As countries around the world seek to enhance their economies while facing the challenges of climate change and income inequality, national competitiveness is an important marker of the related strengths and weaknesses that policymakers will need to address. Among the existing reports on national competitiveness and rankings, such as IMD World Competitiveness Yearbook and WEF Global Competitiveness Report, there are sizable discrepancies in the ranking order for the same countries. As a result, confusion arises as such an outcome creates difficulties for government officials when translating these findings into real-world policies.The reality is that these discrepancies are due to the differences in logic and analytical models used by IMD and WEF. Therefore, in recognizing such problems and limitations, The Competitiveness of Nations 2 presents the IPS model as a new approach. Building on from Michael Porter's diamond model, it demonstrates a robust set of methodologies as well as offers several key policy implications for economies around the world that wish to enhance their competitiveness.The analytical tools used in this book can be further utilized for other units of analysis such as industries and individual firms. As this book provides a series of sophisticated methodologies and specific guidelines for enhancing national competitiveness, both academics and practitioners can derive useful implications.This annual book series was launched in 2021 and has included timely topics and in-depth discussion on national competitiveness. The first edition dealt with the COVID-19 global pandemic and the US-China trade war as its key focus. For this second edition, the Environment, Social, and Governance (ESG) issue has been selected given its growing impact on strategic decision-making at both firm and economic levels for sustainable competitiveness. This edition explores the development of ESG in various regions including Asia (Japan, Korea, India), Europe (Russia), Latin America (Peru), and Africa (Sub-Saharan Africa). It addresses how firms can contribute to ESG, and what governments should do to incentivize or regulate firms' engagement in its practices.

Foreign Direct Investment (FDI) studies have evolved as one of the mainstreams in business strategy. This book presents a comprehensive perspective on the motivations behind the studies, the effects of FDI, and how it can be utilized and extended to other areas of studies. Written with a global perspective, this book not only touches upon business strategies but also covers government policies toward promoting and attracting FDI for industrial and economic development. The author, with his vast experience in consulting and research projects for multinational companies, international organizations and governments, examines real world business practices of Eastern firms and how they relate to their Western counterparts, thus making this book a valuable and practical reference not only for students, but for practitioners, too.

Given the rise of Asia in the global economy in recent decades, it is important to understand the uniqueness of Asian business. This book first introduces the core strategies prevalent in Western business, and then explains how they can be applied or adapted to Asian business. When necessary, modified or new business models (as developed by the author) are utilized to better explain Asian business. Furthermore, this book deals not just with the theory, but also with practice. Several real-life case studies and examples are discussed in order to compare and contrast the Asian and Western perspectives on global business strategy. Readers will therefore gain an enhanced understanding of Asian business and formulation of Asian business strategy.

As the second edition of Global Business Strategy, this book provides novel insights on how a firm can formulate a successful approach toward its global business from both the Western and Asian perspectives. In this respect, the book's overall goal is to bridge the gap between these two different viewpoints. This second edition includes more recent business theories, techniques, and cases within the field of global business strategy. Specifically, it includes new theories and techniques like creating shared value (CSV), the global value chain, platform strategy, and business ecosystem. They are shown to be important tools for enhancing competitiveness and maintaining sustainability among firms in today's rapidly changing international business environment. This is very much evident today given the critical challenges arising from the trade tensions between the United States and China, emerging technologies such as artificial intelligence and digital transformation, and the unprecedented disruptions brought on by the coronavirus pandemic. We hope that this book will serve as a useful companion for students, business practitioners, policymakers, and the more general readers interested in issues related to competitiveness and business.

With Foreword by Michael PorterFollowing the success of the First Edition published in 2000, this extended edition of From Adam Smith to Michael Porter: Evolution of Competitiveness Theory provides a thorough explanation of the evolution of international competitiveness theories and their economic and strategic implications. The theories range from classical theories such as Adam Smith's theory of absolute advantage, to new theories such as Michael Porter's diamond model. Professor Cho and Professor Moon have updated their research with their latest theoretical advancements, such as the double-diamond-based nine factor model, and MASI (Measure, Analyze, Stimulate, and Implement) model.This newly revised volume is suitable for International Economics, Business Strategy, and International Business courses on both the graduate and upper-division undergraduate levels. Policy makers and corporate managers will also find useful implications from this book's systematic integration and application of important competitiveness models.

With Foreword by Michael PorterFollowing the success of the First Edition published in 2000, this extended edition of From Adam Smith to Michael Porter: Evolution of Competitiveness Theory provides a thorough explanation of the evolution of international competitiveness theories and their economic and strategic implications. The theories range from classical theories such as Adam Smith's theory of absolute advantage, to new theories such as Michael Porter's diamond model. Professor Cho and Professor Moon have updated their research with their latest theoretical advancements, such as the double-diamond-based nine factor model, and MASI (Measure, Analyze, Stimulate, and Implement) model.This newly revised volume is suitable for International Economics, Business Strategy, and International Business courses on both the graduate and upper-division undergraduate levels. Policy makers and corporate managers will also find useful implications from this book's systematic integration and application of important competitiveness models.

When it comes to strategy, how should we define victory? For centuries, Eastern and Western thinkers have grappled with this question, offering different answers. What can we learn from this difference? In The Art of Strategy, Moon provides a novel and systematic integration of the two dominant frameworks of the East and West: Sun Tzu's military strategy and Michael Porter's business strategy. This unlikely combination of thinking suggests an innovative extension of our understanding and practice of strategy, which will appeal to scholars, students, practitioners and general readers with an interest in strategy. By aligning the perspectives of these two great thinkers, Moon argues that true winning is about maximizing and optimizing overall value for all engaged stakeholders, and this requires a more efficient approach to strategy.

Given the rise of Asia in the global economy in recent decades, it is important to understand the uniqueness of Asian business. This book first introduces the core strategies prevalent in Western business, and then explains how they can be applied or adapted to Asian business. When necessary, modified or new business models (as developed by the author) are utilized to better explain Asian business. Furthermore, this book deals not just with the theory, but also with practice. Several real-life case studies and examples are discussed in order to compare and contrast the Asian and Western perspectives on global business strategy. Readers will therefore gain an enhanced understanding of Asian business and formulation of Asian business strategy.

Latest Edition: From Adam Smith to Michael Porter: Evolution of Competitiveness Theory (Extended Edition)Traditionally, a nation's international competitiveness has been explained by international trade theories originating from Adam Smith. However, today's global economy is too complicated to be explained by the traditional trade theories. Recently, Michael Porter of the Harvard Business School introduced a new competitiveness theory, the so-called diamond model. He differentiated his theory from the traditional trade theories by arguing that national prosperity is not inherited, but created by choices; in other words, national wealth is not set by factor endowments, but created by strategic choices. He showed different choices of creating wealth, which had been quite limited in the world of traditional trade theories. His diamond model has lately been extended by several scholars. This book highlights Porter's achievement by comparing it with those of traditional trade theorists and presents new developments of competitiveness theory. By discussing the “before” and “after” of Porter's theory, the authors provide the reader with a holistic picture of competitiveness theory.

This book provides rankings of national competitiveness alongside a series of sophisticated and specific guidelines for enhancing national competitiveness. Existing national competitiveness studies are often flawed since they are not based on rigorous models and appropriate methodologies. In this study, theoretical and methodological problems in existing studies are tackled and a series of tools for assessing national competitiveness is presented. The foundation underpinning the analysis is the MASI (Measure-Analyze-Simulate-Implement) approach, which is used to systematically address policy implications for enhancing national competitiveness. The data and analytical tools can also be utilized for other areas of study, including industry and firms, and intra-group rankings allow cross-country comparison among countries with similar characteristics. Specific guidelines for enhancing national competitiveness are also prescribed. This wide-ranging, comprehensive book will prove an essential reference tool for academics and researchers in the fields of international business and international economics. Both business and public-sector practitioners will also find this book to be a source of invaluable information on competition in investment locations and for setting benchmarks against leading country competitors. Contents: 1. User Guide 2. Highlights 3. Conceptual Framework and Analytical Methodologies 4. Application of MASI: Korea 5. Factor-level Analysis 6. Analysis of Nine Groups 7. Analysis of Special Topics 8. Country Profiles Appendix References Index

The success of Korea has inspired numerous studies and research in the past decades. Despite good efforts to analyze the strategy of Korea, earlier studies have not been able to satisfactorily explain the country's "miraculous " growth. After thorough analysis of these earlier studies, a new model was developed to show that a country or firm does not have to be more innovative or possess more resources to have a competitive advantage over others. In The Strategy for Korea's Economic Success, Hwy-Chang Moon details four factors that comprise the ABCD model and illustrates how Korean government, corporations, and people have exemplified these factors in achieving their current level of success. The four factors are agility (speed + precision), benchmarking (learning + best practices), convergence (mixing + synergy), and dedication (diligence + goal-orientation), and together, they have enabled Korea's economic success and will continue to drive the next level of growth. Anyone can become more competitive with proper management of the ABCDs. Korea's development strategy holds special value, because it is more practical and appropriate for many developing countries. For more developed countries, on the other hand, the ABCDs can be used to fast-track the next phase of growth. This book also highlights the role of internationalization in broadening the scope of strategic choices, and shows how the combined implementation of internationalization and the ABCDs deepens pool of strategic resources.

In the existing reports on national competitiveness and rankings such as IMD World Competitiveness Yearbook and WEF Global Competitiveness Report, there are sizable discrepancies in the ranking order for the same countries. As a result, the reader is often confused because such an outcome creates difficulties for government officials when translating these findings into real-world policies. These discrepancies are actually due to the differences in logic and analytical models used by IMD and WEF. Therefore, in recognizing the problems and limitations of these models, this book presents the IPS model as a new approach. As an extension of Michael Porter's diamond model, it demonstrates a robust set of methodologies as well as offers a number of key policy implications for countries around the world that wish to enhance their national competitiveness.The analytical tools used in this book can be further utilized for other units of analysis such as industries and firms. As this book provides a series of sophisticated methodologies and specific guidelines for enhancing national competitiveness, both academics and practitioners can derive useful implications from this research. Alongside the theoretical frameworks and methodologies for national competitiveness presented in this book, timely topics are included such as the COVID-19 global pandemic and the US-China trade war. This book also includes various country-specific real-world cases that are assessed from the perspective of both developed and developing countries.

When it comes to strategy, how should we define victory? For centuries, Eastern and Western thinkers have grappled with this question, offering different answers. What can we learn from this difference? In The Art of Strategy, Moon provides a novel and systematic integration of the two dominant frameworks of the East and West: Sun Tzu's military strategy and Michael Porter's business strategy. This unlikely combination of thinking suggests an innovative extension of our understanding and practice of strategy, which will appeal to scholars, students, practitioners and general readers with an interest in strategy. By aligning the perspectives of these two great thinkers, Moon argues that true winning is about maximizing and optimizing overall value for all engaged stakeholders, and this requires a more efficient approach to strategy.