Opening Keynote: Globalization – The Next Challenge
Professor Pankaj Ghemawat, Anselmo Rubiralta Professor of Global Strategy at IESE Business School
Family businesses are no different from other enterprises when it comes to the promises and pitfalls of globalization. Taking advantage of the trend requires family business leaders to be open to internationalization. But it also demands an awareness of the pitfalls of cross-border expansion, whether in relation to entering new markets or redesigning supply chains. Professor Ghemawat has shown that people and companies often aren’t as globally aware as they think. Doing better at globalization requires a deeper appreciation of the distances–cultural, administrative, geographical and economic – between different markets and strategic and organizational changes that explicitly help address them.