Globality is very different from globalization, which primarily involves large western corporations expanding their operations and moving aggressively into new overseas markets. Globality radically defines a 'post-globalization' world, where companies from India, China, Russia, eastern Europe, Brazil and Mexico are expanding beyond their home base, entering and building new markets, creating whole industries, and competing for customers, resources, market share and attention. In short, the tide has turned. As a result, western companies need to understand these emerging new businesses and the economies they come from in order to stay ahead and stay alive. Globality is a stunning clarion call that provides a whole new view of how business will be conducted for years to come.
Harold L. Sirkin is a Senior Vice President and Director of The Boston Consulting Group (BCG) , and the worldwide leader of its Global Operations practice. He is the co-author of PAYBACK: REAPING THE REWARDS OF INNOVATION, which was named by BusinessWeek" as one of the top ten books on innovation of the year.Jim Hemerling has been based in Shanghai since 2000 and is the Managing Director of BCG Greater China.Arindam Bhattacharya is a BCG Vice President and leads the firm's office in New Delhi.