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Smart Globalization is a compendium of leading-edge thinking on global strategy first published in the acclaimed MIT Sloan Management Review. The central premise underlying this book is that globalization can be a double-edged sword. The global or globalizing firm has the potential to reap several types of benefits such as the vast potential of a much larger market arena, opportunities to capture scale- and location-based cost efficiencies, and exposure to a multiplicity of new product and process ideas. However, globalization also exposes the firm to numerous strategic and organizational challenges emanating from a dramatic increase in diversity, complexity, and uncertainty - external as well as internal to the firm. How managers address these challenges determines whether globalization yields competitive advantage or disadvantage and makes the company stronger or weaker. "Smart" globalization is the ability to capture the benefits and minimize the costs and risks. Smart Globalization's expert contributors3/4leaders in the design of winning global strategies and in the creation of effective global networks3/4include: David J. Arnold, Christopher A. Bartlett, Julian M. Birkeinshaw, J. Stewart Black, Joseph N. Fry, Sumantra Ghoshal, Vijay Govindarajan, Hal B. Gregersen, Anil K. Gupta, Stuart L. Hart, W. Chan Kim, Bruce Kogut, David L. Levy, Renee A. Mauborgne, Allen J. Morrison, Mark B. Milstein, Das Narayandas, John A. Quelch, Gordon Swartz, Stephen E. Weiss, and George S. Yip.