The pendulum view presents the events in the present timeframe as a long-term model to help us gain greater understanding of and perspective on globalization's challenges. Show
The current era of globalization originated after World War II with the major Western nations committing to globalization. From the 1950s through the 1970s, political unrest in the communist countries formed a different view of globalization. Noncommunist countries, such as Argentina and Brazil, focused on protecting their domestic industries. In contrast, the Four Tigers—specifically, the developing economies of Hong Kong, Singapore, South Korea, and Taiwan—participated in the global economy. Both emerging and developed markets benefit greatly from globalization. However, seen in a historical context, globalization never continues in one upward or positive direction, hence the view of it as a pendulum. In the 1990s, globalization was on the fast track. However, globalization proponents witnessed significant backlashes and setbacks. This rapid growth in globalization led to an inaccurate view that globalization was new, which created many negative perceptions. This new view of globalization created fear, and competition posed a direct threat to countries' culture and values. More recently, globalization has once again come to be considered a positive, offering contributions to worldwide economic growth. Globalization changes over time, with both a rosy and dark side. In some areas, it has resulted in job creation with tremendous outcomes, while in other areas it has resulted in job losses and hardship. How globalization has affected you or your family will influence your perceptions and viewpoints. What is the most fundamental question driving global business and why is it important?Fundamental question: What determines the success and failure of firms around the globe? Success of firms is enabled (or constrained) by formal and informal institutions (or rules).
What is the difference between an institutional based view of global business and a resource based one?The resource-based view posits that firm- specific capabilities differentiate successful firms from failing ones. The institution-based view adds by arguing that in addition to industry- and firm-level con- ditions, firms also need to take into account the influences of formal and informal rules of the game.
Which of the following is true of globalization according to the pendulum view perspective?According to the pendulum view on globalization, which of the following statements is true of globalization? It is not one-directional.
What defines the field of global business more than anything else?Overall, the focus on firm performance around the globe defines the field of global business (or IB) more than anything else.
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Which are the two core perspectives in answering the question what determines the success or failure of global firms?
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