IDEAS home Printed from https://ideas.repec.org/a/pal/jintbs/v42y2011i7p971-973.html
   My bibliography  Save this article

The global environment of business

Author

Listed:
  • Michael H Best

    (University of Massachusetts, USA)

Abstract

Recognizing the ongoing industrial revolution: The lessons of business historyOne of the first tenets of international business (IB) is that it spans multiple disciplines. Yet driven by the need to publish in specialist journals or by the disciplinary expertise of individual authors, most studies at best pay lip service to this aspect of the field. It is perfectly possible to do deep and meaningful IB research through a single disciplinary lens. However, using the analytical tools of multiple disciplines can make for richer analysis (Agrawal & Hoetker, 2007). Frederick Guy's ambitious book is an attempt at such an inquiry.Guy begins with a survey of the historical roots of IB. The economic and business world that we see today is the result of actions, strategies and events accumulated over a long historical time span (Jones & Khanna, 2006). Recognizing the historical roots of the current business environment greatly improves our understanding. Yet with few exceptions (Cantwell, 2000; Wilkins, 1974), IB scholars devote little attention to historical perspectives.The historical perspective enables us to see the deeper long-term processes that underpin current developments. For example, the technological revolution represented by the microprocessor and the internet resonates with the one brought about by electricity over a century ago. The strategic problems faced by Bill Gates and Microsoft have much in common with those faced by Thomas Edison and General Electric.The long-term perspective enables us to recognize the industrial revolution that is currently taking place. The first industrial revolution moved value creation from the direct application of human labor to tangible assets like industrial plants and machinery. At present the source of value is been shifting, at an accelerating pace, from tangible assets to intangible knowledge assets based on marketing (brands, logistics) and R&D (patents, software, know-how) (Mudambi, 2008). As Guy points out, the localized contextualization of this knowledge creates “sticky” points in geographical space like Silicon Valley and the Italian industrial districts. These technology clusters are the hotbeds of innovation and new industries; studying their linkages with one another is the next frontier in IB research. Best's analytical review makes clear that this book is a valuable addition to the IB scholarly canon.Ram MudambiJIBS Book Review EditorREFERENCESAgrawal, R., & Hoetker, G. 2007. The growth of management and its relationship with related disciplines. Academy of Management Journal, 50(6): 1304–1322.Cantwell, J. A. 2000. Technological lock-in of large firms since the interwar period. European Review of Economic History, 4(2): 147–174.Jones, G., & Khanna, T. 2006. Bringing history (back) into international business. Journal of International Business Studies, 37(4): 453–468.Mudambi, R. 2008. Location, control and innovation in knowledge-intensive industries. Journal of Economic Geography, 8(5): 699–725.Wilkins, M. 1974. The maturing of multinational enterprise: American business abroad from 1914 to 1970. Cambridge, MA: Harvard University Press.

Suggested Citation

  • Michael H Best, 2011. "The global environment of business," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 42(7), pages 971-973, September.
  • Handle: RePEc:pal:jintbs:v:42:y:2011:i:7:p:971-973
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/jibs/journal/v42/n7/pdf/jibs201134a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: http://www.palgrave-journals.com/jibs/journal/v42/n7/full/jibs201134a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jintbs:v:42:y:2011:i:7:p:971-973. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Springer Nature Abstracting and Indexing). General contact details of provider: http://www.palgrave-journals.com/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.