Lester Thurow On Strategy for the Global Economy

Lester Thurow offers an interesting vantage point on business strategy in today's rapidly changing global economy. Read on.

Today, companies, regardless of their size, no longer find it profitable to look in their backyard for doing business. Instead, they must participate in the global economy in order to find the least expensive place to do make their products and or the most profitable places to sell their products.

In his new book, Fortune Favors the Bold: What We Must Do to Build a New and Lasting Global Prosperity (HarperCollins), Lester Thurow argues that globalization isn't a done deal, and we must seize the moment now if we're to create a new global economy in which all can prosper. Thurow, a professor of management and economics at Massachusetts Institute of Technology, says, "Large technology companies need to do a better job of operating in different countries, different cultures, different environments, and integrating different cultures into one company. The question is how to do you all of this. These tasks are changing the business model for everyone."

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