Free Essay

Mike Peng

In: Business and Management

Submitted By cretelanais
Words 250
Pages 1
“It is not the strongest of the species, nor the most intelligent that survives. It is the one that is most adaptable to change” said Charles Darwin. In international business, the environment is more and more competitive and firms try to find new ways to grow their business. Economists have discussed the two most important issues in International Business are:
- What drives firm strategy?
- What determine the success and failure of firms around the world?
Most of the times in International Business authors rely on two frameworks, namely institution based view (developed by Porter in 1980) and resources based view (exemplified by Barney in 1991). The first one explains that conditions within an industry determine firm strategy and performance, whereas the second one focuses on the firm specific differences.
What Mike Peng found out is that these economists were ignoring formal and informal institutions that provide the context of competition among industries and firms (because they based their theories on a relatively stable market-based institutional framework). As a matter of fact, in “An institution-based view of international business strategy”, Mike Peng presents in a first part how institutions are the “third leg in strategy tripod” and what is the key question in international business. In a second part, he develops four diverse areas of substantive research regarding business in emerging economies, which are antidumping as entry barriers, competing in and out of India, growing a firm in China and finally governing a corporation in emerging economies.

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