Globalization frustrated: The case of white goods
基于欧洲家电业数据，研究显示经济条件变化（如需求多样化、制造规模缩小）会削弱全球战略的价值，使国家战略更有利可图，企业成败主要源于战略选择而非国家要素成本。
Abstract This paper challenges the common view that mature industries are always ripe for global strategies. Based on data from the European Domestic Appliance industry, this paper shows how changing economic conditions can diminish the value of global strategies. Critical in these shifts were simultaneous rises in demand for variety (that eroded the benefits of scale and continental market share) and decreases in manufacturing scale (that permitted new supply options), which reduced the extent of the strategic market to national dimensions. They added complexity that decreased the profitability of the global players and increased that of national strategies. The fluctuating fortunes of leading firms are shown to have been caused primarily by choices of strategy, not by national factor costs.