain in 1998). For instance, in April-May 2000, he conducted a six-Saturday, executive seminar on e-Business Strategy. The same year, he designed and chaired an All-Academy Symposium on "Business Models in the New Economy" at Academy of Management’s annual, international conference in Toronto, Canada. The symposium attracted over 200 participants and had presenters from several universities, including Alabama, INSEAD, Oregon, Rutgers, Wharton, and a think tank in Canada. Since then, he has presented talks and seminars on global and digital strategy and once ran a digital business for a few years. In March and May 2022, he was invited by the Academy of Management to offer a webinar on digital strategy for its members.
Vinod’s articles and opinion pieces have appeared in The Washington Post, The Baltimore Sun, Mensa Bulletin, Economic Times and Mint (India's #1 and #2 business dailies), and other media. He has been honored by the Governors of both Ohio and Maryland for his services to international and internationalizing businesses in their states. He is a member of the Academy of Management, Academy of International Business, Mensa, and a former Board member of TiE-DC, the Washington D.C. chapter of TiE.org, one of the world’s largest associations of entrepreneurs and CEOs.
Vinod has a Ph.D. in Strategy and International Business from the University of Maryland, College Park, M.S. in Management from UCLA, and M.S. and B.S. (Hons.) in Statistics from the Indian Statistical Institute, Calcutta.
Personal Website: https://www.vinodjain.com
Blog: https://www.vinodjain.com/blog