Podcast

Why do some companies succeed when expanding internationally while others fail? What does it take to compete in a globalized economy? And how should businesses account for the political, cultural, and economic differences between countries?In Know Time Episode 197, Robert Salomon, Dean of Stern at NYU Abu Dhabi and Professor of International Management at NYU Stern School of Business, joins us for a conversation about business strategy, globalization, international business, and management.Salomon is the author of Global Vision: How Companies Can Overcome the Pitfalls of Globalization (2016), a book examining why international expansion can go wrong and how businesses can better navigate the risks of entering foreign markets. Drawing on real-world cases involving companies such as Walmart, IKEA, and Target, his work explores how differences in national institutions, regulations, culture, and economic conditions shape the success or failure of global business strategies.His earlier book, Learning from Exporting: New Insights, New Perspectives (2007), examines what firms can learn from exporting and the relationship between international business activity and firm learning.In this episode, we explore the fundamentals of business strategy, the realities of globalization, and the challenges of competing across international markets.In this episode:Business Strategy 101: What is strategy, and why does it matter?Globalization explained: How international markets shape business decisionsWhy multinational companies succeed or fail when entering foreign marketsWalmart in China and the challenges of international expansionThe cultural, political, and economic risks of doing business abroadHow companies choose which countries and markets to enterInternational trade, exporting, and learning from foreign marketsHow businesses build and sustain a competitive advantageWhat managers and entrepreneurs need to understand about global competitionRob: https://www.stern.nyu.edu/faculty/bio/robert-salomonSUPPORT:Patreon: https://www.patreon.com/knowtimeAnchor: https://anchor.fm/knowtime/supportYoutube Membership: https://www.youtube.com/channel/UCJ-937lA3_s2g5AxdpKQjVg/joinMerch: https://know-time-shop.fourthwall.com/PODCAST:Anchor: https://anchor.fm/knowtimeSpotify: https://open.spotify.com/show/2CjRJPktODLDeHavCNDLGAApple Podcasts: https://podcasts.apple.com/us/podcast/know-time/id1535371851?uo=4CONNECT:Youtube: Subscribe!Instagram: https://www.instagram.com/knowtimetofly/Instagram (Personal): https://www.instagram.com/shalajlawania/Twitter: https://twitter.com/knowtimetoflyTwitter (Personal): https://twitter.com/shalajlawaniaFacebook: https://www.facebook.com/knowtimetoflyReddit: https://www.reddit.com/r/knowtimetofly/Merch: https://know-time-shop.fourthwall.comBlog: http://www.sadisticshalpy.com/Producer & Host: Shalaj LawaniaTIMELINE0:00 Trailer1:21 Introduction2:42 Case Study: Why Did Tesco Fail in America?5:15 Rob’s Journey 10:40 Has Globalization Been A Failure?18:25 Why Did Walmart Fail in China?21:04 Corporate Expansion23:13 How Do You Measure Differences Between Countries?28:17 Case Study: Why Is Apple So Successful?32:30 Case Study: Why Is Starbucks So Successful?37:42 How Do You Measure Risk?46:31 Case Study: Institutional Distance57:02 Setting Up NYU Stern1:02:59 Lego, Inspirations, Legacy & Meaning of Life#business #businessgrowth #management #businesstips