The McKinsey Quarterly

2011

• June 2011 

  Sumo wrestles with globalization

  The sport embodies the soul of Japan. Yet the number of Japanese recruits dwindles, and international talent is filling the gap. Why?

2010

• September 2010 

  A truer picture of China’s export machine

  China’s growth depends less on exports than conventional wisdom suggests.

• August 2010 

  Can Africa continue to grow?

  A panel of regional business leaders discusses its prospects.

  Includes:

• June 2010 

  Building a second home in China

  Multinational companies hoping to succeed in China can’t treat it as an interesting side bet any longer; they need to take China as seriously as they do their home market.

• June 2010 

  Global forces: An introduction

  Five crucibles of change will restructure the world economy for the foreseeable future. Companies that understand them will stand the best chance of shaping it.

  Includes:

• June 2010 

  Globalization’s critical imbalances

  Future financial crises could accelerate the rebalancing of global economic activity from developed to emerging markets.

• June 2010 

  The great rebalancing

  As the center of economic growth shifts from developed to developing countries, global companies should focus on innovation to win in low-cost, high-growth countries. Their survival elsewhere may depend on it.

• June 2010 

  The market state

  Governments around the world are facing complex, difficult decisions. Business leaders would do well to work with them to develop solutions.

• May 2010 

  China’s state capitalism and multinationals: An interview with the president of Eurasia Group

  Ian Bremmer discusses the changing rules of competition in China, where the state is the principal actor and arbiter in the economy.

  Includes:

• May 2010 

  Five forces reshaping the global economy: McKinsey Global Survey results

  The core drivers of globalization are alive and well, but executives are still grappling with how to seize the opportunities of an interlinked world economy.

• April 2010 

  Building the next-generation business leader

  Garth Saloner, dean of Stanford University’s Graduate School of Business, discusses the challenge business schools face in educating students for a new world of companies without borders.

  Includes:

• April 2010 

  South Korea: Finding its place on the world stage

  Five essays from leading thinkers explore the country’s present and future.

• January 2010 

  A lighter touch for postmerger integration

  Some Asian companies take a different approach to M&A outside their borders.

2009

• August 2009 

  Strengthening India’s offshoring industry

  India’s technology and business services industry can defend and even expand its global market share, but only if it learns to innovate.

• July 2009 

  State capitalism and the crisis

  Despite massive state interventions in economies around the world, many corporate leaders and investors act as though globalization remains the dominant paradigm. That is a mistake.

• July 2009 

  Understanding China’s wealthy

  China will soon be home to the world’s fourth-largest population of wealthy households. Companies that hope to reach them must understand how they differ from their counterparts elsewhere, from other Chinese consumers, and from one another.

• June 2009 

  ‘Power curves’: What natural and economic disasters have in common

  Parallels between the failures of man-made systems, such as the economy, and of similarly complex natural ones offer fascinating food for thought.

• June 2009 

  Weighing the US government’s response to the crisis: A dialogue

  In this second installment of a three-part series, Professor Richard Rumelt and McKinsey's Lowell Bryan discuss the prospects for the economy, companies, and workers.

  Includes:

• May 2009 

  Beyond economics: Factoring politics into investment strategies

  Ian Bremmer discusses how businesses can limit risk exposure to political shocks.

  Includes:

• March 2009 

  A new world disorder

  Political-risk consultant Ian Bremmer discusses how the downturn is reshaping globalization.

  Includes:

• January 2009 

  China and India: The power of complementary cultures

  Tarun Khanna says their common optimistic entrepreneurialism makes them a formidable force.

  Includes:

• January 2009 

  What’s holding China back?

  Former trade negotiator Long Yongtu discusses China’s globalization challenge.

  Includes:

2008

• December 2008 

  A fresh look at strategy under uncertainty: An interview

  Although even the highest levels of uncertainty don’t prevent businesses from analyzing predicaments rationally, says author Hugh Courtney, the financial crisis has shown us the limits of our tools—and minds.

• December 2008 

  Klaus Kleinfeld on the global downturn

  Alcoa’s CEO sees risks in antibusiness rhetoric, but also a chance for speedier recovery.

  Includes:

• December 2008 

  Leading through uncertainty

  The range of possible futures confronting business is great. Companies that nurture flexibility, awareness, and resiliency are more likely to survive the crisis, and even to prosper.

• November 2008 

  Growth and stability in China: An interview with UBS’s chief Asia economist

  Will the country’s economic fortunes fade as growth elsewhere declines? Jonathan Anderson doesn’t think so.

  Includes:

• November 2008 

  Nurturing entrepreneurship in India’s villages

  The world’s great cities and the professionals who live in them are linked more tightly to one another than they are with their own rural hinterlands. Yet true prosperity starts in the countryside.

• October 2008 

  Seven ways China might surprise us in 2009

  The country could yet again change the way the world sees it. Here’s a shortlist of realistic possibilities.

• September 2008 

  Transforming a South Korean chaebol: An interview with Doosan’s Yongmaan Park

  Yongmaan Park discusses the forces that changed the company’s core business and led to South Korea’s largest foreign acquisition.

• August 2008  

  The growing opportunity for investment banks in emerging markets

  As gloom besets capital markets in the developed world, the prospects of emerging ones continue to shine.

• July 2008 

  A growth strategy for a Chinese state-owned enterprise: An interview with ChemChina's president

  Ren Jianxin explains how domestic acquisitions helped prepare the way for overseas ones.

• July 2008 

  Cleaner energy for China: An interview with the chairman of ENN Group

  In a country with a major pollution problem, Wang Yusuo is trying to build a part of the solution.

• July 2008 

  How corporate China is evolving

  China’s business landscape is changing rapidly. So must the way we comprehend it.

• July 2008 

  How to address China’s growing talent shortage

  The imbalance between business opportunities in China and qualified executives to manage them will get worse—a lot worse—before it gets better.

  Includes:

• July 2008 

  Reassessing China's state-owned enterprises

  China’s state-owned companies, like China itself, are diverse. Many of them would make better partners for multinationals than some of their private-sector counterparts. Openness, not ownership, is the key.

• July 2008 

  The cost of going global for China’s high-tech companies

  Chinese technology companies are competing successfully on their home turf. Global markets may be another story, at least in the short run.

• June 2008 

  China’s track record in M&A

  China’s companies are expanding the focus of their outbound M&A, but so far they have struggled to create value.

  Includes:

• June 2008 

  Global investment strategies for China’s financial institutions

  Chinese financial institutions are flush with money at an opportune moment. They should resist the urge to build empires and instead focus on advancing their skills and global experience.

• May 2008 

  A pioneer in Chinese globalization: An interview with CIMC's president

  A company that has already disrupted the container business is moving into transportation equipment and services.

• May 2008 

  Competition from China: Two McKinsey Surveys

  Executives around the world expect competition from Chinese companies to increase, mainly because of their low production costs, yet surprisingly few are acting to meet the threat, a McKinsey survey shows. A separate survey of executives based in China reveals widespread global ambitions and concerns about finding the talent to reach them.

• May 2008 

  How Chinese companies can succeed abroad

  Chinese companies are seeking opportunities abroad. They will have to acclimate to new surroundings—just as the foreign companies that entered China did.

• May 2008 

  Selling China’s cars to the world: An interview with Chery’s CEO

  Yin Tongyao explains how his fledgling automotive company learned to profit from adversity.

• April 2008 

  How companies act on global trends: A McKinsey Global Survey

  Executives say that global trends have become increasingly important, but few companies are addressing them successfully.

• April 2008 

  The growing role of emerging markets in aerospace

  Manufacturers in developing markets are already helping aircraft makers in developed ones to cut costs. That's just the beginning.

  Includes:

• March 2008 

  The multilocal challenge: Managing cross-border functions

  Companies are learning to adapt their organizational design to capture cross-border synergies and to protect local sources of profitability.

• February 2008 

  A political education for business: An interview with the head of the Council on Foreign Relations

  Richard Haass says that businesses have much to learn from government as they compete in an increasingly complex global landscape.

2007

• November 2007 

  Act global, think local

  When companies globalize, executives must anticipate the reaction at home. Norsk Hydro President and CEO Eivind Reiten explains why.

  Includes:

• November 2007 

  Bringing best practice to China

  As the country merges into the world economy, best practice in China will become best practice globally, products developed in China will become global products, and industrial processes developed in China will become global processes.

  Includes:

• November 2007 

  The impact of Asia’s emerging middle class

  Executives may be underestimating the effect on their businesses of so many new middle class consumers.

  Includes:

• May 2007 

  Betting on biofuels

  The industry is still in its infancy but evolving rapidly. Companies that hope to compete must devise their entry strategy now.

• April 2007 

  What’s ahead for business in Brazil

  The economy is more stable that it's been in quite a while, and many industries are riding high—for the time being.

• April 2007 

  When Chinese companies go global: An interview with Lenovo’s Mary Ma

  CFO Ma describes the unique challenges awaiting Chinese companies that seek growth through international acquisitions.

• March 2007 

  Building global champions in Latin America

  The region’s companies will fulfill their potential abroad only if they pursue clear global aspirations and find systematic ways to develop their talent and integrate cultures and organizations.

• March 2007 

  Five priorities for Brazil's economy

  To enter the ranks of the world’s leading economies, the country must remove entrenched barriers to productivity.

• March 2007 

  Gulf telcos: Managing expansion better

  Profitable businesses at home have led Gulf telcos to expand nearby regions. But success abroad will require a whole new set of skills.

• March 2007 

  How Gulf companies can build global businesses

  Companies based in the GCC states are using their petrodollars to expand into global markets. But in the long run, these companies will have to develop distinctive capabilities and skills.

• March 2007 

  What executives are asking about Latin America

  Latin America's economy may not be growing as quickly as those of China or India, but it presents real opportunities, and the political risks are often exaggerated.

• February 2007 

  China’s state-owned enterprises: Board governance and the Communist Party

  As the state-owned sector attracts strategic investors, they find themselves befuddled by the role of an almost invisible power: the Communist Party.

• February 2007 

  Doing business in China: A McKinsey Survey of executives in Asia

  Surprisingly few companies have any operations in China today, but the vast majority expect to be doing business with the country within five years.

• February 2007 

  Global trends in energy

  Energy and materials companies face a demanding future. They must start preparing for it now.

• February 2007 

  Moving energy-intensive industries to the Gulf

  Multinational producers of energy-intensive commodities must rethink their approach to crafting deals in the Gulf.

• January 2007 

  Beyond oil: Reappraising the Gulf States

  Further reform will be essential if one of the world’s fastest-growing regions is to seize a broader role in the global economy.

2006

• June 2006 

  What executives are asking about China: From entry to execution

  The head of McKinsey's offices in China answers the questions that senior managers of multinational companies are asking.

• January 2006 

  Ten trends to watch in 2006

  Macroeconomic factors, environmental and social issues, and business and industry developments will all profoundly shape the corporate landscape in the coming years.

2005

• September 2005 

  How India's executives see the world

  Business leaders across India share an upbeat vision of the future while recognizing the obstacles ahead.

• September 2005 

  What executives are asking about India

  The head of McKinsey's Indian offices addresses the concerns of senior multinational executives.

• May 2005 

  Global champions from emerging markets

  Developing economies have become an invaluable springboard for companies looking to compete successfully abroad.

2004

• December 2004 

  China and India: The race to growth

  The world’s two biggest developing countries are taking different paths to economic prosperity. Which is the better one?

• December 2004 

  Facing China

  The country’s emergence as an economic power is changing the way people and companies everywhere live and work.

• December 2004 

  What executives are asking about China

  The head of McKinsey’s office in China answers the senior executive’s most pressing questions about doing business there.

  Includes:

• August 2004 

  Governing globalization

  The public and private sectors must collaborate closely to ensure that all workers benefit from the global economic integration.

• July 2004 

  A guide to doing business in China

  China lends itself to sweeping statements about the nature of doing business there. Most are unfounded.

• July 2004 

  The McKinsey Global Survey of Business Executives , July 2004

  The second McKinsey Global Survey of Business Executives finds that corporate leaders are still confident—especially about hiring, IT spending, China, and India—though they’ve tempered their earlier enthusiasm.

• July 2004 

  Understanding the Chinese consumer

  Laurent Philippe, the head of Procter & Gamble in China, explores how to beat the competition in the country’s huge and complex market.

• May 2004 

  Offshoring goes on the offensive

  Cost cutting is only the first benefit.

• February 2004 

  Corporations as global citizens

  Global corporations and the developing countries where they invest actually have symbiotic objectives.

2003

• December 2003 

  Offshoring and beyond

  Cheap labor is the beginning, not the end.

• December 2003 

  The next hurdle for Indian IT

  The cofounder and chairman of one of India’s premier technology companies argues that it has a sustainable competitive advantage.

• August 2003 

  China's refrigerator magnate

  Zhang Ruimin, CEO of the Haier Group—the Chinese company that is the world’s fifth-biggest maker of white goods—describes his plan to create a global brand.

2002

• August 2002 

  Taking Tesco global

  David Reid, deputy chairman of Tesco, the United Kingdom’s largest grocer (2002), explains his international strategy.

• June 2002 

  Preparing for a financial crisis

  Companies can do much to avoid falling victim to sudden national financial emergencies. Although the tally of such events is rising, many businesses remain unprepared for them.

• February 2002 

  Winning Asian strategies

  Although executives in Asia distrust Western corporate strategies, its top-performing corporations have already adopted at least some of them.

2001

• October 2001 

  Whither globalization?

  The war on terrorism may change the shape and pace of economic integration. But the fundamental human forces that drive it will not be dislodged.

• May 2001 

  Lawyers get down to business

  New pressures are hitting the legal industry. Now is the time to think through your strategy.

2000

• May 2000 

  What the WTO really means for China

  Membership in the World Trade Organization will make China more open to multinationals. Though industries such as banking and insurance may be transformed, in many sectors China’s accession to the WTO will have little effect. Nor is membership a done deal—in either China or the United States.

1999

• November 1999 

  Dialog: Can a company ever be too big?

  Some people believe that "it is different this time." Others don't.

• November 1999 

  Getting to global

  As globalization continues to play out over the next 30 years, geographic and regulatory barriers will fall, electronic distribution will start to parallel and even overtake physical distribution, installed capacity will become obsolete before it is depreciated, and focused competitors will attack like piranhas. Companies must restructure or die.

• August 1999 

  Are you taking your expatriate talent seriously?

  To make the most of overseas opportunities, multinational companies must pay closer attention to the problems of executives transferred into them.

• August 1999 

  Retailers to the world

  A “virtuous cycle” of self-reinforcing benefits will permit certain companies to redefine—and control—the industry. Even so, retailers still have enough time to build cross-border positions and local-market defenses.

• February 1999 

  Global beer: What’s on Tap?

  The brewers, if not the beer, won’t all be alike; they are beginning to consolidate around segments of the business.

• February 1999 

  World Power & light

  The forces driving globalization are strong, but they will take time to play out. Already, meter reading is becoming a stand-alone business. Huge opportunities arise from huge productivity gaps: the best utilities lose 7 percent of the electricity they transmit, the worst 17 percent.

1998

• August 1998 

  Corporate strategy in a globalizing world: The market capitalization imperative

  Many companies still want to be big fish in national ponds. But that won’t generate the high market values that will keep them independent. Nothing matters more than return on equity.

• August 1998 

  Gold from noodles

  Can you make money in China’s packaged food market? There are many recipes for disaster. Three lessons: price for high affordability, rush for scale, and invest in people, not assets.

1997

• November 1997 

  Emerging market alliances: Must they be win-lose?

  Alliances between global companies and their partners in emerging markets are often difficult and unstable.

• May 1997 

  What’s new about globalization?

  A “superconductor” of knowledge and capital is about to reach the right temperature. A $21 trillion dollar market will emerge—with no natural owners. The challenge will be to leverage brands, ideas, and people. The biggest opportunities will be the ones that look most local.

1996

• November 1996 

  Rolling out the red carpet

  Prithvi Raj Singh ("Biki") Oberoi, then (1996) the Oberoi Group’s managing director, explains how his family built a global hospitality business.

• May 1996 

  Buy stocks, shun bonds

  There’s new evidence that global capital markets are becoming a reality. They will drive the transfer of technology and managerial know-how across borders. A series of major bond crises is likely.

• May 1996 

  Winning China’s consumer market in the 21st century

  China’s market for fast-moving consumer goods has exploded over the past decade. And as millions of households cross the income threshold for packaged goods consumption, the market is likely to continue to outpace growth in the overall economy.

• February 1996 

  Global retailing: Tempting trouble?

  Huge markets await, but profit formulas often get distorted. What won’t work: a standalone approach, inflexible purchasing, and 100% ownership. Three new expansion strategies.

1995

• May 1995 

  Solving the puzzle: MNCs in China

  New approaches to managing joint ventures. MNCs now seeking clear equity control. Why you may need a China corporate center.

1994

• May 1994 

  Building—and rebuilding—a global company

  Thomas J. Bata, then (1994) chairman of Bata Shoes, discusses the challenges of staying the course during a century of political turmoil.

1993

• November 1993 

  Born global

  A new breed of Australian firm shows that it is possible to succeed in world markets without an established domestic base.

• November 1993 

  Second generation MNCs in China

  A survey of MNCs successfully committed to China shows that they have progressed far beyond the cautious experimental stage.

• August 1993 

  The road ahead for Asia’s leading conglomerates

  As regional growth blossoms, past approaches to strategic and organizational success may no longer be adequate.

• May 1993 

  Seeding plants for a global harvest

  Successful manufacturers site their plants to build a global network of strategic capabilities.