How will many Asian companies succeed beyond their protected national borders when, until now, they may have enjoyed life as the big fish—or indeed the only fish—in their home market? This book is an investigation from professors and practitioners whose credentials include positions at INSEAD (De Meyer and Williamson), a Geneva-based consulting firm (Richter), and the World Economic Forum (Mar, with a former directorship). All of them have written previously about globalization and international business; for this book they’ve added essays by other academics and managers, as well as CEOs of selected Asian firms.
Part One looks at internationalization issues that are unique to Asian firms. It also describes what the authors call “the globalization staircase,” their recommended way to build and sustain a global presence.
Part Two is an in-depth look at the experiences of selected Asian companies operating globally. One of these is the Kikkoman Group of soy sauce fame; from its humble beginnings several hundred years ago, Kikkoman now oversees numerous subsidiaries and affiliates with responsibility for over eight thousand foodstuffs.
Other companies highlighted in Part Two began to go international around 1990, such as SINGTEL (Singapore Telecommunications). Others only began globalizing in the past five years, like the Industrial and Commercial Bank of China. Each mini-analysis concludes with takeaways describing the successes and limitations of each company’s global development.
Part Three scrutinizes public policy and competitiveness, among other broad topics.
Managers of Asian companies setting out to globalize might like the managerial lessons shared here. By the same token, competitors in the West could learn a lot about what’s next. As a result, this book should appeal to managers around the world.
- Cynthia D. Churchwell