“Think globally, act locally.”
Strategy has to accept a new fundamental. Any institution—and not just businesses—has to measure itself against the standards set by each industry’s leaders anyplace in the world. Given the ease and speed at which information travels, every institution in the knowledge society has to be globally competitive, even though most organizations will continue to be local in their activities and markets. This is because the Internet will keep customers everywhere informed on what is available anywhere in the world, and at what price. E-commerce will create new global channels for commerce and wealth distribution.
Here is an example. An entrepreneur developed a highly successful engineering ...
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