The rise of the corporate
colossus threatens both competition and the legitimacy of business
경쟁과비즈니스의정당성을위협하는초특급기업의등장
Sep 17th 2016 | From the print
edition
DISRUPTION may be the buzzword in
boardrooms, but the most striking feature of business today is not the
overturning of the established order. It is the entrenchment of a group of
superstar companies at the heart of the global economy. Some of these are old
firms, like GE, that have reinvented themselves. Some are emerging-market
champions, like Samsung, which have seized the opportunities provided by
globalisation. The elite of the elite are high-tech wizards—Google, Apple,
Facebook and the rest—that have conjured up corporate empires from bits and
bytes.
기업의중역회의시화두는아마도‘붕괴(distruption)’일것이다. 그러나현시대비즈니스의가장두드러진특징은기존질서의전복이아니라글로벌경제의중심에몇몇초특급기업이확고히자리매김하고있다는점이다. 글로벌초특급기업중에는 GE 등스스로재편을거듭해온역사가오래된기업들도있고, 삼성처럼세계화에따른기회를포착한신흥시장강자도있다. 그중최고는바로구글, 애플, 페이스북등하이테크강자들이다.
As our special report this week
makes clear, the superstars are admirable in many ways. They churn out products
that improve consumers’ lives, from smarter smartphones to sharper televisions.
They provide Americans and Europeans with an estimated $280 billion-worth of
“free” services—such as search or directions—a year. But they have two big
faults. They are squashing competition, and they are using the darker arts of
management to stay ahead. Neither is easy to solve. But failing to do so risks
a backlash which will be bad for everyone.
이들초특급기업은여러면에서존경받을만하다. 한층업그레이드된스마트폰에서부터더욱더얇아진 TV에이르기까지소비자의생활을향상시키는제품을출시하고있으며연간 2,800억달러가치의“무료”서비스를미국과유럽에제공하고있다. 하지만, 경쟁체제를무너뜨리고있고, 현재의선두자리를유지하기위해바람직하지않은경영방식을운용하고등의두가지큰폐해를안고있다. 이두폐해를해결하기란녹녹치않다. 그러나, 해결하지못하면, 모두에게피해가돌아가는역풍을맞을수있다.
Bulking up is a global trend. The
annual number of mergers and acquisitions is more than twice what it was in the
1990s. But concentration is at its most worrying in America. The share of GDP
generated by America’s 100 biggest companies rose from about 33% in 1994 to 46%
in 2013. The five largest banks account for 45% of banking assets, up from 25%
in 2000. In the home of the entrepreneur, the number of startups is lower than
it has been at any time since the 1970s. More firms are dying than being born.
Founders dream of selling their firms to one of the giants rather than of
building their own titans.
사실, 기업의몸집불리기는세계적인추세다. 연간인수합병건수는 1990년대대비 2배가넘는다. 그러나, 미국의경우인수합병이편중되어있다는우려가나오고있다. 미국의 100대기업의GDP 비중은 1994년 33%에서 2013년 46%로증가했다. 2000년 25%였던 5대금융기관의은행자산보유비중은현재 45%에달한다. 기업가정신의메카인미국의창업건수는 1970년대이래최저치를기록하고있다. 폐업이창업을앞지르고있는것이다. 기업인들은자신의기업을키워나가기보다는대기업에매각하기만을꿈꾸고있다.
For many laissez-faire types this
is only a temporary problem. Modern technology is lowering barriers to entry;
flaccid incumbents will be destroyed by smaller, leaner ones. But the idea that
market concentration is self-correcting is more questionable than it once was.
Slower growth encourages companies to buy their rivals and squeeze out costs.
High-tech companies grow more useful to customers when they attract more users
and when they gather ever more data about those users.
많은자유방임형기업에게있어서이같은현상은일시적인문제로만여겨지고있다. 현대기술은진입장벽을낮추고있고, 부실한기존기업은작지만실속있는기업에게밀리게될것이다. 하지만, 시장집중이자정현상이라는생각은과거에비해 재론의여지가있다. 성장둔화로인해기업들은경쟁사를매입하고비용을짜내려하고있기때문이다. 기술기업들은더많은사용자를유치하고, 이들에관한더많은데이터를모을때, 소비자에게더욱더유익한기업으로성장한다.
The heft of the superstars also
reflects their excellence at less productive activities. About 30% of global
foreign direct investment (FDI) flows through tax havens; big companies
routinely use “transfer pricing” to pretend that profits generated in one part
of the world are in fact made in another. The giants also deploy huge armies of
lobbyists, bringing the same techniques to Brussels, where 30,000 lobbyists now
walk the corridors, that they perfected in Washington, DC. Laws such as
Sarbanes-Oxley and Dodd-Frank, to say nothing of America’s tax code, penalise
small firms more than large ones.
None of this helps the image of
big business. Paying tax seems to be unavoidable for individuals but optional
for firms. Rules are unbending for citizens, and up for negotiation when it
comes to companies. Nor do profits translate into jobs as once they did. In
1990 the top three carmakers in Detroit had a market capitalisation of $36
billion and 1.2m employees. In 2014 the top three firms in Silicon Valley, with
a market capitalisation of over $1 trillion, had only 137,000 employees.
Anger at all this is
understandable, but an inchoate desire to bash business leaves everyone worse
off. Disenchantment with pro-business policies, particularly liberal
immigration rules, helped the “outs” to win the Brexit referendum in Britain
and Donald Trump to seize the Republican nomination. Protectionism and nativism
will only lower living standards. Reining in the giants requires the scalpel,
not the soapbox.
이모든것에대한분노는이해할만하다. 그러나, 섣불리기업에철퇴를가하려하다가는모두가손해를보게될것이다. 영국의브렉시트국민투표에서‘탈퇴(outs)’ 진영이승리거두고, 도날드트럼프가공화당대선주자자리를차지하게된데는친기업정책, 특히이민법에대한환멸이한몫을했다. 보호주의와배척주의는생활수준을낮추기만할뿐이다. 대기업에대한고삐를틀어쥐기위해서는대대적인수술이필요하다.
That means a tough-but-considered
approach to issues such as tax avoidance. The OECD countries have already made
progress in drawing up common rules to prevent companies from parking money in
tax havens, for example. They have more to do, not least to address the
convenient fiction that different units of multinationals are really separate
companies. But better the grind of multilateral negotiation than moves such as
the European Commission’s recent attempt to impose retrospective taxes on Apple
in Ireland.
즉, 조세회피문제에대해강경하면서도신중하게접근해야한다. 일례로, OECD 회원국은기업의조세회피를막는규정을마련했다. 다국적기업의각사업부문이실제로독립된기업라는‘편리한허구’에대처하기위해해야할일이많이남아있지만, 그래도 EC가아일랜드에서세금감면을받은애플에세금츨추징하려한것보다는OECD의다국적인협상이더바람직한방법이다.
Concentration is an even harder
problem. America in particular has got into the habit of giving the benefit of
the doubt to big business. This made some sense in the 1980s and 1990s when
giant companies such as General Motors and IBM were being threatened by foreign
rivals or domestic upstarts. It is less defensible now that superstar firms are
gaining control of entire markets and finding new ways to entrench themselves.
편중은더심각한문제다. 미국의경우대기업의편의를봐주는경향이자리를잡았다. 1980년대와 90년대에는어느정도타당하다고여길만했다. GM,
IBM 등의대기업이외국경쟁사및국내신생기업의위협을받고있었기때문이다. 그러나지금은이들이시장전반을장악하고있고, 자신의입지를공고히할새로운방법들을발굴하고있어편의를봐주는것은타당성이별로없다.
Prudent policymakers must
reinvent antitrust for the digital age. That means being more alert to the
long-term consequences of large firms acquiring promising startups. It means
making it easier for consumers to move their data from one company to another,
and preventing tech firms from unfairly privileging their own services on
platforms they control (an area where the commission, in its pursuit of Google,
deserves credit). And it means making sure that people have a choice of ways of
authenticating their identity online.
현명한정책입안자들이나서서디지털시대에맞도록독점금지정책을재편해야한다. 대기업의유망한신생기업인수로인한장기적인영향에더욱더경계해야한다. 또한, 소비자가한기업에서다른기업으로자신의데이터를이전하는것이더쉬워져야하고, 기술기업이자신이통제관리하는플랫폼을기반으로한고유서비스에부당한특권을부여할수없어야한다. 이에더해온라인상에서개인신원인증방법을사람들이선택할수있어야한다.
1917 and all that
The rise of the giants is a
reversal of recent history. In the 1980s big companies were on the retreat, as
Margaret Thatcher and Ronald Reagan took a wrecking ball to state-protected
behemoths such as AT&T and British Leyland. But there are some worrying
similarities to a much earlier era. In 1860-1917 the global economy was
reshaped by the rise of giant new industries (steel and oil) and revolutionary
new technologies (electricity and the combustion engine). These disruptions led
to brief bursts of competition followed by prolonged periods of oligopoly. The
business titans of that age reinforced their positions by driving their
competitors out of business and cultivating close relations with politicians.
The backlash that followed helped to destroy the liberal order in much of
Europe.
So, by all means celebrate the
astonishing achievements of today’s superstar companies. But also watch them.
The world needs a healthy dose of competition to keep today’s giants on their
toes and to give those in their shadow a chance to grow.
어쨓든, 오늘날의수퍼스타기업의눈부신업적은축하하자. 하지만, 동시에감시도해야한다. 이들기업이방심하지않도록만들고, 이들의그늘에가려져있는기업들이성장할수있는기회를주기위해서는건전한경쟁이이루어져야한다.
첫댓글 Disruption을 맨 처음에는 "붕괴"라고 번역하고 마지막에는 "혼란사태"라고 하셨는데 약간 의미 잔달이 부족해 보입니다. 급격한 변화, 변혁등이 어울리지 않나 합니다.
Disruption은 올해의 buzz word 중 하나인 듯 합니다. 적절한 한국어 표현을 찾기가 쉽지 않네요.
좋은 의견 감사합니다.