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World 3.0: Global Prosperity and How to Achieve It by Pankaj Ghemawat

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Chapter Fourteen

Business in World 3.0

NATIONAL GOVERNMENTS' jurisdictional and historical legacies condition them to start from the World 1.0 perspective, and only with prodding do they embrace the World 3.0 dual roles of integrator and regulator. By contrast, business leaders tend to be among the most ardent supporters of World 2.0 because of the seemingly limitless opportunities for profit that it promises. But when World 2.0's exaggerations run up against the reality of semiglobalization, the results disappoint. Companies that fail to respect the law of distance suffer performance penalties, and inflict collateral damage on society at large. Companies with a greater appreciation for differences can perform better both from a private and ...

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