The Myth of Global Strategy

Recent research suggests that globalization is a myth. Far from taking place in a single global market, most business activity by large firms takes place in regional blocks. There is no uniform spread of American market capitalism nor are global markets becoming homogenized. Thus, it is argued that globalization is misunderstood – it does not, and has never, existed in terms of a single world market with free trade. This article discusses this further. Furthermore, it examines global misunderstandings and offers some practical strategies for managers who want to increase their company’s international revenues and profits.