Trends in international business thought and literature: The Arabian gulf countries

The Arabian Gulf countries represent an important economic segment of the Arab world and a vital market for foreign investors and exporters. Yet, most observers agree that the past successful economic growth derived from oil revenues cannot continue unless the economies in the Arabian Gulf are diversified and privatized. This structural adjustment process poses many challenges but also opportunities for local and foreign managers. This article reviews selected business trends in the region. These trends concern government economic policies, environmental concerns, services marketing, and management education.     

Trends in international business,thought, and literature: The past and future of political analysis for international business

The literature on political risks (and opportunities) in international business has expanded far beyond its initial preoccupation with expropriation and instability in “third world,” developing countries. The literature has thus become more concerned with other types of government policies and with political conditions in “first world” and “second world” countries as well. In those respects, the literature has developed analytically and become of more widespread relevance to managerial issues in international business. This article reviews the topical coverage of the political risk literature of international business, and in addition it considers key analytical issues concerning the levels of analysis, theoretical content, and analytical methods that have been evident, as well as those that have been neglected. © 1993 John Wiley & Sons, Inc.     

Trends in international business thought and literature: A review of international market entry mode research: Integration and synthesis

Although entry mode strategy has traditionally been a central topic of research in international business, it is only recently that integrated research frameworks have developed. Largely in response to the dynamic reconfiguration of global business, these new insights from channel management, global strategy, alliances, and political economy have infused new perspectives into entry mode research. This article reviews and synthesizes this literature. Within an over-arching classificatory framework, central themes and sub-themes within this body of literature are identified and their inter-linkages investigated. The evolutionary process of entry mode research is examined. The article concludes with directions for future research and the need to integrate entry mode research with partnering strategies.     

Trends in international business thought and literature (supplement): The transatlantic business dialogue: Business at the negotiating table

The Transatlantic Business Dialogue (TABD) is a novel coalition of American and European business leaders who seek to influence their respective governments on transatlantic trade and investment matters. In the past year, the TABD has emerged as a powerful voice in setting the agenda for the “transatlantic marketplace.” This article examines the TABD's origins and development, and suggests that the TABD may serve as a future model for trade and investment negotiations.     

Trends in international business thought and literature: Traversing the path to insolvency: Lessons from an international alliance in management education

In 1988 the Madrid Business School (MBS) was created through a cooperative agreement between a small entrepreneurial firm in Madrid, Spain, and a large public institution of higher education in the United States. By mid-1994 MBS was financially insolvent and had closed. Discussion of this case focuses on two questions: first, could the American partner have taken any actions to increase the likelihood of MBS as a viable institution? Second, what constitutes a strategic approach to international cooperative agreements? Both issues offer lessons for entering into and participating in international cooperative agreements in higher education.     

Trends in international business thought and literature: Filling competence and skills gaps in management education and training in the baltic states

After a 50-year Soviet occupation, the three Baltic states, Estonia, Latvia, and Lithuania gained independence in the early 1990s (Nordberg, 1993: 27). The socialist planned economy left the Baltic countries' economies and industrial structures in a state of disarray. Industries developed during the Soviet occupation were, in fact, inefficient, old-fashioned, and too large in size for these small countries. The planned industrial and demand base was the Soviet Union. After independence, products could not be sold on Western markets without significant new Western investments (Nordberg, 1993: 37, 68-69, 110). The underdeveloped industrial sector and the centralized influence of the Gosplan-system had a significant detrimental influence on the management of the state-run companies. In the centrally planned system, the skills and competencies of management were not necessarily success factors; political priorities dominated. Large numbers of Russians were sent to all three Baltic states as workers, middle management, and as executives. In 1989 nearly 34 percent of the citizens of Latvia were of Russian origin, in Estonia the figure was 30 percent, and in Lithuania nearly 10 percent (Nordberg, 1993: 38). The companies in the Baltic states were seen as production units of a large centrally managed system. Marketing, sales, finance, and investment decisions were made in Moscow. Management training was production oriented. Most companies were primarily concerned with filling production quotas. With independence, everything changed. Markets, marketing, management, financing, and other normal business skills became essential for success. As privatization of state-owned industries commenced and Western competitors appeared on the market, the competence and skills gap of the Baltic executive became apparent to international partners as well as to Baltic national governments. © 1995 John Wiley & Sons, Inc.     

Trends in international business thought and literature: Reviewing east asia's miracle,its economic dynamism,and future issues

East Asia's miracle and its economic dynamism has become a popular topic for academic and business research. Researchers and practitioners have used many theories and justifications to explain this area. Since there is limited consensus among the researchers regarding the East Asian miracle, viewpoints, interpretations, and discipline-centered critiques remain equivocal. This article reviews and analyzes salient issues of this debate, its multidisciplinary contents, and some of the inherent differences between various perspectives put forward by the researchers. The importance of this review lies in its multidisciplinary approach and cross-referencing.     

Trends in international business thought and literature: One country,two currencies? Hong Kong's exchange-rate regime after 1997

A key factor in assessing the future of the Hong Kong dollar is whether China would, after 1997, take the drastic step of abolishing the Hong Kong dollar in favor of the Renminbi (RMB) as legal tender. While this possibility should not be discounted, our view is that a merger of the two currencies would only occur in the distant future when the RMB becomes fully convertible. This study argues that the status quo of the HK$-US$ link would be preserved at least until the turn of the century. A combination of factors, including the overriding need to maintain confidence and stability in Hong Kong, which is crucial for a smooth transition of sovereignty; the weak relationship between either imported or domestic-generated inflation and the exchange rate link; and the misconception that Hong Kong's export competitiveness has been undermined by an overvalued Hong Kong dollar would help to support the argument that other alternative regimes for the Hong Kong dollar exchange rate would not be feasible in the short run. These alternative regimes include changing to a floating rate     

Trends in business thought and literature: International perspectives on managers in a dual society

New winds are blowing as the 20th century draws to a close. Globalization of markets, emerging technologies, and a green alliance are factors leading to drastic changes in the structure of business and indeed in humanity itself. Market globalization results from the shrinking of the planet under a transport and telecommunications revolution. Television has become a global mirror that reflects human society, albeit imperfectly. The image transmitted is of a multicultural, heterogeneous society with a growing gap between world socioeconomic realities. Management is and will increasingly be a critical resource for development. Considerable investment has been made in all countries of the world on the training and development of managers and emerging realities will pose unprecedented demands on management development. These new challenges include new work methods, energy constraints, ecological concerns, demographic growth, product shortages, and geo-social-political instability. A radical change can hardly be expected in management education in the short term. It is possible, however, to insert an “innovation gene” in management education institutions to provoke a lasting change process. To determine such a “gene” it is advisable to screen some of the assessments that were made recently and to propose a search for “islands of modernization” in management education and training. © 1993 John Wiley & Sons, Inc.     

Trends in international business thought and literature: Parallels between the east and the west: The teachings of ancient Chinese philosophers and the echoes from western management theorists

This article aims to bridge the gap between an oriental culture and a western approach to management concepts and practice with a view to exploring a culturally fit style of management for China. Comparisons are drawn between the teachings of early Chinese philosophers and scholars with those of their western counterparts. It is envisaged that hidden links may be eventually found so that management as a universal concept with cultural variations may be the trend in the nineties and beyond.