How bad have things gotten? How did we get stuck in what now can only be called a depression? And above all, how do we free ourselves? Krugman pursues these questions with his characteristic lucidity and insight. He has a powerful message for anyone who has suffered over these past four years-a quick, strong recovery is just one step away, if our leaders can find the "intellectual clarity and political will" to end this depression now.
In 2001, Jim O'Neill predicted the fastest growing economies of the past decade. Now he's back to explore the new growth markets we should all be watching closely today.
It's been ten years since Jim O'Neill conceived of the BRIC acronym. He and his team made a startling prediction: Four developing nations- Brazil, Russia, India, and China (the BRICs)-would overtake the six largest Western economies within forty years. The BRIC analysis permanently changed the world of global investing, and its accuracy has stood the test of time.
The Growth Map features O'Neill's personal account of the BRIC phenomenon, how it has evolved, and where those four key nations currently stand after a turbulent decade. And the book also offers an equally bold prediction about the "Next Eleven" countries: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam. These developing nations may not seem exceptional today, but they offer exciting opportunities for investors over the next decade, just as BRIC did before them.
O'Neill also shares several compelling insights about the world economy. He reveals the value for growing countries in being "willing to play" by meaningfully committing to policies that encourage further growth and engagement with globalization. He explains how the g20 can adjust to better incorporate the BRICs and to better reflect the balance of the global economy.
Finally, O'Neill makes the counterintuitive claim that good things can quite often come from crises. While established economic powers may see the rise of the BRICs as a threat, international trade benefits us all over the long term. Likewise, the recent financial crisis revealed deep problems in our economic systems, problems we now have the opportunity to fix.
Stiglitz draws on his deep understanding of economics to show that growing inequality is not inevitable: moneyed interests compound their wealth by stifling true, dynamic capitalism. They have made America the most unequal advanced industrial country while crippling growth, trampling on the rule of law, and undermining democracy. The result: a divided society that cannot tackle its most pressing problems. With characteristic insight, Stiglitz examines our current state, then teases out its implications for democracy, for monetary and budgetary policy, and for globalization. He closes with a plan for a more just and prosperous future.
TOYOTA.The name signifies greatness— world-class cars and game-changing business thinking. One key to the Toyota Motor Company’s unprecedented success is its famous production system and its lesser-known product development program. These strategies consider the end user at every turn and have become the model for the global lean business movement.
All too often, organizations adopting lean miss the most critical ingredient—lean leadership. Toyota makes enormous investments in carefully selecting and intensively developing leaders who fit its unique philosophy and culture. Thanks to the company’s lean leadership approach, explainsToyota Wayauthor Jeffrey Liker and former Toyota executive Gary Convis, the celebrated carmaker has set into motion a drive for continuous improvement at all levels of its business. This has allowed for:
- Constant growth:Toyota increased profitability for 58 consecutive years—slowing down only in the face of 2008’s worldwide financial difficulties, the recall crisis, and the worst Japanese earthquake of the century.
- Unstoppable inventiveness:Toyota’s approach to innovative thinking and problem solving has resulted in top industry ratings and incredible customer satisfaction, while allowing the company to weather these three crises in rapid succession and to come out stronger.
- Strong branding and respect:Toyota’s reputation was instrumental in the company’s ability to withstand the recalls-driven media storm of 2010.
But what looked to some to be a sinking ship is once again running under a full head of steam. Perhaps the Toyota culture had weakened, but lean leadership was the beacon that showed the way back.
In fact, writes Liker, the company is as good and perhaps a better model for lean leadership than it ever has been. of innovation and growth. Yet,Industry Weekreports that just 2 percent of companies using lean processes can likewise claim to have had long-term success. What the other 98 percent lack is unified leadership with a common method and philosophy.
If you want to get lean, you have to take it to the leadership level.The Toyota Way to Lean Leadershipshows you how.
From smartphones and computers to blue jeans and beer, companies from China, India, Taiwan, Mexico, Turkey, and other emerging markets are now winning leading market shares with their own-branded, high-quality products—rather than with poorly produced products sold under others'' brand names. These emerging-market multinational companies (EMNCs) are giving the incumbent market leaders of North America, Western Europe, and Japan a run for their money in the areas of innovation, branding, and marketing.
How have these small, under-resourced businesses come so far so quickly? And what can you learn from their strategies and tactics?
Renowned experts in global branding and marketing, the authors ofThe New Emerging-Market Multinationalsconducted an in-depth study of 39 EMNCs to reveal the innovative compete-from-below strategies and tactics fueling these companies'' meteoric rise. The authors identify four strategies driving this growth:
- COST LEADERSleverage existing low-cost structures and large-scale volumes to extend their reach into developed markets.
- KNOWLEDGE LEVERAGERStap their existing resources and knowledge of home consumers and the market to build branded businesses in other emerging markets.
- NICHE CUSTOMIZERScombine their cost advantages in manufacturing with newly developed low-cost R&D capabilities to develop customized niche-segment branded offerings in other emerging markets.
- GLOBAL BRAND BUILDERSuse their low-cost manufacturing and R&D capabilities to build branded businesses in developed markets— but limit their focus to specific products and segments through a process of focused innovation.
Whether you run an EMNC or a developedmarket company, deep knowledge of the strategies outlined here is an absolute necessity for competing effectively now and in the future. Don''t get caught off guard by the "new kids on the block"—because today''s EMNCs are determined to be tomorrow''s market leaders.