Emeritus Professor of Strategic Management

Anselmo Rubiralta Chair of Strategy and Globalization

• Ph.D. in Business Economics, Harvard University
• A.B. in Applied Mathematics, Harvard College

Pankaj Ghemawat is the holder of Anselmo Rubiralta Chair of Strategy and Globalization and Emeritus Professor in the department of Strategic Management at IESE Business School. Between 1983 and 2008, he was on the faculty at the Harvard Business School where, in 1991, he became the youngest person in the school’s history to be appointed a full professor. Ghemawat was also the youngest “guru” included in the guide to the greatest management thinkers of all time published in 2008 by The Economist.

Ghemawat’s books include “Commitment, Games Businesses Play, Strategy and the Business Landscape and Redefining Global Strategy”. IBM Chairman and CEO Sam Palmisano described the latter book as “an important strategic guidebook for leaders of the 21st century globally integrated enterprise…[with an] analytic framework is both visionary and pragmatic – aware of the broader historic trajectories of globalization, but grounded in the real kinds of decisions business leaders have to make.”

In May 2011 “World 3.0” was published by Harvard Business Review Press. Pascal Lamy, Director General of the WTO, has described it as “offering recommendations that should inspire all global stakeholders in times of major global challenges” and Peter Löscher, CEO of Siemens, as “the right book at the right time… [about] ways to make the global economy more stable – and more sustainable.” And according to The Economist, “World 3.0.should be read by anyone who wants to understand the most important economic development of our time.” “World 3.0” won the 50 Thinkers Book Award for the best business book published in 2010-2011, the Axiom Business Book Gold Award in the International Business/Globalization category and the IESE Alumni Research Excellence Award.

His new book, “The Laws of Globalization and Business Applications”, published in October 2016 by Cambridge, employs a variety of empirical methodologies to establish two broad regularities that apply to international activity at the firm, industry, and country levels and explores some of their implications for business. Dan LeClair, AACSB’s Chief Strategy and Innovation Officer said, “Nobody is more qualified and trusted to write such a book than Ghemawat, who for decades has championed clarity and truth in the subject as a leading researcher and advisor.”

Pankaj Ghemawat also developed the DHL Global Connectedness Index 2016 a comprehensive analysis of globalization and the rise of emerging markets. The report which was first released in November 2011 has available versions for 2012, the 2013 Depth Index of Globalization and the DHL Global Connectedness Index 2014. According to Pascal Lamy, “In the current global economic climate where the threat of increased protectionism and isolationist tendencies is of genuine concern, this report offers a compelling argument, based on a methodologically robust analysis, of why increased global and regional inter-connectedness and openness is the more prudent policy path.”

Ghemawat has also written more than 100 research articles and case studies, is one of the world’s best-selling authors of teaching cases, and a fellow of the Academy of International Business and of the Strategic Management Society. Other recent honors include the McKinsey Award for the best article published in the Harvard Business Review and the Irwin Educator of the Year award from the Business Policy and Strategy division of the Academy of Management.

Ghemawat helps companies and business schools better understand and address international opportunities and challenges. He served on the taskforce appointed by the AACSB, the leading accreditation body for business schools, on the globalization of management education, and authored the report’s recommendations about what to teach students about globalization, and how.

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Areas of interest

* Globalization and Strategy
* Emerging markets
* Game theory and Strategy


Journal Articles (refereed)

FINK, T., GHEMAWAT, P., REEVES, M. (2017). Searching for Great Strategies. Strategy Science, 2 (4), 272 - 281. doi:10.1287/stsc.2017.0052.
GHEMAWAT, P. (2017). Strategies for Higher Education in the Digital Age. California Management Review, 59 (4), 56 - 78. doi:10.1177/0008125617717706.
GHEMAWAT, P. (2016). Evolving Ideas about Business Strategy. Business History Review, 90 (4), 727 - 749. doi:10.1017/S0007680516000702.
GHEMAWAT, P., VANTRAPPEN, H. (2015). How Global is Your C-Suite? MIT Sloan Management Review, 56 (4), 73 - 82.
GHEMAWAT, P., DE LA MATA, T. (2013). La internacionalización Española. problemas comerciales y perspectivas. Economía Industrial (387), 109 - 118.
GHEMAWAT, P. (2010). The State of World Trade. Many Grounds for Optimism. International Trade Forum (4), 6 - 7.
GHEMAWAT, P., LLANO, C., REQUENA, F. (2010). Competitiveness and Interregional as well as International Trade: The Case of Catalonia. International Journal of Industrial Organization, 28 (4), 415 - 423. doi:10.1016/j.ijindorg.2010.03.013.
GHEMAWAT, P. (2009). The Risk of Not Investing in a Recession. MIT Sloan Management Review, 50 (3), 31 - 38.
GHEMAWAT, P., THOMAS, C. (2008). Strategic Interaction Across Countries and Multinational Agglomeration. An Application to the Cement Industry. Management Science, 54 (12), 1980 - 1996. doi:10.1287/mnsc.1080.0917.
GHEMAWAT, P. (2008). The globalisation of business education: Through the lens of semiglobalisation. Journal of Management Development, 27 (4), 391 - 414. doi:10.1108/02621710810866741.

Working Papers

GHEMAWAT, P., LLANO, C., REQUENA, F. (2009). Rethinking regional competitiveness: Catalonia's international and interregional trade, 1995-2006 (DI-802-E).
GHEMAWAT, P. (2009). Competitiveness, productivity and externalization: Food versus autos in Catalonia (DI-803-E).
RICART, J. E., ENRIGHT, M. J., GHEMAWAT, P., KHANNA, T., HART, S. L. (2003). New frontiers in international strategy (DI-532-E).
CASADESUS-MASANELL, R., GHEMAWAT, P. (2003). Dynamic mixed duopoly: A model motivated by Linux vs. Windows (DI-519-E).
PATIBANDLA, M., GHEMAWAT, P. (1998). India's Exports since the Reforms: Three Analytic Industry Studies (WP-1134-E).

Articles in other publications

GHEMAWAT, P. (2017). Globalization Under Fire: How Should Leaders Respond?. Strategic Truths for a Post-Truth World. IESE Insight (35), pp. 15 - 22.
GHEMAWAT, P. (2017). Cuánto debe cambiar tu estrategia ante el auge proteccionista. Oleada antiglobalización. IESE Insight (35), pp. 15 - 22.
GHEMAWAT, P. (2017). Globalization in the Age of Trump. Harvard Business Review, 95 (4), pp. 112 - 123.
GHEMAWAT, P., BASTIAN, P. (2017). (Anti)Globalization in Higher Education. BizEd Magazine, pp. 40 - 47.
GHEMAWAT, P. (2017). La gestión de la furia. La Vanguardia (65), pp. 6 - 17.


GHEMAWAT, P. (2018). The New Global Road Map. Enduring Strategies for Turbulent Times. Boston: Harvard Business Review Press.
GHEMAWAT, P. (2016). The Laws of Globalization and Business Applications. Cambridge: Cambridge University Press.
GHEMAWAT, P., SIEGEL, J. (2011). Cases about Redefining Global Strategy. Boston: Harvard Business Review Press.
GHEMAWAT, P. (2011). World 3.0. Global Prosperity and How to Achieve It. Boston: Harvard Business Review Press.
GHEMAWAT, P. (2009). Strategy and the Business Landscape. Harlow, England: Prentice Hall.

Edited books

ARIÑO, A., GHEMAWAT, P., RICART, J. E. (2005). Creating value through international strategy. Basingstoke [England]: Palgrave Macmillan.

Book Chapters

GHEMAWAT, P. (2017). Why managers still need to take account of comparative advantage. In Simon Evenett (Ed.), Cloth for Wine? The Relevance of Ricardo's Comparative Advantage in the 21st Century (pp. 87 - 94). London: Centre for Economic Policy Research (CEPR).
GHEMAWAT, P. (2016). The Global Infrastructure Development Sector. In Ingo Walter (Ed.), The Infrastructure Finance Challenge (pp. 47 - 52). Cambridge: Open Book Publisher.
GHEMAWAT, P., REICHE, S. (2016). Cultural distance and national cultural differences. In Pankaj Ghemawat (Ed.), The Laws of Globalization and Business Applications (pp. 239 - 279). Cambridge: Cambridge University Press.
GHEMAWAT, P., HOUT, T. M. (2016). Globalization, Capabilities, and Distance: Theory and a Case Study (of China). In David J. Teece and Sohvi Leih (Ed.), The Oxford Handbook of Dynamic Capabilities (pp. 1 - 32). Cape Town: Oxford University Press.
GHEMAWAT, P., VAN DEN STEEN, E. J. (2015). Irreversibility. In Mie Augier and David J. Teece Basingstoke (Ed.), The Palgrave Encyclopedia of Strategic Management. Basingstoke [England]: Palgrave Macmillan.


ALTMAN, S., GHEMAWAT, P., BASTIAN, P. (2019). DHL Global Connectedness Index 2018. The State of Globalization in a Fragile World.
GHEMAWAT, P., ALTMAN, S. (2016). DHL Global Connectedness Index 2016. The State of Globalization in an Age of Ambiguity.
GHEMAWAT, P., ALTMAN, S. (2014). DHL Global Connectedness Index 2014. Analyzing global flows and their power to increase prosperity.
GHEMAWAT, P., ALTMAN, S. (2013). Depth Index of Globalization 2013. And the Big Shift to Emerging Economies.
GHEMAWAT, P. (2013). Globalization and Global Problem Solving. Five Basic Design Principles.


GHEMAWAT, P., ALTMAN, S., STRAUSS, R. (2013). WPP and the Globalization of Marketing Services. IESE, SM-1600-E.
GHEMAWAT, P., ALTMAN, S. (2011). The Indian IT Services Industry in 2007. CAS-71-E.
GHEMAWAT, P., MARCIANO S. (2006). De Beers at the Millennium. CAS-51-E.
GHEMAWAT, P., KIRON D., KNOOP C. I. (2005). AmorePacific: From Local to Global Beauty. CAS-44-E.
GHEMAWAT, P., HOUT, T. M., SIEGEL, J. (2005). Haier's U.S. Refrigerator Strategy 2005. CAS-70-E.

Technical Notes

GHEMAWAT, P., REICHE, S. (2022). National Cultural Differences and Global Business. IESE, DPON-359-E.