The globalization of business has ended "corporate colonialism" in international commerce, and out of this has emerged what the author calls the "global corporation." Differing in many important ways from the now obsolete "multinational corporation" it is replacing, the global corporation is actually a network of independent entrepreneurs, liberated from the control of headquarters, and thus able to implement a new vision of the overall enterprise, its competitive strategies, and how it coordinates and communicates within itself. The author carefully delineates the subtle distinctions among concepts that are often taken, mistakenly, as synonyms for globalization, such as multinationalization, and elicits the implications these distinctions have for the management of international business.
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