The new "globality" of business means opportunities, new approaches
LONDON, ON, Oct. 16 /CNW/ - Just like the U.S. was the upstart competitor
to Europe's established industrial giants in the early 20th century, the next
wave of global companies is coming from countries such as Brazil, China,
Argentina and India.
On October 27, author James Hemerling will speak at a Richard Ivey School
of Business Idea Forum in Toronto about what it takes for a company to thrive
in this new era of competition.
Hemerling is co-author of "Globality: Competing With Everyone From
Everywhere For Everything". His address will focus on this new phase of
globalization, coined "globality", and how companies can take advantage of the
opportunities it offers. The event is slated for 11:30 a.m. at Ivey's ING
Leadership Centre in Toronto.
The term "globalization" used to pertain to multinationals from developed
areas expanding into developing countries to take advantage of low raw
materials and labor costs. However, "globality" refers to the phenomenon where
firms in developed areas will soon be competing with companies from emerging
countries for such things as energy, raw materials, labour, management talent,
scientists and engineers.
"Globality will not be a one-way street, with U.S., Western European, and
Japanese companies seeking competitive advantage overseas. Instead, it will be
a global economic free-for-all, which may be hard to imagine," said Hemerling,
an Ivey alumnus and senior partner with Boston Consulting Group. "Globality
will present the greatest management challenge of your lifetime and also the
greatest opportunities. The fate of companies, jobs and entire economies may
well be determined by how well you understand the phenomenon and the new cast
Companies like Embraer, an aircraft maker in San Jose dos Campos, Brazil,
are the ones to watch. Embraer rose above the pack of competitors by focusing
on small jets used primarily for regional flights and launching a new "double
bubble" design that gives passengers room without sacrificing fuel efficiency.
Hemerling will discuss how internet and communications technology and
international trade laws have given a new wave of about 100 upstart
challengers equal footing and how this rapidly evolving global environment
demands a new way of approaching business issues.
Shih-Fen Chen, Associate Professor of International Business, Richard
Ivey School of Business, will introduce the session.
"I firmly believe that James' book carries the point home that I see in a
lot of my research, that is, that companies need to develop a global mentality
to deal with this new global reality," said Chen. "With company lines blurring
internationally, as consumers, we can no longer make our purchase decisions
based on the nationality of product brands. As employees, we need to be
prepared to work with foreigners, either at home or abroad."
This event is part of the Ivey Idea Forum: A Cross-Enterprise Leadership
Series, which provides executives, Ivey alumni, business students and
prospective students with guest speakers and events to develop
cross-enterprise leadership thinking on key business issues.
Event: James Hemerling, co-author, "Globality: Competing With
Everyone From Everywhere For Everything"
Date: Monday, October 27, 2008
11:30 a.m. - Lunch
12 p.m. - Presentation by James Hemerling
Location: Ivey ING Leadership Centre, The Exchange Tower, 130 King
Street West, Toronto, Ontario
To purchase tickets, please contact Ashleigh Nimigan at 519-850-2999,
firstname.lastname@example.org or click here: www.ivey.ca/Toronto/theiveyideaforum.htm
Media interested in attending, please contact Dawn Milne at 519-850-2536,
About the Richard Ivey School of Business, The University of Western
The Richard Ivey School of Business at The University of Western Ontario
(www.ivey.ca) offers undergraduate (HBA) and graduate (MBA, Executive MBA and
PhD) degree programs in addition to non-degree Executive Development programs.
Ivey has campuses in London (Ontario), Toronto, and Hong Kong. Ivey recently
redesigned its curriculum to focus on Cross-Enterprise Leadership - a holistic
issues-based approach to management education that meets the demands of
today's complex global business world.
For further information:
For further information: Dawn Milne, Communications Specialist, Richard
Ivey School of Business, (519) 850-2536, email@example.com