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Aligning for AdvantageCompetitive Strategies for the Political and Social Arenas$
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Thomas C. Lawton, Jonathan P. Doh, and Tazeeb Rajwani

Print publication date: 2014

Print ISBN-13: 9780199604746

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199604746.001.0001

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Embracing New Frontiers

Embracing New Frontiers

Chapter:
(p.189) 11 Embracing New Frontiers
Source:
Aligning for Advantage
Author(s):

Thomas C. Lawton

Jonathan P. Doh

Tazeeb Rajwani

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199604746.003.0011

Chapter 11 examines different institutional systems in developed, developing, emerging, and transitional economies and draws implications for the design and structure of nonmarket strategies. It notes that institutional environments differ considerably around the world, and what works in one context is unlikely to succeed elsewhere. Also, differing institutional conditions pose both challenges and opportunities for firms. For instance, institutional voids can be viewed as a positive or a negative, depending on company culture, resource, and market. Moreover, these international institutional differences have important implications for both market and nonmarket strategies and the relationships between the two. Some environments limit or curtail certain practices or strategies and, therefore, reduce the range of strategic options available to the firm. Companies typically have a range of potential strategic initiatives that are tailored to the specifics of the institutional environment and make the most of company resources and capabilities.

Keywords:   institutional systems, emerging economies, institutional voids

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