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Globalization of Markets
TL;DR: The globalization of markets and manufacturing has vastly increased international competition with respect to almost every product all over the world as mentioned in this paper, which is the ability to produce and/or sell goods/services in global markets in open competition with others.
Abstract: Globalization means the ability to produce and /or sell goods/services in global markets in open competition with others. Only the fittest will survive in open competition. There exists comprehensive foreign competition with respect to almost every product all over the world. The globalization of markets has vastly increased international competition. While pursuing the strategy of globalization, the firms have to face the challenges of managing human, technological, physical resources in the foreign markets. The globalization of markets and manufacturing has vastly increased international competition.
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TL;DR: In this article, the authors argue that despite the increased frequency and intensity of interactions across local contexts, they continue to retain their distinctive differences and that multiple embeddedness creates both business opportunities and operational challenges.
Abstract: Some scholars have argued that globalization will reduce the importance of local contexts. We argue instead that despite the increased frequency and intensity of interactions across local contexts, they continue to retain their distinctive differences. MNEs face growing challenges in managing the complexity of these interactions, because they must manage 'multiple embeddedness' across heterogeneous contexts at two levels. First, at the MNE level, they must organize their networks to exploit effectively both the differences and similarities of their multiple host locations. Second, at the subsidiary level, they must balance 'internal' embeddedness within the MNE network, with their 'external' embeddedness in the host milieu. Balancing the subsidiary's strategic role within the MNE with its local identity and its domestic linkages can sometimes represent a trade-off. Multiple embeddedness thus creates both business opportunities and operational challenges, which are explored in this special issue.
972 citations
Cites background from "Globalization of Markets"
...Scholars such as Levitt (1983), Ohmae (1989), and Fukuyama (1992) optimistically expected globalization to accelerate the convergence of cultures, consumption patterns, and thus of markets....
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TL;DR: In this paper, the authors propose five axioms: (1) social media are always a function of the technology, culture, and government of a particular country or context; (2) local events rarely remain local; (3) global events are likely to be (re)interpreted locally; (4) creative consumers’ actions and creations are also dependent on technology; and (5) technology is historically dependent.
931 citations
Cites background from "Globalization of Markets"
...While a company might be tempted to follow Levitt’s (1983) dictum of global standardization and might well find it possible to standardize aspects like product, pricing, and distribution strategy, it will be risky if not impossible to standardize on the social media component of its communication strategy....
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TL;DR: In this paper, the authors argue that market heterogeneity, sociopolitical governance, chronic shortage of resources, unbranded competition, and inadequate infrastructure will require us to rethink the core assumptions of marketing, such as market orientation, market segmentation, and differential advantage.
Abstract: The core idea of this article is that five key characteristics—market heterogeneity, sociopolitical governance, chronic shortage of resources, unbranded competition, and inadequate infrastructure—of emerging markets are radically different from the traditional industrialized capitalist society, and they will require us to rethink the core assumptions of marketing, such as market orientation, market segmentation, and differential advantage. To accommodate these characteristics, we must rethink the marketing perspective (e.g., from differential advantage to market aggregation and standardization) and the core guiding strategy concepts (e.g., from market orientation to market development). Similarly, we must rethink issues of public policy (e.g., from compliance and crisis driven to purpose driven) and the marketing practice (e.g., from glocalization to fusion marketing).
878 citations
TL;DR: In this paper, a new theoretical framework drawing on a multi-level model of institutional flows and the explicit/implicit CSR model was proposed to analyze corporate social responsibility (CSR) orientations in the Lebanese context.
Abstract: This paper capitalizes on an institutional perspective to analyze corporate social responsibility (CSR) orientations in the Lebanese context. Specifically, the paper compiles a new theoretical framework drawing on a multi-level model of institutional flows by Scott (Institutions and organizations: ideas and interests, 2008) and the explicit/implicit CSR model by Matten and Moon (Acad Manag Rev 33(2):404–424, 2008). This new theoretical framework is then used to explore the CSR convergence versus divergence question in a developing country context. The findings highlight the usefulness of the compiled multi-layered institutional framework and the varied nuances and profound insights it offers in analyzing CSR in context. They also suggest that a cosmetic level of global convergence in explicit CSR may materialize in light of mimetic isomorphic pressures, but that the path dependence hypothesis is indeed salient in light of national history trajectories and socio-politico configurations. The findings correspond most closely to patterns of CSR crossvergence, combining elements of both convergence and divergence, and reflecting in complex hybridized CSR expressions. The findings and their implications are presented and assessed.
424 citations
Cites background from "Globalization of Markets"
...For example, Levitt (1983) argued that consumer behavior will inevitably converge as the economies of scale of standardized products and an 601 Convergence Versus Divergence of CSR in Developing Countries...
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...A common thesis of globalization is that the world will converge upon common models of organization, consumption, culture, and politics (Chandler, 1962; Fukuyama, 1992; Levitt, 1983; Ritzer, 2004)....
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...For example, Levitt (1983) argued that consumer behavior will inevitably converge as the economies of scale of standardized products and an underlying uniformity in universal human tastes transcend localized differences....
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TL;DR: In this paper, the authors propose a framework for conceptualizing the complexity of the context that frames international and global exchange systems, and apply a service ecosystems approach, which is grounded in service-dominant logic and its foundational premise that service is the basis of all exchange.
Abstract: To strengthen the theoretical foundations of international marketing (IM), the authors propose a framework for conceptualizing the complexity of the context that frames international and global exchange systems. In particular, they apply a service ecosystems approach, which is grounded in service-dominant logic and its foundational premise that service is the basis of all exchange. The proposed framework provides insight into the nature of context, a distinguishing feature of IM. The authors argue that the embeddedness of social networks and the multiplicity of institutions within a service ecosystem influence the complexity of context. They articulate the way the (co)creation of value influences and is influenced by the enactment of practices and the integration of resources through various levels (micro, meso, and macro) of interaction and institutions. They introduce the concept of “value in cultural context” to emphasize the influence of the symbolic and social components of context. The arti...
383 citations