An Ideas-Based Online Magazine of the Global Network for Advanced Management

Future of Globalization: Beyond Brexit

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?" Read all of the responses. Also, in a session at the anniversary symposium, a panel of experts—including former U.S. Secretary of State John Kerry—led a discussion of the future of globalization and its implications for business and management education. Watch the video.

The general rise of anti-globalization sentiment in the U.S. and other Western democracies had probably its most notable expression in the Brexit vote. The U.K. is on the path of leaving the European Union (EU) and entering into a yet unknown global institutional arrangement. It is difficult to overstate the magnitude of these events for firms located in the U.K. or interacting with the U.K. market, or for entrepreneurs envisioning potential projects in the country.

Access to EU markets has made the U.K. particularly attractive for firms in “Global Value Chains.” Shipping of goods along the value chain is facilitated by the single market, with firms able to purchase inputs straightforwardly from other EU countries subject to minimal non-tariff barriers. Moreover, the U.K. has been able to attract highly skilled workers, managers, and entrepreneurs from the entire EU market. Will these arrangements and location advantages be preserved? If not, what will be the characteristics of the new environment? How will they affect the firms’ capabilities and strategies? These are the challenges our students will face upon graduation. 

The teaching programs at the LSE Management Department prepare graduates for this uncertain and fast-moving global environment. We sit at the center of the global city of London, at the heart of a leading social science institution, which gives our graduates both an academic perspective and a real-world context in the social, economic and political environment. Most importantly, our teaching programs emphasize excellence, critical analysis, and innovative thinking, which are the best tools for agile and strategic leaders.