VOLUME 2, NUMBER 1
Alan M. Rugman
This paper is an autobiographical reflection on the early history of internalization theory, first
developed by Buckley and Casson (1976). The author, Alan Rugman, was a colleague of theirs at Reading University, and he subsequently published a large number of articles in refereed academic journals both extending and testing internalization theory. This article places a set of 25 of the most influential articles by Rugman on internalization theory into the intellectual, institutional and personal context within which they were conceived, presented and published.
Sabine B. Reddy, Devanathan Sudharshan and Thomas Roehl
Firms must repeatedly respond to changes in the regulatory environment. Rather than focusing only on the response of the industry as a whole, we investigate the variation in response at the firm level. We postulate and find that the firm level response will be contingent on the resource base of the firm and the firm’s degree of isomorphism to past regulatory and competitive conditions. Firms that are most isomorphic appear less able to adjust strategically to drastic environmental shifts. Using dynamic strategic group methodology, we demonstrate this response variation in a sample of Japanese pharmaceutical firms.
ASIAN ECONOMIC CRISIS, FOREIGN DIRECT INVESTMENT AND STABILIZED ECONOMIC GROWTH: CRISIS REVISITED AND IMPLICATIONS FOR APEC MEMBER ECOMOMIES
Opie L. Dawson and Jay S. Kang
The Asian economic crisis of 1997 gives us a valuable lesson that foreign direct investment (FDI) can play a more important role in promoting economic stability than other capital flows such as bank lending and portfolio equity investment. This paper explains the relationships between FDI and the crisis. Specifically, it studies the role of FDI in stable economic growth. Recent developments of inward FDI policies by the Asian member economies of APEC are then analyzed, after which they are categorized into four groups within a framework that is developed in this paper. Some important, generalized implications for FDI policies are also provided.
OCCUPATIONAL KNOWLEDGE UTILITIES IN INTERNATIONAL BUSINESS AND ECONOMICS
Opie L. Dawson and Jay S. Kang
Internet occupational knowledge utilities (OKUs) can aid nations in international trade in applying fair means to improve their comparative advantage. For this purpose properly developed OKUs can
provide the knowledge base needed to:
• Enhance a nation’s productivity through improved training of its workforce.
• Enhance the growth of mall business – a powerful source of innovation in all industries.
• Cut costs and increase markets through use of automation technology and E-commerce.
• Enhance capital investment through the action of the above activities.
We present the need, solution, conceptual schema, technology, funding and motivation required in the development of such OKUs.
Farid Sadrieh and Madan Annavarjula
This paper investigates the contradictory developments the world is presently witnessing- globalism and growing international interdependencies on the one hand, and, an alarmingly rising trend in nationalism and ethnocentrism on the other. Concepts developed in Anthropology, Social Psychology and Marketing are used to construct a theoretical framework for ethnocentrism. Micro and Macro implications for international marketing are then discussed.
Michael Behnam and Dirk Ulrich Gilbert
The paper first summarises some of the economic and social characteristics of the evolving world scenario, and their relevance for globalization, economic development and foreign direct investment. It then goes on to identify and discuss the main components of the competitive strengths and weaknesses of the Korean economy and of Korean firms; and finally examines the implications of these findings for outward and inward foreign direct investment policy.
Yeomin Yoon and Robert W. McGee
In this paper the authors rethink the Asian financial crisis that occurred in 1997-1998 through the relatively new capital account crisis paradigm. They argue that this paradigm provides a much more appropriate perspective to frame the questions regarding causes, cures, and preventive measures raised by the Asian crisis, and that it provides a more persuasive explanation for the greater-than-expected severity of the crisis than that which would have been expected from an analysis based on the traditional current-account mode of thinking. he authors conclude that, just as the Great Depression was a tragic testament to the failure of the political process to yield economic policies appropriate for sustaining the economy on a potential growth path, the Asian financial crisis may also be so construed.
Entrepreneurship has more to it than just self-employment and hard work; to tap its full potential one needs to put emphasis on the generation and development of ideas. Research on creativity suggests that all of us are able to engage in this kind of creative activity. This essay presents techniques for, and examples of, generating entrepreneurial ideas. Its goal is to show that in the present age, which is marked by rising levels of education, growing consumer sophistication and increasing opportunities for comparing values, ideas that are developed in harmony with society's values have good and growing chances for success in the marketplace. Ultimately, a culture of innovative entrepreneurship is envisioned, which is able to incorporate economic, artistic, and social activities as parts of one coherent spectrum of human creativity.
The author analyzes the model of Strategic Interest Analysis (SIA) as a fundamental tool that leaders can profitably use in developing productive strategies relevant for the emerging organizations in the new millennium. The author explains the role of SIA in developing mission, philosophy, and strategic intent of an organization. He identifies internal as well as external challenges facing large organizations and the need for aligning vision and organizational culture in an emerging information economy. Guidelines in developing SIA and strategic vision skills are included, as well as critical skills needed for developing interest-based leadership.