Peng_Chapter 2

Peng_Chapter 2 - LEARNINGOBJECTIVES

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LEARNING OBJECTIVES After studying this chapter, you should be able to: 1. Explain the concept of institutions and their key role in reducing uncertainty 1. Articulate the two core propositions underpinning an institution-based view of global business 1. Identify the basic differences between democracy and totalitarianism 1. Outline the differences among civil law, common law, and theocratic law 1. Understand the importance of property rights and intellectual property rights 1. Appreciate the differences among market economy, command economy, and mixed economy 1. Participate in three leading debates on politics, laws, and economics 1. Draw managerial implications
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Opening Case: New South Africa What is Apartheid?  When and how did the Apartheid end?  What is BEE? What were the labor issues at the time?  What were the coping strategies by firms?
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FORMAL AND INFORMAL INSTITUTIONS Institutions  - formal and informal policies popularly known as  “the rules of the game” Formal Institution: laws, regulations, and rules  Informal Institution: norms, Cultures, and Ethics Institution-based view   - leading perspective on global  business in which firms constantly  monitor decode , and  adapt  to the changing rules of the game to survive and prosper
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WHAT DO INSTITUTIONS DO? Reduce 
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Peng_Chapter 2 - LEARNINGOBJECTIVES

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