توسعه راه های جدید برای رشد: پنج چالش معرفی شده در محیط زیست جهانی

This paper documents five major trends in the global environment, and examines the impact of each on the corporate strategies of multinational firms striving for higher rates of growth in corporate earnings. The five trends documented are: 1. shifts in economic activity and growth between and within regions of the world; 2. increasing demand for goods and services among the very poor in emerging markets; 3. a faster pace and wider locus of technological innovation; 4. Increasingly global labor markets; and 5. increasingly ubiquitous and inexpensive access to information and knowledge. Each of these trends presents multinational firms with a potentially new avenue for growth, or an avenue down which they should consider moving further and/or faster. These potentially new avenues for growth are encouraging managers of multinational firms to challenge the current corporate strategies of their firms, and examine the need to reorient or renew them. The paper discusses the strategic challenges associated with these new avenues for growth, and the need for more research on the concept of country risk, on the concepts of the transnational strategy and organizational structure, and on the challenges of very limited sustainable capacity to consume among the very poor.

According to recent surveys, senior managers of business firms are increasingly setting high priority goals to increase corporate growth (Global CEO Study, 2004). Primary among the reasons for increased managerial focus on corporate growth are perception of increasing growth opportunities, and/or increasing threats to growth stemming from developments in the global economy. In general, the developed countries of the world are mature and growing slowly. Also in general, low-cost competition from firms in emerging countries has been capturing increasing shares of many markets in both economically-developed and economically-developing countries. The rate of growth in corporate profits (RGCP) is highly correlated with the total shareholder value (TSV). According to one empirical study, variation in RGCP explains two thirds to three/fourths of the variation in TSV over time (Zook and Allen, 2000). While correlation studies cannot prove causality, most managers would agree based on their experience that a decline in or increase in a firm's RGCP will result in a decline or an increase in its market capitalization at some point in the future, and hence it's TSV. Few would hazard precise quantitative forecasts of the magnitude of changes in TSV in response to changes in RGCP, or its precise timing, but most would agree that “larger percentage” changes in the RGCP are likely to result in “larger” changes in TSV, and many would anticipate that the impact on TSV would happen “sooner” rather than “later.”. Given the increased emphasis on corporate growth, senior managers of business firms are increasingly challenging their current corporate strategies, examining the need to reorient, and in some cases, renew them. The author defines corporate strategy as consisting of three major elements: 1) the current product/market/geographical scope and shape of the firm, 2) the competitive models currently being implemented in each business in which the firm has invested, and 3) the dynamic capabilities of the firm to create and implement new more competitive business models for existing businesses, for new businesses, and for new geographic areas. Many managers believe that the current corporate strategies of their firms do not take full advantage of the opportunities for growth, and/or have not adequately decreased the threat of decline in RGCP due to recent developments and trends in the global environment.

According to recent surveys, senior managers of business firms are increasingly setting high priority goals to increase corporate growth (Global CEO Study, 2004). Primary among the reasons for increased managerial focus on corporate growth are perception of increasing growth opportunities, and/or increasing threats to growth stemming from developments in the global economy. In general, the developed countries of the world are mature and growing slowly. Also in general, low-cost competition from firms in emerging countries has been capturing increasing shares of many markets in both economically-developed and economically-developing countries. The rate of growth in corporate profits (RGCP) is highly correlated with the total shareholder value (TSV). According to one empirical study, variation in RGCP explains two thirds to three/fourths of the variation in TSV over time (Zook and Allen, 2000). While correlation studies cannot prove causality, most managers would agree based on their experience that a decline in or increase in a firm's RGCP will result in a decline or an increase in its market capitalization at some point in the future, and hence it's TSV. Few would hazard precise quantitative forecasts of the magnitude of changes in TSV in response to changes in RGCP, or its precise timing, but most would agree that “larger percentage” changes in the RGCP are likely to result in “larger” changes in TSV, and many would anticipate that the impact on TSV would happen “sooner” rather than “later.”. Given the increased emphasis on corporate growth, senior managers of business firms are increasingly challenging their current corporate strategies, examining the need to reorient, and in some cases, renew them. The author defines corporate strategy as consisting of three major elements: 1) the current product/market/geographical scope and shape of the firm, 2) the competitive models currently being implemented in each business in which the firm has invested, and 3) the dynamic capabilities of the firm to create and implement new more competitive business models for existing businesses, for new businesses, and for new geographic areas. Many managers believe that the current corporate strategies of their firms do not take full advantage of the opportunities for growth, and/or have not adequately decreased the threat of decline in RGCP due to recent developments and trends in the global environment.