Global Meets Digital: Global Strategy for Digital Businesses – Digital Strategy for Global Businesses (Routledge, June 2023)
By Vinod K. Jain
The world today is at the intersection of two megatrends – Globalization and Digitalization – a business revolution unfolding in real time. Global Meets Digital captures the many nuances of this revolution succinctly, including its impact on our lives and business. An immediate implication of this revolution is that the economic principles that underpinned business and strategy for hundreds of years, such as diminishing returns to scale and resource scarcity, are no longer valid for a large and growing number of products and services.
With several mini case studies and over 100 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. The book derives its underpinnings from the practice of global and digital business, while theory remains in the background.
Table of Contents
PART ONE: The Context
1. Global Meets Digital
A global-digital world
Old is new again
Business in the 2020s:
Globalization
Technology on steroids
Competition-a changing paradigm
2. Paradox of Globalization
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
3. Digital Business: Technology at Warp Speed
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
4. Entering Foreign Markets
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
5. Global Strategy for Digital Businesses
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
6. Digital Business Models
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
7. Digital Strategy for Global B2C Businesses
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
8. Digital Strategy for Global B2B Businesses
The four industrial revolutions; Industry 4.0
How Industrial 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
9. Reinventing Innovation
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
10. Reimagining Business
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
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Vinod Jain is an expert in global and digital strategy, award-winning professor, Fulbright Scholar, and author of an MBA textbook on Global Strategy. He 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. In the past, he worked as a middle- and senior-level executive with American and British multinationals. 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. http://www.vinodjain.com.