Corporate Market and Nonmarket Strategies in Asia: A Conceptual Framework

Author:

Aggarwal Vinod K.

Abstract

Despite recent currency crises, most of the Asia-Pacific economies continue to be among the most attractive markets in the world and now appear to be recovering rapidly. An important element in understanding the dynamics of firm strategies in Asia is the nature of nonmarket strategies, which concern efforts to respond to and influence the political-economic-social environment. To examine such nonmarket strategies and how they fit with other firm tasks, this article first focuses on “positional analysis”—that is, how market forces, firm competencies, and the nonmarket environment influence the choice of trade, investment, or some mix, at the national, regional, or global level. It then considers the nature of “strategic analysis,” consisting of a firm's choices of market arena, a transaction cost analysis of organization forms for market penetration, and a distributive politics analysis of nonmarket issues. These factors combine to influence the firm's integrated strategic choice. Implementation of this choice is based on “tactical analysis” that focuses on the market, organizational, and nonmarket tactics that firms must pursue to succeed with their chosen strategy.

Publisher

Cambridge University Press (CUP)

Subject

Political Science and International Relations,Industrial relations

Reference55 articles.

1. Prahalad C.K. and Hamel Gary . 1990. “The Core Competence of the Corporation.” Harvard Business Review (May-June): 79–91.

2. Baron (2000). The “four I's” noted here provide a useful but limited first cut to understand the nonmarket environment as discussed in the following paragraphs.

3. Coase Ronald . 1960. “The Problem of Social Cost.” Journal of Law and Economics (October): 1–44

4. See Coase (1960) and Williamson (1985, 1996), among others.

5. Barriers to New Competition

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