Future of Globalization: Disruptive Technologies
To coincide with the fifth anniversary of the Global Network for Advanced Management in April 2017, Global Network Perspectives asked faculty across the 29 schools in the network: "What do you think the future of globalization looks like? How will this affect the economy in your country or region? How is your school preparing students for this world?" On April 20, in a session at the Global Network for Advanced Management Fifth Anniversary Symposium, a panel of experts, including former U.S. Secretary of State John Kerry, will lead a discussion of the future of globalization and the implications for business and management education.
Expert answers by Guillermo Baquero, Associate Professor and Faculty Lead of the Master's in Management Program, ESMT Berlin
What do you think the future of globalization looks like?
2017 will be a crucial year for the future of globalization, threatened by the recent wave of economic nationalism rhetoric. Both American and British voters showed a manifest change in political sentiment, shifting away from globalization. Considering that in 2017 there are decisive elections in France and Germany, a win by National Front or Alternative for Germany could threaten the Schengen Area, further weakening the globalization pace.
How will this affect the economy in your country or region?
In spite of the financial and economic setback of the Great Recession, Germany can still be counted among the beneficiaries of globalization (as shown by the 2016 Globalization Report of the Bertelsmann Stiftung), thanks to the robust global production structure of its three main export sectors (automobile construction, mechanical engineering, and the chemical industry). The risk for Germany remains the continued reliance on its traditional manufacturing sector, given the increasing competitive pressure from manufacturing industries in emerging economies.
How is your school preparing students for this world?
The accelerated pace of globalization—coupled with digitalization—facilitates interactions and the exchange of ideas. Meanwhile, disruptive technologies threaten existing revenue streams and force companies to remain alert and innovate continuously. The future leaders will be those who embed innovation thought processes inside their organization’s DNA. Berlin embodies this new thinking. As a hub for the international startup scene, the city is home to an entrepreneurial spirit that fosters innovation. ESMT Berlin is responding to this development by offering programs that break the boundaries of classroom teaching with a deep-dive learning experience, which helps students to acquire tools that enhance creativity and boost innovation.