How 'Globality' Will Change Your Life

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I'll discuss acquiring challenger companies—collaborating with them, being acquired by them, and working for them. Who would have thought at the beginning of this decade that the IBM (IBM) PC business would be acquired by a Chinese company, or that Jaguar and Land Rover would become Indian brands, part of the same conglomerate that now owns Tetley Tea?

The U.S. has seen waves of competition in the past. In fact, at the beginning of the 20th century, the U.S. itself was the upstart competitor, challenging the old industrial order of Europe. By the mid 20th century, the U.S. was the world's undisputed industrial leader.

Next Wave Will Dwarf the Last

Then the challengers started coming: A rebuilt Japan, which we didn't take seriously at first, lulled us to sleep with trinkets and transistor radios and then—over the course of two decades, the 1960s and '70s—became a commanding leader in automobiles and consumer electronics. South Korea became a serious challenger more recently. And we are all now suddenly aware of China's and India's lurking presences.

The next wave of competitors will dwarf what has come before. Japan, when it made its move, had maybe 120 million, 130 million people. The next wave—with companies from Argentina, Brazil, Chile, China, Egypt, Hungary, India, Indonesia, Malaysia, Mexico, Poland, Russia, Thailand, Turkey, and elsewhere competing with U.S., European, and Japanese companies, and with each other, for everything, everywhere—will involve 3 billion people. But those 3 billion people are also potential partners, suppliers, and customers.

I not only invite you to read, but I hope you will become engaged, sharing your comments, suggestions, and questions as I move ahead. I hope this column will generate a lively discussion—with you as an active partner and participant. I hope that together we can address the challenges, even struggles, you will face in the coming era of globality.

Globality is complex. Those who make the right decisions in a timely fashion will see their lives changed for the better. Those who don't will pay the price.

Harold L. Sirkin is a Chicago-based senior partner of The Boston Consulting Group and author, with James W. Hemerling and Arindam K. Bhattacharya, of GLOBALITY: Competing with Everyone from Everywhere for Everything (Business Plus, June, 2008).