The MNC [multinational corporation] of the late twentieth century had little in common with the international firms of a hundred years earlier, and those companies were very different from the great trading enterprises of the 1700s. The type of business organization that is now emerging—the globally integrated enterprise—marks just as big a leap.
—Sam Palmisano, Chairman and CEO, IBM, “The Globally Integrated Enterprise” (2006)
COMPARE THE WORDS of Sam Palmisano with those of Ted Levitt at the beginning of chapter 1. Levitt was clearly excited about the globalization of markets. What Palmisano is excited about, in contrast—I’ve had a chance to check this with him—is the globalization ...