There are few industries, if any untouched by global competitive forces. Firms and countries long accustomed to dominance in their respective international markets must now reckon with aggressive and innovative competitors from all corners of the world. As the cross-border flow of people, knowledge, ideas, products, services and management practices accelerates, the notion of home-based advantage is becoming weaker. Unlike their domestic counterparts, firms competing across borders must deal with differences in political, legal, financial, cultural, governance and macroeconomic contexts....
There are few industries, if any untouched by global competitive forces. Firms and countries long accustomed to dominance in their respective internat...