The structural reshaping of globalization: Implications for strategic sectors, profiting from innovation, and the multinational enterprise

Abstract

The rapid reshaping of the global economic order requires fundamental shifts in international business scholarship and management practice. New forms of protectionist policies, new types of internationalization motives, and new tools of techno-nationalism may lead to what we call ''bifurcated governance'' at the macro-level and ''value chain decoupling'' at the micro-level. As a result, innovation networks will require novel reconfigurations. We examine the emerging constraints on multinational enterprises, imposed by a bifurcated world order. We also discuss how the dynamic capabilities framework can guide scholars and managers alike to achieve new forms of evolutionary fitness.

Brand credibility and marketplace globalization: The role of perceived brand globalness and localness

“…Globalization has had a profound impact on both consumers and companies. Following World War II, numerous countries embraced the expansion, concentration, and acceleration of international relations, supported by new international institutions such as the United Nations, the World Bank, and later, the World Trade Organization (Habich & Nowotny, 2017;Hu & Spence, 2017;Petricevic & Teece, 2019). Although globalization steadily increased after World War II, it accelerated dramatically in the 1990s, following the end of the Cold War and the advent of the Internet (Habich & Nowotny, 2017;Hu & Spence, 2017).…”

Impact of Political Connection Strength on the Internationalization Outcome of Chinese Firms: Perspectives from Market Exploration and Technology Acquisition

“…Due to the decrease in domestic economic growth, Chinese firms are eager to invest in international markets to seek new opportunities [12]. Chinese firms are also attempting to acquire advanced technology to upgrade production to enable them to compete with MNCs from developed countries [4,6,38].…”

“…However, these firms have caught up and even surpassed multinational corporations (MNCs) from developed countries in certain industrial sectors, such as telecommunications and high-speed railway [8,9]. Investigating the driving forces behind the internationalization of Chinese firms is the key to unlocking the mystery of the accelerating internationalization of firms from emerging countries [10][11][12].…”

“…As the Chinese government is deeply involved in businesses and resource allocation [36], it appears impossible for firms to stay entirely independent of the government, particularly large or state-owned firms. In this case, merely discovering that a political connection exists (e.g., [19,20,35,37]) may not be sufficient, as a close relationship with the government may bring Sustainability 2020, 12,1617 3 of 17 about different consequences for firms than having a weaker relationship. It is therefore necessary to introduce an index to measure the political connection strength.…”

Celebrating 50 Years of JIBS: Anniversary Issue and Medal Awardees

“…The article's great strength is that it discusses implications for eight influential IB research streams: work building on the OLI paradigm, internationalization process theory, internalization theory, the knowledgebased view of MNEs, dynamic capabilities thinking, the integration -national responsiveness view, the international entrepreneurship perspective, and the global alliance perspective. Petricevic and Teece's (2019) Perspective, though somewhat speculative and certainly controversial as to its implications for management and policy, boldly predicts a bifurcated world fraught with hazards, within which MNEs will need to operate. Here, 'rule-of-law' and 'rule-of-rulers' countries are predicted to clash, especially because of new types of technology-related protectionism.…”