China has new political leadership. The newness of the new era, however, is by no means limited to the new leadership. The new era reflects a number of fundamental shifts taking place and arising challenges in China’s economic, social, ecological, demographic, political and geopolitical landscape. All of these will obviously have a profound impact on the rest of the world. In describing the transformative forces of these shifts and their consequences, the article first takes a historical perspective in identifying China’s position in and view of the outside world. Whereas the first and second tectonic shifts of isolation and subsequently exploitation spanned several centuries, the last two have been occurring with great speed. From having rejected globalisation in the past, China has come to embrace it, with monumental consequences for China’s 1.4 billion people and for the remaining 5.6 billion citizens of this planet.
November – December 2012
Century Champions The Mindful Manager Cultural Fitness for Business Process Management: What is it and what is it worth? Finance Transfer pricing update: New discussion draft issued by OECD Global Rebalancing 2.0 Climate Finance in the Age of Green Growth Social Banking and Social Finance: Building Stones Towards A Sustainable Post-Crisis Financial System? Middle East China/Asia What the End of Cheap China Means for the Rest of the World Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth Paisa Vasool : How to Captivate the Newly Affluent in China and India
Global Enterprise 2020 – A Blueprint
Anil K. Gupta & Haiyan Wang
Christian Stadler
Leadership
Leadership By Example: The Ten Key Principles of All Great Leaders
Sanjiv Chopra & David Fisher
Peter Lenney
Strategy
How Corporations Co-Opt Compassion: Compliance, Cause-Related Marketing, and Corporate Social Responsibility
Mara Einstein
Theresa Schmiedel, Jan vom Brocke & Jan Recker
Rebuilding Retirement System Resiliency in the Wake of the Financial Crisis
Raimond Maurer, Olivia S. Mitchell, & Mark Warshawsky
Les Secular
Linda Lim & Ronald U. Mendoza
The New Developmentalism: How the Long-Term Shifts to an Asia-Centered, Low-Carbon Global Economy Are Connected
David J. Hess
Yongfu Huang & Jingjing He
Roland Benedikter
The Impact of the Arab Spring on the Energy Sector: Opportunities and Risks Fred Stahl
Gawdat Bahgat
China’s Global Tectonic Shifts: The Dawn of a New EraJean-Pierre Lehmann
Jean-Pierre Lehmann
Shaun Rein
Navi Radjou, Jaideep Prabhu & Simone Ahuja
Michael J. Silverstein, Abheek Singhi, Carol Liao & David Michael
Not Just Talk
By Boris Groysberg & Michael Slind
A new source of organizational power has come to the fore. Our term for that power source is organizational conversation.#
The Educated Middle Class, their Economic Prospects, and the Arab Spring
By Filipe R. Campante & Davin Chor
The recent uprisings in the Arab World carry a broader lesson, highlighting the importance of sustaining an economy that provides sufficient job opportunities for an increasingly educated and skilled middle class.
The Crisis in the Eurozone
By Justin Yifu Lin & Volker Treichel
Four years after the beginning of the global financial crisis, the protracted sovereign debt crisis in the eurozone is a looming threat to the recovery of the world economy and could lead to a renewed global financial crisis. While fiscal profligacy on the part of periphery countries has been viewed by many analysts as the root of the ongoing crisis, this paper argues that the impact on capital flows within the eurozone of financial deregulation and liberalization and of the adoption of the common currency was critical in exacerbating a growing competitiveness gap between core and periphery countries and explaining the evolution of the crisis.
Digital Social Capital: Building, Maintaining and Leveraging Digital Networks for Innovation and Creativity
The digital landscape makes it clear that individuals are employing multiple sources of information, are members of diverse, sparsely-knit and specialized interest groups, and access both online and mobile applications via a wide range of media. We no longer function in small, local, interest-based groups, but rather society has moved toward a new social order, which Lee Rainie and Barry Wellman term networked individualism. This creates a need for each individual, social group, and corporation to make large investments of time, effort, and creativity into building, creating, and maintaining their unique social network. But, to what extent are digital networks relevant to the business world?
Fiscal Child Abuse American Style
By Laurence Kotlikoff & Scott Burns
President Kennedy said, “Our problems are man-made. Therefore, they may be solved by man.” Looking at America’s current horrendous fiscal situation, one might well add, “Man’s solutions have become his problems.” Indeed, many of our problems today can be described as cases of catastrophic success, where we have identified a major problem and fixed it. But, in doing so, produced a different and, potentially, much worse problem than originally existed.
The Business of Healthcare Innovation: Convergence in the Marketplace
The article is adapted from the author’s latest book ‘The Business of Healthcare Innovation‘ (Cambridge University Press, 2012)
Marketing Life Insurance in China: How Cultural Taboo Matters
How does a market for a new product emerge in the face of cultural barriers? Marketing life insurance in China has never been easy, as the topic of early death is a deeply ingrained taboo subject. Transnational and domestic life insurance firms, however, have pursued different strategies when dealing with local cultural resistance. While transnational firms have upheld a profit-oriented model and attempted to remove the local cultural obstacles, domestic firms have adopted a market-share approach as they try to accommodate local preferences. Interestingly, the rapid growth of the Chinese life insurance market can be largely attributed to the novice domestic players’ unconventional business strategies. The market that has emerged is one with a trajectory and characteristics distinct from those in Euro-American contexts. These characteristics highlight the strong influence of local cultures on market formation.
India’s Luxury – A Tale of Paradoxes
By Glyn Atwal & Soumya Jain
As the Indian luxury market enters the next phases of development, the rewards of this potentially massive market will continue to attract investment. However, India is not just another emerging market. The dynamics of the Indian luxury market challenge international luxury players to develop an Indian-driven strategy. The ability and willingness to connect with the Indian luxury consumer can make a difference between wining and losing a share of the luxury rupee. A new era beckons international luxury brands to plan strategically for the future and seize the market.
EDITOR'S PICK OF THE WEEK
