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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.
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.
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
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.
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