Publications

Book Chapter

From where we are today, the Internet appears to be a multi-access, multi-media, many-to-many, global communications standard and network that interconnects, at relatively low unit costs, spatially dispersed entities and digital information sets.

The durability of this characterization aside, there is wide consensus that this emerging technology will be of great consequence to business and society. In the international arena the emergence and growing adoption of the Internet has prompted some to proclaim the "death of distance" and anticipate "born global" firms that can claim worldwide reach right at inception.

In contrast, and particularly in the current post-Internet hype period, others foresee only "business as usual." How should firms regard these contrasting projections? In particular, should firms–both recently founded dot-coms and established multinationals–think differently about global strategy in an Internet era? And if so, how and why? It is too soon to answer these questions with much certitude.

However, based on what we know about global strategy, the author attempts to speculate tentatively upon them, contending that the Internet should be viewed within a broader economic, technical, social, and political context. Seen this way, the hype surrounding the Internet gives way to more sober analysis and expectations. While the Internet is likely to reinforce globalization trends at a macro level, it is unlikely to change the essence of global strategy at the micro level.