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The neglected need for strategic renewal in emerging markets: Lessons from Vietnam in transition

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  • Taussig, Markus

Abstract

Research on strategy in emerging markets is based on overly static representations, paying insufficient attention to the impact of contextual change on the value of firms’ resources. This article examines how a sample of the most successful Vietnamese private companies during the first decade of their country's transition from central planning was affected by the shifting rules of the game in their business environment. I suggest the primary takeaway is that sustained superior performance in an environment with changing keys to success requires dedicated and ongoing strategic renewal. I also suggest the need for both scholars and managers to immerse themselves in emerging markets if they care to fully understand the granular ways in which these settings differ from more familiar advanced economies.

Suggested Citation

  • Taussig, Markus, 2013. "The neglected need for strategic renewal in emerging markets: Lessons from Vietnam in transition," Business Horizons, Elsevier, vol. 56(4), pages 465-471.
    • Handle: RePEc:eee:bushor:v:56:y:2013:i:4:p:465-471
    DOI: 10.1016/j.bushor.2013.04.004
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    References listed on IDEAS

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    1. Johnson, Simon & Boone, Peter & Breach, Alasdair & Friedman, Eric, 2000. "Corporate governance in the Asian financial crisis," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 141-186.
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    4. Young, Michael N. & Ahlstrom, David & Bruton, Garry D. & Rubanik, Yuri, 2011. "What do firms from transition economies want from their strategic alliance partners?," Business Horizons, Elsevier, vol. 54(2), pages 163-174.
    5. Markus Taussig, 2009. "Where Is Credit Due? Legal Institutions, Connections, and the Efficiency of Bank Lending in Vietnam," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 25(2), pages 535-578, October.
    6. Raymond Fisman, 2001. "Estimating the Value of Political Connections," American Economic Review, American Economic Association, vol. 91(4), pages 1095-1102, September.
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