dbfm course outline
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Prof. Sougata Ray Page 1
Indian Institute of Management Calcutta
CEMS MIM Program
Term V (2016-17)
Course: Global Strategic Management
1. Introduction
The world of business has been witnessing two major shifts in the new millennium. First, with
the saturation of developed economies and the emergence of burgeoning middle class in
developing economies the battle place for global leadership in business has been rapidly shifting
towards emerging markets. This has also given rise to an acute need for global managers from
developed economies with requisite knowledge and skills and most importantly with a global
outlook and mindset to provide leadership in integrating businesses across developed and
emerging economies. Second, with the emergence of a vast pool of talented and educated
knowledge workers riding on the demographic shifts towards more young population,
internationalizing firms from the emerging economies like China and India (often called the
emerging multinationals or EMNCs) show immense potential to be at the fore front of global
business leadership in the foreseeable future. This has also given rise to an acute need for global
managers from these economies with requisite knowledge and skills and most importantly with a
global aspiration, outlook and mindset to provide leadership in managing cross border
operations.
2. Objectives
This course derives its logic from the increasing globalization of business and seeks to develop
concepts and tools for designing and implementing effective strategies in the rapidly changing
global business environment. The course will build on the concepts and issues raised in the core
strategic management course. Firms need to manage the tension between two opposing forces in
cross border-strategy: On the one hand, as globalization has been increasing over time, strategic
opportunities and challenges are no longer isolated within national borders. On the other hand,
important differences still persist across countries – in terms of business systems, local market
opportunities and challenges, locational advantages/disadvantages for competing globally, etc.
Recognizing this tension, the course will focus on the geographic element of a company‟s
strategy. We will study MNCs in the context of both developed markets and emerging
economies.
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Our emphasis will be on understanding strategic issues that managers of MNCs face, and on
applying tools and frameworks that help address these issues. In particular, the course objectives
are as follows:
To challenge you to think critically about various facets of globalization of business and
dynamics of global competition.
To familiarize you with the problems and perspectives of doing business across national
boundaries.
To develop an understanding of conceptual and managerial motives, issues and intricacies in
foreign market entry and management of cross border operations;
To familiarize you with some unique organizational challenges in a multinational corporation
and how strategy gets formed in such settings;
To foster an appreciation of the external forces, ethical concerns and human values that
influence and shape the business manager‟s job in the global context.
To assist you in acquiring the skills necessary to analyze, assess, design and implement
business strategies and programs that transcend national boundaries.
3. Course Pedagogy
To capture the pragmatic, action-oriented nature of a manager‟s job involved in international
business, we shall primarily use the case method of teaching, and supplement the case
discussions with readings, lectures, role plays or other inter-active exercises, as necessary. The
skills this course seeks to develop can be sharpened only through practice. This calls for
exposing you to the "real world" in the classroom! The case method has been found to be the
most suitable pedagogical device in this regard. It enables one to simulate, as closely as is
feasible, the "real world" in the class room. The simulation is complete and importantly effective
only when you come fully prepared to the class. Case and reading material are assigned for each
day. It is mandatory that all participants will read and thoroughly analyse the case/reading before
coming to the class. If a trade off has to be made for some reasons, it has to be made in favour of
the case assigned. Thus the onus for deriving maximum value from this course lies as much with
you as with the instructor! Your central goal should be to develop your own personal synthesis
and approach for identifying and addressing key strategic issues facing a company in
international business.
The participants are not unfamiliar with the case method. Nevertheless it will be worthwhile to
reemphasize here "what goes into a case preparation." Good Case preparation requires you to
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Prof. Sougata Ray Page 3
mentally "get inside" the case. Do not approach a case as you would an article in a magazine.
You are not an observer. You are a participant in the decision process. Put yourselves in the
shoes of the decision maker. Feel the excitement/the challenges/the frustrations he/she feels with
respect of data limitations, trade-offs, limited resources, political conflicts or whatever. While in
class share your ideas with others as we work jointly to resolve the issues. Argue your case
cogently. Seek support for your arguments from the case facts and where data is missing make
reasonable assumptions (please do inform the rest of us in the class about the assumptions you
have made!). Do note that a real business environment does not generally pose clear questions or
answers. Managers rarely know whether they have made the “right” strategic decisions. Strategy
cases simulate this ambiguity. As such, there are no correct solutions to the cases that you will
undertake to analyze and the instructor will offer none, although he may provide his opinion
about your logic. Therefore, the most important aspect of this course is the quality of your
questions and answers, and the quality of your thought processes. Also, your ability to
communicate your logic and respond to questions about your analyses and recommendations is
important.
For effective learning it is strongly recommended that you discuss each day‟s case in small study
group and come to the class prepared with your own specific recommendations/conclusions. The
pre-class group discussion would provide you the opportunities to debate the issues and sharpen
your arguments even before you step into the class. Also, discussion in your group after the class
for consolidating the learning of the day would be very useful.
4. Instructor
Prof. Sougata Ray is the primary instructor for the course. His Office (B – 307) is located at the
Second Floor of the B Block. He is available on call at EXT. 797 (O) / 290 (R), +919830045882
and on e-mail at sougata@iimcal.ac.in. For helping you further your learning, he would be
available for discussions with prior appointment. Please send a copy of all your electronic
submissions to his mail id.
5. Evaluation Scheme
The overall grade in the course will be much influenced by how much a participant has learned
through daily preparation for the class, from the class room discussions and post class reflection.
Individual assignments, class participation, presentations, and an end term examination will be
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Prof. Sougata Ray Page 4
the elements used for evaluating the student‟s performance in the course. The course grade will
be based on the following:
Component Weightage
Class Presence & Participation 20%
Group Assignment, Project & Presentations 45%
End Term Examination 35%
5.1 Class Presence & Participation
Your presence in the class is vital to the course learning. Accordingly I shall reward attendance
by a maximum of 10 points. Ability to present one's ideas concisely and persuasively and to
respond effectively to those of others is a key success factor in any managerial and leadership
position. One of the goals of this course is to help you sharpen that ability. Accordingly, I expect
you to effectively participate in the class – analyze, comment, question, discuss. Please
remember that we are all learners as well as facilitators to one another‟s learning. Participation
enables you to learn from your colleagues and to help them learn from you - that is what the
discussion based pedagogy is all about. I trust that you will come with an open mind to learn and
to accept new perspectives. Irrespective of our experience, there are always new things to learn. I
strongly encourage, value and reward effective participation. I have observed that students
typically tend to under-estimate, rather than overestimate, the worth of what they have to say. If
you are ever in doubt, please speak up instead of keeping quiet. I also expect the class to help
deal with people who monopolize the discussion without contributing to the learning process of
others. Please remember that at the end of the course individually all of you have to provide
me a consolidated letter grade (A+ to F) evaluating the contribution made by each of your
fellow students in the course. The grade for class participation should be based on both quality
and frequency of contribution to the class.
If for some reason you are not fully prepared on a particular day, let me know before class so that
we do not embarrass you inadvertently. If you must miss a class, please let us know in advance
so that your absence will not be unexplained.
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5.2 Group Assignment, Project and Presentations
Group work is of utmost importance in the course, which gets reflected in the weightage given to
this component in the course evaluation. You will be a part of a self-assigned learning team,
comprising 3-4 students with more than one nationality and adequately diverse in terms of
demographics, skills and experiences. Each group will name a group leader who will be the
group-professor liaison and will also be responsible for calling to my attention any problems
within the group. As a part of the group assignment each group has to maintain a class journal
and submit it electronically at the end of every week. The journal should carry a commentary on
every session (not more than 5 pages) that must include a pre class decision sheet providing the
analysis of the discussion questions given for the case to be discussed in class, the salient
concepts and issues discussed in the class and the key learning from the session. The final
submission should also have a concluding section on the overall learning (conceptual, analytical
and experiential) from the entire course. Each student group will be asked to make presentation
on at least one pre-assigned case / reading for a session. The presentations should be no more
than 20 minutes duration. The guideline questions given in the detailed session plan later would
help you prepare for the case presentation. For preparing for the presentation of the assigned
reading please read through the article critically with a view to answer the following four
questions:
• What are the core ideas presented in the article?
• What is your assessment of the validity and relevance of these ideas?
• What is the implication of these ideas – to a business professional?
Group Project
The group project will involve detailed analysis of international expansion of an emerging
economy company going global or any other multinational company‟s business in emerging
markets. Alternatively, the project can involve evaluation of opportunities and challenges in
doing business in a promising foreign market. The project will require you to do the following:
1. Identify and pick international expansion of a company OR strategic responses of an
important subsidiary of an MNC facing a significant challenge OR a promising foreign
market that your group finds most interesting. Some of the sources of such international
expansion strategies or subsidiary strategies are announcements by senior managers of
organizations as reported in business news papers, business magazines, electronic media and
annual financial reports of organizations. You can refer to Ruchir Sharma‟s Breakout Nations
for identifying promising foreign markets.
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2. Once your group has identified the topic and/or the company, submit a one-page project
proposal by the end of the second week.
3. Brief feedback shall be given to you on your project proposal, after which you can freeze the
plan and start working on the project.
4. Extensive collection of secondary data is expected and primary data collection is encouraged.
Even if you do not have access to managers of the organization, you will be able to obtain
information from other stakeholders such as dealers, customers, shareholders, analysts,
industry experts, etc.
5. You will submit a project report that identifies and outlines the key internationalization
challenges (for promising foreign market project – business issues and challenges likely to be
faced by a company of your choice for doing business in that market) and your
recommendations for a successful implementation (Not more than 20 pages of double spaced
text and 10 pages of supportive documentation).
We will be happy to assist you in any way possible to help maximize your learning from the
project and encourage you to interact with me on your projects as often as you like.
6. Course Feedback
I give a lot of importance to feedback from students. Instead of waiting for one feedback at the end
of the course, I would rather prefer feedback on every session. This feedback should ideally cover
at least (a) content, (b) mode of class proceedings, and (c) overall effectiveness / learning
value. Other comments on the session are also welcome. Please e-mail your feedback to me.
7. Reference Books & Journals
Cases and Readings:
The course pack will include all cases and reading materials for the course. In addition, short
videos may be used in the class to illustrate or strengthen some of the conceptual ideas discussed.
Recommended Reference Books:
Following are some of the books available in our library that you may refer for additional
knowledge and understanding other than the readings and cases given in the course package.
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Collis, D. (2014). International Strategy. Willey.
Ghemawat, P. (2008). Redefining Global Strategy – Crossing Borders in a World Where
Differences Still Matter, Harvard Business School Press, Boston.
Ghemawat, P. (2013). World 3.0 - Global Prosperity and How to Achieve It. Harvard Business
School Press, Boston.
Hill, Charles, W.L. (2008). Global Business Today, McGraw-Hill Irwin, New York.
Hill, C.W.L. (2010). International Business Tata McGraw-Hill (14th
Edition).
Christopher A. Bartlett and Sumantra Ghoshal. Transnational Management : Text, Cases, and
Readings in Cross-border Management (4th ed.) / Boston : Irwin/McGraw Hill, 2005
Sharma, Ruchir (2012). Breakout Nations: In Search of the Next Economic Miracles, Penguin.
Tarun Khanna and Krishna Palepu, (2010). Winning in Emerging Markets: A Road Map for
Strategy and Execution. Harvard Business School Press.
From time to time you should also refer to various issues of some of the popular management
journals such as Academy of Management Executive, Business Horizon, Columbia Journal of
World Business, European Journal of Management, Far Eastern Economic Review, Harvard
Business Review, California Management Review, Multinational Business Review, and Sloan
Management Review.
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Sessions Plan
Session Duration: 1.5 hours
Module 1: Logic & Theoretical Foundation of International Business
Session 1 (September 12)
Topic: Introduction to the Course & Recap of the Basic Concepts of Strategy
Readings:
1. Course Outline
Session 2 (September 13)
Topic: Strategic Management & Leadership in an MNC Context
Case: Clayton Industries: Peter Arnell, Country Manager for Italy
Readings:
1. „Putting Leadership Back Into Strategy‟, Montgomery, Harvard Business Review, 2008.
Discussion Questions:
1. Evaluate Peter Arnell‟s first two months as general manager of Clayton SpA. What are the main
challenges he faces? How well is he dealing with them?
2. Review the three possible courses of action on the last page of the case. As Arnell, which plan would
you recommend to Dan Briggs and Simone Buis next week?
3. Was Arnell the right choice to be country manager for Clayton SpA?
Session 3 (September 14)
Topic: Changing Global Landscape and Implications to Firms
Readings:
1. Challenging World of International Business (Chapter 1)
2. Friedman, T.L. (2005). “It‟s a Flat World, After All”, The New York Times.
3. Ghemawat, P. (2007). “Why the World‟s Isn‟t Flat”, Foreign Policy, pp.54-60.
4. Friedman‟s Response to Ghemawat, Foreign Policy
5. Ghemwat‟s Response to Freidman, Foreign Policy
Discussion Question:
1. How do you view Friedman vs Ghemawat debate? What‟s your point of view (POV) in this regard?
Session 4 (September 19)
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Topic: Why Do Firms Go Global?
Case: Go Global or No?
Reading: 1. Chapter 2 of David Collis (2014)
2. Alexander, Markus and Harry Korine (2008). “When You Shouldn‟t Go Global?”
Harvard Business Review, December.
Session 5 (September 20)
Topic: Globalization & Strategy: Foundational Concepts
Case: 1. Marcopolo: Making of a Global Latina
Reading: 1. Monti, J. A., and Yip, G. S. (2000) “Taking the high road when going international,”
Business Horizons.
Discussion Questions:
Session 6 (September 21)
Topic: Globalization & Strategy: Foundational Concepts, Frameworks & Theories
Case: Asian Paints Ltd.: International Business Division
Reading:
1. Yip (1994). “Industry drivers of global strategy and organization” Thunderbird International
Business Review.
Discussion Questions:
1. What accounts for APL‟s success in India?
2. Why did APL internationalize?
3. Given its track record on the home market, why are IB division‟s returns low?
4. What are the key issues facing Jalaj Dani?
5. What should be Jalaj Dani‟s priorities?
Session 7 (September 26)
Topic: Globalization & Strategy: Foundational Concepts, Frameworks & Theories
Case: Can Bollywood Go Global? HBS 9-806-040.
Reading:
1. 1. Porter, Michael E., (1990). “The Competitive Advantage of Nations,” Harvard Business
Review, March-April 1990.
Discussion Questions:
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1. How can Bollywood benefit by going global? What are critical success factors in movie business?
Which advantages of Bollywood are transferable to global market? What new competencies are to be
developed / acquired for going global?
2. Why did the US movie makers dominate the industry? Why did players from other countries such as
France and UK fail to convert occasional successes into a sustained leadership of the global movie
industry?
Session 8 (September 27)
Topic: Globalization & Strategy: Foundational Concepts, Frameworks & Theories
Case: Can Bollywood Go Global? HBS 9-806-040. (Continued…)
Reading:
1. De Kluyver, Cornelis A. (2010), “The Globalization of Companies and Industries,”
Fundamentals of Global Strategy, HBSP, (Chapter 2)
2. Ghemawat, P. (2008). "Arbitrage - Exploiting Differences." Chapter 6.
Discussion Questions:
3. What are some key differences between film markets in India and the US? What kind of opportunities
does Bollywood present for American studios? Can Hollywood successfully tap into Indian market
and pose a major threat to Bollywood in its backyard?
4. Would Indian cinema pose a major global challenge to Hollywood films?
Module 2: Strategy Development for Global Expansion
Session 9 (September 28)
Topic: Understanding and Analyzing Global Business Environment
Reading:
1. Ghemawat, Pankaj. “Distance Still Matters.” Harvard Business Review, 2001.
2. Bremer, Ian. “Managing Risk in an Unstable World.” Harvard Business Review, 2005.
3. Westney, D. Eleanor “Global strategy and global business environment: changing models of
the global business environment” Global Strategy Journal, 2011.
Note: One page proposal for the Group Project idea is due on September 30
Session 10 (October 5)
Topic: Developing Global Expansion Strategy
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Case: Resuming Internationalization at Starbucks
Reading:
1. Govindarajan & Gupta “Managing Global Expansion: A Conceptual Framework” Business
Horizon, 2002.
Discussion Questions:
1. Please evaluate the internationalization strategy and its impact on performance of Starbucks.
2. How should Starbucks approach internationalization going forward?
Session 11 (October 6)
Topic: Planning Market Entry Strategy
Case: Citibank: Launching the Credit Card in Asia Pacific (A)
Reading:
1. Target Markets and Modes of Entry, Fundamentals of Global Strategy, Chapter 5
2. Nielsen, C. (2005). “The Global Chess Game...Or Is It Go? Market Entry Strategies for
Emerging Markets.” Thunderbird International Business Review. 47(4), 397-427.
3. Horn, J.T., Lovallo, D.P. and Viguerie, S.P. (2005). “Beating the Odds in Market Entry”, The
McKinsey Quarterly, No. 4, 2005.
Discussion Questions:
1. Should Citibank launch the card product in Asia Pacific?
2. How should Citibank position its card, if it decides to launch?
3. Which countries should Citibank enter first? Which countries should it avoid?
4. If you chose not to introduce the card what would you do to achieve the $100 million earnings target
by 1990? What kind of branch banking products should the bank offer?
Session 12 (October 7)
Topic: Executing Market Entry Strategy – Cross-Border Mergers and Acquisitions
Case: Havells India: The Acquisition of Sylvania
Reading:
1. Kale, Singh and Raman “Don‟t integrate your acquisitions, partner with them”, Harvard
Business Review, 2009.
Discussion Questions:
1. What is driving the internationalization of Havells?
2. Should Havells proceed with the acquisition? What are the value propositions for the acquisition?
What are the risks?
3. How would the globalization of Havells affect its performance? Revenue? Profits? Capabilities?
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4. Would you recommend the acquisition? Why or why not?
5. What do you see as the next set of challenges for Havells? What would be your recommendations for
building the organizational capacity?
Session 13 (October 26)
Topic: Executing Market Entry Strategy – Joint Ventures
Case: Blue Ridge Spain
Reading:
1. Killing, J. P. “How to Make a Global Joint Venture Work,” Harvard Business Review, 2007.
Discussion Questions:
1. In Blue Ridge Spain what led the joint venture partners to this impasse? What were the major
difficulties between the JV partners over the years?
2. Identify yourself with one of the key decision makers in Blue Ridge Spain case and develop an action
plan on his behalf.
Session 14 (October 27)
Topic: Global Expansion Strategy: Winning the Local Battle & Local Adaptation
Case: Euro Disney: From Dream to Nightmare
Reading:
1. Ghemwat, Pankaj “Adaptation: Adjusting to Differences,” Chapter 4, Redefining Global
Strategy
2. “All Strategies are Local”, Harvard Business Review. 2005.
Discussion Questions:
1. Evaluate Disney‟s decision to build a theme park in Europe.
2. Explain why Disney chose to enter Europe through a combination of equity ownership, a licensing
contract, and a management contract, as compared with the relationship with its UStheme parks
(100% ownership) or with Tokyo Disneyland (pure licensing)?
3. In what ways did Disney adapt to a French and European context? How effective was this adaptation?
Should Disney have adapted more or less?
4. Advise (a) Philippe Bourguignon on what further actions he should take to improve the financial
viability of Euro Disney and realize its potential for shareholder return, and (b) Michael Eisner on
how Disney‟s interests in Euro Disney can best be protected and furthered.
Session 15 (October 28)
Topic: Global Expansion Strategy: Winning the Local Battle in Emerging Markets
Cases: Coffee Wars in India: Starbucks and Coffee Café Day
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Session 16 & 17 (November 9 & 11)
Group Project Work
Note: Preliminary Report on the Group Project due on November 14
Session 18 (November 16)
Topic: Global Integration: Strategy for Creating Global Competitive Advantages
Case: The Globalization of CEMEX
Reading:
1. Ghemawat, Pankaj. “Managing Differences: The central challenge of global strategy” Harvard
Business Review.
2. Gupta & Govindarajan, “Converting Global Presence into Global Competitive Advantage”
Academy of Management Perspective, 2001.
Discussion Questions:
1. Is cement a global industry?
2. What benefits have CEMEX and the other global competitors in cement have derived from expanding
across borders?
3. Analyze how CEMEX has outperformed its global competitors in the cement industry, keeping
Holderbank as a reference.
4. How far can Cemex‟s competitive advantage travel?
5. What are the most important challenges that CEMEX is likely to confront in the future?
Module 3: Managing Global Expansion
Session 19 (November 17)
Topic: Executing Global Strategy: Subsidiary Formation and Being a Country Manager
Case: Silvio Napoli at Schindler India
Reading:
1. Gregersen, Morrison, Black (1998), “Developing Leaders for the Global Frontier,” Sloan
Management Review, 40-1: 21-32.
2. Baruch, Y. (2002), “No Such Thing as a Global Manager,” Business Horizons, 45 (1), 36-42
Discussion Questions:
1. Was Silvio the right choice for general manager of Schindler‟s India operations? What are the
strategic, organizational, and political challenges facing Napoli as a new country manager setting up a
subsidiary in India for Schindler?
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2. As Luc Bonnard how would you evaluate Silvio‟s first seven months as general manager of the
Indian company? What advice would you offer?
3. What advice would you give to Silvio regarding his decision on the nonstandard glass wall elevator
that has been ordered?
4. How should he deal with the challenges he is facing over transfer prices and limited technical
cooperation from the European plants?
Session 20 (November 18)
Topic: Being a Global Manager – Roles, Responsibilities, Challenges and Opportunities
Case: From Regional Star to Global Leader (HBR Case study)
Reading:
1. Gupta & Govindarajan “Cultivating a Global Mindset” Academy of Management Executive.
2. Bartlett, Christopher A., and Sumantra Ghoshal. "What is a Global Manager?" Harvard Business
Review, August 2003. HBR Reprint # 92502;
Discussion Questions:
1. Can Jianguo make the transition?
Session 21 (November 23)
Topic: Managing Business in Emerging Markets & Emerging Multinationals
Case: 1. LG Electronics: Global Strategy in Emerging Markets
2. Haier - Taking a Chinese Company Global
Reading:
1. Khanna,T. & Palepu, K. “Emerging Giants” Harvard Business Review, 2009.
2. Bartlett, C.A., and Ghoshal, S. (2000). “Going Global: Lessons from Late Movers”, Harvard
Business Review, March-April 2000.
3. Mathews, J.A. (2006). “Dragon Multinationals: New Players in 21st Century Globalization”, Asia
Pacific Journal of Management, 23, pp.5-27.
4. Ghemawat, P. and Hout, T. (2008) “Tomorrow‟s Global Giants: Not the Usual Suspects”,
Harvard Business Review, November 2008.
Discussion Questions:
1. What are the key strengths of the Korean electronics industry during the formative years? How did
firms leverage these advantages to enter developed markets?
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2. Trace the strategic growth of LG Electronics. Were there any discernible patterns in their approaches to
business in emerging markets? What are the commonalities in strategies in the BRIC countries?
3. What have been the sources of competitive advantages in the emerging markets? Can these advantages
be leveraged to compete in the developed markets? Are these advantages transferable?
Session 22 (November 24)
Topic: Reverse Innovation - Learning from Emerging Markets
Case: GE Healthcare (A): Innovating for Emerging Markets
Readings:
1. Prahalad, C.K., Lieberthal, K. (2003). “The End of Corporate Imperialism”, Harvard Business
Review, August 2003.
2. Immelt, J.R., Govindarajan, V. and Trible, C. (2009). “How GE is Disrupting Itself”, Harvard
Business Review, October 2009.
Discussion Questions:
1. Why would it take so long for a company like GE to innovate for markets such as India or China?
2. Is the "MAC 400" or the "MAC 800" a case of "local innovation" or of "global innovation"? Why?
Does it matter?
3. How likely is a "reverse innovation" to succeed? Why?
4. Do you consider that "reverse innovation" is "an approach critical to the very survival of Western
MNCs as they prepare to fight the threat of emerging market companies going global"? Why?
Session 23 (November 25)
Topic: Responsible Globalization
Cases: Short cases on ethical issues in international business
Reading:
1. “Triple Bottom Line,” The Economist, November 17, 2009.
2. Porter, M. E., & Kramer, M. R. (2011). “Creating Shared Value”. Harvard Business Review, 62–
77.
Session 24 (December 1)
Topic: Responsible Globalization (Continued)
Reading:
1. Amory B Lowins, L Hunter Lowins, and Paul Hawken. “A Roadmap for Natural Capitalism”,
Harvard Business Review
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Session 25 (December 2)
Integration & Review
Note: Final Report on the Group Project due on December 12
Best of Luck!!!
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