The Three Pillars: Business, State and Society: MNCs in Emerging Markets

Abstract

The effort in this chapter is to capture some of the relationships between the three pillars in emerging markets. It is an attempt to endow with knowledge on how MNCs manage their business, social and political relationships in emerging markets. The theoretical and empirical facts are to aid understanding of the differences between developed and emerging countries. Further, the discussions express on the heterogeneity and how the three pillars vary in between the emerging countries. The extensive difference in between these countries, the vital role of social and political relationships together with the rapid development and less developed institutional regulations is explained to challenge the MNCs when managing their businesses. The chapter affirms the weakness in the existing theoretical views and claim for the need for development of new theoretical views adapted for these economies.

Citation

Ghauri, P., Hadjikhani, A. and Elg, U. (2012), "The Three Pillars: Business, State and Society: MNCs in Emerging Markets", Hadjikhani, A., Elg, U. and Ghauri, P. (Ed.) Business, Society and Politics (International Business and Management, Vol. 28), Emerald Group Publishing Limited, Leeds, pp. 3-16. https://doi.org/10.1108/S1876-066X(2012)0000028008