The confluence of global business and digital business, a shift long in the making, is now well underway. Of the important factors that account for this confluence, two in particular stand out: continuing advances in technology and innovation and the growing interconnectedness between the physical and digital worlds. These trends have major implications for corporate strategists. In the global-digital world, products are of three kinds--physical, digital, and smart machines (products that are both physical and digital, and connected to the internet). The economics of each kind of products is distinct from that of the others, which has strategic implications for all kinds of businesses.Aimed specifically at an executive/professional audience, Global Meets Digital derives its underpinnings from the actual practice of global and digital business. It is imperative for multinational enterprises (MNEs) to learn from the experiences of other MNEs how they do business and how they became successful (or unsuccessful) in their international and digital activities. Multinational enterprises have existed for a very long time. So, why now? The context of business in the last several years has undergone significant change. 1) Growing interconnectedness between the physical and digital worlds; 2) accelerating growth of technologies, such as artificial intelligence (AI) and cloud computing, used not only by IT firms but increasingly by firms in practically all industries; 3) growing role of cross-border data flows versus international trade in goods -- a fact not often covered in books on strategy and international business; 4) emergence of millions of entrepreneurs and small and medium-sized businesses new to the global marketplace for goods and services; and 5) a changed political, economic, and social environment in many parts of the world including the U.S., several European countries, and Latin America -- all of which have important implications for business. With several mini case studies and over 300 company examples, the book covers themes and cutting-edge issues like the paradox of globalization, digital disruption, disruptive business models, exponential technologies, Internet of Things, competition in digital markets, winner-take-all market dynamics, Industry 4.0, how to innovate, strategizing for the New Normal, and value creation and value capture in both B2C and B2B contexts.
