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	Competing in a Flat World: Building Enterprises for a Borderless World by Victor K. Fung, William K. Fung, Yoram Jerry Wind
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Product Details Binding Hardcover Dewey Decimal Number 658.500285 EAN 9780132332903 ISBN 0132332906 Manufacturer Wharton School Publishing Number Of Items 1 Number Of Pages 272 Publication Date September 22, 2007 Publisher Wharton School Publishing Availability Usually ships in 7 to 11 days Product Description This is the eBook version of the printed book. In the 'flat world,' everything changes...above all, what it takes to run a winning company. Success is less about what the company can do itself and more about what it can connect to. Find out how it's done, from the company that pioneered 'flat world' success, Li & Fung, which produces more than $8 billion in garments and other goods for the world's top brands and retailers -- without owning a single factory. Victor and William Fung and Jerry Wind, author of the best-selling The Power of Impossible Thinking, reveal how they've replaced 'old-fashioned' infrastructure and huge employee bases with a fluid, ever-changing network that can design, manufacture, and deliver almost anything, anywhere. The key to success in this world is a set of principles for 'network orchestration,' described for the first time in this book. They examine how these principles can be applied in manufacturing, services and other industries. They show how to build and orchestrate your own world-class global network. Compete 'network vs. network' and win! Create a 'big-small' company that combines scale and agility. Forge loose-tight relationships with suppliers. Balance control with empowerment, stability with renewal. Manage the 'bumps' in the flat world -- from politics to terrorism. This is the eBook version of the printed book. In the 'flat world,' everything changes...above all, what it takes to run a winning company. Success is less about what the company can do itself and more about what it can connect to. Find out how it's done, from the company that pioneered 'flat world' success, Li & Fung, which produces more than $8 billion in garments and other goods for the world's top brands and retailers -- without owning a single factory. Victor and William Fung and Jerry Wind, author of the best-selling The Power of Impossible Thinking, reveal how they've replaced 'old-fashioned' infrastructure and huge employee bases with a fluid, ever-changing network that can design, manufacture, and deliver almost anything, anywhere. The key to success in this world is a set of principles for 'network orchestration,' described for the first time in this book. They examine how these principles can be applied in manufacturing, services and other industries. They show how to build and orchestrate your own world-class global network. Compete 'network vs. network' and win! Create a 'big-small' company that combines scale and agility. Forge loose-tight relationships with suppliers. Balance control with empowerment, stability with renewal. Manage the 'bumps' in the flat world -- from politics to terrorism. “This is essential reading for anyone seeking to compete–and succeed–in the fl at world.” –John Hagel, Chairman of Deloitte Center of Innovation “Competing in a Flat World provides an extraordinary glimpse into a new kind of organizational architecture, one built around the notion of orchestrating resources you don’t control and doing so in a way that builds both trust and agility. This architecture may well turn out to be the dominant model of the firm for the 21st century. This book is a must read for anyone who wants to compete in a flat world. Every chapter details new and powerful ideas.” –John Seely Brown, Former Chief Scientist of Xerox Corporation and coauthor of The Only Sustainable Edge “We are led by unstoppable economic forces to connect our resources to form smart networks, either wired or unwired. The authors bring forward the notion of ‘network orchestration,’ an almost one-size-fits-all strategy for organizations to survive and excel in an ever-flattening world.” –John Chen, Sybase Chairman, CEO and President In the “flat world,” everything changes…above all, what it takes to run a winning company. Success is less about what the company can do itself and more about what it can connect to. Find out how it’s done, from the company that pioneered “flat world” success, Li & Fung, which produces more than $8 billion in garments and other goods for the world’s top brands and retailers–without owning a single factory. Victor and William Fung and Jerry Wind, author of the best-selling The Power of Impossible Thinking, reveal how they’ve replaced “old-fashioned” infrastructure and huge employee bases with a fluid, ever-changing network that can design, manufacture, and deliver almost anything, anywhere. The key to success in this world is a set of principles for “network orchestration,” described for the first time in this book. They examine how these principles can be applied in manufacturing, services and other industries. They show how to build and orchestrate your own world-class global network. * Compete “network vs. network”–and win! * Create a “big-small” company that combines scale and agility * Forge loose-tight relationships with suppliers * Balance control with empowerment, stability with renewal * Manage the “bumps” in the flat world–from politics to terrorism Visit the authors' website: www.competinginaflatworld.net Dr. Victor K. Fung is Group Chairman of Li & Fung. He is Vice Chairman of the International Chamber of Commerce. He holds a Ph.D. from Harvard. Dr. William K. Fung is Group Managing Director of Li & Fung. He has chaired the Hong Kong General Chamber of Commerce and the Hong Kong Exporters’ Association. He holds an MBA from Harvard Business School. Yoram (Jerry) Wind, the Lauder Professor and Professor of Marketing at The Wharton School, University of Pennsylvania, is an expert, consultant, and lecturer on business buying behavior, market segmentation, and marketing strategy. His books include The Power of Impossible Thinking. He holds a Ph.D. from Stanford University. Preface Preface Competing Flat Out As Thomas Friedman points out in The World Is Flat, a convergence of technology, globalization, and other forces has transformed the way we work. India, China, and other countries are an increasingly significant part of the global supply chain for manufacturing and services.¹ Geography, while not irrelevant, is no longer the obstacle it once was, and companies can stretch their manufacturing, customer service, and other business processes around the globe. This dispersion of the supply chain creates tremendous opportunities to change the way we do business in this world, and how we design and run our companies—if we are prepared to rise to this challenge. Li & Fung was working in this flat world since the early 1980s, long before it had a name, and now produces more than two billion pieces of apparel, toys and other consumer items every year. Li & Fung now accounts for more than US$8 billion in garments and consumer goods for some of the best brands in the world. By the time of its one-hundredth anniversary in 2006, Li & Fung had become the world's largest sourcing company, growing at a compound annual rate of 23 percent for the last 14 years. Yet Li & Fung does not own a single factory. It is a flat business for a flat world. The company started as a trading broker in Guangzhou (Canton) in 1906 during the Qing Dynasty and transformed itself into a Hong Kong–based exporter and then into a multinational corporation. Finally, the company reinvented itself for the flat world in a new role, as a 'network orchestrator.'² It is now the orchestrator of a network of more that 8,300 suppliers served by more than 70 sourcing offices in more than 40 countries and territories. The company indirectly provides employment for more than two million people in its network of suppliers, but only less than half a percent of these are on Li & Fung payroll.³ With this lean structure, each of the company's own employees generates about US$1 million in sales, earning a return on equity of more than 38 percent per year. As a family firm at the intersection of the East and West, the company is both deeply traditional and thoroughly modern. Recognizing its creative thinking and use of technology, Wired magazine placed Li & Fung among young upstarts such as Google, Apple, and Amazon on its 2005 'Wired 40' list. Over the years, Li & Fung's innovations have attracted attention, from business school case studies to magazine articles and books.⁴ Now we are pleased to share more detailed insights from the transformations at the company and examine how they can help other enterprises to compete in a flat world. Victor and William Fung pioneered these transformations in the trading company founded by their grandfather, Mr. Fung Pak-liu. Wharton professor Jerry Wind has worked with them since 1998 on the company's triannual strategic review process and also offers broader perspectives from research and practice. The flat world has ripped the lid off the corporation. It has broken through traditional national and organizational borders. It challenges the way we look at and run everything from enterprises to nations. Companies in manufacturing will find these innovations and shifts in thinking directly relevant. But the impact is not limited to manufacturing or to companies with offshore activities. The principles of network orchestration are relevant to any organization and industry (including services) that wants to take advantage of the opportunities presented by the forces flattening our world. The principles of network orchestration, discussed in this book, have applications in many areas, from managing strategic alliances (which have a poor track record of success) to services, to open innovation, to comarketing.⁵ As you read this, freighters and cargo planes are churning across the planet. High-speed information networks are whisking voice and information, and billions of dollars, instantaneously around the world. Looking down from the Li & Fung conference room on the thirty-fourth floor of Alexandra House, where we worked on the book, we could see the freighters steaming in and out of Hong Kong harbor. It is a hive of activity, and the pace of commerce just keeps increasing and evolving in new ways. Every day the view changes. It has been a tremendous adventure and education to have such a ringside seat on the emergence of this flat world and to be an active participant in its development. These freighters are connecting points of the globe that have never been connected, in new and changing configurations. The ships and planes streaming across the world are rewiring the neural networks of commerce. How does your own thinking need to change to keep pace? Have you understood the implications of the flat world for your own business? The flat world is here. Organizations that can embrace it and understand how it works will find that it offers many new opportunities. Those that cannot adapt quickly enough to these new realities will fall behind or be bought out by those that have learned how to compete in a flat world. The opportunities are as broad as the world. How do you need to remake your organization, management, and mindset to seize these opportunities? Victor Fung William Fung Yoram (Jerry) Wind © Copyright Pearson Education. All rights reserved. Accessories We Are Smarter Than Me: How to Unleash the Power of Crowds in Your Business The Coming China Wars: Where They Will Be Fought and How They Can Be Won, Revised and Expanded Edition Africa Rising: How 900 Million African Consumers Offer More Than You Think Customers who bought this item also bought The World Is Flat 3.0: A Brief History of the Twenty-first Century Redefining Global Strategy: Crossing Borders in a World Where Differences Still Matter The Global Brain: Your Roadmap for Innovating Faster and Smarter in a Networked World The Future of Management Wikinomics: How Mass Collaboration Changes Everything Customer Reviews for: Competing in a Flat World: Building Enterprises for a Borderless World Rating - The idea is nice, but what happens when your musicians form a competing orchestra? Yes, the global communications and logistics systems does make it easier and even necessary to involve the globe in your manufacturing, marketing, and distribution systems. The idea of the "Flat World" is now in everyone's vocabulary, but I think it is a bit overdone. Just because information CAN be communicated anywhere, made in more places than ever before, and shipped from and to almost anywhere, does not mean that anywhere is equivalent everywhere. Still, I think this book is interesting in the way they ... Read More Rating - Strategic and Operating Principles of Supply Chain Orchestration What is supply chain orchestration? It's an outsourced service that some use in fragmented supply markets to have someone else select and manage a supply chain for each purchase order. For example, a retailer wants to offer a supply of pants in various styles and sizes. Rather than bid among hundreds of suppliers for raw material, zippers, buttons, sewing, and packaging, the retailer might hire a supply chain orchestrator to perform those roles for a fixed price per garment. Although buying the supplies well would save some ... Read More Rating - How to Thrive Through a Sustainable Network Amid the Ongoing Pressures of Globalization Victor and William Fung, group chairman and group managing director respectively of a Hong Kong-based multinational corporation specialized in sourcing, have partnered with Jerry Wind, a Wharton marketing professor and co-author of the illuminating The Power of Impossible Thinking: Transform the Business of Your Life and the Life of Your Business (2005) about strategic inflection points, to provide an exceptional how-to book focused on drilling down globalization to the level of existing businesses. The Fung brothers are authorities ... Read More Rating - The way modern manufacturing processes are performed, international in scope and based on many relationships The phrase, "flat world" is one of those that would have been best left unused, substituted by a more accurate one. In databases, a flat file is one where the data is in one large file with no relationship connections. When there are multiple entities with connections between them, we use the term relational database. Also, the phrase "flat world" seems to mean that everyone operates on the same level surface, which is hardly the case. There are now and always will be advantages to locating specific business activities in one location ... Read More Rating - Bringing value by orchestrating the value chain... Li & Fung may be the biggest company you've never heard of, but it's likely you use things that have been touched by them at some point every day. In the book Competing in a Flat World: Building Enterprises for a Borderless World, Dr. Victor K. Fung, Dr. William K. Fung, and Yoram (Jerry) Wind examine the unique business model of the company, and how it succeeds in today's competitive environment. Contents: Preface: Competing Flat Out The Orchestration Imperative Part 1 - Focus - Firm and Network: Orchestrate ... Read More see more reviews See all books by author Victor K. Fung, William K. Fung, Yoram Jerry Wind

Books : Competing in a Flat World: Building Enterprises for a Borderless World

Preface

Competing Flat Out