Due to the recent economic crisis, it is time to rethink business strategy, especially as it relates to the global environment. In 2009, the value of international trade was expected to decrease by up to 9%. Foreign direct investment fell by 15% in 2008 and a further 40% in 2009. This article predicts a difficult decade ahead with weak global growth, overcapacity pressures, persistent high unemployment, market volatility financial, more expensive capital and a significantly expanded role. governments, a much heavier burden of regulation and taxation on all, and perhaps even increased protectionism. (Ghemawat 56) This is exactly the kind of thing that the business world needs to start paying more attention to. This could even mean a greater focus on domestic markets than in recent years. Losing focus on the global economy is almost certain to be detrimental in the long run, especially as emerging markets continue to consolidate their position as global economic powers. In 2009, China was predicted to account for 66% of global GDP growth, India 11% and Indonesia 4%. (56) This trend does not appear to be slowing down any time soon. China and India's per capita incomes are expected to continue to be between half and a third of those of more advanced economies, even until 2050. This will provide enormous growth potential for these types of developing countries for many decades to come. (56) This article focuses on five strategic changes, namely strategy and competition, markets and products, operations and innovations, organization and people, and identity and reputation. Current global strategies focus on integration and treating the world as a singular unit. This however needs to change to reflect the national level...... middle of paper ...... and managing cultural differences will enable businesses to continue to be greater than the sum of their parts. It is also important to note that the reputation of companies in general is damaged due to the recent economic crisis. In the future, it will be important to shift public opinion towards a more positive mindset. I think this article focuses too much on protectionism. If governments start adopting protectionist positions, they will only hinder the growth of their respective countries and globalization will become the key to any long-term and large-scale growth. Overall, this was a very interesting article. Globalization will continue and thinking on a global scale is quickly becoming an absolute necessity. This of course explains the new orientation of the business school on global thinking and the fact that the title of our senior seminar is global strategy..