Sunday, May 16, 2021

g-f(2)278 The Big Picture of the Digital Age (5/16/2021), MIT SMR, How COVID-19 Will Change the Geography of Competition



Extra-condensed knowledge


  • Three trends are reshaping global strategy and operations for the world’s largest companies.
    • For any business leader, decisions about their company’s geographic footprint are crucial.
  • Leaders are exposed to two significant errors of judgment when they misunderstand the geography of competition.
    • First, they escalate commitment to geographic markets they should be retreating from;
    • and second, they miss out on novel opportunities to create value across borders in different areas of the world. By getting their geographic footprint wrong, they make the company less resilient and unfit for future global challenges.
  • COVID-19 is set to have a lasting impact on the geography of competition, regardless of vaccine availability. 
    • My ongoing analysis of the world’s 500 largest corporations suggests leaders should avoid two common misconceptions and carefully consider three trends that are set to reshape their companies’ geographic footprint in the aftermath of the pandemic.
      • Three Trends Reshaping Your Company’s Geographic Footprint
        • Trend 1: The home region will become even more crucial. 
        • Trend 2: Global expansion will remain an option for very few companies.
        • Trend 3: Digital technologies will drive globalization’s next phase.

ULTRA-condensed knowledge


WARNING, MIT SMR,
  • COVID-19 Will Change the Geography of Competition


Genioux knowledge fact condensed as an image


Condensed knowledge


  • Three trends are reshaping global strategy and operations for the world’s largest companies.
    • For any business leader, decisions about their company’s geographic footprint are crucial.
  • Leaders are exposed to two significant errors of judgment when they misunderstand the geography of competition.
    • First, they escalate commitment to geographic markets they should be retreating from;
    • and second, they miss out on novel opportunities to create value across borders in different areas of the world. By getting their geographic footprint wrong, they make the company less resilient and unfit for future global challenges.
  • COVID-19 is set to have a lasting impact on the geography of competition, regardless of vaccine availability. 
    • My ongoing analysis of the world’s 500 largest corporations suggests leaders should avoid two common misconceptions and carefully consider three trends that are set to reshape their companies’ geographic footprint in the aftermath of the pandemic.
      • Three Trends Reshaping Your Company’s Geographic Footprint
        • Trend 1: The home region will become even more crucial. 
        • Trend 2: Global expansion will remain an option for very few companies.
        • Trend 3: Digital technologies will drive globalization’s next phase.

Category 4: The Big Picture of coronavirus and other viruses

[genioux fact deduced or extracted from MIT SMR]

This is a “genioux fact fast solution.”


WARNING, MIT SMR,
  • COVID-19 Will Change the Geography of Competition

Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).

Type of validity of the "genioux fact". 

  • Inherited from sources + Supported by the knowledge of one or more experts + Supported by research.


Authors of the genioux fact

Fernando Machuca


References


Niccolò Pisani is a professor of strategy and international business at IMD Business School.


Extracted from IMD Business School



Niccolò brings a unique combination of skills to IMD, bridging the worlds of business and academia.

His areas of expertise are strategic management and international business, with emphasis on globalization, sustainability and digitization. One of Niccolò’s key areas of interest is corporate social responsibility – his research in this stream has recently focused on inequality and sustainable cities.

“Today, more than ever, companies need to be aware of the critical role they play in our society and actively contribute to resolving some of the enduring global issues of our times,” says Niccolò. “Not only because consumers are increasingly attracted to the ‘good companies’, but because society at large needs more socially responsible businesses that create economic prosperity in a sustainable manner.”



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